ONTZINC CORPORATION of Toronto now owns 100% of the Scotia base metal mine, 50 km south of Halifax, N.S. The company bought the remaining 50% of the project from REGAL CONSOLIDATED VENTURES by issuing Regal 12 million common shares and 6 million purchase warrants.
The Scotia property consists of 596 hectares plus mineral rights on 615 hectares. It was previously developed as an open pit. There is a 1,350-tonnes-per-day concentrator and related surface and maintenance buildings. It was last drilled by SAVAGE RESOURCES in 1998, and a total resource of 5.13 tonnes grading 5.49% Zn and 2.45% Pb were outlined.
OntZinc is hoping to redevelop the property to produce zinc, lead and gypsum (found in the hanging wall).
Contact OntZinc president Thomas Griffis at 416-913-7601.