NORTHWEST TERRITORIES – The socio-economic agreement for the Prairie Creek zinc-lead-silver mine 200 km west of Fort Simpson has been signed by mine owner Canadian Zinc Corp. (CanZinco) of Vancouver and the government of the Northwest Territories. The formal ceremony was held Aug. 22, 2011, at the Legislative Assembly in Yellowknife.
CanZinco has set an employment target of 60% NWT residents and 15% to 25% aboriginals. It has also pledged to purchase at least 30% of goods and services from within the territory during construction and at least 60% during operation. The company will protect the cultural and social well-being and traditional economies of residents and communities in the Dehcho Region and support traditional pursuits of aboriginal employees in balance with the operational requirements of the project.
The government and the company will work together to develop training programs for residents of the territory to take advantage of employment opportunities at the project.
CanZinco acquired the Prairie Creek property in the 1990s and has increased the known mineral resource to 5.8 million tonnes grading 10.71% Zn, 9.90% Pb, 0.326% Cu and 161 g/t Ag (measured and indicated) plus 5.5 million tonnes grading 13.53% Zn, 11.43% Pb, 0.514% Cu and 215 g/t Ag (inferred).
More information is posted at www.CanadianZinc.com.