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Vancouver, British Columbia ─ September 26, 2022 ─ NorZinc Ltd. (TSX: NZC; OTCQB: NORZF) (the “Company” or “NorZinc”) is thrilled to announce it has received the new Water License (“WL”) from the Minister of Environment and Natural Resources (“ENR”), Government of the Northwest Territories (“GNWT”) for mine operations associated with the mine expansion plan of 2,400 tonnes per day (“tpd”), for the Prairie Creek Project (“Prairie Creek” or the “Project”) located in the Northwest Territories, Canada. Approval of the WL, combined with the receipt of the Land Use Permit (“LUP”) the Company announced on August 11, 2022, completes the permitting process for mining operations at Prairie Creek.
“The receipt of the Water License represents a substantial milestone for the Company with respect the advancement of the Prairie Creek Project and recognition from the GNWT of the significant impact the Project will bring to the region and all stakeholders,” said Rohan Hazelton, President & CEO, NorZinc. “Based on the Preliminary Economic Assessment completed in October 2021 and the envisioned mining rate of 2,400tpd, the Project results in an NPV8% of US$299M NPV with average EBITDA per annum of US$123M and will deliver over $8 billion in economic activity to the region over its 20-year mine life.”
The Company continues to work closely with the regulatory bodies, Parks Canada and the MVLWB, on the completion and final approval of the management plans (“MPs”) associated with construction of Phase 1 of the All-Season Road. The Company expects to receive all Phase 1 MP approvals from the respective regulators in October 2022.
NorZinc is a TSX-listed mine development Company trading under the symbol “NZC” and on the OTCQB under the symbol “NORZF”. NorZinc is focused on developing its 100%-owned high-grade zinc-silver-lead Prairie Creek Project, located in the Northwest Territories.
Rohan Hazelton, President & CEO
Tel: (604) 688-2001 or Toll-free:1-866-688-2001
E-mail: [email protected]
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