Canadian Zinc Updates on Collaboration with Buchans Minerals
Canadian Zinc Corp. (TSX:CZN,OTCQB:CZICF) released an update on its work with Buchans Minerals Corp. (TSXV:BMC), a subsidiary of Minco plc (LSE:MIO).
Canadian Zinc Corp. (TSX:CZN,OTCQB:CZICF) released an update on its work with Buchans Minerals Corp. (TSXV:BMC), a subsidiary of Minco plc (LSE:MIO).
The companies have agreed to undertake a research program on the viability of developing their respective zinc-lead-copper-silver-gold deposits via a central milling facility. Both companies’ deposits are located in Newfoundland.
As quoted in the press release:
The objective of the research program is to determine the technical and economic viability of developing the companies’ key deposits into producing operations by utilizing a central milling facility. The concept is based on the potential that collectively, the satellite deposits can be economically mined, pre-concentrated, trucked and then milled simultaneously or sequentially through a central mill.
The Company was awarded funding by the Research & Development Corporation of Newfoundland and Labrador (“RDC”) to undertake a research program to complete physical and metallurgical bench scale studies on seven volcanogenic massive sulphide (“VMS”) deposits located in central Newfoundland. RDC is providing funding of $535,000 for the project through the GeoEXPLORE Industry-led R&D Technology Development and Demonstration Program. The total cost of the research project is estimated at $735,000.
Outcomes of the research project will provide key information on which to further evaluate the economic viability of developing the central Newfoundland deposits through a central milling facility. Positive results would lead to continued development work on the known deposits, renewed exploration interest leading to new discoveries and, ultimately, potential mining operations in central Newfoundland.
Click here to read the full Canadian Zinc Corp. (TSX:CZN,OTCQB:CZICF) press release.
