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InZinc Mining Ltd. (TSX:IZN) reported that it has received the results of an independent Preliminary Economic Assessment of its 100% owned West Desert project in Utah.
InZinc Mining Ltd. (TSX:IZN) reported that it has received the results of an independent Preliminary Economic Assessment of its 100% owned West Desert project in Utah.
As quoted in the press release, results included:
• after-tax NPV(8%) is US$258.1 million, IRR is 23% and payback is estimated at 3.7 years assuming a zinc
price of US$1/lb and a 14.8 year mine life at 2.37 million tonnes per year
• conventional underground mining and processing with good recoveries
• average annual zinc production of 107.9 million lbs
• average annual iron concentrate (magnetite) production of 1.0 million tonnes
• average annual copper production of 9.9 million lbs
Chris Staargaard, president and CEO of InZinc Mining commented:
MDA’s preliminary economic assessment is a major re-appraisal of the West Desert project.
Over the next several years, a number of the world’s more significant zinc mines will close, removing a substantial proportion of annual production. The PEA confirms that West Desert has the potential to help fill this gap as an important zinc and iron producer within the continental USA, one that would be in the lowest decile for zinc cash costs globally. With the potential for both positive economics and significant upside remaining in the form of resource expansion, this project represents a very high-quality opportunity for our shareholders.
Click here to read the InZinc Mining (TSX:IZN) press release