Scozinc Mining Receives 10-Year Mine Permit Renewal for ScoZinc Mine
TSX VENTURE: SZM
COOKS BROOK, NOVA SCOTIA--(Marketwired - Sept. 12, 2017) - ScoZinc Mining Ltd. (TSX VENTURE:SZM) ('ScoZinc' or the 'Company') is pleased to announce that, as anticipated, the Company has been granted a 10-year renewal of it's Industrial Approval Permit enabling the restart of operations at the ScoZinc mine in central Nova Scotia. Studies are currently underway to update estimates included in the project's PEA which was completed in 2013 and to evaluate options to improve the project restart potential, and are expected to be completed shortly.
With this key permit in place, the Board will review operational plans for the restart, the improving outlook for zinc and lead prices and financial market conditions leading to a final determination for restarting operations at ScoZinc. With a fully permitted mine with existing infrastructure in place, the Company is confident that the potential of this asset can be realized in the current market and, subject to the restart evaluation and financing, management believes initial production can be achieved in 12 to 18 months.
About ScoZinc Mining Ltd.
ScoZinc Mining Ltd. is an established Canadian-based zinc and lead exploration and development company that owns the ScoZinc Mine near Halifax, Nova Scotia. The Company has a strong working capital position and no debt. The Company has 3,941,046 common shares outstanding which are traded on the TSX Venture Exchange under the symbol "SZM".