ScoZinc Selects Mining Contractors for Restart of Operations
TSX VENTURE: SZM
COOKS BROOK, Nova Scotia, Feb. 14, 2018 (GLOBE NEWSWIRE) -- ScoZinc Mining Ltd. (TSX-V:SZM) (“ScoZinc” or the “Company”) is pleased to announce that it has selected Dexter Construction (“Dexter”) and Dyno Nobel Canada Inc. (“Dyno Nobel”) as the mining and drill/blast contractors, respectively, for the restart of operations at the Company’s 100%-owned ScoZinc mine in Nova Scotia.
In late 2017, the Company invited Nova Scotia contractors to bid on all mining activities and all drill/blast activities for the approximately 8-year life of the ScoZinc mine. Three bids were received for the mining activities and three bids for the drill/blast activities. Following reviews and negotiations the bidders Dexter and Dyno Nobel were selected based on price, experience, capabilities and their successful relationship in working together on other projects.
Dexter is one of the Municipal Group of companies which is Eastern Canada’s premier heavy civil and mining contractor. Dexter Construction has operated for over 40 years and is the largest civil contractor in Atlantic Canada with extensive experience in mining, construction, environmental, quarry, utilities and demolition. Dexter will be responsible for stripping, moving waste to the stockpiles, and moving ore to the mill processing facilities.
With origins dating back over a century, Dyno Nobel provides explosives products and drill/blast services to deliver ground-breaking performance for their customers. Dyno Nobel has operations and partnerships world-wide. Dyno Nobel will be responsible for the drilling and blasting activities and supply of materials relating to such activities.
Terms with the contractors have been established and contracts will be executed subject to completion of project restart financing which is underway.
About ScoZinc Mining Ltd.
ScoZinc Mining Ltd. is an established Canadian-based zinc and lead exploration and development company that owns the ScoZinc Mine (ScoZinc Limited) and related facilities near Halifax, Nova Scotia which is currently on care and maintenance. The Company intends to restart operations as soon as possible. The Company has a strong working capital position and no debt. The Company has 4,216,044 common shares outstanding, following the closing of the private placement, which are traded on the TSX Venture Exchange under the symbol “SZM”.
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This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, ScoZinc’s objectives, goals and future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, changes in general economic conditions and conditions in the financial markets, and changes in demand and prices for minerals. Although ScoZinc believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that the proceeds from the Offering will be expended as currently contemplated, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. ScoZinc disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.