The Prairie Creek project is a zinc, silver, and lead deposit located in the Northwest Territories. There are four types of zinc-lead-copper-silver resources on the property including quartz veins, stratabound sulphides, stockwork, and Mississippi Valley type. The most significant type of mineralization is the quartz vein-type, which contains the majority of the currently defined Mineral Resources.
In the early 1980s, the mine was developed and fully permitted but a decline in metal prices resulted in suspension of activity prior to commencement of production. Much of the previous infrastructure is still on site and will be utilized and upgraded where possible.
Based on a Feasibility Study released in 2017, the Prairie Creek mine was proposed as an underground operation, mining an average of 1,600 tpd over a 15 year mine life. Average annual production is projected to be approximately 65,000 tonnes of zinc concentrate and 72,000 tonnes of lead concentrate containing approximately 95 million pounds of zinc, 105 million pounds of lead and 2.1 Mozs of silver. Recoveries are estimated to be 83% for zinc, 88% for lead and 87% for silver.
The August 2017 Proven and Probable Mineral Reserve at Prairie Creek consists of 8.1 Mt at 124.2 g/t silver, 8.1% lead and 8.6% zinc (6%-12% ZnEq cut-off).
Canadian Zinc announced the results from their recently completed feasibility study. Notable improvements compared to the 2016 Pre-Feasibility Study include increased mining rate, increased mill throughput, and lower operating costs.
The Mackenzie Valley Environmental Impact Review Board has recommended approval of the proposed all season road for Prairie Creek.
Canadian Zinc is working with HCF International Advisers to arrange debt financing for the project´s capital expenditures.
Entered into a Memorandum of Understanding with Boliden and Korea Zinc to sell zinc and lead concentrates produced at the mine.