NZC NorZinc Ltd

NZC-TSX
NORZF-OTCQB 

VANCOUVER, BC, Sept. 14, 2022 /PRNewswire/ - NorZinc Ltd. (TSX: NZC) (OTCQB: NORZF) (the "Company" or "NorZinc") is pleased to announce the initiation of a feasibility study level metallurgical test program on its Prairie Creek Project ("Prairie Creek" of the "Project") located in the Dehcho Region of the Northwest Territories, Canada. The Company has engaged SGS Canada Inc., one of the leading technical services providers, to conduct a full and comprehensive test program with the objective of finalizing milling parameters and performance characteristics for the planned first 3-5 years of production. Drilling, which commenced in June 2022, remains well underway with drillcore samples already out for delivery to an assay laboratory September 13, 2022.

Running concurrently with this drill program is a geotechnical study utilizing the same holes, aimed at improving dilution estimates for mineralized material to be extracted during the same first 3–5-year time period in the mine plan. The geotechnical program involves acquiring oriented structural data through the use of oriented drillcore, acoustic and optical downhole televiewer scanning, manual geotechnical logging, and rock mechanics testing of all relevant lithologies. The field data collection program is being carried out by Terrane Geosciences with oversight by Mining One and Mostert Consulting.

The drill program, which the Company announced and commenced earlier this year on June 19, is approximately 2/3 complete with 3,700m drilled to date. Another 1,000m-1,500m of drilling is still planned with successful completion of the drill campaign aimed at generating the final amount of material required for comprehensive metallurgical testing of 3 composites by SGS as follow-up work. As the geotechnical study requires fewer holes than required for the metallurgical program, it is expected the field component of the geotechnical study will conclude near the end of this month.

All drillcore samples from these programs will be fed into metallurgical testing with SGS Laboratories but will initially be submitted for various rock mechanics and traditional base and precious metal assays in the coming weeks, with assays being handled by ALS Laboratories in North Vancouver. Final assay results are expected in late November, with metallurgical testing to be initiated immediately after.

Results will be incorporated into updated resource and reserve models, in order to provide an updated mine plan incorporating the additional confidence these summer field programs are expected to bring. In addition, the Company expects to follow up on the above drill programs with a smaller <1,000m channel twinning program if weather conditions allow, using the on-site surface drill rigs to core into the Main Quartz Vein ("MQV") near the historical underground channel samples, to confirm the validity of that dataset.

"As the Company continues to make permitting progress with the recent receipt of the Land Use Permit portion of the mine operating licence, we are pleased to continue to advance the Project and commence the metallurgical test program as apart of preparing the project for an updated feasibility study and definitive offtake agreements," said Rohan Hazelton, President & CEO, NorZinc. "Metallurgical testing represents a critical step in successfully transforming an exploration stage project into an economically viable mining opportunity and we are pleased to have engaged SGS Canada to complete this next phase with us which will ensure this study is conducted to the highest standards."

NorZinc is a TSX-listed mine development Company trading under the symbol "NZC" and on the OTCQB under the symbol "NORZF". NorZinc is focused on developing its 100%-owned high-grade zinc-silver-lead Prairie Creek Project, located in the Northwest Territories.

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the completion of drilling and the metallurgical test program, management's expectations regarding the results of drilling and metallurgical testing, management's expectations regarding incorporation of the assay results into updated resource and reserve models, management's expectations regarding an updated mine plan, and management's expectations regarding a follow-up channel twinning program.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the risk that completion and results of drilling and the metallurgical testing may not complete or occur within management's anticipated timelines or at all, the risk that the assay results may not be incorporated into updated resource and reserve models as expected or at all, the risk that an updated mine plan may not materialize as expected or at all, and the risk that a follow-up channel twinning program is not undertaken as expected or at all.  

In making the forward-looking statements in this news release, the Company has applied several material assumptions which the Company believes to be reasonable, including without limitation, assumptions regarding the completion of drilling and the metallurgical test program, the results of drilling and metallurgical testing, the incorporation of the assay results into updated resource and reserve models, the plans for an updated mine plan, and the plans for a follow-up channel twinning program.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/norzinc-launches-metallurgical-test-program-for-prairie-creek-301623802.html

SOURCE NorZinc Ltd.