TORONTO, November 26, 2018 – Nevada Zinc Corporation (the "Company" or "Nevada Zinc") (TSX Venture: “NZN”) is very pleased to announce the commencement of a Preliminary Economic Assessment ("PEA") on the Company's flagship, 100%-owned, Lone Mountain Zinc Project, located in Eureka County, Nevada, USA.
The objectives and timing of the PEA include:
Completion of an independent preliminary scoping-level engineering analysis of the project with the aim of producing zinc chemical compounds, which includes zinc sulphate, and zinc concentrate;
Providing an estimate of the potential economic value of the project;
Providing an estimate of the project’s capital costs, operating costs, as well as sustaining costs;
Providing a conceptual economic model of the project over the life-of-mine;
The PEA is scheduled to be completed and filed in the first quarter of 2019.
Bruce Durham, President and CEO, commented "The commencement of the Lone Mountain PEA marks another major step forward for the Company following completion and filing of the Inferred Mineral Resource Estimate in September of this year. This will be a pivotal phase for Nevada Zinc as we fast-track the development of the Lone Mountain Project as a zinc chemical compounds and oxide concentrate project. Our shareholders are uniquely positioned to benefit from the potential increase in zinc chemical compounds demand throughout North American markets.”
Don Christie, CFO and Director, stated "The PEA will provide us with a solid base from which we will be able to communicate the economic characteristics of the Lone Mountain Project and we expect this to be a very exciting and rewarding time for Nevada Zinc.”
About Nevada Zinc
Nevada Zinc is a discovery driven mineral exploration company with a proven management team focused on identifying unique mineral exploration opportunities that have the potential to provide significant economic value to its shareholders.
The current focus of the Company is the development of the Lone Mountain Zinc Project comprised of 231 claims covering over 1,619 hectares (4,000 acres) near Eureka, Nevada.
The Lone Mountain Project is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are available. The Project includes options, leases or purchase agreements to acquire 100% interests in all properties along the entire key structural trend which extends for more than four kilometres.
Bruce Durham P.Geo, President and CEO of Nevada Zinc is a Qualified Person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release.
The Company has completed 85 reverse circulation drill holes and 13 core drill holes . Results from the drill programs have shown numerous broad intersections of medium to high grade, non-sulphide, zinc mineralization in two locations both of which are located between surface and a depth of approximately 250 metres, most of which may potentially be mined using open pit methods.
Additional information about the Company is available on the Company’s website: www.nevadazinc.com
For further information contact:
Nevada Zinc Corporation
Suite 1660, 141 Adelaide St. West
Toronto, Ontario M5H 3L5
Bruce Durham, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX enture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.