| Announcement Date: | 2021-11-16 |
|---|---|
| Announcement Type: | Pre-Feasibility Study |
| Announcement Code: | NI43-101 |
| Company name: | ScoZinc Mining Ltd. |
| Project name: | Scotia Mine |
| Location: | Canada |
| Commodities: | Lead,Zinc |
| Highlight: | PFS results incl. post-tax NPV (8%) of US$128M & IRR of 65% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Halifax, Nova Scotia, November 16, 2021 – ScoZinc Mining Ltd. (TSX-V: SZM) (“ScoZinc” or the “Company”) is pleased to announce the results of its updated Pre-Feasibility Study (the “2021 PFS”) including its new Gypsum NI 43- 101 Mineral Reserve Estimate (“2020 Mineral Reserve Estimate”) for its wholly-owned and permitted Scotia Mine (“Scotia Mine” or the “Project”), located in Nova Scotia, Canada. The 2021 PFS was prepared in collaboration with the independent engineering firm MineTech International Limited, adopting the 2020 Pre-Feasibility Study completed by Ausenco Engineering Canada Inc., MineTech International Limited, SRK Consulting (U.S.), Inc., and Terrane Geoscience Inc. Highlights of the 2021 PFS are tabled below, with additional details of the NI 43-101 Technical Report (“2021 PFS”) to be filed on www.sedar.com under ScoZinc’s profile within the next 45 days. ScoZinc also currently holds five exploration licenses covering 41 claims in the immediate vicinity of the Scotia Mine Deposit. Each individual claim covers an area of approximately forty acres (16.2 hectares). In total, the 41 claims cover approximately 664 hectares (1,641 acres). These licenses are located along strike from the Scotia Mine Deposit and include favourable host rocks similar to that at the mine site. |
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