Business
Bunker Mining Hill Provides Corporate Update
TORONTO, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to provide a corporate update, including
About this update from Bunker Hill Mining Corp
[{"type":"text","content":" TORONTO, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to provide a corporate update, including a status update on project and financing activities. Sam Ash, CEO stated: “We are pleased to provide a corporate update to our investors. With strong progress made to date on our key milestones, we are now focused on completing our project financing initiatives, including equity, offtake financing and the advancement of the Stream in order to fund the remaining activities for the restart of the Bunker Hill Mine.” CORPORATE UPDATE Since its last operational update of December 13, 2022, the Company has continued to progress a number of key milestones. Underground activities post ‘breakthrough’ to the 6-Level, which enables access to mineralization down to the 8-Level, work commenced on completion of the ventilation drift and final rehabilitation of the 6-Level. This milestone is now approximately 90% complete. On surface, clearance of the yard space required for the construction of the new 1800 ton-per-day process plant has also advanced, including abatement, building demolition, removal of scrap and rubble, and foundation extraction. The Company estimates this milestone is approximately 60% complete, with the former plant building largely demolished but with remaining foundations to be removed and material to be hauled off site to designated waste depots. Work has also advanced on mine planning, engineering and permitting. The completion of detailed engineering required to commence construction of the process plant, including crushing, conveying and load out facilities, will allow for a smooth transition to construction. In detail this includes geotechnical studies, engineering design packages, and expenditures by the Company’s procurement and construction management partner, Strike Group. This milestone is approximately 70% complete, with most of the engineering having advanced towards Issued for Building and Issued for Construction drawings. The Company has temporarily paused discretionary project and procurement activities until the completion of its financing initiatives detailed below. Primarily due to the inability to procure certain long-lead items that were planned to be ordered by February 2023, and longer estimated delivery times thereof, the Company now expect...