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ScoZinc Announces New Larger Mineral Resource Estimate for Its Scotia Mine
HALIFAX, Nova Scotia, Dec. 18, 2019 (GLOBE NEWSWIRE) -- ScoZinc Mining Ltd. (TSX-V: SZM) (“ScoZinc” or the “Company”) is pleased to announce a new Mineral Resou
About this update from Edm Resources Inc
[{"type":"text","content":" HALIFAX, Nova Scotia, Dec. 18, 2019 (GLOBE NEWSWIRE) -- ScoZinc Mining Ltd. (TSX-V: SZM) (“ScoZinc” or the “Company”) is pleased to announce a new Mineral Resource Estimate (“MRE”) for its 100% owned Scotia Mine located near Halifax in the Province of Nova Scotia. The MRE was prepared by SRK Consulting (U.S.), Inc. (“SRK”). The President and CEO, Mr. Mark Haywood, stated “ScoZinc is exceptionally pleased with the results of the new mineral resource estimate by SRK. This independent estimation almost doubles our Scotia Mine’s mineral resources which represents a strong validation of our strategy that ScoZinc and its Scotia Mine has been severely under-valued by past owners and the marketplace. With SRK’s new large mineral resource determination, we are now proceeding to complete a pre-feasibility study (“PFS”) lead by Ausenco Engineering. The PFS, due in March next year, is expected to support our strong view that the Scotia Mine has the potential to become a long-term low-cost open-pit base metals producer in Nova Scotia.” Highlights: Total Measured & Indicated Resources of 25,450,000 tonnes at a Zinc equivalent grade of 2.84% (1.89% Zinc, 0.99% Lead), an increase in tonnage of 105% from previous resource estimates on the deposit. Total Inferred Resources of 5,010,000 tonnes at a Zinc equivalent grade of 2.13% (1.55% Zinc, 0.66% Lead), an increase in tonnage of 7% from the previous resource estimates on the deposit. While there have been several mineral resource estimates performed on the project by previous owners, ScoZinc considers this resource estimate a stand alone, new resource for the following reasons: Previous resource estimates were domained using a mineralized envelope (solid) within the carbonate material. Any mineralized carbonate material outside the domain was treated as zero grade carbonate waste. This had a negative impact on mine dilution. Previous production records show that most of the carbonate material from the hanging wall to the footwall contains mineralization to some degree. As a result, the approach taken with the new mineral resource was to domain the mineralization by lithology, where all composited assays inside the carbonate material were used in the block model grade interpolation. An optimized pit was then used to determine the reasonable prospects of eventual eco...