Business
ScoZinc Establishes Gypsum Offtake & Provides a Corporate Update
Halifax, Nova Scotia--(Newsfile Corp. - November 1, 2021) - ScoZinc Mining Ltd. ( TSXV: SZM ) ...
About this update from Edm Resources Inc
[{"type":"text","content":"ScoZinc Establishes Gypsum Offtake & Provides a Corporate UpdateHalifax, Nova Scotia--(Newsfile Corp. - November 1, 2021) - ScoZinc Mining Ltd. (TSXV: SZM) (\"ScoZinc\" or the \"Company\") is pleased to announce that it has established a non-binding gypsum offtake agreement (the \"Gypsum Offtake\") with a Nova Scotian end buyer for the life of mine supply of Gypsum from its wholly-owned and permitted Scotia Mine (\"Scotia Mine\") located in Nova Scotia, Canada.ScoZinc's President and CEO, Mr. Mark Haywood, stated: \"We are very pleased to secure a third and significant revenue stream opportunity for our Scotia Mine that will be incorporated into our forthcoming Pre-Feasibility Study update. As described in our news release of March 22, 2021, the inclusion of a Gypsum revenue stream is expected to improve upon the already robust economics of the Scotia Mine as determined by our 2020 Pre-Feasibility Study dated July 7, 2020.\"Gypsum is a soft sulfate mineral, composed of calcium sulfate dihydrate, and is an evaporite mineral most commonly found in layered sedimentary deposits in association with halite, anhydrite, sulfur, calcite, and dolomite. Gypsum's main uses include the manufacture of wallboard (crude Gypsum), drywall cement, plaster of Paris, soil conditioning, and as a hardening retardant in Portland cement. Gypsum is also used in fertilizer, sidewalk chalk, and in many other specialty products. The 2020 crude Gypsum market price was, on average, US$8.60/tonne.Approximately 75% of Canadian Gypsum production comes from the Province of Nova Scotia, with Gypsum mining being one of Nova Scotia′s most consistent industries for more than 100 years. The Province produced approximately 80% of the total Canadian Gypsum production, and 6% of Gypsum production worldwide. Nova Scotia is known for the quality and size of its Gypsum deposits, as well as access to economical ocean cargo transport. (Source: Nova Scotia Department of Lands and Forestry).Corporate Update:The Company is working on an updated Pre-Feasibility Study NI 43-101 Technical Report for the Scotia Mine (the \"2021 PFS\"), which will include the Gypsum material defined in the 2021 Mineral Resource Estimate (\"2021 MRE\"), as announced on March 22, 2021. The 2021 PFS will also primarily take into account the increased metal price forecasts for both Zinc and Lead, ...