Canadian Zinc Corporation has entered a memorandum of understanding (MoU) with Northwest Territories Power Corporation (NTPC) to evaluate power supply opportunities for development and operation of the Prairie Creek Mine in Canada's Northwest Territories.
Under the MoU, NTPC and Canadian Zinc will assess how the power corporation can supply primary electric energy to the mine and installation of associated infrastructure necessary for electric supply.
NTPC president and CEO Emanuel DaRosa said: “NTPC is pleased to be working with Canadian Zinc to investigate how we can provide energy for the Prairie Creek Mine.
“A successful partnership would benefit all Power Corporation customers and contribute to economic development in the Northwest Territories.”
Both companies have also agreed to evaluate other sources of energy specifically Liquefied Natural Gas to generate electricity and supply it to the Prairie Creek Mine.
Currently, AMC Mining Consultants (Canada) and Ausenco Engineering Canada are conducting definitive feasibility study at the Prairie Creek Project.
A preliminary feasibility study was previously completed in March last year.
In its 17-year mine-life, at an average Prairie Creek produced approximately 60,000t of zinc concentrate and 55,000t of lead concentrate annually that contained nearly 86 million pounds of zinc, 82 million pounds of lead and 1.7 million ounces of silver.
The mine still offers high-potentiality for further project optimisation and the extension of Prairie Creek Mine life.
The mine hosts proven and probable mineral reserves of 7.60 million tonnes averaging 8.93% zinc, 8.33% lead, and 127.58g/t silver within measured and indicated mineral resources of 8.70 million tonnes grading 9.5% zinc, 8.9% lead and 136g/t silver.
In addition, the technical report has confirmed that the mine contains a large inferred mineral resource of 7.05 million tonnes grading 11.3% zinc, 7.7% lead and 166g/t silver.
Canadian Zinc owns 100% interest of the Prairie Creek Project with substantial interests in an extensive land package at central Newfoundland where it is exploring base metal deposits.