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NorZinc sells 1% royalty over Prairie Creek mine for C$8M

TSX-listed NorZinc Ltd. closed the sale of a 1% net smelter return royalty over the company's Prairie Creek zinc-lead-silver mine in Canada's Northwest Territories to RCF VI CAD LLC for C$8 million.

The company said Dec. 23 it used the proceeds to repay a US$6 million loan plus interest to RCF.

RCF holds about 41% of the company's shares.

In late November, Parks Canada issued a water license and land use permit for NorZinc's portion of the all season access road to the Prairie Creek project, which will provide the company with constant access to Canada's national transportation network.