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Superior Lake's restart study values namesake zinc project at A$158.5M

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Superior Lake's restart study values namesake zinc project at A$158.5M

A restart study by Superior Lake Resources Ltd. for its namesake zinc-copper-gold-silver project in Ontario showed its potential to be one of the lowest cost zinc producers globally.

In an Oct. 10 release, the company said the study defined an after-tax net present value of A$158.5 million, using a 10% discount rate, with an internal rate of return of 48%.

The study estimates a 6.5-year operation, with life of mine operating costs estimated at 51 U.S. cents per pound of zinc.

Total production is pegged at 2 million tonnes, with an annual throughput of 88,000 tonnes, generating approximately 1,000 tonnes of zinc in concentrate per day.

The restart study included a maiden mineral resource estimate, using a 3% zinc cutoff, of an indicated resource of 2 million tonnes at 17.8% zinc, 0.9% copper, 0.4 g/t of gold and 33.7 g/t of silver, and an inferred resource of 152,000 tonnes at 15.4% zinc, 0.9% copper, 0.4 g/t of gold and 31.2 g/t of silver.

The restart study also used a mine scoping study and a preliminary engineering study.

Superior Lake expects the project to produce high-value, high-grade zinc and copper concentrates based on greater than 95% indicated resource, and that it has started a fully-funded definitive feasibility study, which is expected to be completed mid-2019.