ScoZinc Mining Ltd.'s measured and indicated resource at its wholly owned Scotia zinc-lead mine in Nova Scotia surged 105% in tonnage.
The project hosts a measured and indicated resource of 25.5 million tonnes at a zinc equivalent grade of 2.84%.
Inferred resources climbed 7% to 5 Mt at a zinc equivalent grade of 2.13%, according to a Dec. 18 news release.
The Scotia mine is on care and maintenance, and the company intends to restart operations as soon as possible.
Optimization studies for restarting operations at the mine outlined an after-tax net present value, discounted at 8%, of C$91.4 million, a 77.4% internal rate of return and a 1.5-year payback period. A pre-feasibility study is due in March 2020.