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Nevada Zinc Corp.
Summary
| Project: | Lone Mountain | |
|---|---|---|
| Deposit: | Lone Mountain | |
| Location: | United States | |
| Commodities: | Zinc-Lead | |
| Date: | 2/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-2-2017: Nevada Zinc Corp. announces an Exploration/Drilling Update report for its Lone Mountain deposit at the Lone Mountain project. Independent Tech Report summarising property. The following report was prepared to provide a National Instrument 43-10 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Burga (P&E Mining Consultants Inc.) | |
| ABSTRACT: | The following report was prepared to provide a National Instrument 43-101 (NI 43-101) Technical Report on the Lone Mountain Property for Nevada Zinc Corporation (“Nevada Zinc”). The report has an effective date of January 25, 2017. Nevada Zinc is a corporation organized under the Business Corporations Act in Ontario, Canada and trading on the TSX Venture Exchange with the symbol “NZN”. The Lone Mountain Property is a base metals property that comprises 223 contiguous unpatented lode mining claims and one patented claim covering a total area of approximately 4,400 acres. The claims are located in the Eureka Mining District, of Eureka County, Nevada in southwestern USA. The Property is located approximately 300 km east of Reno, Nevada, and 28 km northwest of the town of Eureka. The centre of the Property is located at approximately 563100mE 4385250mN (UTM NAD83 Zone 11S) or Latitude 39o 36’ 53”N and Longitude 116o 15’ 54”W. The majority of the unpatented claims are held by the Owyhee Exploration II LLC, an Idaho limited liability company, and are leased to Nevada Zinc. All of the known zinc and lead mineralization identified to date by drilling is located on land leased from Owyhee Exploration II LLC or the historic patented Mountain View Mine Property which is owned by Nevada Zinc Corporation. The Owyhee lease is for a period of twenty years, subject to Nevada Zinc’s right to extend the term of the agreement for two additional terms of ten years each. Nevada Zinc has a 100% interest in the Property subject to a net smelter production royalty (NSR) that varies from 2% to 3% with certain buy-back provisions. The patented claim is subject to a 1% NSR. | |
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