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Solitario Exploration & Royalty Corp.
Summary
| Project: | Lik | |
|---|---|---|
| Deposit: | Lik | |
| Location: | United States | |
| Commodities: | Lead-Zinc-Silver | |
| Date: | 7/14/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-7-2017: Solitario Exploration & Royalty Corp. announces a PEA report for its Lik deposit at the Lik project. Re-issue of historic PEA in support of acquiaition. Zazu Metals Corporation (Zazu or the Company) commissioned JDS Energy & Mining, Inc. (JDS) | |
| Resources: | (Resource, Ind.): 18.11Mt @ 8.10% Zn, 2.72% Pb, 50.2g/t Ag at project | |
| CP/QP: | [Resources]: Neil Gow (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | Zazu Metals Corporation (Zazu or the Company) commissioned JDS Energy & Mining, Inc. (JDS) to prepare this Preliminary Economic Assessment (PEA) Technical Report for the Lik Deposit (the Project), located in northwestern Alaska, United States of America (USA). This Preliminary Economic Assessment was developed in accordance with National Instrument 43- 101 Standards of Disclosure for Mineral Projects (NI 43-101). JDS personnel have visited the project on several occasions, most recently on June 18, 2013. The PEA results showed that the Lik Deposit has potential economic viability based on its zinc, lead and silver resources. All currency is stated in US dollars (US$). The economic analysis modeled for the Lik Deposit as a part of this PEA revealed a pre-tax internal rate of return (IRR) of 12.5% with a net present value assuming an interest rate of 8% (NPV8%) of $69.3 million and a post-tax IRR of 9.7%, with an NPV8% of $25 million. The economic analysis determined the payback period to be five years pre-tax and 5.8 years after tax, into the nineyear mine life. Zazu is a Canadian-based exploration company formed with the acquisition of an interest in the Lik zinc/lead deposit as the basis for its formation. The Company currently holds a 50% interest in the property; Teck American, Inc. (Teck) currently holds the other 50% interest. Zazu has the right to earn an additional 30% interest in the property through spending/work commitments. Indicated and Inferred Mineral Resources, as surface mineable in-pit resources with an effective date of December 31, 2013, are shown in Table 1-1 below. Mineral Resources are reported using a 5% lead+zinc cut-off. Additional resources, also shown in Table 1-1, may extend the pit life or be mined by underground methods, but are subject to additional study and evaluation and are not considered in this PEA. The additional resources were estimated using a 7% lead+zinc cut-off. | |
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