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Solitario Zinc Corp.
Summary
| Project: | Florida Canyon | |
|---|---|---|
| Deposit: | Florida Canyon | |
| Location: | Peru | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 8/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-8-2017: Solitario Zinc Corp. announces a PEA report for its Florida Canyon deposit at the Florida Canyon project. PEA results incl. post-tax NPV (8%) of $198M, IRR of 24.7%, LOM of 12.5 years. This report was prepared as a National Instrument 43-101 (NI | |
| Resources: | (Resource, M+I): 3.303Mt @ 9.51% Zn, 1.18% Pb, 14.28g/t Ag at project | |
| CP/QP: | [Resources]: J. Pennington (SRK Consulting (US) Inc.) | |
| ABSTRACT: | This report was prepared as a National Instrument 43-101 (NI 43-101) Technical Report, Preliminary Economic Assessment (Technical Report or PEA) by SRK Consulting (U.S.), Inc. (SRK), for Votorantim Metais Holding S.A. (Votorantim) with Solitario Zinc Corp. (Solitario), (collectively, owners) on the Florida Canyon Zinc Project located in Amazonas Department, Peru (Florida Canyon or Project). The Project name was changed in 2017 from Bongará, as it was called previously, to Florida Canyon. This study represents the advancement of the Project from a 2014 Technical Report on Resources, to this 2017 PEA. Highlights of this PEA include a thirteen-year life-of-mine underground mine plan, comminution and flotation of zinc and lead concentrates at a nominal production rate of 2,500 mill throughput tonnes per day followed by dry-stack tailings storage. Site infrastructure includes line power to the site, water distribution systems, a townsite and access roads for construction and re-supply as well as for concentrate transport to the point of sale. A key development in the preparation of this PEA was the addition of new metallurgical data that provided an accurate ratio of zinc oxide to zinc sulfide. The ratio allowed block-by-block recovery to be estimated. For each block in this polymetallic (zinc-lead-silver) deposit a Net Smelter Return value was calculated, making the definition of mineable mineralization independent of material type. The deposit naturally contains a high percentage of zinc sulfide mineralization; but using the new approach, most of the transition and some of the oxide materials are also suitable for flotation processing when they carry sufficient recoverable metal. This Technical Report was prepared in support of a press release issued by the owners on August 2, 2017, in which economic results were reported. Those economic results are summarized herein. | |
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