The Scotia deposit hosts three mineralized zones that together contain 25.5 million tonnes of measured and indicated resources at grades of 1.89% zinc and 0.99% lead. Another 5 million tonnes are labelled as inferred, grading 1.50% zinc and 0.66% lead.
An updated pre-feasibility in 2021 outlined an approximate 14-year mine that is capable of producing 35 million lb. of zinc and 15 million lb. of lead (estimated using five-year annual average). Post-tax, the Scotia mine would have a net present value of C$128 million (at 8% discount), with an internal rate of return of 65%. Its payback period is 1.3 years.
By securing this loan, the Scotia mine will now be “fully financed through to commercial production,” which is anticipated to commence in Q4 2023, said EDM’s president and CEO Mark Haywood in a media release.
In addition, IXM has signed offtake agreements to buy all of the zinc and lead concentrates produced at the Scotia…
