Pine Point

Tamerlane Ventures, received positive results of its bankable feasibility study for the Pine Point project. Mineral reserves in the study includes the R-190 deposit, estimated at 1 million tones of 11.16% zinc and 5.49% lead with a cut-off grade of 5% zinc. Mining method will be underground mechanized longhole stopping.

Capital cost is estimated to be 93.4 million. The feasiblity assumes a price scenario of $1.30/lb Zn and $0.80/lb Pb. The internal rate of return and the pre-tax net present value (at 5%) are calculated to be 54% and $40.9 million respectively. The project will be developed as an underground mine and will operate 365 days per year.

Thyssen Mining has been contracted to carry out shaft sinking set-up and sinking designs, and FKC-Lakeshore, a division of Frontier-Kemper Constructors, Inc., to engineer and design complete systems and equipment related to the vertical conveyor system while working in conjunction with Thyssen Mining to design the shaft head frame.