Past year: ▼ 40%(2.50c – 5.00c CAD)
Each one in plain English, with the numbers worked through for a shareholder.
25 Oct 2018resource reserve update● Neutral
The Lemarchant technical report itself, 2.2 MB, effective 20 September 2018 and prepared by Mercator Geological Services' Michael Cullen and Matthew Harrington with NorZinc's Michael Vande Guchte, filed with the SEC the day after the announcement.
24 Oct 2018resource reserve update● Neutral
The technical report behind September's Lemarchant estimate is filed. The company restates its Newfoundland strategy as either a stand-alone mine on the model of the past-producing Buchans and Duck Pond operations, or several smaller deposits processed through one central mill.
20 Sept 2018resource reserve update▲ GoodMajor
Mercator's new Lemarchant estimate, the first since 2012: 2.42 million tonnes indicated at 6.15% zinc, 1.60% lead, 0.68% copper, 1.22 g/t gold, 64.0 g/t silver and 23.5% barite, plus 0.56 million tonnes inferred, drawn from 165 holes of which 91 were drilled by the company between 2013 and 2017. Contained zinc in the indicated category is up 123% on 2012, and bench tests produced a 97.75% barite concentrate. Filed under the company's new name, NorZinc.
5 Mar 2018drilling result● Neutral
The remaining results from a large 2017 Lemarchant campaign of 48 holes for 12,422 m, which extended the Main Zone up-dip by up to 80 m over 250 m of strike and the Northwest zone by up to 50 m along strike. The headline number in this final batch is a narrow one, 14.5% copper over 0.6 m in LM17-161. A new resource estimate was promised for the first quarter of 2018.
28 Feb 2018drilling progress report▼ Bad
The 2017 Tulks South program drilled 4,961 m in 14 holes, six of them at Boomerang-Domino, and extended the deposit 50 m up-dip on one section with 3.35 m at 2.75% zinc, 2.30% lead, 0.20% copper, 70.9 g/t silver and 1.5 g/t gold. That grade is well under the 7.1% zinc of the 2007 indicated resource, which remains the estimate on the books for this deposit.
13 Nov 2017drilling result● Neutral
Two more Lemarchant holes: LM17-146 returned 2.9 m at 10.97% zinc, 1.31% copper and 1.7 g/t gold and extended the sulphide horizon 25 m up-dip, while LM17-145 found only footwall stringer mineralisation where the deposit appears to be cut by the Lemarchant thrust fault. The 2017 Main Zone total reaches 32 holes and three extensions for nearly 7,500 m, with a structural study and a resource update now under way.
6 Nov 2017resource reserve update● Neutral
The 4.6 MB NI 43-101 feasibility study technical report for Prairie Creek, effective 28 September 2017, prepared by AMC Mining Consultants with Ausenco, Global Mineral Resource Services, F. Wright Consulting and Allnorth, filed in full.
28 Sept 2017resource reserve update▲ GoodMajor
The full feasibility study lands: mining rate up 18.5% to 1,600 tonnes a day, mill throughput up 25%, lower operating costs, power from the territorial utility with an integrated LNG supply, and an all-season road. Pre-tax net present value is $344 million at 8% with a 24% return, and $188 million at 18% after tax, over an initial 15-year life - better economics than the corrected 2016 figures of $284 million and 23%, but on a shorter mine life than the 17 years then assumed.
25 Sept 2017drilling result▲ Good
Results from the last ten holes of a 21-hole, 4,275 m summer program at Lemarchant, nine of the 21 carrying significant sulphide. The best is LM17-130 at 2.25 m grading 29.26% zinc, 1.91% copper, 168.3 g/t silver and 7.1 g/t gold. The Main Zone has now been extended up-dip by up to 80 m over 150 m of strike, and a new resource estimate was commissioned on the strength of it.
18 Apr 2017drilling result▲ GoodMajor
Ten holes and three extensions for 3,070 m pushed the Lemarchant deposit 25 to 65 m further up-dip. LM17-116 returned 6.0 m at 14.06% zinc, 6.27% lead, 1.88% copper, 382.9 g/t silver and 2.01 g/t gold, and LM17-115 7.1 m at 10.23% zinc, 148.4 g/t silver and 2.41 g/t gold.
2 Feb 2017drilling progress report● Neutral
A 5,000 m, 16-hole winter program starts at South Tally Pond, testing extensions immediately up-dip and along strike of the Lemarchant deposit and drilling a new electromagnetic target at Spencers Pond about 2 km to the southwest.
30 Jan 2017resource reserve update● NeutralMajor
AMC and Ausenco are engaged to take Prairie Creek from prefeasibility to a definitive feasibility study, expected by mid-2017. The stated reason is that talks with financial institutions confirmed a bankable study would be needed before project debt could be raised.
3 Oct 2016resource reserve update▼ BadMajor
The corrected technical report is re-filed, closing out the September disclosure. The base case now shows a pre-tax net present value of $284 million at 8% with a 23% return, and $155 million post-tax at 18%, against the $509 million and 32% published in March.
14 Sept 2016resource reserve update▼ BadMajor
An error was found in the 2016 prefeasibility study's own economic model, five and a half months after it was published: gross smelter revenue over the 17-year life had been overstated at $3.7 billion instead of $3.3 billion, because by-product metals in the primary concentrates were credited as payable when they may not be. Resources, reserves, mine plan and costs are unchanged, but the pre-tax net present value falls to $284 million from $509 million, the return to 23% from 32%, and payback stretches from three years to four.
16 May 2016resource reserve update● Neutral
The full 4.2 MB Prairie Creek prefeasibility update technical report, effective 31 March 2016 and prepared by AMC Mining Consultants with Tetra Tech, filed with the SEC together with the six qualified persons' consents.
13 May 2016resource reserve update▲ Good
The technical report behind the 2016 prefeasibility study is filed. It records a 32% rise in measured and indicated resources and a 46% rise in proven and probable reserves against the 2012 estimates, and average annual output of roughly 86 million lb zinc, 82 million lb lead and 1.7 million oz silver over an initial 17-year life.
31 Mar 2016resource reserve update▲ GoodMajor
The 2016 prefeasibility study turns the enlarged resource into a 17-year mine life, with a pre-tax net present value of $509 million at an 8% discount rate and a 32% return, or $302 million and 26% after tax, using US$1.00/lb for zinc and lead and US$19/oz silver. Planned output is about 60,000 tonnes of zinc concentrate and 55,000 tonnes of lead concentrate a year.
17 Sept 2015resource reserve update▲ GoodMajor
The 2015 underground drilling paid off in the estimate: measured and indicated resources rose 32% to 8.7 million tonnes from 6.6 million, the Main Quartz Vein indicated tonnage up 48% to 4.2 Mt at 11.6% lead, 9.2% zinc and 168 g/t silver, and stockwork indicated up 40% to 2.0 Mt. Total inferred tonnage is unchanged because vein tonnes upgraded to indicated were replaced by newly inferred stockwork, and as in March the added tonnes carry lower grades than the ones they join.
11 Aug 2015drilling result▲ GoodMajor
The final seven holes all hit mineralisation and the northernmost was the best of the year: PCU-15-72 returned 7.5 m at 33.67% zinc, 17.77% lead and 247 g/t silver in vein, then 24.5 m at 11.95% zinc, 6.92% lead and 116 g/t silver of stockwork, then a second vein over 4.5 m. PCU-15-69 gave 13.0 m at 28.15% zinc, 21.5% lead and 452 g/t silver. Mineralisation is still open to the north, into ground currently classed as inferred.
24 June 2015drilling result▲ GoodMajor
A second, previously unknown vein was found 75 m into the footwall of the Main Quartz Vein: PCU-15-62 cut 5.4 m at 19.8% zinc, 8.3% lead and 150 g/t silver, and PCU-15-65 intersected it again on the next section 50 m north. The same batch produced the program's thickest vein intercept, 8.4 m at 22.7% lead, 9.7% zinc and 226 g/t silver in PCU-15-64, and stockwork of 2.4 m at 32.7% zinc, 24.7% lead and 311 g/t silver.
9 June 2015drilling result▲ GoodMajor
Underground chip sampling on the 930 m level returned 4.4 m of true width grading 14.2% zinc, 5.6% lead and 119 g/t silver over 71.8 m of strike in the Northwest Drift, which makes the stockwork, previously treated as the lower-grade part of the deposit, look comparable to the vein. Drilling also cut the Main Quartz Vein about 300 m below the existing workings in PCU-15-59: 2.6 m at 14.82% lead, 3.95% zinc and 377 g/t silver.
5 May 2015drilling result▲ GoodMajor
All four of the first underground holes hit the Main Quartz Vein. The best, PCU-15-53, returned about 3.0 m of true width grading roughly 30% zinc, 27.5% lead and 289 g/t silver, though the release transposes the zinc and lead figures between its headline and its text. PCU-15-52 gave 5.36 m of stockwork at 11.9% zinc, 7.2% lead and 89 g/t silver. These are the grades needed to move inferred tonnes into the indicated category for the coming study update.
26 Mar 2015resource reserve update● NeutralMajor
AMC's rebuilt Prairie Creek estimate raises measured and indicated resources to 6.59 million tonnes at 10.2% zinc, 9.5% lead and 147 g/t silver from 5.43 million tonnes at 10.8%, 10.2% and 160 g/t in 2012, and inferred to 7.08 million tonnes at 11.7% zinc, 9.6% lead and 177 g/t silver from 6.24 million tonnes at 14.5%, 11.5% and 229 g/t. More tonnes at lower grades: the extra tonnage comes from 50 additional holes and underground chip sampling, and the fall in inferred grade from tighter geological constraints and a change of estimation method, not from anything found underground.
21 Oct 2014drilling result▲ Good
Eleven holes for 2,712 m extended the Long Lake massive sulphide zone up-dip, down-dip and along strike, with LL14-50 returning 1.20 m at 25.50% zinc, 5.90% lead, 1.29% copper, 189.7 g/t silver and 1.87 g/t gold and LL14-52 1.10 m at 19.56% zinc. Very high grades over one to two metres, against a deposit that holds only 0.48 million tonnes indicated.
11 Sept 2014drilling result● Neutral
Thirteen holes for 4,060 m of the planned 8,000 m Newfoundland program are done. GA14-278 returned 2.37 m at 13.23% zinc, 8.24% lead, 0.70% copper, 135.8 g/t silver and 0.67 g/t gold down-dip of the Hurricane prospect, and GA14-281 gave 2.49 m at 4.45% zinc between the Boomerang and Domino lenses; both are far narrower than the 15.3 m intercept that made Hurricane a target in the first place. Gerald Squires was appointed Newfoundland exploration manager.
24 July 2014resource reserve update● Neutral
Not new work. After the British Columbia Securities Commission reviewed the company's preliminary prospectus, Canadian Zinc re-filed its August 2012 Prairie Creek technical report to add post-tax economic figures, and re-filed the 2013 annual information form and management's discussion to match and to describe its assay and testing procedures.
18 June 2014drilling progress report● Neutral
An 8,000 m, two-rig program is announced for the Tulks South and Long Lake projects in Newfoundland, targeting the Hurricane prospect and extensions to two deposits whose estimates date from 2007 and 2012 and have not been revised since: Boomerang-Domino at 1.36 Mt indicated grading 7.1% zinc, 3.0% lead, 110 g/t silver and 1.7 g/t gold, and Long Lake at 0.48 Mt indicated grading 7.8% zinc.
29 Jan 2014drilling progress report● Neutral
An eight-to-ten hole, 3,000 m winter program starts at the Lemarchant Northwest zone, funded from the $4 million flow-through placement that closed in August 2013. The deposit's standing estimate is still the 2012 one: 1.24 Mt indicated at 5.38% zinc, 1.19% lead, 0.58% copper, 59.17 g/t silver and 1.01 g/t gold, plus 1.34 Mt inferred at lower grades.
12 Dec 2013drilling result▲ GoodMajor
In Newfoundland, 15 holes for 4,928 m extended the Northwest zone found earlier in 2013, 250 m from the Lemarchant deposit, to a 100 m strike length that is still open. The best intercept was 8.7 m at 8.21% zinc, 3.66% lead, 0.72% copper, 150.0 g/t silver and 3.24 g/t gold, with single samples of 463 g/t silver over 1.0 m and 17.5 g/t gold over 0.8 m.
9 Dec 2013drilling result▼ Bad
The 2013 Prairie Creek program was small, 1,472 m in five holes, and its main target failed: the electromagnetic anomaly found in 2012 was tested by PC-13-220 and PC-13-222 and interpreted as natural graphite in the Road River Formation rather than sulphide. The holes did return vein and stockwork mineralisation above and outside the current resource, best 5.1 m at 13.2% zinc, 8.0% lead and 144 g/t silver.
