An historic lead-zinc mine outside Hay River will be revitalized, according to Darnley Bay Resources.
The company announced plans to revitalize Cominco’s historic Pine Point mine, roughly 42 km east of Hay River, last Tuesday.
The $154 million redevelopment would feature a 13-year mine life and total production of 1.35 billion lbs of zinc and 536 million lbs of lead.
“There are multiple opportunities, including underground mining, to enhance the economics and extend the project life,” said Darnley Bay President and Chief Executive Officer Jamie Levy in a press release.
“The Company plans to initiate a feasibility study in the near future while drilling to add additional resources to the mine plan.”
Darnley Bay purchased the Pine Point assets out of bankruptcy in late 2016. The property includes 42 zinc-lead deposits over a 68 km strike length.
When Cominco operated the mine, there were 64 million tonnes of ore extracted between 1964 and 1987.