(CBC News, 12 January 2010) -- The former Pine Point zinc and lead mine in the Northwest Territories may be brought back to life after Tamerlane Ventures Inc. starts exploratory drilling at the site next month. The company wants to look for a 50-million-tonne unmined deposit near the former mine site, based on documentation that dates back to when the original Pine Point mine existed. Tamerlane officials say they already know there is an eight-million-tonne deposit at the site, but they will now spend $300,000 to verify the larger deposit. "We know as much about it as we can without going underground to mine it," Ross Burns, the Tamerlane president and CEO, told CBC News. "We're very, very far advanced. "Tamerlane's probably one of the very few companies that has … a reserve that's got all its permits, it's got its feasibility study, it's got great infrastructure, which was left from the previous mining there." The original Pine Point mine, on the south shore of Great Slave Lake between Hay River and Fort Resolution, N.W.T., was run by Cominco Ltd. from 1964 until 1987, when it closed because of rising costs. Hay River Mayor Kelly Schofield said that he hopes Tamerlane's efforts to revive Pine Point will eventually create jobs for residents.
Posted 13 January 2010; 9:27:37 PM. Permalink