NorZinc Postpones Pioneer Winter Road Construction By Up To One Year

NorZinc Ltd. (TSX: NZC) announced today that it is compelled to defer the construction of the Pioneer Winter Road by up to one year. The delay is mainly due to the firm being unable to secure the necessary approvals.

“We are very disappointed that we have been unable to agree with the regulators on how to fulfill the permitting process in a timely, predictable and transparent manner,” said CEO Rohan Hazelton. “We are committed to working with Parks Canada and the MVLWB to complete all necessary steps in the road permitting process in the coming months, with the hopes of commencing winter road construction early in the 2022-23 winter road season.”

The construction was supposed to include an all-season access road at the company’s Prairie Creek zinc-lead-silver project.

The firm said it was able to receive the necessary permits for the all-season access road from the appropriate regulatory authorities, including the Mackenzie Valley Land and Water Board and Parks Canada. As a condition to water and land use permits, the company is also required to obtain additional management plans.

“The company undertook numerous activities in accordance with the approval requirements for the [management plans] including, for example, wildlife studies,” the company’s statement read.

In May 2021, the company resumed the process hoping to secure approval in time for the scheduled winter road construction season to begin in January 2022.

As a result of the delay, the start of concentrate production expected at the end of 2024 will now be delayed by a year.

NorZinc Ltd. last traded at $0.05 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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