Yukon Zinc Pushes New Silver-Zinc Mine in the Yukon Territory

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Yukon Zinc Corporation (TSX:YZC) (Vancouver, British Columbia), formerly Expatriate Resources Limited, is proceeding with exploration drilling for its Wolverine silver and zinc mining deposit, located in the promising Finlayson district in the Yukon Territory, Canada. Now known as the Yukon Silver-Zinc Project, Yukon Zinc has hired Hatch Limited (Vancouver, British Columbia) to perform a bankable feasibility study for the project and is filing for the necessary permits. Yukon Zinc expects to make a production decision on the project by the first quarter of 2006.

Initially reported by Industrialinfo.com in 1999, Expatriate had looked at developing the nearby Kudz Ze Kayah deposit with a 3,000 ton per day open pit mine, in conjunction with the Wolverine 1,250 ton per day underground mine, utilizing a common 4,250 ton per day mill and concentrator. That $150 million project configuration proved unfeasible. A second configuration to develop Wolverine in conjunction with the Logan deposit also proved unfeasible.

Today, the Wolverine deposit is being developed as a stand-alone underground mine and the owner has incorporated a used mill into the project further reducing the capital cost to around $65 million.

In December 2004, Expatriate Resources changed its name to Yukon Zinc Corporation with its focus on its Finlayson district properties. All other properties of Expatriate Resources were moved into a newly formed public company, Pacifica Resources (CA:PAX).

As zinc metal prices continue to increase reaching near five-year highs at over $1,300 per metric ton (London Metal Exchange), the development of the Yukon Silver Zinc project and other mining projects have become more attractive.

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