History

History

The Pine Point Project, now owned by Pine Point Mining Limited, is in the Northwest Territories. First discovered in the late 19th century, Pine Point was an active open-pit mining operation between 1965 and 1988, producing and shipping 10,785,000 tonnes of lead and zinc concentrates from high-grade ores.

During its operating period, the town of Pine Point was built by Cominco, and when production ended, Cominco closed the town. Today, the time is right to develop and potentially resume mining operations and could supply the modern world with the zinc and lead it needs for the energy transition.

 

 

The 2022 PEA update still shows a very robust zinc project with viable economic metrics including an indicated an after-tax NPV of $602M and an IRR of 25%. and specifies that the project is amenable to open pit and shallow underground mining. Please refer to the technical report entitled “Preliminary Economic Assessment, Pine Point Project, Hay River, Northwest Territories, Canada” dated July 30, 2022, which has been filed on SEDAR.

The updated 2024 Mineral Resource Estimate that was announced on June 25, 2024. It estimates the mineral resource base to be used in the feasibility study includes 49.5Mt of Indicated Mineral Resources grading 5.52% ZnEq and 8.3Mt of Indicated Mineral Resources grading 5.64% ZnEq of Inferred Mineral Resources.

The site has key supporting infrastructure including paved highway access, an electrical substation, and 100 kilometres of viable haulage roads.

The global push towards decarbonization to combat climate change has led to an unprecedented shift towards metals required for energy transition such as zinc and lead. Pine Point Mining Limited is well poised to become a top ten global zinc concentrate producer, and the Pine Point Project also has a high potential for mineral resource expansion.

Zinc is a critical metal and Pine Point is a strategic source of clean zinc concentrate for North America’s secure supply chain.