The project is situated approximately 17 kilometers (10.4 miles) northwest of Teck’s operating Red Dog mine, one of the world’s largest, highest grade and lowest cost zinc mines.
In 2014, a PEA has been completed that incorporated a variety of prefeasibility level studies into the analysis. These studies included resource estimation, mining and processing recovery estimates, a preliminary mining and processing plan, infrastructure layout, environmental considerations and economic analysis based on the base case parameters.
The PEA envisioned an open pit mining operation with a 5,500 ton per day floatation mill for processing resulting in a nine-year mine life. Concentrates would be handled through the DeLong Mountain Regional Transportation System (the “DMTS”) road and port system that currently handles all concentrate produced by the nearby Red Dog zinc mine of Teck.
The PEA analyzed the Lik project as a stand-alone operation and assumes construction of its own independent processing, tailings and port facilities. Alternate development scenarios might be developed utilizing infrastructure under the control of the nearby Red Dog operation. However, no agreements are in place to develop such plans and are therefore hypothetical.
As end of 2021 Solitario and Teck are in final discussions to jointly fund a 2022 exploration program, with Teck acting as project manager. The program, if approved, consists of drilling three core holes ........
