TSX: NZC $0.06  |  Ag: $22.31 US/oz  |  Zn: $1.51 US/lb  |  Pb: $1.03 US/lb

Mineral Resources

Updated Mineral Resource Estimate for the Prairie Creek Project

Effective October 15, 2021

DomainClassificationTonnesZnEq %Ag ppmPb %Zn %
Main Quartz Zone (MQV)Measured
Indicated
M & I
Inferred
903,000
5,248,000
6,152,000
3,849,000
30.3
27.7
28.0
31.4
206
181
184
207
11.2
12.0
11.9
8.4
12.9
10.3
10.7
16.7
Stockwork (STK)Measured
Indicated
M & I
Inferred
128,000
2,754,000
2,883,000
2,187,000
17.4
12.6
12.8
12.7
97
63
65
67
4.1
3.2
3.2
4.0
10.3
7.6
7.7
6.7
Stratabound Massive Sulphides (SMS)Indicated
Inferred
722,000
367,000
16.4
15.4
53
47
5.1
4.4
9.7
9.6
TOTALMeasured
Indicated
M & I
Inferred
1,031,000
8,724,000
9,755,000
6,403,000
28.7
22.0
22.7
24.1
193
133
139
150
10.3
8.6
8.8
6.7
12.6
9.4
9.7
12.9
 

Notes to table:

1. Stated at a cut-off grade of 8% ZnEq based on prices of Zn = $1.15 USD/lb, Pb = $1.00 USD/lb, Ag = $20.00 USD/troy oz.

2. Average overall processing recovery factors for the purposes of the resource estimate for Zn, Pb and Ag are 81.5%, 84.3%, and 95.1% respectively, with payables similarly as 85.0%, 94.8%, and 85.0%. Numbers may not compute exactly due to rounding.

3. ZnEq% = (Grade of Zn in %) + [(Grade of Pb in % * Price of Pb in $/lb * 22.046 * Recovery of Pb in % * Payable Pb in %) + (Grade of Ag in g/t* (Price of Ag in US$/Troy oz/ 31.10348) * Recovery of Ag in % * Payable Ag in %)]/(Price of Zn in US$/lb*22.046 * Recovery of Zn in % * Payable Zn in %). Prices used are Zn = $1.15 USD/lb, Pb = $1.00 USD/lb, Ag = $20.00 USD/troy oz, overall average LOM recoveries for Zn, Pb and Ag are 81.5%, 84.3%, and 95.1% respectively, with payables similarly as 85.0%, 94.8%, and 85.0%.

Unless otherwise indicated, all scientific and technical information relating to NorZinc’s mineral projects contained on this page has been reviewed and approved by Kerry Cupit, P. Geo., who by reason of education, membership in professional associations (as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“) and past relevant work experience, fulfills the requirements of a Qualified Person as defined in NI 43- 101. Mr. Cupit is an Exploration and Project Manager employed by NorZinc, with a B.Sc. in Earth Sciences (Geology). The information on this page is derived from results from a Preliminary Economic Assessment (“PEA”) set out in the Company’s press release dated October 21, 2021. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and led by Ausenco, with contributions from Global Mineral Resource Services, Mining Plus and F. Wright Consulting. The Technical Report for the Preliminary Economic Assessment for the Prairie Creek Project will be filed on SEDAR (www.sedar.com) within 45 days of this press release. 

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