The future of the Kootenay Zinc Corporation (CSE: ZNK) (OTCQB: KTNNF) has turned as lustrous as the metal it is mining. As zinc futures continue to climb, the company is intensifying its exploration activities at the Sully Project, located close to the shuttered Sullivan Mine, one of the world’s largest SEDEX deposits ever discovered. There are increasing indications from ground magnetic and gravity (MAG) data that ‘there is a magnetic component to the gravity masses’ surveyed, the company recently reported. Zinc, although not itself magnetic, has the peculiar property of being repelled by a magnetic field. Now, Kootenay Zinc Corporation may be on the brink of repeating the glory days of the Sullivan Mine, once operated by Canada’s largest diversified resource company, Teck Resources.
The Sullivan Mine has entered the annals of legend. Located in Kimberley, British Columbia, Canada, it was discovered in 1892 by Pat Sullivan and three other prospectors in search of lead and silver. For the four, the find turned out to be a most serendipitous jackpot. They discovered an ore body so rich that the settlement that grew up around it later saw its name changed from Mark Creek Crossing to Kimberley, after the famous diamond mine in South Africa.
Sullivan proved to be a mammoth SEDEX deposit. Sedimentary exhalative (SEDEX) deposits are created when hydrothermal fluids (basically hot water mixed with gases) cool and minerals, dissolved at the higher temperatures, are precipitated.
From the start of mining until its closure in 2001, Sullivan produced approximately 150 million tonnes of ore, including three billion ounces of silver, eight million tonnes of zinc and eight million tonnes of lead, worth, in today’s dollars, about $49 billion. The mine also produced substantial amounts of antimony, bismuth, cadmium, copper, gold, indium, iron, sulphur, tin, and tungsten. During WW1, Sullivan provided the allies with vital supplies of lead for munitions.
Zinc futures on the Chicago Mercantile exchange (CME) are especially healthy. Delivery for May 2017 is priced at $2,602.00 per tonne, rising to $2,612.00 for September, $2,617.00 for December, and $2,621.00 for April 2018. A confluence of falling supply and rising demand is driving the price appreciation. A recent Goldman Sachs report touted the metal as a ‘bullish exception among metals’, according to Bloomberg. The investment bank expects zinc prices to go up because of ‘tightening supply and robust demand in China’.
James West, in his MidasLetter report (http://nnw.fm/QKc8Y), is also bullish, given the critical use of zinc for producing galvanized steel in conjunction with the ongoing pressures to improve America’s infrastructure.
The Sully Property comprises 1,375 hectares located near Kimberley, B.C., and it overlies rocks of similar age and origin as those that host the world-class Sullivan deposit. Kootenay Zinc’s Sully Project lies 30 miles east of the Sullivan property.
Veteran geologist, Paul Ransom, who spent over 30 years working at the old Sullivan Mine, stated, “The Sully Project presents the best exploration target of Sullivan Size that I have seen in my career.”
For more information, please visit www.kootenayzinc.com.
Links
“The Sully Project presents the best exploration target of Sullivan Size that I have seen in my career.”
ZNK website: http://www.kootenayzinc.com/project
Kootenay Zinc’s Sully Project lies 30 miles east of the Sullivan property.
Midas Letter: https://www.midasletter.com/2017/03/kootenay-zinc-corp-hunts-teck-resources-ltds-sullivan-doppelganger/
“The Sully Property comprises 1,375 hectares located approximately 30 kilometres east of Kimberley, B.C” Kootenay Zinc Corp. Announces Geophysical Update on Sully Project
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