Press Coverage
Media
Western Standard
Independent Voice of the New West
March 14, 2005
Canadian Zinc Corporation
By Leonard Melman
Mining history can be fascinating and few events have impacted the mining community like the collapse of the price of silver in 1980, when it fell from over $50 per ounce to barely $5.00 in just a few days. Yet, out of that collapse has emerged one of the most interesting of all current mining ventures.
When silver plunged during that fateful period, the Hunt brothers made headlines with their efforts to corner the silver market. Most observers attribute much of silver's price rise to those efforts and it was the subsequent fall in silver's price that played a prominent role in the sudden collapse of their financial empire.
However, the Hunt brothers left behind a most unusual legacy: a mining property located in Canada's Northwest Territories that was explored, developed and brought almost to completion-but one that has never operated.
The property is known as the Prairie Creek Mine and, following the financial demise of the Hunt brothers, the property was placed into receivership in 1982. Prairie Creek then sat dormant until 1992 when San Andreas Resources Corp.-later renamed Canadian Zinc Corporation-purchased the property and resumed development of the mine and surrounding properties.
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