Pine Point plans spelled out by new owners

Tamerlane Ventures received a warm reception Tuesday when it laid outplans to revive thedefunct Pine Point lead-zinc mineduring a meeting in Hay River.

Tamerlane, headed by formerGiant Mine bossMargaret Kent,wants to conduct a pilot project at the site this summer, sinking a shaft and digging up a million tonnes of ore.

The Washington-based companypurchased the old N.W.T. mine onthe south shore of Great Slave Lake, between Hay River and Fort Resolution, in 2006.

Hay Riverbusinessman Rocky Simpsonsaid he supports the test mine proposed by the company.

"I think it's time we had something positive, and this is a project that could be real and could be importantfor Hay River, and the reserve and Fort Resolution," he said. "Things here have been slow, waiting on the pipeline, on the bridge."

The company hopes to begin its pilot project atPine Point this summer,employing up to 70 people.

If themine is reopened, it would create an estimated 150 jobs.

The company believes strong world demand for lead and zinc should keep prices high.