BRIEF-Canadian Zinc says identified an error in life-of-mine economic model
Sept 14 (Reuters) - Canadian Zinc Corp
* Says identified an error in life-of-mine economic model included in its 2016 preliminary feasibility study
* Error caused an overstatement in gross smelter revenue to $3.7 billion from $3.3 billion, over projected 17-year life of prairie creek mine
* Says gross metal value of production (using same assumptions) remains unchanged
* Says royalties and taxes payable also reduce by $153 million over projected life of mine
* Says notwithstanding reduction in revenue, revised financial results remain "strongly positive"
* Says revised financial model yields a pre-tax npv of $284 million at an 8% discount rate, with an irr of 23%
* Says "long term outlook for lead and zinc remains very positive" Source text for Eikon: Further company coverage:
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