The Empire State Mine (“ESM”) is an underground zinc mine near the town of Gouverneur, New York State. ESM is comprised of a group of high-grade mines – ESM #4 mine which is in production, and six historic mines. ESM #4 mine restarted mining operations in January 2018 and began producing zinc concentrate in March 2018. The six former producing mines – ESM #1, #2 and #3, Hyatt, Pierrepont and Edwards – are all within a 30-mile radius of the 5,000 tons-per-day (tpd) mill.
- Location: Gouverneur, New York
- Ownership: 100%
- Property: controls more than 80,000 acres of mineral rights of which approximately 2,700 acres have both fee simple surface and mineral rights
- 1,754 acres near Gouverneur where the ESM #4 mine, mill and tailings disposal facility are located
- 703 acres in the town of Edwards, including the Edwards mine
- 242 acres covering the Pierrepont mine
- Primary metal: zinc
- Secondary metals: none
- Type of mining: underground
Following the completion of a Preliminary Economic Assessment in September 2017 (“2017 PEA”) and Titan Mining’s initial public offering (“IPO”) in October 2017, rehabilitation and refurbishment activities began at the ESM #4 mine and the mill, in preparation for the restart of operations in early 2018. Mill commissioning was completed and first ore was hoisted in late January 2018.
Focus on organic cash flow growth:
- New mine plan in H1/19 – target 3,000 tpd / 150 million pounds zinc per year near-term, with ESM #4 mine and #2D zone
- Fill the mill – target 5,000 tpd / 225 million pounds zinc per year medium-term, with existing mineral resources and near-mine mineral resource additions
- Modernize the operation – improve efficiencies and lower costs
Leveraging Excess Capacity through Exploration Success