The Toronto-headquartered company had defaulted under the agreement with Placer Mining, which was the lessor of the Bunker Hill mine, in Idaho. Quarterly lease payments of $100,000 per month were due at the end of September and on October 1.
The company now has 15 days to remedy the situation, by making the default payments.
The Bunker Hill mine was the largest producing mine in the Coeur D'Alene zinc, lead and silver mining district of northern Idaho. The company obtained the option on the property in November 2016, in hope of taking advantage of rising zinc prices through a restart of the operation.