Pasinex Confirms Continuity of High-Grade Zinc at Pinargozu Mine

Pasinex Resources (CSE:PSE) reported that drilling at its Pinargozu Zinc Mine in Adana province, Turkey, continue to intersect high-grade zinc mineralization ranging between 19.5% up to 36.5% Zn. Mineralization confirmed the continuation of high-grade zinc mineralization to the north east and to the north at Pinargozu,

As quoted in the press release:

Underground development at the Pinargozu mine continues with the objective of ramping up production. Mine production of high grade direct shipping material has continued through all of 2015. The production rate for 2015, through to end of April, averaged 29 tpd or approximately 2.4 million pounds of zinc, year-to-date. The mined material has all been moved from the mine site to a warehouse in Adana (owned by Akmetal AS). There it is crushed, sized and stored pending final sale. The joint venture company Horzum AS (50 / 50 Pasinex and Akmetal AS) has increased the workforce at the Pinargozu mine site this year from around 35 people on site to over 50 people. The staff increase will assist with production from the underground mine. The immediate task is to carry out more drifting underground and mine development in general that will open up more galleries to access, mine and then transport the mined direct shipping material for ultimate sale. All of this work will feed into a maiden and compliant resource report that will be made available later next quarter.

… The following conclusions are drawn from the results of this drilling:

(1) Mineralization intersected in recent boreholes has confirmed continuation of high-grade zinc mineralization to the north east and to the north at Pinargozu, which is accessible from existing workings.

(2) Continuity of mineralization identified in bore holes PPS15_010 to PPS15_013 is very important since these holes were targeting the mineralized zone from a different angle and from a different drill site than that used for previous holes.

(3) From a total of seven surface drill holes completed since the previous press release, five intersected inferred extensions of the mineralized zone previously reported for PPS15_004 and PSS14_008, situated to the north east of recent underground development at Pinargozu Mine.

(4) Results listed in Table 1 include a 12.3 m intersection in borehole PPS15_013 grading 26.6% zinc, 19.5% zinc over a 7.2 m interval in PPS15_012 and a 4.8 m intersection grading at 21.7% zinc in borehole PSS15_007.

Pasinex Resources CEO, Steve Williams, said:

This is an exciting time for Pasinex. Drill results from our Pinargozu mine project continue to cut high-grade zinc mineralization. Several holes intercepted mineralization ranging between 19.5% up to 36.5% Zn. What is particularly encouraging is that these intercepts are all in is emerging as a new north-east extension where drilling previously cut 35.5 m of 37.7% zinc (see news release from March 25th earlier this year). We now have a number of intercepts in this area that enable us to start to work in-house on estimating a resource in this area. In the meantime, drilling continues on Pinargozu and most importantly on the nearby Akkaya exploration project which also lies along the main mineralizing trend. We expect to report on Akkaya during the summer months.

Click here to read the Pasinex Resources (CSE:PSE) press release
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