Pasinex Resources’ JV Reports Strong Profitability in Q3; 5.3 million Pounds of Zinc Sold Averaging 33.3% Zn

TORONTO, ON – November 28, 2016 – Pasinex Resources Limited (CSE:PSE,FSE:PNX) today announced their third quarter 2016 financial results with a strong profitability being seen in their 50% owned joint venture company Horzum AS. The following are highlights of the Horzum AS Joint Venture company sales of direct shipping material (DSO) mined from the Pinargozu mine in Turkey for both the 9-months and 3-month 2016 periods, expressed in Canadian dollars.
Steve Williams, President and CEO of Pasinex Resources Limited commented “Our advances at Pinargozu has resulted in these great results because of several factors. The recent development of the new, larger adit has positively impacted our production capabilities since it opened in late August coupled with a sharp rise in the price of zinc from around US$0.65/lb early 2016 to around US$1.25/lb now. The joint venture company is now solidly profitable. We anticipate an even better performance over the next 12 months.”
Read the full press release.
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