TORONTO, ONTARIO–(Marketwired – Sept. 20, 2016) – Pasinex Resources Limited (CSE:PSE,FSE:PNX) is pleased to announce that a new third adit has been opened at the Pinargozu mine, 50% owned through the Horzum AS joint venture in Turkey.
TORONTO, ONTARIO–(Marketwired – Sept. 20, 2016) –Pasinex Resources Limited (CSE:PSE,FSE:PNX) is pleased to announce that a new third adit has been opened at the Pinargozu mine, 50% owned through the Horzum AS joint venture in Turkey. The new adit has a length of 120 m and allows access to deeper lying mineralization at the 670 m level and below. Future exploration and infill drilling programs will also make use of this new underground development, which is situated proximally to a number of high-priority exploration targets. The new adit’s larger dimension can accommodate the use of bigger equipment. As a result, production at the mine has doubled from an average of around 60 tonnes per day (“tpd”) to an average of around 120 tpd in the past weeks. The material being mined is all DSO or direct shipping mineralization. The average grade in the first half of 2016 for this material was about 34 % Zn. Production statistics from lot sales in 2016 are given below in Table 1. Shown in Figure 1 is a graphic of the current mine workings at Pinargozu.
Steve Williams, President and CEO of Pasinex Resources commented: “This is a big step forward for our mine. We now have three producing adits into the side of the mountain and this has enabled us to significantly increase the production at Pinargozu. In August the mine output reached a total of 4,000 tonnes of high grade zinc mineralization (130 tpd). About half of August’s production was high grade sulphide ore from the new adit. As reported earlier the total production up to the end of July this year was 9,300 tonnes compared to a total of 11,000 tonnes in the whole year of 2015. With the production coming out of the new adit management is confident that the production will sustain a minimum level of 120 tpd over the course of the second half of 2016. On an annualized basis, Pinargozu production is targeting to reach about 25 million pounds of zinc production this year, compared to 10.4 million pounds sold in 2015. We are pleased to demonstrate the rapid expansion at Pinargozu as we develop this important zinc mine.”
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