Stephan Bogner of Rockstone Research Ltd. published a note that looks at recent drill results from Pasinex Resources Ltd. (CSE:PSE). In it, he notes that they are the best results released to date from the company’s Pinargozu project.
Stephan Bogner of Rockstone Research Ltd. published a note that looks at recent drill results from Pasinex Resources Ltd. (CSE:PSE). In it, he notes that they are the best results released to date from the company’s Pinargozu project, which is a 50/50 joint venture with Turkey’s Akmetal AS.
Bogner’s note states:
One of the drills discovered awe-inspiring 38% zinc over a remarkable length of 36m. Such zinc grades are downright spectacular as being around 4 times higher than the average of existing zinc mines globally. The following graph illustrates the extraordinary quantum jump that Pasinex made since finding material with more than 30% zinc on a regular basis and mining such material profitable since 2014:
Most importantly, Pasinex has proven with yesterday’s results that the drilling success of September 2014 was not a ‘one-hit wonder’. The drill success of September was sufficient to start mining immediately.
Expanding, Bogner also notes:
The extremely high-grade zinc from Pinargozu represents a natural concentrate, a so-called DSO (‘Direct Shipping Ore’), which can be shipped/sold directly after mining and crushing. Thanks to this rare circumstance, Pasinex differentiates itself from all known zinc explorer as no costly processing facility is needed. Fortunately, Pasinex does not have to go through a time consuming and costly Feasibility Study.
This is a crucial advantage. Not to forget the Turkish partner, who probably wants to make money as fast as possible as well, and who does not see the need for a time-robbing study thanks to their decade long experience in the region. Yet Akmetal probably appreciates highly the input from Pasinex for a systematic mining plan.
In terms of what’s next for the company, he said:
The newsflow is anticipated to increase noticeable in the future as Pasinex is now exploring with 3 drill rigs at Pinargozu. Currently, more holes are drilled to find out what lies in the 50 m between those high-grade sections, both of which were discovered in 2015. A continuity of this high-grade material is imaginable and would instantly give Pinargozu an even larger resource. Already today, Pinargozu has the potential to become a second Horzum (the near-by Horzum Mine had an output of around 4 million tonnes high-grade zinc ore).
Pasinex also announced yesterday that diamond drilling started on its Akkaya Property (some 3 km to the north of Pinargozu) on March 14. Approximately 14 holes for a total of 2000 m are planned for this initial phase of drilling at Akkaya.
Pasinex Resources Limited has established a world class leadership team to explore, develop and mine promising high grade zinc-lead-silver and copper properties in mineral-rich parts of Turkey. Management has chosen to focus on areas that are within the two Anatolian Faults, running both northerly and easterly, because they host very high grade mineralized systems. Pasinex, along with Joint Venture partner Akmetal, are currently producing high grade zinc from their Horzum property.