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Zinc One Resources Inc. (“Zinc One or theCompany”) is pleased to announce that it has exercised the option to acquire a 100% interest in the Bongará Zinc-Oxide Project and Charlotte Bongará Zinc-Oxide Project by making final cash payments totaling USD $1,150,000 to the optionors, thus laying the foundation for the redevelopment of the Bongará Zinc-Oxide …

Zinc One Resources Inc. (“Zinc One or theCompany”) is pleased to announce that it has exercised the option to acquire a 100% interest in the Bongará Zinc-Oxide Project and Charlotte Bongará Zinc-Oxide Project by making final cash payments totaling USD $1,150,000 to the optionors, thus laying the foundation for the redevelopment of the Bongará Zinc-Oxide Project.
Zinc One is the first company to own these projects together, which not only includes these two projects at each end of a six-kilometre long trend of known high-grade, zinc-oxide mineralization, but includes areas highly prospective for encountering additional such mineralization. The Bongará Zinc-Oxide Project will be Zinc One’s immediate focus as it believes this is the most expedient way to become a producer of zinc-oxide. Each property will continue to be subject to a modest advanced royalty and a 2% NSR on production.
“The acquisition of a 100% interest in the Bongará Zinc-Oxide Project and Charlotte Bongará Zinc-Oxide Project is another step in our path to production and the last material step in the acquisition of Forrester Metals Inc. We now fully control the concessions of two high-grade zinc projects and preparations are underway to advance the Bongará Zinc-Oxide Project” commented James Walchuck, CEO of Zinc One.
“We appreciate the progress made by Forrester management and intend to keep that momentum going while we take these projects to the next level. Our focus and our mandate is to advance the Bongará Zinc-Oxide Project as quickly possible to take advantage of what we believe is an increasing bullish zinc market. One of the many signs we observe to formulate our belief is that the LME available zinc inventory is at the lowest level since 2007. Also, there are very few zinc projects coming online globally, which supports our business plan to advance the Bongará Zinc-Oxide Project as rapidly as possible.”
About Zinc One Resources Inc.
Zinc One is focused on the acquisition, exploration and development of prospective and advanced zinc projects in mining friendly jurisdictions. Zinc One’s key assets are the past producing Bongará Zinc-Oxide Project and Charlotte Bongará Zinc-Oxide Project in Peru. The Bongará Zinc-Oxide Project was in production from 2007 to 2008, but shut down due to the global financial crisis and concurrent decrease in the zinc price. Past production show greater than 20% zinc grades and recoveries over 90%; all from at or near the surface. The neighboring Charlotte Bongará Zinc-Oxide Project has multiple near-surface, high-grade zinc-oxide drill intercepts providing numerous drill targets and exploration potential. Zinc One’s objective is to restart production at the Bongará Zinc-Oxide Project with exploration of targets along a six-kilometre trend, which includes the Charlotte Bongará Zinc-Oxide Project. Zinc One is managed by a proven team of exploration geologists and engineers having previously constructed and operated successful mining operations.
For a video presentation overview of Zinc One by CEO James Walchuck please follow this link: Zinc One Corporate Video Presentation
The technical content of this news release has been reviewed and approved by James Walchuck, CEO, President and Director of Zinc One, a qualified person as defined by National Instrument 43-101.
For more information, please visit the website at www.zincone.com or contact James Walchuck, CEO, President and Director at (604) 683-0911 or email at info@zincone.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ZINC ONE RESOURCES INC.
“signed”
_______________________
James Walchuck
CEO and President

Source: zincone.com

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