Zinc One Resources Inc. (TSXV:Z, FSE:RH33, OTC:ZZZOF) — “Zinc One” or the “Company”) is pleased to announce the results from 29 of the 64 holes drilled in the Mina Grande Centro zone, Bongará Zinc Mine project located in north-central Peru.
Zinc One Resources Inc. (TSXV:Z, FSE:RH33, OTC:ZZZOF) — “Zinc One” or the “Company”) is pleased to announce the results from 29 of the 64 holes drilled in the Mina Grande Centro zone, Bongará Zinc Mine project located in north-central Peru. Noteworthy intercepts include 31.8 metres of 28.2% zinc from MGC18012 and 18.0 metres of 26.2% zinc from MGC18023. These holes tested an area of 125 metres by 50 metres along the northeastern edge of a zone previously mined and subsequently remediated. These holes demonstrated that the near-surface zinc mineralization is open to the northeast, as was indicated by historic drilling and exploration pits.
Jim Walchuck, President and CEO of Zinc One, commented, “The Mina Grande Centro drill program successfully confirmed the near-surface zinc mineralization that was left behind by previous mining activity and clearly showed that additional high-grademineralization has yet to be delineated to the northeast. Along with the zinc-oxide deposits at Mina Chica and Mina Grande Sur, we expect Mina Grande Centro to contribute to the overall resource estimate for the project anticipated to be completed duringQ4 2018.”
Mina Grande Centro Drill Results Highlights:
- Significant new intercepts include:
- MGC18012 — 31.8 metres of 28.2% zinc, from 18.0 metres drill depth
- True vertical thickness of 22.5 metres from true vertical depth of 12.7 metre
- MGC18008 — 15.0 metres of 28.9% zinc, from surface
- True vertical thickness of 15.0 metres
- MGC18023 — 18.0 metres of 26.2% zinc, from 13.5 metres drill depth
- True vertical thickness of 12.7 metres from true vertical depth of 9.5 metres
- Mineralization at Mina Grande Centro includes zinc oxides, carbonates and silicates hosted by soils, highly-weathered carbonates, and fine- to coarse-grained dolomites, most of which are brecciated.
Mina Grande Centro is a part of the Mina Grande zone, one of the three zones of high-grade, near-surface zinc-oxide mineralization along a 1.4 kilometre mineralized trend that was tested by this drill program consisting of 264 holes for 7,930 metres. Drill results at Mina Grande Norte and the remaining drill holes at Mina Grande Centro will be released in the coming weeks.
Geology and Discussion of Results
The zinc mineralization at the Bongará Zinc Mine project is classified as a Mississippi Valley-type deposit and is mostly hosted by strongly dolomitized, brecciated limestones that are stratabound. The mineralization can also occur as tabular bodies with irregular boundaries, which is a characteristic of that mineralization encountered along the periphery of breccias, especially at Mina Chica. Hydrozincite (zinc oxide mineral), smithsonite (zinc carbonate mineral), hemimorphite (zinc silicate mineral), and a zinc-aluminum-iron silicate are the primary zinc minerals that are hosted by soils, dolomitized breccias, heavily-weathered fractured and vuggy dolomitized limestones, and fine- to coarse-grained dolomitized limestones.
The results from drill holes MGC18001 through 029 at Mina Grande Centro can be found below in Table 1. A detailed map titled “Drilling and Pit/Surface Sampling at Mina Grande Centro” can be found on the Company website at www.zincone.com.
Table 1: Mina Grande Centro — Initial Drill Results
|Drill hole||Easting*||Northing*||Azimuth||Inclination||Total depth||From
|True vertical thickness (m)||Zn
|MGC18001||171461||9367968||0||-90||45.0||No intercepts of interest|
|MGC18003||171459||9367969||315||-45||27.0||No intercepts of interest|
|MGC18019||171417||9367988||0||-90||32.1||No intercepts of interest|
|MGC18021||171419||9367985||135||-45||32.5||No intercepts of interest|
|MGC18022||171391||9367991||0||-90||40.5||No intercepts of interest|
|MGC18029||171340||9368052||360||-45||27.0||No intercepts of interest|
*Preliminary coordinates; land survey pending
Sampling and Analytical Protocols
Zinc One follows a systematic and rigorous Quality Control/Quality Assurance program overseen by Dr. Bill Williams, COO and Director of Zinc One.
The sample from each core run is placed in a 60-centimetre long, plastic core box that has five columns. Core recovery, rock quality designation (“RQD”), and geologic features are logged and sample intervals, which are generally <2 metres, are chosen. Each core box is photographed and then sampled with a spatula, if soil or heavily-weathered rock, or cut with a core saw, 50% of which is placed in a sample bag and stored on site in a secure location. The Company independently inserts certified control standards, blanks, and duplicates, all of which comprise at least 20% of the sample batch, to monitor sample preparation and analytical quality. The samples are stored in a secure area until such time they are shipped to the CERTIMIN laboratory in Lima (ISO 9001 Certified) for preparation and assay. At the laboratory, samples are dried, crushed, pulverized and then a four-acid digestion is applied. This is followed by the ICP-AES analytical technique for 33 elements, including lead. The same method is used to assay zinc for values up to 20%. If zinc values exceed 20%, it is then analyzed using a titration method. The laboratory also inserts blanks and standards as well as including duplicate analyses.
The technical content of this news release has been reviewed, verified and approved by Dr. Bill Williams, COO and Director of Zinc One, a qualified person as defined by NI 43-101.
About Zinc One Resources Inc.
Zinc One is focused on the exploration and development of prospective and advanced zinc projects in mining-friendly jurisdictions. Zinc One’s key assets are the Bongará Zinc Mine Project and the Charlotte Bongará Zinc Project in north-central Peru. The Bongará Zinc Mine Project was in production from 2007 to 2008, but was closed due to the global financial crisis and concurrent decrease in the zinc price. Past production included 20% zinc grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization. High-grade, zinc-oxide mineralization is known to outcrop between the mined area and the Charlotte Bongará Project, which is nearly six kilometres to the NNW and where past drilling intercepted various near-surface zones with high-grade zinc. Zinc One is managed by a proven team of geologists and engineers who have previously constructed and operated successful mining operations.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zinc One cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zinc One’s limited operating history, its proposed exploration and development activities on the Bongará Zinc Oxide Project and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Zinc One does not undertake to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.