Zinc One Resources Inc. (TSXV:Z, FSE:RH33, OTC:ZZZOF) (“Zinc One” or the “Company”) is pleased to announce the results from the last 27 drill holes of the Mina Grande Sur 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 the last 27 drill holes of the Mina Grande Sur zone, Bongará Zinc Mine project located in north-central Peru. These drill holes are located in the northern sector of Mina Grande Sur. Holes identified as MGS18081 through 95 were drilled along the northern perimeter of mineralization delineating the northern extent of mineralization in the zone. Noteworthy intercepts include 18.0 metres of 36.0% zinc from MGS18077 and 11.5 metres of 32.0% zinc from MGS18080. Overall, 95 holes for a total of 2,328.4 metres have been drilled at Mina Grande Sur.
Jim Walchuck, President and CEO of Zinc One commented, “The Mina Grande Sur drill program delineated near-surface, zinc-oxide mineralization over a length of 350 metres in a north-south direction and as much as 200 metres in an east-west direction,open to the south and southwest. Along with the zinc-oxide deposit discovered at Mina Chica, we expect the success of this drill program to be manifested by a contribution to the total project’s resource estimate, which we anticipate will be completed Q4 2018.”
Mina Grande Sur Additional Drill Results Highlights:
- Results from 68 holes were reported previously (see news releases from March 29, May 7, May 29, and July 26, 2018).
- Significant new intercepts include:
- MGS18077 — 18.0 metres of 36.0% zinc, from 21.0 metres drill depth
- True vertical thickness of 15.6 metres from true vertical depth of 18.2 metres
- MCH18079 — 12.0 metres of 22.7% zinc, from surface
- True vertical thickness of 9.2 metres
- MGS18080 — 11.5 metres of 32.0% zinc, from 43.5 metres drill depth
- True vertical thickness of 8.8 metres from true vertical depth of 33.3 metres
- Mineralization at Mina Grande Sur 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 Sur is one of three known zones of high-grade, near-surface zinc-oxide mineralization along a 1.4 kilometre mineralized trend that was tested by this drill program., which consisted of 264 holes for 7,930.6 metres. All drill results from Bongarita, Mina Chica, and Mina Grande Sur have now been reported with results from Mina Grande Centro and Mina Grande Norte to 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 MGS18069 through MGS18095 at Mina Grande Sur can be found below in Table 1.
Table 1: Mina Grande Sur — Final Drill Results
|MGS18069||171350||9367805||0||-90||19.50||No intercepts of interest|
|MGS18070||171350||9367805||50||-45||27.50||No intercepts of interest|
|MGS18071||171349||9367803||230||-45||26.60||No intercepts of interest|
|MGS18075||171400||9367903||0||-90||50.00||No intercepts of interest|
|MGS18081||171467||9367940||315||-60||28.50||No intercepts of interest|
|MGS18082||171467||9367940||0||-90||51.00||No intercepts of interest|
|MGS18083||171467||9367938||225||-45||52.80||No intercepts of interest|
|MGS18084||171423||9367960||315||-60||40.50||No intercepts of interest|
|MGS18085||171423||9367960||0||-90||30.00||No intercepts of interest|
|MGS18086||171425||9367956||180||-45||20.50||No intercepts of interest|
|MGS18090||171365||9367950||315||-60||36.00||No intercepts of interest|
|MGS18091||171365||9367950||0||-90||34.50||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 and 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 National Instrument 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.