Drill Hole Intersections: 39.6 Metres of 37.0% Zinc and 14.4 Metres of 40.5% Zinc
Vancouver, BC - November 7, 2018 - Zinc One Resources Inc. (TSX-V: Z; OTC Markets: ZZZOF; Frankfurt: RH33 - “Zinc One” or the “Company”) is pleased to announce additional drill results from the remaining holes in the Mina Grande Norte zone, Bongará Zinc Mine project located in north-central Peru.
Drilling was focused on the eastern edge of the zone that was mined by the previous operator and west of the high-grade zinc-oxide mineralization outlined by the pit sampling, in part resampled by Zinc One, and historical drill data. High-grade intercepts included up to 39.6 metres of 37.0% zinc from MGN18010 and 14.4 metres of 40.5% zinc from MGN18012. The drill program at Mina Grande Norte encountered multiple high-grade intercepts in the western sector and, along with the results from pit sampling, established that the mineralization covers an area of approximately 175 metres in an east-west direction and 100 metres in a north-south direction.
Dr. Bill Williams, COO of Zinc One commented, “The numerous high zinc grades associated with the Mina Grande Norte zone are spectacular and exceed our overall expectations for thickness and grade along the western edge of the deposit. They delineated the aerial and vertical extent of the high-grade mineralization and will be an important contribution to the upcoming resource estimate. The drill results at Mina Grande Norte are very encouraging and reinforce the upside potential of the Bongara project overall."
Discussion of Results
Mina Grande Norte is a part of 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, which consisted of 264 holes for 7,931 metres.
At Mina Grande Norte, earlier pit sampling did not establish the base of mineralization. As at Mina Chica, the lengthy intercepts of high-grade mineralization did not outcrop, further substantiating the untested exploration potential between these two areas.
The results from drill holes MGN18009 through 016 at Mina Grande Norte can be found below in Table 1. A detailed map titled “Drilling and Pit/Surface Sampling at Mina Grande Norte” can be found on the Company website at www.zincone.com.
Table 1: Mina Grande Norte Drill Results
|MGN18014||171047||9368302||0||-90||19.50||No intercepts of interest|
|MGN18015||171047||9368303||0||-45||19.50||No intercepts of interest|
*Preliminary coordinates; land survey pending.
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.
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’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 over six kilometres to the NNW and where past drilling intercepted various near-surface zones with high-grade zinc as well.
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.