InZinc Mining Ltd. (TSX-V:IZN) (“InZinc” or the
“Company”) is pleased to provide results of its review with respect
to project advancement strategies at the Company’s 100% owned West
Desert zinc project in Utah. The review highlights the potential
for silver-rich zinc mineralization in addition to copper-rich zinc
mineralization in an untested area extending over 650 m east of the
WD zinc deposit. Also, the large zinc resources contained in the WD
deposit and outlined in the 2014 Preliminary Economic Assessment
remain open for expansion in several directions.
The exploration potential east of the WD deposit
is based, in part, on the presence of multiple silver rich
intersections and a high grade copper-zinc massive sulphide
intersection in historical drill hole CC-43, which was drilled
below a past-producing silver mine located 650 m east of the
deposit. As this area of exploration potential coincides with
underground development plans designed in the PEA, future drilling
will be a priority.
Maps detailing the West Desert exploration
potential can be found at this link:
http://www.globenewswire.com/NewsRoom/AttachmentNg/48a575b5-a707-4439-90dc-25f1d36a76df
Silver
Potential
Silver mineralization on the property includes
numerous surface occurrences and past producing mines collectively
described as the historic Fish Springs Mining District. The
district included several operations including the Utah Silver
mine, which produced 2.7 million ounces of silver, operated until
1950 and is located 650 m east of the WD zinc deposit. The
proximity of the Utah Silver mine to the WD zinc deposit, its
enriched precious metal content and the depth extent of this
mineralization are of key interest. Silver is not currently
included in the resources comprising the WD zinc deposit.
Silver in Historical Drill Hole
CC-43
In 1980, Utah Mines completed drill hole CC-43
which targeted the depth extension of silver mineralization at the
historic Utah Silver mine, 650 m east of the WD zinc deposit. The
drill hole intersected several silver-rich zinc zones which were
interpreted to represent the depth extension of silver
mineralization at the Utah Silver mine and the Emma-Vulcan workings
located several hundred meters further east.
Drill hole CC-43 intersections* included:
5.1 oz/t Ag, 6.8% Zn over 4.9 m
at 460 m below surface and 6.0
oz/t Ag, 1.0% Zn over 1.8 m at 690 m below
surface
Similar silver enriched mineralization has also
been intersected in drilling at the upper east portion of the WD
zinc deposit. This is highlighted by a drill hole completed in 2008
(CC08-11) which returned 7.4 oz/t Ag, 4.3% Zn over 10.8 m at 200 m
below surface. The 650 m area between the silver rich intersections
in CC-43 and the upper eastern portion of the WD zinc deposit is
untested by drilling.
Copper Rich Massive Sulphide in
Historical Drill Hole CC-43
Drill hole CC – 43 continued below the
highlighted silver rich intersections where it intersected* 7.6 m
of sulphide mineralization, with a core of massive sulphide
grading:
7.6% Zn, 3.5% Cu and 1.0 oz/t Ag
over 3.1 m at 800 m below surface
This mineralization is similar to the sulphide
mineralization comprising the WD zinc deposit but contains
considerably higher copper content (WD zinc deposit average grades
include approximately 0.22% copper). The 650 m area between the
copper-rich zinc intersection in CC-43 and the known eastern margin
of the WD zinc deposit is untested by drilling.
Exploration
Program
The Company is designing an exploration program,
incorporating wide-spaced drilling, with three objectives:
- Explore silver-rich zinc mineralization east of the WD zinc
deposit and below the Utah Silver mine
- Explore for copper and zinc rich massive sulphides east of the
WD zinc deposit
- Test for extensions of the WD zinc deposit to the east
Geophysical surveys will be an initial component
of the program, supporting target selection and corresponding drill
hole locations over the exploration area.
About
InZinc
InZinc is focused on growth in zinc through
exploration and expansion of the advanced stage West Desert project
(100%) in Utah and exploration of the early stage Indy project
(100% option) in British Columbia. West Desert has a large
underground resource open for expansion and has district scale
exploration potential. A West Desert preliminary economic
assessment completed in 2014 forecasted 1.6 billion pounds of zinc
production over 15 years. Indy comprises both near surface
exploration targets and regional discovery potential. Both zinc
projects are well located with easy access and existing
infrastructure.
InZinc Mining Ltd.
"Kerry
Curtis”
_____________________________
Kerry Curtis
|
|
|
For further
information contact: |
Chairman and |
|
|
Joyce Musial |
Interim Chief Executive
Officer |
|
|
Vice President,
Corporate Affairs |
Phone: 604.687.7211
|
|
|
Phone:
604.317.2728 |
Website:
www.inzincmining.com |
|
|
Email:
joyce@inzincmining.com |
*True widths of intersections are estimated at 70-90%.
Cautionary Note Regarding
Forward-Looking StatementsThis news release
contains forward-looking statements and forward-looking information
(collectively, “forward-looking statements”) within the meaning of
applicable Canadian and US securities legislation. All statements,
other than statements of historical fact, included herein
including, without limitation, statements regarding the Company’s
next shareholder meeting. Although the Company believes that such
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements
are typically identified by words such as: believe, expect,
anticipate, intend, estimate, plan, design, postulate and similar
expressions, or are those, which, by their nature, refer to future
events. The Company cautions investors that any forward-looking
statements by the Company are not guarantees of future results,
performance, or actions and that actual results and actions may
differ materially from those in forward-looking statements as a
result of various factors, including, but not limited to, those
risks and uncertainties disclosed in the Company’s Management
Discussion and Analysis for the year ended December 31, 2016 filed
with certain securities commissions in Canada and other information
released by the Company and filed with the appropriate regulatory
agencies. All of the Company's Canadian public disclosure filings
may be accessed via www.sedar.com and readers are urged to review
these materials, including the technical reports filed with respect
to the Company's mineral properties.
The PEA (2014) was prepared by Mine Development
Associates with contributions from International Metallurgical and
Environmental Inc. in accordance with the definitions in Canadian
National Instrument 43-101. All dollar amounts are US currency. The
PEA is considered preliminary in nature. It includes Inferred
mineral resources that are considered too speculative to have the
economic considerations applied that would enable classification as
mineral reserves. There is no certainty that the conclusions within
the PEA will be realized. Mineral resources that are not mineral
reserves do not have demonstrated economic viability. Long-term
metal prices used in the study included zinc at $1/lb, copper at
$3/lb, iron ore at $105/t (62% Fe, CFR-Tianjin), gold at $1,300/oz
and silver at $21/oz. The technical report is entitled “Technical
Report on the West Desert Zinc-Copper-Indium-Magnetite Project -
Preliminary Economic Assessment - Juab County, Utah” and is
available both at www.sedar.com and the Company’s website at
www.inzincmining.com.
Kerry M. Curtis, P.Geo. a Qualified Person as
defined in NI43-101, has approved the technical content of this
news release. Some technical content contained in this news release
is based in part on historical reports. The Qualified Person is not
responsible for the accuracy or the content of the historical
reports.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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