11.2 Metres of 24.7% Zinc and 4.5 Metres of 36.1% Zinc
Vancouver, British Columbia--(Newsfile Corp. - May 29, 2018) - Zinc One Resources Inc. (TSXV: Z) (OTC Pink: ZZZOF) (FSE: RH33) ("Zinc One" or the "Company") is pleased to announce additional results from its drill program at the southern area of the Mina Grande Sur zone, part of the Bongará Zinc Mine project located in north-central Peru. Drilling in this area of Mina Grande Sur has been focused on the delineation of near-surface, high-grade mineralization. To date, results from 50 drill holes for a total of 803.6 metres at Mina Grande Sur have been reported with results from the 45 remaining holes to follow upon receipt. The drill program at Mina Grande Sur has now been completed and included a total of 2,328.4 metres from 95 holes (see map below in Figure 1.). Results of the drill program will contribute to the overall understanding of the area and provide data in support of the upcoming technical report expected to be released in Q3 2018.
Jim Walchuck, President and CEO of Zinc One commented, "These results from the completed drill program at Mina Grande Sur continue to demonstrate that the Bongará Zinc Mine project is an exceptional zinc-rich deposit. We fully expect that the data collected from Mina Grande Sur will become part of the upcoming resource calculation for the entire project. While we wait for the remaining results from Mina Grande Sur, the drill program will be focused on the Mina Grande Centro zone, where drilling has now commenced, and then continue in the Mina Grande Norte zone."
Mina Grande SurAdditionalDrill Results Highlights:
Results from 24 holes were reported previously (see news releases from March 29, 2018 and May 7, 2018).
Significant new intercepts include:
MGS18047 — 11.2 metres of 24.7% zinc, from 1.8 metres drill depth
MCH18026 — 5.5 metres of 25.0% zinc, from surface
MGS18046 — 4.5 metres of 36.1% zinc, from surface
True vertical thickness of 3.2 metres
Mineralization at Mina Grande Sur includes zinc oxides, carbonates and silicates hosted by soils, highly-weathered carbonates, and fine- to coarse-grained dolomites.
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 is being tested by this drill program. Results from the 36 holes drilled have been reported at Bongarita, which lies approximately 1.3 kilometres northwest of Mina Grande Sur. A significant high-grade zinc deposit was discovered during the drill program at Mina Chica, which is approximately 1.2 kilometres northwest of Mina Grande Sur. Results from 35 of 53 holes drilled at Mina Chica, for a total of 2,370.9 metres, have been reported to date.
Geology and Discussion of Results
The zinc mineralization at Bongará is hosted by carbonate rocks and is classified as a Mississippi Valley-type deposit. The mineralization is stratabound and is basically a tabular body with irregular boundaries. Hydrozincite, smithsonite, hemimorphite, and a zinc-aluminum-iron silicate are the primary zinc minerals that are hosted primarily by soils, heavily-weathered fractured dolomites and dolomite breccias. Given that the strike and dip of the mineralization is not known, the intercepts do not necessarily represent true thicknesses; moreover, long intercepts, e.g., MGS18-003, most likely drilled subparallel to the dip of the tabular mineralized body. At Bongarita specifically, mineralization is exclusively hosted by soils. Overall, the mineralization is focused along the axis of a doubly-plunging anticline as well as within the eastern flank of the anticline.
Table 1: Mina Grande Sur — Additional Drill Results
Drill Hole
Easting*
Northing*
Azimuth
Inclination
Total Depth
From (m)
To (m)
Total (m)
True Vertical Thickness (m)
Zn (%)
MGS18025
171600
9367660
0
-90
15.2
0.0
3.0
3.0
3.0
26.8
MGS18026
171600
9367660
45
-45
15.0
0.0
5.5
5.5
3.9
25.0
MGS18027
171598
9367658
225
-45
17.0
0.0
3.0
3.0
2.1
19.9
MGS18028
171628
9367668
0
-90
16.3
1.5
8.7
7.2
7.2
21.7
MGS18029
171628
9367668
45
-45
14,6
1,5
5.6
4.1
2.9
14.6
MGS18030
171628
9367667
225
-45
16.5
6.0
9.8
3.8
2.7
25.2
MGS18031
171635
9367711
0
-90
15.5
6.0
7.2
1.2
1.2
10.1
MGS18032
171635
9367711
90
-45
16.5
1.5
3.7
2.2
1.6
11.9
MGS18033
171632
9367712
270
-45
16.5
No intercepts of interest
MGS18034
171569
9367688
275
-60
13.5
No intercepts of interest
MGS18035
171569
9367688
0
-90
15.0
No intercepts of interest
MGS18036
171571
9367685
180
-45
12.0
No intercepts of interest
MGS18037
171561
9367714
290
-60
15.0
0.0
1.5
1.5
1.3
15.7
MGS18038
171561
9367714
0
-90
15.0
0.0
1.5
1.5
1.5
16.3
MGS18039
171562
9367711
225
-45
14.6
0.0
1.1
1.1
0.8
14.7
MGS18040
171566
9367742
315
-60
15.0
No intercepts of interest
MGS18041
171566
9367742
0
-90
12.0
No intercepts of interest
MGS18042
171566
9367742
135
-60
15.0
No intercepts of interest
MGS18043
171520
9367724
0
-90
15.0
0.0
3.0
3.0
3.0
13.0
MGS18044
171520
9367724
225
-45
15.0
3.0
5.2
2.2
1.6
14.2
MGS18045
171451
9367743
0
-90
15.0
0.0
4.5
4.5
4.5
18.1
MGS18046
171451
9367743
320
-45
15.0
0.0
4.5
4.5
3.2
36.1
MGS18047
171451
9367742
140
-60
19.5
1.8
13.0
11.2
9.7
24.7
MGS18048
171428
9367717
0
-90
15.4
No intercepts of interest
MGS18049
181428
9367717
320
-45
13.5
No intercepts of interest
MGS18050
171427
9367716
140
-60
15.2
No intercepts of interest
*Preliminary coordinates; and survey pending
Figure 1.: Drilling and Pit/Surface Sampling — Mina Grande Sur
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 (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 exceeds 20%, it is then analyzed using a titration method. The laboratory also inserts blanks and standards as well as including duplicate analyses.
Qualified Person
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.
