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Zinc One Reports High-Grade Zinc Results from 2018 Drill Program at its Bongará Mine Project, Peru
Over 9 Metres of 43.6% Zinc at Mina Grande Sur1 / Over 7 Metres of 25.3% Zinc at Bongarita1
Initial Drill Results Highlights:
Mina Grande Sur
• A total of 542.9 metres completed from 33 holes (11 platforms x 3 holes each) and results for 11 drill holes reported herein.
• Mineralization at Mina Grande Sur includes zinc oxides, carbonates and silicates.
• 1Significant intercepts include:
o MGS18001 – 5.5 metres of 26.1% zinc, starting at 3.0 metres drill depth
o MGS18003 – 4 metres of 32.5% zinc, starting at surface
o MGS18003 – 15 metres of 21.5% zinc, starting at 15.0 metres drill depth
o MGS18004 – 9.1 metres of 43.6% zinc, starting at surface
o MGS18006 – 14.1 metres of 32.8% zinc, starting at surface
• A total of 587.2 metres completed from 36 holes (12 platforms x 3 three holes each) in an area approximately 100 metres x 150 metres and results from 13 drill holes are reported herein.
• Mineralization at Bongarita includes zinc silicates hosted exclusively by soils.
• 1Significant intercepts include:
o BO18005 ‐ 11.5 metres of 16.0% zinc, starting at surface
o BO18005 – 5.7 metres of 29.2% zinc, starting at 5.8 metres drill depth
o BO18007 – 7.0 metres of 25.3% zinc, starting at surface
Jim Walchuck, President and CEO of Zinc One commented, “The results of the drill program at Bongará are very optimistic and further demonstrate the potential of this project going forward. The Mina Grande Sur drill holes confirm the high‐grade nature of the Bongará project with many of these intercepts starting at or near surface. Additionally, this is the first time any drilling has been done at Bongarita and the results we have received thus far have been very encouraging.
The results from the program will also contribute to the upcoming resource estimate and PEA planned for 2018. Overall, we could not be more pleased with the drill progress and results 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, erroneously referred to as baumite in a previous press release, are the primary zinc minerals that are hosted primarily by heavily‐weathered fractured dolomites and dolomite breccias. 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.
Significant results, including drill‐hole orientation and total depths for Mina Grande Sur and Bongarita can be found below in Tables 1 and 2, respectively. Although, there was no zinc mineralization found within the carbonate rocks at Bongarita as there was elsewhere along the 1.4 kilometre long trend, much of the soil drilled provided significant high‐ grade zinc results. Links to two figures pertaining to the drill program are included below. The first is a link to a plan map of Mina Grande Sur showing the current and proposed drill holes and the second is a plan map of Bongarita again showing completed and proposed drill holes. Both maps also include the recent channel and pit sampling locations previously reported.
Figure 1. Bongará Project ‐ Mina Grande Sur
Figure 2. Bongará Project ‐ Bongarita
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 (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 approximately 30% 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 ALS 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.
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. The Company’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.
1 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.
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