Vancouver, BC – November 1, 2017 - Zinc One Resources Inc. (TSX-V:Z; OTC Markets:ZZOF; Frankfurt:RH33 – “Zinc One”) is pleased to report results from an ongoing surface-sampling program at its Bongará Zinc Mine Project in north-central Peru. Highest grades include a surface channel sample (#38) with 47.73% zinc over 8.1 metres from a dolomite, a surface channel sample (#72) that yielded 25.65% zinc over 19.7 metres from a dolomite breccia, and 32.50% zinc over a 3.8-metre depth from a dolomite breccia in an exploration pit (#425).
Jim Walchuck, Zinc One President and CEO commented, “As expected, the high-grade zinc grades from this current sampling program are very encouraging and augments our opinion that the Bongarita and Mina Chica areas hold significant potential. In particular, these areas have not been drilled and that the base (footwall), outlining the depth extent of mineralization, is not well defined. The upcoming drill program should help to better define the footwall of mineralization as well as better determine the magnitude of mineralization left behind by past mining in the Mina Grande area. Overall, we anticipate that the drill program will better delineate and expand the known mineralization at the Bongará Zinc Mine Project.”
The sampling program commenced at the northern end of a 1.4 kilometre trend of known high-grade, nonsulfide zinc mineralization at or near the surface. These sampling results are in areas from the Bongarita and Mina Chica areas which were never drilled, but rather had numerous historic exploration pits, some of which were resampled. Bongarita mineralization manifests itself as a ferruginous soil with limestone and dolomite clasts that hosts copious amounts of zincite (zinc oxide) and smithsonite (zinc carbonate) mineralization. The Mina Chica mineralization is characterized by not only zinc-bearing, ferruginous soils, but zinc-bearing, fine-grained, coarse-grained, brecciated, and porous limestones and dolomites, which host zincite, smithsonite, and minor amounts of hemimorphite (zinc silicate).
Additonal sampling will continue in these areas and then will move on to the Mina Grande area, specifically Fase B and Fase C.
Zinc One anticipates the approval of its submitted application for 130 drill platforms and expects the drill program to commence shorlty thereafter. The planned program includes drillholes throughout Mina Grande, Mina Chica, and Bongarita areas. A map of the proposed program ia available on Zinc One’s website at https://zincone.com/projects/bongara-project/bongarita-mina-chica-samples/.
Geology and Results
The Bongará nonsulfide zinc mineralization is stratabound and is hosted by carbonate rocks. Field mapping and observations indicate the mineralization is essentially flat-lying across an anticlinal axis at Bongarita and dips appromximately 60o eastward along the flank of the anticline at Mina Chica. Of note is that neither area was drilled and although a few pits encountered the footwall of the mineralization, most of the pits have not penetrated the footwall. Since the true strike and dip are not certain, the sample thicknesses from the pits do not represent the true thickness of the mineralized body, which at Mina Chica apparently lies along the slope of the topography in a tabular configuration. The tables below highlight select results from Bongarita and Mina Chica. Additional maps and a summary of all results are available at https://zincone.com/projects/bongara-project/bongarita-mina-chica-samples/.
|Pit No.||Depth, m|
|Sample_ID||Zn, %||Pb, %|
|Pit No.||Depth, m|
|Sample_ID||Zn, %||Pb, %|
Sampling and Analytical Protocols
Zinc One follows a systematic and rigorous Quality Control/Quality Assurance program overseen by Zinc One’s Chief Operating Officer, Bill Williams.
Surface sampling in outcrops is a manual channel sample; in the case of pits, the sample is channeled vertically. The sample is photographed. The sample is placed into a pre-labeled, plastic bag, properly sealed, and identified with a unique sample number. At the project site, Zinc One 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 the ALS laboratory in Lima, ISO9001 certified, for preparation and assay. At the laboratory, samples are dried, crushed, pulverized and then a four-acid digestion is applied, followed by the ICP-AES analytical technique for 33 elements, including lead; zinc is assayed by the same method for values up to 30% and if zinc exceeds 30%, it is analyzed by titration methods. The laboratory also inserts blanks and standards as well as includes duplicate analyses.
About Zinc One Resources Inc.
Zinc One is focused on the acquisition, exploration and development of prospective and advanced zinc projects in mining-friendly jurisdictions. Zinc One’s key assets are the Bongará Mine and Charlotte-Bongará Zinc-Oxide Projects in north-central Peru. The Bongará Zinc-Oxide Mine Project was in production from 2007 to 2008, but shut down 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 nonsulfide zinc mineralization. High-grade nonsulfide zinc mineralization is known to outcrop between the mined area and the Charlotte-Bongará Zinc-Oxide 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 exploration geologists and engineers who have previously constructed and operated successful mining operations.
The technical content of this news release has been reviewed, verified and approved by Bill Williams, COO and Director of Zinc One, a qualified person as defined by National Instrument 43-101..
ON BEHALF OF THE BOARD OF DIRECTORS OF
ZINC ONE RESOURCES INC.
CEO and President
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 a number of 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.