logo-loader

Zinc One Resources hails drill results from Mina Chica zone, which beat expectations

Last updated: 19:48 07 Jun 2018 BST, First published: 09:48 07 Jun 2018 BST

1528379449_zinc-truck-lorry
Zinc One Resources is focused on exploring for zinc in Peru

Peru-focused Zinc One Resources Inc (CVE:Z) reported more good drill results from its  high-grade zinc discovery in the Mina Chica zone at its flagship Bongara project in north-central Peru.

Notably, this high-grade area is around 200 metres long in a NW-SE direction and 120 metres wide and is open to the west.

Zinc One noted that the area has the potential to make a positive impact on the resource estimate at  the Bongara Zinc Mine, expected to be released in the third quarter of this year.

"Results from the drill programme at the Mina Chica zone surpassed our expectations and included a new high-grade zinc discovery," said Jim Walchuck, the president and chief executive.

"This is a spectacular exploration success and an excellent addition to the Zinc One story.

"Although the current drill permit precludes further drilling in the zone, there is potential to increase the size of the deposit. The company will submit a drill-permit application to delineate this discovery in the near future."

The results today are the final drill results from the Mina Chica zone, the company said, and include one hole, which drilled 21 meters (14.8 metres true vertical thickness) of 27.5% zinc.

Previously reported intercepts at the zone include 49.5 metres (35 vertical metres) of 38.7% zinc, 39 metres (27.6 true vertical metres) of 27.4% zinc, 19.8 metres of 46.8% zinc, 18 metres of 38% zinc, and 16.5 metres of 35.6% zinc,

In total, 53 drill holes for 2,370.9 metres have been drilled at the site from 18 platforms.

Mina Chica is one of three known zones of high-grade, near-surface zinc-oxide mineralisation along a 1.4km mineralised trend that is being tested by this drill programme.

Drilling at Mina Grande Centro has now begun, the firm noted.

Walchuck said the firm would use surface sampling as its primary targeting methodology to confirm and test the other prospective areas at the Bongara Zinc mine project for the next round of drilling.

At this time, he noted, the company has only tested a relatively small portion of the 6km mineralised trend.

Zinc One Resources Inc shares were unchanged on Thursday at C$0.24.

Zinc One Resources preparing for their second act with an interesting...

Zinc One Resources (CVE:Z) Independent Director Gunther Roehlig sat down with Steve Darling from Proactive Investors Vancouver to talk about the mining company looking for Silver in Peru. The company has gone through a transition period as they clean up the company to add value for...

on 3/4/19