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Zinc One Reports Final Drill Results from Mina Grande Centro, Bongara Zinc Mine Project, Peru
Drill Hole Intersection of 28.1 Metres of 24.1% Zinc
November 15, 2018 12:15 AM EST | Source: Zinc One Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2018) - Zinc One Resources Inc. (TSXV: Z) (OTC Pink: ZZZOF) (FSE: RH33) ("Zinc One" or the "Company") is pleased to announce the drill results from the remaining unreported holes in the Mina Grande Centro zone, Bongará Zinc Mine project located in north-central Peru. These holes delineated the northern and western perimeters of mineralization previously mined. MGC18051 intercepted 24.1% zinc over a length of 28.1 metres, or 19.9 vertical metres, was the best intercept of those drill holes reported herein and defined continuity of mineralization in the northeastern sector.
Dr. Bill Williams, Interim CEO of Zinc One commented, "These Mina Grande Centro results give us a better perspective of the deposit geometry and size. After drilling 64 holes for 2,237 metres in this sector, we have outlined the extent of the mineralization not mined to the north, west, and south and demonstrated that high-grade zinc mineralization is open to the northeast and east. We expect this sector to make an important contribution to the overall resource estimate."
Discussion of Results
Mina Grande Centro is a part of one of the three zones of high-grade, near-surface zinc-oxide mineralization along a 1.4 kilometre mineralized trend that was tested by this drill program, which consisted of 264 holes for 7,931 metres. These zones - Mina Grande, Mina Chica, and Bongarita - were drilled on a nominal 35-metre spacing, which defined each deposit in three of the cardinal directions. Currently, an application to delineate the mineralization encountered by this overall drill program as well as explore proximal areas is being reviewed by the Ministry of Mines.
At Mina Grande Centro, most of the area drilled was remediated by the previous operator so delineation of mined mineralization was vital to the size and geometry of the zinc deposit today for resource estimate and development purposes.
The results from drill holes MGC18047 through MGC18064 at Mina Grande Centro can be found below in Table 1. A detailed map titled "Drilling and Pit/Surface Sampling at Mina Grande Centro" can be found on the Company website at www.zincone.com.
Table 1: Mina Grande Centro Drill Results
| Drill hole | Easting | Northing | Azimuth | Inclination | Total depth | From (m) | To (m) | Total (m) | True vertical thickness (m) | Zn (%) |
| MGC18047 | 171303 | 9368108 | 90 | -45 | 30.50 | 21.0 | 27.0 | 6.0 | 4.2 | 23.7 |
| MGC18048 | 171300 | 9368112 | 0 | -45 | 24.00 | 17.5 | 24.0 | 6.5 | 4.6 | 33.5 |
| MGC18049 | 171299 | 9368144 | 0 | -90 | 31.50 | 12.7 | 16.5 | 3.8 | 3.8 | 14.7 |
| MGC18050 | 171299 | 9368144 | 90 | -45 | 28.00 | 11.5 | 13.5 | 2.0 | 1.4 | 39.3 |
| MGC18051 | 171297 | 9368142 | 180 | -45 | 37.50 | 7.5 | 35.6 | 28.1 | 19.9 | 24.1 |
| MGC18052 | 171262 | 9368136 | 0 | -90 | 29.60 | 16.5 | 19.4 | 2.9 | 2.9 | 33.0 |
| MGC18053 | 171262 | 9368136 | 45 | -45 | 28.50 | | No intercepts of interest | | ||
| MGC18054 | 171260 | 9368135 | 315 | -45 | 25.00 | | No intercepts of interest | | ||
| MGC18055 | 171262 | 9368100 | 0 | -90 | 28.50 | 1.5 | 10.5 | 9.0 | 9.0 | 20.3 |
| MGC18056 | 171262 | 9368100 | 45 | -45 | 31.70 | | No intercepts of interest | | ||
| MGC18057 | 171260 | 9368100 | 315 | -45 | 24.00 | 1.9 | 4.7 | 2.8 | 2.0 | 17.2 |
| | | | | | | 9.3 | 11.7 | 2.4 | 1.7 | 35.7 |
| MGC18058 | 171232 | 9368079 | 0 | -45 | 19.50 | 3.0 | 7.2 | 4.2 | 3.0 | 19.0 |
| MGC18059 | 171232 | 9368079 | 0 | -90 | 21.00 | 3.0 | 10.0 | 7.0 | 7.0 | 19.3 |
| MGC18060 | 171230 | 9368078 | 270 | -45 | 37.00 | 28.2 | 30.6 | 2.4 | 1.7 | 24.3 |
| MGC18061 | 171253 | 9368066 | 315 | -45 | 21.00 | | No intercepts of interest | | ||
| MGC18062 | 171256 | 9368068 | 45 | -45 | 36.50 | | No intercepts of interest | | ||
| MGC18063 | 171253 | 9368013 | 0 | -90 | 18.00 | 2.9 | 9.7 | 6.8 | 6.8 | 20.8 |
| MGC18064 | 171253 | 9368013 | 180 | -45 | 22.00 | | No intercepts of interest | | ||
Project Geology
The zinc mineralization at the Bongará Zinc Mine project is classified as a Mississippi Valley-type deposit and is mostly hosted by strongly dolomitized brecciated limestones that are stratabound. The mineralization can also occur as tabular bodies with irregular boundaries, which is a characteristic of that mineralization encountered along the periphery of breccias, especially at Mina Chica. Hydrozincite (zinc oxide mineral), smithsonite (zinc carbonate mineral), hemimorphite (zinc silicate mineral), and a zinc-aluminum-iron silicate are the primary zinc minerals that are hosted by soils, dolomitized breccias, heavily-weathered fractured and vuggy dolomitized limestones, and fine- to coarse-grained dolomitized limestones.
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, if soil or 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 values exceed 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'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 over six kilometres to the NNW and where past drilling intercepted various near-surface zones with high-grade zinc as well.
Additional Information
Monica Hamm
VP, Investor Relations
Zinc One Resources Inc.
Phone: (604) 683-0911
Email: mhamm@zincone.com
www.zincone.com
Forward-Looking Statements
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.