Pasinex Discovers High-Grade Primary Sulphide Mineralization Beneath The Main Oxide Zone at Pinargozu
TORONTO, ONTARIO--(Marketwired - Sep 7, 2016) - Pasinex Resources Ltd. (CSE:PSE)(FRANKFURT:PNX) (the "Company" or "Pasinex") today announced outstanding results from 32 underground drill holes from the Pinargozu zinc mine in Turkey. Drill hole PPU16-030 intersected 34 metres at an average grade of 35% zinc. Bonanza grade zinc intersected in some drill-holes approach the grade of pure sphalerite (zinc sulphide) mineralization. Drilling was undertaken between early March and mid-May this year. These results now clearly show zinc mineralization with high-grade sulphide roots. This has major positive implications for the exploration potential of Pinargozu.
Table 1: Summary Highlights of Drill Assay Results
| Drill Hole # | Core Length Interval Metres* | Zn Grade %** | Core Recovery %*** | From (metres) | ||||
| PPU16-018 | 9.8 | 49.4 | 58.2 | 21.6 | ||||
| PPU16-020 | 8 | 55.6 | 84.7 | 18.5 | ||||
| including | 4.9 | 62.5 | 90.8 | 21.6 | ||||
| PPU16-024 | 8.6 | 40.8 | 65.1 | 23.5 | ||||
| and | 3.3 | 54.7 | 79.7 | 45.7 | ||||
| PPU16-028 | 10 | 54.4 | 78.4 | 27 | ||||
| including | 6 | 62.3 | 88.5 | 29.6 | ||||
| PPU16-030 | 34 | 35.1 | 58.7 | 22.4 | ||||
| PPU16-031 | 19.4 | 41.4 | 53.6 | 19.1 |
* True widths have yet to be determined.
** Zinc mineralization is predominantly a mix of non-sulphide (Smithsonite) and sulphide (Sphalerite) material.
*** Grades for intervals with poor core recovery may not truly represent the complete mineralised interval.
Steve Williams, CEO of Pasinex said "This exciting discovery is a game-changer for Pasinex. We have now traced high-grade zinc mineralization deeper in the plumbing system, from the shallower weathered zone deeper into a mixed zone containing primary sulphides. We look forward to the next batch of drill results from Pinargozu as we test for new dimensions to this extraordinary zinc showing."
Figure 1: New Transition Zone Envelope
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/1068366_fig1.jpg
Please click here for a full table of assays. This drilling supports an extension beneath the main non-sulphide mineralized zone see Figure 1 above.
Some 14 of the 32 drill holes intersected mineralization above the threshold for direct shipping material. This reporting threshold is defined as three metres averaging 25% zinc. A sharp cut-off is observed between high grade mineralization and the surrounding host rock, and is typical of carbonate replacement deposits. Most encouragingly, narrow lenses of lower grade mineralization increase to thicker higher grade lenses over short distances. Drilling was undertaken from drill pads on the 690m level. Fan drilling from the underground stations was performed in both lateral and vertical planes in order to provide coverage. Only six such holes did not intersect any significant mineralization.
Figure 3: Drill Intercepts: PPU16 _018 & PPU16_020
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/1068366_fig3.jpg
Figure 4: Drill Intercepts: PPU16 _030 & PPU16_031
To view Figure 4, please visit the following link: http://media3.marketwire.com/docs/1068366_fig4.jpg
Horzum Zinc Trend (HZT)
The Pinargozu mine is located in southern Turkey . Pinargozu is one of several exploration targets along the Horzum Zinc Trend (HZT ), which hosts a series of Carbonate-Replacement-Deposit (CRD) type mineral occurrences, extending north for at least eight kilometres from the high-grade Horzum mine. The HZT has in the past been prospected and mapped to some extent but has not previously been systematically explored. Pasinex is the first to apply advanced exploration technology and CRD exploration concepts and models to the HZT district.
Quality Control and Data Verification
Samples were assayed at the SGS laboratory in Ankara. Zinc, lead and silver, assays were performed using multi-acid (4-acid) digestion/ICP-AES Package (33 Elements) - Zn (lower detection limit: 1 ppm/upper detection limit: 10,000 ppm) code ICP40B. For high grade zinc multi-acid (4-acid) digestion/AAS Package code AAS43B with detection up to 100% Zn.
Very high zinc assays are checked by ICP90Q - sodium peroxide fusion, ICP finish (detection 0.01% - 100%). Analytical accuracy and precision are monitored by the submission of blanks duplicate samples inserted at regular intervals into the sample train by Pasinex personnel. Duplicate pulp samples are sent to the ALS laboratory in Izmir as an umpire ISO-compliant check to confirm analytical accuracy. Drill-core samples were prepared at a standard non-certified facility at the Horzum Mine. External quality control on sample preparation is assured by reference to regular selection of duplicate coarse reject samples which are now sent to SGS. SGS-Ankara's quality system complies with the requirements for the International Standards ISO 9001: 2000 and ISO 17025: 1999.
Qualified Person
EurGeol, P.Geo. John Barry, a qualified person as defined by NI 43-101, has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Barry is responsible for all aspects of the work, including the quality control and data verification and has confirmed all procedures, protocols and methodologies used. Mr. Barry is a director of the Company.
About Pasinex
Pasinex Resources Ltd. (CSE:PSE)(FRANKFURT:PNX) is a metals company which is a 50% owner of the high grade Pinargozu zinc mine which is in production and, under its DSO Program, is shipping directly to zinc smelter / refiners from its mine site in Turkey. The Company has a strong technical management team with many years of experience in mineral exploration and mining project development. The mission of Pasinex is to build a mid-tier zinc company based on building a large land within a productive CRD district in Turkey.
The Pinargozu Mine is included in the 50-50 company, Horzum Arama Isletme AS (Horzum AS), which is a corporate joint venture between Pasinex and Turkish mining house, Akmetal Madencilik San ve Tic. AS (Akmetal AS). Akmetal AS is one of Turkey's largest family-owned conglomerates with the nearby past-producing Horzum zinc mine.
Visit our web site at: www.pasinex.com
On Behalf of the Board of Directors
PASINEX RESOURCES LTD.
"Steve Williams"
The CSE does not accept responsibility for the adequacy or accuracy of this news release.
This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.
All statements within, other than statements of historical fact, are to be considered forward looking. Although Pasinex Resources Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, exploration results, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
Contact
Steve Williams
President/CEO
Phone: 416.861.9659
Email: info@pasinex.com
Cathy Hume
CHF Investor Relations
Phone: 416.868.1079 ext. 231
Email: cathy@chfir.com