Highlights from the program include a surface channel sample (C-011-17) with 45.0 metres of 27.7% zinc and 4.0 metres of 30.5% zinc from an exploration pit (P285-17). All samples were located in the southern end of a 1.4-kilometre long trend of surface and near-surface zinc mineralization in the area referred to as Mina Grande Sur (formerly Fase C).
Jim Walchuck, President and CEO of Zinc One stated, “The high zinc values augment previous high-grade results from samples collected not only at Mina Grande Sur, but at Bongarita and Mina Chica also. All three zones lie within a mineralized system that has been traced for over 1.4 kilometres. The full extent of mineralization potential within this system has not been fully tested and remains open for the discovery of additional, high-grade mineralized zones.
Geology and Discussion of Results
The Bongará zinc-oxide mineralization is stratabound and hosted within carbonate rocks. The carbonate host rock at Mina Grande Sur is principally dolomite breccia and the zinc-oxide mineralization occurs in fractures and void space. It appears that the overall mineralized system occurs along and near an anticlinal fold axis and is mostly contained within a southeasterly plunging tabular body.
The sampling program commenced at the northern end of the trend of known high-grade, zinc-oxide mineralization. The results reported herein include the most recentsampling in the Mina Grande Sur area at the southern end of the trend. Thesampling in the Mina Grande Norte zone was completed in early January, with sample results expected in February 2018.
Table 1 below highlights the results from a channel with 45.0 metres of 27.7% zinc from Mina Grande Sur. Table 2 provides a summary of select pit samples from the same area. Since the true strike and dip of the stratabound mineralization is not known, the sample thicknesses from the pits do not necessarily represent the true thickness of the mineralized body. Additional maps and a summary of all results are available on the Company website at www.zincone.com.
Table 1: Mina Grande Sur – Channel Samples
Channel ID From (m) To (m) Length (m) Zn, % Pb, %
C-011-17 0.00 2.00 2.00 7.29 0.14
C-011-17 2.00 4.10 2.10 13.45 0.24
C-011-17 4.10 6.50 2.40 25.60 0.35
C-011-17 6.50 8.50 2.00 51.33 0.42
C-011-17 8.50 10.00 1.50 36.84 0.86
C-011-17 10.00 11.20 1.20 38.66 0.96
C-011-17 11.20 13.30 2.10 35.78 4.54
C-011-17 13.30 15.30 2.00 41.81 3.52
C-011-17 15.30 16.70 1.40 32.49 10.00
C-011-17 16.70 19.00 2.30 22.80 10.00
C-011-17 19.00 19.80 0.80 40.73 1.29
C-011-17 19.80 20.40 0.60 17.10 1.76
C-011-17 20.40 22.70 2.30 39.39 0.57
C-011-17 22.70 25.00 2.30 40.27 0.64
C-011-17 25.00 26.00 1.00 38.57 1.12
C-011-17 26.00 28.30 2.30 3.63 1.67
C-011-17 28.30 30.70 2.40 3.06 0.66
C-011-17 30.70 32.70 2.00 3.64 0.92
C-011-17 32.70 34.70 2.00 3.23 1.46
C-011-17 34.70 36.50 1.80 36.12 0.96
C-011-17 36.50 38.50 2.00 32.16 1.63
C-011-17 38.50 40.90 2.40 40.89 1.44
C-011-17 40.90 43.00 2.10 33.87 0.63
C-011-17 43.00 45.00 2.00 26.00 0.29
Table 2: Mina Grande Sur – Pit Samples
Pit ID From (m) To (m) Length (m) Zn, % Pb, % Thickness (m) Zn, %
P0094. 94-17 0.00 1.00 1.00 0.51 0.74
P0094. 94-17 1.00 2.00 1.00 1.12 3.45
P0094. 94-17 2.00 3.00 1.00 21.40 10.00
P0094. 94-17 3.00 4.00 1.00 12.85 1.19 2.0 17.10
P0093.94-17 0.00 1.00 1.00 1.44 0.42
P0093.94-17 1.00 2.00 1.00 2.99 3.35
P0093.94-17 2.00 3.00 1.00 40.81 3.07 1.0 40.81
P0112.86-17 0.00 1.00 1.00 20.20 1.74
P0112.86-17 1.00 2.00 1.00 29.00 1.17 2.0 24.60
P0294.95-17 0.00 1.00 1.00 2.90 1.38
P0294.95-17 1.00 2.00 1.00 40.38 1.44 1.0 40.38
P0289.95-17 0.00 1.00 1.00 18.15 1.36
P0289.95-17 1.00 2.00 1.00 32.91 1.20
P0289.95-17 2.00 3.00 1.00 21.10 0.61 3.0 24.05
P0285.95-17 0.00 1.00 1.00 2.10 1.06
P0285.95-17 1.00 2.00 1.00 3.06 3.29
P0285.95-17 2.00 3.00 1.00 37.15 1.36
P0285.95-17 3.00 4.00 1.00 31.10 1.22
P0285.95-17 4.00 5.00 1.00 30.09 1.00
P0285.95-17 5.00 6.00 1.00 23.60 1.27 4.0 30.49
P0160.94-17 0.00 1.00 1.00 42.56 1.80
P0160.94-17 1.00 2.00 1.00 37.15 2.97
P0160.94-17 2.00 3.00 1.00 35.58 1.70 3.0 38.43
P0115.86-17 0.00 1.00 1.00 28.82 1.92
P0115.86-17 1.00 2.00 1.00 40.70 1.06 2.0 34.76
P0304.95-17 0.00 1.00 1.00 35.19 0.44
P0304.95-17 1.00 2.00 1.00 24.20 0.86 2.0 29.70
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 manually collected channel sample. In the case of pits, the sample is channeled vertically. The sample is photographed, then 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. This is followed by the ICP-AES analytical technique for 33 elements, including lead. Zinc is assayed by the same method for values up to 20%. If zinc exceeds 20%, it is analyzed by titration methods. The laboratory also inserts blanks and standards as well as including duplicate analyses.
Drill Program Update
The previously announced drill program at Bongará (see News Release from December 13, 2017) is expected to commence imminently, following the December approval of 124 drill platforms by the Peruvian Ministry of Energy and Mines. Two portable drill rigs are currently being mobilized to the project site, where nearly all 15 permitted platforms at Bongarita, located at the north end of the 1.4-km long trend of zinc mineralization, have been prepared for drilling. In addition, preparation of over two dozen platforms permitted at Mina Grande Sur, in the southern end of the mineralized trend, is in progress. After drilling of these areas is completed, the rigs will move to the Mina Grande Norte and Mina Grande Centro areas, respectively.
Results of the drill program at Bongarita, Mina Chica, and Mina Grande Sur will be used to better define the thickness and lateral extent of the mineralization that was not previously delineated by the surface channel and pit sampling nor by previous drilling,. This additional work at Bongará will continue to form the basis for advancement the development timeline.
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 Projects in north-central Peru. The Bongará Zinc 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 zinc-oxide mineralization. High-grade, zinc-oxide 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 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.
VP, Investor Relations
Zinc One Resources Inc.
Phone: (604) 974-5274
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.
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