Zinc One Resources (TSXV: Z) (OTC: ZZZOF) (FSE: RH33) this morning said that a permit for 124 drill platforms has been approved by the Peruvian Ministry of Energy and Mines (“MEM”). The drill platforms are intended to serve the purpose of delineating mineral resources at the company’s Bongará Zinc Mine Project in Peru, with drilling anticipated for January 2018. The permit allows for drilling of up to three holes per platform with an average drill depth of approximately 25 metres. The results from this drill program will be utilized in advancing the Bongara Zinc Mine Project toward a Preliminary Economic Assessment (“PEA”). “This is one of the most important milestones we have reached thus far. This permit will allow the Company to drill the areas of known mineralization in the Mina Grande, Mina Chica, and Bongarita sectors and, in conjunction with the results from the ongoing surface and pit sampling, allow us to complete a resource estimate that a PEA can be based on. We are confident that we will be able to confirm the historic resource — 1Mt of 21.6% Measured and Indicated and 0.21Mt of 21.2% Inferred. This is especially significant since the Mina Chica and Bongarita sectors have never been drilled and we believe that our drill program will be able to really define the zinc-rich zones of mineralization on the Mina Chica, Bongarita and Mina Grande sectors of the project,” Zinc One president and CEO James Walchuck stated in the news release.
To view the full press release, visit http://dtn.fm/qY4zD
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 kilometers to the north-northwest 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. For more information, visit the company’s website at www.ZincOne.com.
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