InZinc Announces Expanded Exploration Program at Indy Project, BC
03 Juni 2019 - 3:00PM
InZinc Mining Ltd. (TSX-V: IZN) (the
“
Company”) announces an expanded 2019 exploration
program at the Indy zinc project (100% option) located 100km
southeast of Prince George in central British Columbia.
Near-surface, Sedex-type mineralization was discovered by initial
drilling at soil geochemical Anomaly B in the summer of 2018 and an
additional zinc-in-soil geochemical anomaly was acquired by staking
in Q3 2018. To date, four large soil geochemical anomalies
with an aggregate length of 4.0 km occur on the property and remain
to be drill tested.
The 2019 exploration program will include
extensive soil geochemical programs, commencing in mid-June, to
expand, define and prioritize these targets for drilling. Up
to 1,000 soil samples will be collected and analyzed from the
following areas:
|
Geochemical Anomaly |
Length (strike) |
|
Anomaly B |
1.5km |
|
Anomaly C |
700m - open |
|
Anomaly D |
1.0km - open |
|
Action |
800m - open |
With a large claim position (25km strike), new
discoveries of shallow mineralization and extensive geochemical
anomalies remaining to be tested, the Indy project provides
multiple opportunities for new discoveries of a sedimentary hosted
exhalative (Sedex) type deposit in an accessible and unexplored
region of central British Columbia.
2018 Drill Program Identified New Zone
of Near Surface Mineralization
The 2018 drill program, the Company’s first
drill program at Indy, discovered shallow Sedex-style
mineralization at the new B-9 zone at Anomaly B, including
high-grade massive sulphide mineralization in holes IB18-009 and
IB18-003 which are 250m apart and remain open for further
exploration (see News Release NR18-07 and NR18-06):
Hole IB18-009
- 12.33% Zn, 2.98% Pb, and 24.46 g/t Ag (14.98% ZnEq) over 6.29m
at 60m below surface
Hole IB18-003 (low core recovery)
- 9.26% Zn, 2.43% Pb and 17.98 g/t Ag (11.38% ZnEq) over 3.05m at
23m below surface
Hole IB18-008
- 5.76% Zn, 0.48% Pb and 3.41 g/t Ag (6.18% ZnEq) over 6.73m at
56m below surface
Note: Drilled intersections are apparent widths only. ZnEq
calculation: metallurgical studies have not been completed and
assumes 100% metallurgical recovery using Zn prices at $1.10/lb.,
Pb at $.80/lb. and Ag at $15/oz – all $US.
Grant of Stock Options
InZinc announces the grant of incentive stock
options to certain directors, officers and consultants to purchase
a total of 2,350,000 common shares of the Company for a period of
three (3) years at an exercise price of $0.05 per share effective
May 31, 2019. These stock options will vest over the next 12
months.
About InZinc
InZinc is focused on growth in zinc through
exploration and expansion of the advanced stage West Desert project
(100%) in Utah and exploration of the early stage Indy project
(100% option) in British Columbia. West Desert has a large
underground resource open for expansion and has district scale
exploration potential. A West Desert preliminary economic
assessment completed in 2014 forecasted 1.6 billion pounds of zinc
production over 15 years. Byproducts would include copper,
magnetite and indium, the latter being identified by the United
States in 2017 as a critical mineral. West Desert is well located
with easy access and existing infrastructure. The Indy
project comprises near surface discoveries, large untested
exploration targets and regional discovery potential. Indy is
readily accessible by road from Prince George, the major hub for
transportation and heavy industry in central British Columbia and
is located 85km south of the Canadian National Railway.
InZinc Mining Ltd.
Wayne Hubert_____________________________Chief Executive
Officer
For further information
contact:Phone: 604.687.7211
Joyce Musial Website:
www.inzincmining.com
Vice President, Corporate Affairs
Phone: 604.317.2728
Email: joyce@inzincmining.com
Qualified PersonBrian McGrath,
B.Sc., P.Geo. a Qualified Person as defined in NI43-101, has
approved the technical content of this news release.
Quality Assurance/Quality
ControlDrill core was collected from the drill site and
delivered to the Indy Camp by InZinc staff. The core was logged,
sample intervals were outlined and photographic records were
collected. Core samples were split using a diamond saw at the camp
with one-half of the core submitted for assay and the other half
stored in wooden core boxes on site. The sawn core was bagged in
individually marked plastic sample bags and shipments were compiled
in labelled rice bags. Core shipments were delivered by InZinc
contract geologists to Bandstra Transportation Systems Ltd. in
Prince George, B.C. for furtherance to MS Analytical Services in
Langley, B.C., Canada for analysis. Samples were prepared by MS
Analytical and analyzed by ICP-AES and ICP-AES/MS. In addition to
the labs QA/QC procedures, InZinc inserted a standard, blank or
field duplicate every tenth sample. The results from the QA/QC
samples were within industry norms.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains forward-looking
statements and forward-looking information (collectively,
“forward-looking statements”) within the meaning of applicable
Canadian and US securities legislation. All statements, other than
statements of historical fact, included herein including, without
limitation, statements regarding the Company’s next shareholder
meeting. Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will
prove to be correct. Forward-looking statements are typically
identified by words such as: believe, expect, anticipate, intend,
estimate, plan, design, postulate and similar expressions, or are
those, which, by their nature, refer to future events. The Company
cautions investors that any forward-looking statements by the
Company are not guarantees of future results, performance, or
actions and that actual results and actions may differ materially
from those in forward-looking statements as a result of various
factors, including, but not limited to, those risks and
uncertainties disclosed in the Company’s Management Discussion and
Analysis for the year ended December 31, 2018 filed with certain
securities commissions in Canada and other information released by
the Company and filed with the appropriate regulatory agencies. All
of the Company's Canadian public disclosure filings may be accessed
via www.sedar.com and readers are urged to review these materials,
including the technical reports filed with respect to the Company's
mineral properties.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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