Lithic Launches InZinc Mining Ltd. and a Renewed Focus on One of North America's Larger and Best Located Zinc Resources
18 Februar 2014 - 3:15PM
Marketwired
Lithic Launches InZinc Mining Ltd. and a Renewed Focus on One of
North America's Larger and Best Located Zinc Resources
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 18, 2014) -
Lithic Resources Ltd. (TSX-VENTURE:LTH) is pleased to announce that
it has changed its name to InZinc Mining Ltd. (the "Company"). The
Company's new name and new trading symbol "IZN" will take effect at
the start of trading on the TSX Venture Exchange on February 19,
2014, subject to Exchange approval. There is no share consolidation
and no corporate reorganization accompanying the Company's name
change.
"Our new name, InZinc Mining, reflects the Company's renewed
confidence in the economic and development potential of our 100%
owned West Desert Project in western Utah," stated Chris
Staargaard, President and CEO of InZinc. "Global zinc supply is
expected to undergo a significant decrease over the next few years
due to the planned closure of a number of large, end-of-life zinc
mines. InZinc is positioning itself to help fill that supply gap by
advancing West Desert into an efficient mid-tier zinc producer in
mining-friendly Utah."
West Desert hosts significant zinc-copper-indium resources with
associated massive, high-grade iron (magnetite) mineralization. The
Company expects to complete a Preliminary Economic Assessment (PEA)
for West Desert in the current quarter. The PEA is evaluating new
opportunities and improvements at West Desert, including a
potential additional source of revenue from significant amounts of
by-product iron (magnetite) generated from the processing of
zinc-copper-indium resources. Metallurgical testwork completed in
2013 (May 21, 2013 news release) showed that a marketable,
high-grade iron (magnetite) concentrate can potentially be produced
as a co-product with zinc and copper concentrates using cost
effective and conventional processing techniques.
The name change to InZinc Mining will not impact existing Lithic
Resources share certificates. As this is a one-for-one name change
(with no share consolidation), shareholders are not required to
tender their old certificates in exchange for new.
The technical information in this news release was reviewed by
Chris Staargaard, P.Geo., a Qualified Person as defined in
NI43-101. Technical reports concerning the West Desert project may
be found at www.inzincmining.com or on www.sedar.com.
InZinc Mining Ltd.
C.F. Staargaard, President and CEO
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 potential of the Company's mineral
projects and the Company's planned drilling and exploration
programs. 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, 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, 2012 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.
InZinc Mining Ltd.C.F. StaargaardPresident and CEO(604)
687-7211InZinc Mining Ltd.Joyce MusialCorporate Communications(604)
317-2728joyce@inzincmining.comwww.inzincmining.com
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