VANCOUVER, British Columbia, June 03, 2019 (GLOBE NEWSWIRE) -- InZinc Mining Ltd. (IZN.V) (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 |
| Length |
|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):
- 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
- 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.
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.
Chief Executive Officer For further information contact:
Phone: 604.687.7211 Joyce Musial
Website: www.inzincmining.com Vice President, Corporate Affairs
Brian 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 Control
Drill 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.