First Drill Program at Indy Project in BC Intersects Shallow Zinc Mineralization
VANCOUVER, British Columbia, Nov. 01, 2018 (GLOBE NEWSWIRE) -- InZinc Mining Ltd. (TSX-V: IZN) (the “Company”) is pleased to announce initial results from its first exploration drill program at the Indy zinc project (100% option) located 100km southeast of Prince George in central British Columbia. Results include intersections from five holes of an eleven-hole drill program (1271m drilled). Additional results will be released as received. All intersections returned to date are located within 60m of surface.
|
||||||||||||||||||||||||||||||
Selected Highlights (refer to details in Table 1)
Hole IB18-002
- 4.49% Zn, 1.13% Pb and 7.32 g/t Ag (5.46% ZnEq) over 4.28m at 27m below surface
- 2.24% Zn, 0.83% Pb and 5.23 g/t Ag (2.95% ZnEq) over 5.38m at 33m below surface
- 3.50% Zn, 0.66% Pb and 4.59 g/t Ag (4.07% ZnEq) over 4.57m at 37m 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 IB18-006
- 3.88% Zn, 1.34% Pb and 8.90 g/t Ag (5.03% ZnEq) over 3.99m at 29m below surface
Note: True widths are unknown. The intersections in IB18-002 are separated by lost core/no recovery. 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.
The 2018 drill program explored the southern area of Anomaly B, an extensive 1.5km long soil geochemical zone and one of three large anomalies being advanced on the project. Recent (2018) soil surveys outline large, continuous and untested areas of high zinc in soil over a 500m by 400m area both west and northwest of this drilling. The combination of age of strata, rock types, geochemical trends, alteration and mineralization are suggestive of deformed and re-mobilized mineralization associated with a sedimentary hosted exhalative (Sedex) environment.
Anomaly B Drill Program (see Figures 5 and 6)
Holes IB18-001 to IB18-010 focused on the southeastern area of Anomaly B and generally targeted the upslope edge of soil geochemical highs established in 2017 surveys. A single hole (IB18-011) was completed 900m north of hole IB18-001.
The only rock exposure in the area is a surface zinc oxide occurrence which returned 45.5% zinc in a grab sample. Drill hole IB18-001 was collared 50m east of the zinc oxide zone and hole IB18-002 was located 100m east of the occurrence. Both holes intersected shallow zinc sulphide mineralization in relatively flat lying dolomitic rocks underlain by sericite-pyrite schists. Hole IB18-006, located 150m east of the zinc oxide occurrence, continued to explore this trend to the east and upslope. The hole was collared in black shales underlain by a sedimentary breccia and continued into thinner dolomitic rich rocks similar to sequences in holes IB18-001 and IB18-002. Hole IB18-006 ended in a thick interval of sericite-pyrite schist. Contact-related mineralization in hole IB18-006 was encountered at the base of the black shale and in contact with dolomitic rich rocks. Weaker sulphide mineralization was also intersected in silicified zones within the sedimentary breccia unit. Holes IB18-007, IB18-008 and IB18-009 continued to explore this trend (results pending).
Drill holes IB18-003 and IB18-004 were collared approximately 270m north of hole IB18-001. Hole IB18-003 intersected massive sulphide mineralization (with low core recoveries) at 22m downhole followed by highly fractured dolomite rich rock and underlain by sericite-pyrite schist. Vertical hole IB18-004 was drilled at the same location. The hole intersected weaker mineralization in similar highly fractured rock followed by sericite-pyrite schist at depth. Soil geochemical surveys suggest the mineralization encountered in these drill holes trends further to the northwest.
Anomaly B was initially outlined by the Company in 2017 with high zinc in soils returned over a 1.5km length. Infill sampling in 2018 supported drill targets. The westward expansion of the geochemical survey in 2018 (see Figure 2) outlines a strongly anomalous, continuous and untested area of zinc in soil for up to 400m downslope and 500m northwest and southeast below the 2018 drill holes (see Figure 6).
Local contractors provided all support for the drill program and access was road supported.
Emerging Geological Model
Rock types in drill core generally include from the base sequence upward; unaltered to ankeritic-siltstones, sericite-pyrite schist (with fine pyrite laminations and stringers), dolomitic lenses and breccias and variably silicified sedimentary breccias. This sequence is overlain by black shales. Deformation overprinting related to regional folding and related faulting is recognized.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/183e32f1-15d8-4261-be66-935c980c76dc
http://www.globenewswire.com/NewsRoom/AttachmentNg/d6cbe943-24d9-4052-9b96-71bcf1e80da7
Mineralization is present in all lithologies as disseminations, fracture fill vein replacements and massive sulphides. Concentration of zinc mineralization is apparent near or within contacts of favorable hosts such as carbonates and highly silicified units both of which are underlain by sericite-pyrite schists.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/0a7f7135-3de5-45f6-abec-81fc6c1f566e
http://www.globenewswire.com/NewsRoom/AttachmentNg/f893d377-5460-444a-9220-1dd45ce4ada5
Drilling to date at Anomaly B indicates a geological setting proximal to an exhalative vent complex, subsequently overprinted by folding. Many of these rock types and alteration styles are analogous to exhalative style deposits in western Canada. The combination of age of strata, rock types, geochemical trends, alteration and mineralization are suggestive of a deformed and re-mobilized sediment hosted exhalative (Sedex) environment.
Property Position Expanded
Additional lands have been acquired contiguous to the Indy claims. The property now covers approximately 24km of strike along favourable stratigraphy.
| Table 1: Indy BC - Drill Hole Intersections | |||||||||
| Drill Hole (HQ) | From (m) | To (m) | Interval (m) | Zinc (%) | Lead (%) | Silver (g/t) | ZnEq (%) | Depth Below Surface (m) | Estimated Core Recovery (%) |
| IB18-001 | 38.41 | 39.50 | 1.09 | 2.74 | 0.37 | 5.10 | 3.11 | 31 | 96 |
| IB18-002 | 35.96 | 40.24 | 4.28 | 4.49 | 1.13 | 7.32 | 5.46 | 27 | 37 |
| and | 41.77 | 47.15 | 5.38 | 2.24 | 0.83 | 5.23 | 2.95 | 33 | 40 |
| and | 49.39 | 53.96 | 4.57 | 3.50 | 0.66 | 4.59 | 4.07 | 37 | 65 |
| IB18-003 | 25.00 | 28.05 | 3.05 | 9.26 | 2.43 | 17.98 | 11.38 | 23 | 41 |
| includes | 25.00 | 26.52 | 1.52 | 16.11 | 4.08 | 32.50 | 19.72 | 16 | |
| IB18-004 | 22.26 | 23.75 | 1.49 | 2.06 | 0.48 | 3.60 | 2.48 | 23 | 43 |
| IB18-005 | Pending | ||||||||
| IB18-006 | 49.97 | 53.96 | 3.99 | 3.88 | 1.34 | 8.91 | 5.03 | 29 | 75 |
| includes | 51.10 | 52.44 | 1.34 | 8.31 | 2.80 | 18.10 | 10.71 | 67 | |
| and | 104.27 | 105.79 | 1.52 | 2.96 | 0.42 | 2.32 | 3.31 | 63 | 100 |
| includes | 104.27 | 104.70 | 0.43 | 9.30 | 1.24 | 6.72 | 10.34 | 100 | |
Note: True widths are unknown. ZnEq calculation: no metallurgical studies have 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. The intersections in IB18-002 are separated by lost core/no recovery.
| Table 2: Indy BC - Drill Hole Summary Data (see Figure 5 for Locations) | ||||||
| 2018 DDH | Zone | Azimuth | Dip | Elevation (m) | Hole Depth | |
| IB18-001 | Anomaly B South | 240 | -55 | 1079 | 117.68 | |
| IB18-002 | 240 | -55 | 1089 | 104.27 | ||
| IB18-003 | 240 | -60 | 1107 | 101.22 | ||
| IB18-004 | 240 | -88 | 1107 | 101.52 | ||
| IB18-005 | 240 | -50 | 1117 | 112.50 | ||
| IB18-006 | 240 | -55 | 1108 | 140.85 | ||
| IB18-007 | 000 | -90 | 1108 | 170.12 | ||
| IB18-008 | 000 | -90 | 1089 | 83.23 | ||
| IB18-009 | 180 | -50 | 1089 | 103.96 | ||
| IB18-010 | 180 | -50 | 1087 | 110.06 | ||
| IB18-011 | Anomaly B North | 240 | -60 | 1133 | 125.61 | |
| Total (m) | 1271.02 | |||||
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/73c4ecdd-85c9-4dfe-835e-fb1e2f0156fc
http://www.globenewswire.com/NewsRoom/AttachmentNg/191741b4-78e1-48c9-80d6-82780669c5fd
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. The West Desert deposit may represent one of the highest grade, known resources of indium in the United States (U.S. Geological Survey Professional Paper 1802-1).
Indy comprises both near surface exploration targets and regional discovery potential. Both zinc projects are well located with easy access and existing infrastructure.
InZinc Mining Ltd.
Wayne Hubert
_____________________________
| Chief Executive Officer Phone: 604.687.7211 Website: www.inzincmining.com | For further information contact: Joyce Musial Vice President, Corporate Affairs Phone: 604.317.2728 Email: joyce@inzincmining.com |
Qualified Person
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, 2017 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.
