Pasinex Resources Limited Intersects 16.8 Meters of 39.0% Zinc and 85.5 Grams Per Ton Silver at Its Pinargozu Zinc-Lead Proje...
June 19 2014 - 9:31AM
Pasinex Resources Limited (CSE:PSE) (FSE:PNX) is pleased to
announce the results of the first four diamond drill holes from its
50% owned Pinargozu zinc-lead project in Adana Province, Turkey.
Pinargozu is also 50% owned by Pasinex's partner in Adana, Akmetal
Madencilik San ve Tic A.Ş.
Highlight of this first phase of drilling is borehole PPU14-15
which intersected 16.80 meters of mixed oxide and sulphide
zinc/lead/silver ore grading 39.0% zinc, 1.6% lead and 85 grams per
ton silver within a total drilled length of 24.80 meters. The
difference between intersected length and drilled length is partly
accounted for by cavities within the mineralization, and partly by
poor core recovery in areas of friable ore. All assays were carried
out by SGS Turkey in Ankara on half-core prepared by Pasinex in
Adana.
Borehole PPU14-15 was drilled to test the depth extent of
massive mixed oxide/sulphide Zn/Pb/Ag mineralization exposed on the
707 level of the Pinargozu prospect while preparing a drill
location in late 2013 – subsequent mining of which on this level
has shown it to have a width of two to four meters and a length of
approximately twenty meters. Borehole PPU14-15 indicates that the
mineralization extends at least 20 meters below the 707 level
(Figure 1).
To view Figure 1: Location of Borehole PPU14-015 and existing
mine workings at Pinargozu, please visit:
http://orders.newsfilecorp.com/files/3243/10429_pasinexenhanced.jpg.
The mineralization in borehole PPU14-15 lies between marble (0m
to 13.80m) and grey limestone (44.00 to 58.00m), and is considered
to be situated at the same stratigraphic level as the zinc (with
subsidiary copper) mineralization at the neighbouring Horzum
Mine.
Table 1 below presents the detailed core recovery and analytical
results for borehole PPU14-15.
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From |
To |
Length |
Rec (%) |
Recovered Length Equivalent
(m) |
Sample_No |
Ag (g/t) |
Pb (%) |
Zn (%) |
11.00 |
12.00 |
1.00 |
89 |
|
PR1251 |
1 |
0.05 |
0.36 |
12.00 |
13.00 |
1.00 |
100 |
|
PR1252 |
1 |
0.03 |
0.46 |
13.00 |
13.80 |
0.80 |
100 |
|
PR1253 |
4 |
0.06 |
1.12 |
13.80 |
15.00 |
1.20 |
40 |
0.48 |
PR1254 |
250 |
4.24 |
32.50 |
15.00 |
15.25 |
0.25 |
56 |
0.14 |
PR1255 |
45 |
0.38 |
22.80 |
15.25 |
15.50 |
0.25 |
56 |
0.14 |
PR1256 |
304 |
7.09 |
34.40 |
15.50 |
16.00 |
0.50 |
10 |
0.05 |
PR1257 |
415 |
54.80 |
13.30 |
16.00 |
17.30 |
1.30 |
13 |
0.17 |
PR1258 |
116 |
4.80 |
5.79 |
17.30 |
17.50 |
0.20 |
13 |
0.03 |
PR1259 |
28 |
0.84 |
9.37 |
17.50 |
18.00 |
0.50 |
40 |
0.20 |
PR1260 |
29 |
2.74 |
1.61 |
18.00 |
18.25 |
0.25 |
40 |
0.10 |
PR1261 |
218 |
24.40 |
18.30 |
18.25 |
19.00 |
0.75 |
40 |
0.30 |
PR1262 |
384 |
32.90 |
16.80 |
19.00 |
19.50 |
0.50 |
87 |
0.44 |
PR1263 |
180 |
6.32 |
25.00 |
19.50 |
20.00 |
0.50 |
87 |
0.44 |
PR1264 |
130 |
1.52 |
40.50 |
20.00 |
20.50 |
0.50 |
87 |
0.44 |
PR1265 |
123 |
0.44 |
17.60 |
20.50 |
21.00 |
0.50 |
68 |
0.34 |
PR1266 |
165 |
0.77 |
12.70 |
21.00 |
21.50 |
0.50 |
68 |
0.34 |
PR1267 |
572 |
1.12 |
30.10 |
21.50 |
22.00 |
0.50 |
68 |
0.34 |
PR1268 |
396 |
0.39 |
24.20 |
22.00 |
22.50 |
0.50 |
100 |
0.50 |
PR1269 |
604 |
0.61 |
19.80 |
22.50 |
23.00 |
0.50 |
100 |
0.50 |
PR1270 |
184 |
0.47 |
38.20 |
23.00 |
23.50 |
0.50 |
100 |
0.50 |
PR1271 |
5 |
0.35 |
52.70 |
23.50 |
24.00 |
0.50 |
93 |
0.47 |
PR1272 |
14 |
0.11 |
50.60 |
24.00 |
24.50 |
0.50 |
93 |
0.47 |
PR1273 |
2 |
0.41 |
53.90 |
24.50 |
25.00 |
0.50 |
93 |
0.47 |
PR1274 |
24 |
0.18 |
45.20 |
25.00 |
25.50 |
0.50 |
73 |
0.37 |
PR1275 |
8 |
0.11 |
12.20 |
25.50 |
26.00 |
0.50 |
73 |
0.37 |
PR1276 |
5 |
0.20 |
0.89 |
26.00 |
26.30 |
0.30 |
73 |
0.22 |
PR1277 |
6 |
0.27 |
27.50 |
26.30 |
27.00 |
0.70 |
47 |
0.33 |
PR1278 |
3 |
0.43 |
40.40 |
27.00 |
27.50 |
0.50 |
47 |
0.24 |
PR1279 |
7 |
1.46 |
38.10 |
27.50 |
28.00 |
0.50 |
47 |
0.24 |
PR1280 |
40 |
0.34 |
48.20 |
28.00 |
28.30 |
0.30 |
73 |
0.22 |
PR1281 |
17 |
0.21 |
50.10 |
28.30 |
29.00 |
0.70 |
73 |
0.51 |
PR1282 |
5 |
0.24 |
50.30 |
29.00 |
29.50 |
0.50 |
73 |
0.37 |
PR1283 |
78 |
0.25 |
50.50 |
29.50 |
30.10 |
0.60 |
69 |
0.41 |
PR1284 |
5 |
0.37 |
51.60 |
30.10 |
30.35 |
0.25 |
69 |
0.17 |
PR1285 |
2 |
0.05 |
2.12 |
30.35 |
30.50 |
0.15 |
69 |
0.10 |
PR1286 |
8 |
0.23 |
51.00 |
30.50 |
31.00 |
0.50 |
69 |
0.35 |
PR1287 |
8 |
0.22 |
49.90 |
31.00 |
31.50 |
0.50 |
93 |
0.47 |
PR1288 |
5 |
0.33 |
48.80 |
31.50 |
32.00 |
0.50 |
93 |
0.47 |
PR1289 |
20 |
0.14 |
50.00 |
32.00 |
32.50 |
0.50 |
93 |
0.47 |
PR1290 |
27 |
0.20 |
48.20 |
32.50 |
33.25 |
0.75 |
48 |
0.36 |
PR1291 |
5 |
0.05 |
47.20 |
33.25 |
34.00 |
0.75 |
48 |
0.36 |
PR1292 |
3 |
0.07 |
50.60 |
34.00 |
34.50 |
0.50 |
90 |
0.45 |
PR1293 |
2 |
0.13 |
52.20 |
34.50 |
35.00 |
0.50 |
90 |
0.45 |
PR1294 |
4 |
0.19 |
51.30 |
35.00 |
35.50 |
0.50 |
90 |
0.45 |
PR1295 |
2 |
0.18 |
51.10 |
35.50 |
35.80 |
0.30 |
65 |
0.19 |
PR1296 |
9 |
0.24 |
49.90 |
35.80 |
36.30 |
0.50 |
65 |
0.33 |
PR1297 |
3 |
0.23 |
50.60 |
36.30 |
36.60 |
0.30 |
65 |
0.20 |
PR1298 |
1 |
0.16 |
2.50 |
36.60 |
37.00 |
0.40 |
100 |
0.40 |
PR1299 |
1 |
0.79 |
44.30 |
37.00 |
37.50 |
0.50 |
95 |
0.48 |
PR1300 |
1 |
0.15 |
51.10 |
37.50 |
38.00 |
0.50 |
95 |
0.48 |
PR987 |
1 |
0.10 |
49.50 |
38.00 |
38.60 |
0.60 |
95 |
0.57 |
PR988 |
1 |
0.11 |
52.20 |
Table 2 below presents the location and drilling direction of
borehole PPU14-15, as well as the other three boreholes completed
during this phase of work.
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Table
2: Summary of Diamond Drilling at Pinargozu |
|
|
|
|
|
|
|
HoleID |
Easting |
Northing |
Elevation |
Azimuth |
Dip |
Depth |
Comment |
PPU14-06 |
751765 |
4175408 |
707 |
290 |
45 |
29 |
No significant mineralisation |
PPU14-05 |
751765 |
4175408 |
707 |
330 |
45 |
69 |
No significant mineralisation |
PPU14-14 |
751765 |
4175408 |
707 |
300 |
40 |
30 |
No significant mineralisation |
PPU14-15 |
751766 |
4175408 |
707 |
65 |
35 |
58 |
Good mineralisation (Table 1.) |
Steve Williams, CEO, comments "That we have encountered such a
large accumulation of mineralization so early in our exploration of
Pinargozu is most encouraging. The fact that the
mineralization is open at depth, and at the same stratigraphic
level as the Horzum Mine, bodes well for the prospect of finding a
deposit of a similar scale at Pinargozu. The fact that
Pinargozu mineralization appears to be richer in lead and silver
than Horzum is an added bonus."
Clinton Smyth, P.Geo and VP Exploration for Pasinex, is the
qualified person as defined by National Instrument 43-101 who has
verified the written disclosure of all scientific and technical
information in this news release.
About Pasinex
Pasinex Resources Limited (CSE:PSE) is a base and precious
metal-focused exploration company with a particular initial
priority given to building a strong portfolio of base metal
opportunities in Turkey. The Company has a strong technical
management team with many years of experience in mineral
exploration and mining project development.
On Behalf of the Board of Directors PASINEX RESOURCES
LTD.
"Steve Williams" Steve Williams President/CEO
Phone: 416 861 9659 Email: info@pasinex.com
The CSE does not accept responsibility for the
adequacy or accuracy of this news release.
This news release includes forward-looking statements that are
subject to risks and uncertainties. Forward-looking statements
involve known and unknown risks, uncertainties, and other factors
that could cause the actual results of the Company to be materially
different from the historical results or from any future results
expressed or implied by such forward-looking statements.
All statements within, other than statements of historical fact,
are to be considered forward looking. Although Pasinex Resources
Ltd. believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include: the
forgoing ability to finance exploration in order to further the
Pinargozu project in 2014, the economic potential of the Pinargozu
project, further exploration drilling results, and general
economic, market or business conditions. There can be no assurances
that such statements will prove accurate and, therefore, readers
are advised to rely on their own evaluation of such uncertainties.
We do not assume any obligation to update any forward-looking
statements.
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