6.29m Grading 12.33% Zinc, 2.98% Lead and 24.5 g/t Silver at 60m Below Surface
VANCOUVER, British Columbia, Nov. 13, 2018 (GLOBE NEWSWIRE) — InZinc Mining Ltd. (TSX-V: IZN) (the “Company”) announces the discovery of high grade, shallow mineralization from its first drill program at the Indy zinc project (100% option) located 100km southeast of Prince George in central British Columbia. Results from the eleven-hole drill program (1271m drilled), including intersections from the final six holes, identified a new zone of near surface mineralization called the B-9 zone.
All significant intersections returned, including those previously released (see News Release NR2018-06), are located within 60m of surface.
B-9 Zone 2018 Drilling – Selected Highlights (refer to details in Tables 1 and 2)
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 IB18-008
- 5.76% Zn, 0.48% Pb and 3.41 g/t Ag (6.18% ZnEq) over 6.73m at 56m below surface
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
*Previously released.
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 first drill program at Indy has been a success with the discovery of shallow mineralization at the new B-9 zone, including high-grade massive sulphide mineralization in holes IB18-009 and IB18-003 which remain open for further exploration. Guided by cost effective soil geochemistry in an area of no surface rock exposure, the exploration drilling provides the first important insights into the distinctive type of mineralization at the B-9 zone and underscores the unique potential of the Indy project.
Emerging Geological Model
The geological characteristics of the B-9 zone (see News Release NR2018-06) are analogous to a distinctive geological setting, termed vent-proximal, within a sedimentary hosted exhalative (Sedex) type depositional environment. Sedex type zinc deposits, the rarer exhalative “cousins” of volcanogenic massive sulphide (VMS) deposits, occur as clusters on a district scale and only within specific ages of sedimentary rock formations referred to as time horizons. The large and well-known deposits occur in the Yukon, northern and southern British Columbia, Australia and southern Africa. The Indy project is underlain by sedimentary formations correlated in age by the Geological Survey of Canada (Struik,1988) to the same time horizons hosting the Sedex deposits of northern British Columbia and the Yukon. With a large claim position (24km strike), new discoveries of shallow mineralization and extensive geochemical anomalies remaining to be tested, the Indy project provides multiple opportunities for new discoveries of this type in an unexplored region of central British Columbia. 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.
Peripheral, Large Exploration Targets Now in Focus
To date, three large soil geochemical anomalies with an aggregate length of 3.2km occur on the property (see Figure 1). Drilling at the B-9 zone (a 270m long portion of Anomaly B) indicates that soil geochemistry is a cost-effective method of targeting sub-surface mineralization. Anomalies C and D remain to be tested by drilling.
| Geochemical Anomaly | Length (strike) |
| Anomaly B | 1.5km |
| Anomaly C | 700m – open |
| Anomaly D | 1.0km – open |
Anomaly B, hosting the mineralization discovered at the B-9 zone, was sampled by the Company in 2017 with high zinc in soils outlined over a 1.5km trend. Additional infill sampling in 2018 supported the discoveries at the B-9 zone. 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.
Expansion and infill soil geochemical surveys at Anomaly C in 2018 (see Figure 1) outline an area measuring greater than 700m in length and remaining open for further sampling to the south. To date, 20% of the 147 soil samples at Anomaly C have returned greater than 1000 ppm Zn (0.1% Zn) with highs up to 6314 ppm Zn (0.63% Zn) in soil.
Initial wide spaced soil survey lines were also completed in 2018 at Anomaly D (see Figure 1). This survey indicates a “multi-trend” in an area measuring over 1km in length returning numerous high zinc (greater than 500 ppm to 2654 ppm Zn) responses in soils.
2018 Drill Program (see Figure 3 and refer to News Release NR2018-06 for descriptions and photos of previous results)
The 2018 drill program (holes IB18-001 to IB18-010) focused on the southeastern area of Anomaly B, now called the B-9 zone, and generally targeted the upslope limits of anomalous soil geochemistry over a 270m trend. The only rock exposure in this area is a surface zinc oxide (smithsonite) occurrence which returned 45.5% Zn in a grab sample. Untested soil geochemical anomalies at the B-9 zone extend over 400m downslope and 500m northwest and southeast below the 2018 drill holes. A single hole (IB18-011) was completed 900m north of hole IB18-001.
Drill Hole IB18-009
Drill hole IB18-009 was drilled from the site of IB18-002 in a southerly direction, targeting an area of high zinc in soil geochemistry 75m south of the drill site and 50m south of the multiple shallow mineralized intersections in holes IB18-001 and IB18-002 (see News Release NR2018-06). The hole commenced in siliceous polymictic sedimentary breccia until 78m downhole when sphalerite (zinc sulphide) concentrations increased and transitioned between semi-massive to massive form over the following 6.3m. Several sections of the massive sulphides are very high in zinc grade with one sample (see Figure 4) from 79.57m to 80.02m downhole grading 40.9% Zn. The mineralization occurs at a transition in geology to pyritic-sericite schists and altered siltstones. This is consistent with the location of several of the significant intersections returned from drilling at the B-9 zone. Core recoveries in the mineralization are estimated at 85%.
Figure 4: http://www.globenewswire.com/NewsRoom/AttachmentNg/9710a991-b999-49ec-9d85-01819c9378f0
Drill Hole IB18-008
Drill hole IB18-008 was drilled vertically from the site of holes IB18-002 and IB18-009. Mineralization intersected from 55.79m to 62.52m (5.76% Zn, 0.48% Pb and 3.41 g/t Ag) consists of fracture fill to semi-massive sphalerite hosted in a silica flooded sedimentary breccia. Core recoveries are estimated at 90%. This mineralization style and internal position within the sedimentary breccia sequence is consistent with similar but lower grade material located 125m to the north in hole IB18-005 and is characteristic of “feeder” style mineralization.
Figure 5: http://www.globenewswire.com/NewsRoom/AttachmentNg/7a405e1c-f31d-4e21-b109-a909ca7a1a36
Drill Holes IB18-007, IB18-005, IB18-010 and IB18-011
Hole IB18-007 was a vertical hole drilled from the same location as hole IB18-006. The hole collared in black shales and transitioned into sedimentary breccia and intercalated grey altered shales and siltstone sequences. A narrow interval grading 1.09% Zn hosted in the sedimentary breccia unit, occurred at 118m downhole.
Drill holes IB18-005 and IB18-010 were drilled in the 250m interval between the massive sulphides intersected in hole IB18-003* (9.26% Zn, 2.43% Pb and 17.98 g/t Ag over 3.05m at 23m below surface) and the mineralization in holes IB18-002, IB18-008 and IB18-009. Hole IB18-005 intersected 1.13% Zn over 2.75m at 53m downhole and within the siliceous sedimentary breccia unit. As mentioned previously, this mineralization is similar and may reflect an extension of the thicker, higher grade mineralization intersected 125m south in hole IB18-008. The lower portions of this hole were affected by loss of core recovery at the transition into pyrite-sericite schists. Hole IB18-010 was a south directed hole and intersected pyrite-sericite schists and ankeritized (carbonate altered) siltstones consistent with footwall sequences seen in other holes at the B-9 zone.
Hole IB18-011 targeted soil responses 900m to the north of hole IB18-001. Black shales, containing narrow zones of anomalous silver, comprised the entire length of the hole.
| Table 1: Indy BC – 2018 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 (%) |
| IB18-005 | 40.85 | 42.38 | 1.53 | 2.27 | 0.03 | 1.40 | 2.32 | 28 | 35 |
| and | 53.05 | 55.80 | 2.75 | 1.13 | 0.04 | 0.59 | 1.17 | 36 | 90 |
| IB18-007 | 118.00 | 119.00 | 1.00 | 1.09 | 0.17 | 1.30 | 1.24 | 118 | 85 |
| IB18-008 | 55.79 | 62.52 | 6.73 | 5.76 | 0.48 | 3.41 | 6.18 | 56 | 90 |
| includes | 59.77 | 61.04 | 1.27 | 11.25 | 0.77 | 5.83 | 11.93 | 60 | 100 |
| IB18-009 | 78.05 | 84.34 | 6.29 | 12.33 | 2.98 | 24.46 | 14.98 | 60 | 85 |
| includes | 79.15 | 80.70 | 1.55 | 19.95 | 3.14 | 21.21 | 22.65 | 62 | 85 |
| includes | 79.57 | 80.02 | 0.45 | 40.88 | 5.70 | 45.80 | 45.93 | 62 | 90 |
| includes | 81.10 | 83.45 | 2.35 | 18.04 | 4.45 | 40.80 | 22.09 | 64 | 75 |
| IB18-010 | NSV | ||||||||
| IB18-011 | 65.15 | 68.80 | 3.65 | – | – | 1.20 | – | 83 | |
| Previously Released* 2018 Drill Results (see News Release NR2018-06) | |||||||||
| IB18-001* | 38.41 | 39.50 | 1.09 | 2.74 | 0.37 | 5.10 | 3.11 | 33 | 96 |
| IB18-002* | 35.96 | 40.24 | 4.28 | 4.49 | 1.13 | 7.32 | 5.46 | 28 | 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 | 32 | 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 |
| IB18-006* | 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. 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.
| Table 2: Indy BC – Drill Hole Summary Data (see Figure 3 for Locations) | ||||||
| 2018 DDH | Zone | Azimuth | Dip | Elevation (m) |
Hole Depth |
|
| IB18-001 | B9 Zone or 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 | |||||
Figure 1: http://www.globenewswire.com/NewsRoom/AttachmentNg/bcb33460-3c8e-4fc0-8928-3b2b5668d12a
Figure 2: http://www.globenewswire.com/NewsRoom/AttachmentNg/152d97c9-3def-4860-8d8d-0dfb0fa47487
Figure 3: http://www.globenewswire.com/NewsRoom/AttachmentNg/19826b97-95f7-4032-80c7-fe5cc3417753
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: [email protected]
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.
