Peru-focused Zinc One Resources Inc (CVE:Z) has reported more encouraging drill assays from its Bongara zinc mine project.
The results come from 16 of the remaining 35 holes in the Mina Grande Centro zone, as well as eight of the 16 holes drilled in the Mina Grande Norte zone.
"The Mina Grande Norte results are beyond our expectations and we fully expect that this area will make an important contribution to the total project's resource estimate, which we anticipate will be completed during Q4 2018," the president and CEO of Zinc One Jim Walchuck told investors.
"The Mina Grande Centro drill program has clearly shown that there is the potential for high-grade mineralization to be delineated to the northeast and has provided important information regarding mined mineralization, all of which helps with our development planning."
At Mina Grande Norte, drilling focused on the eastern edge of previous mining and west of the high-grade zinc-oxide mineralization established by earlier pit sampling and historical drilling to the north and east.
The firm reported spectacular intercepts of 37.0 metres of 31.6% zinc from one hole and 30.0 metres of 28.3% zinc from another.
There was also 19.5 metres of 28.0% zinc from another borehole.
The Bongara Zinc mine was in production from 2007 to 2008 but was closed due to the global financial crisis and a concurrent decrease in the zinc price.
Past production included 20% zinc grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization.