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Zinc One Resources names new interim CEO as it eyes maiden resource estimate on Bongará project

James Walchuck has been the CEO and a director and remains a consultant to the company, Zinc One said
map of Peru
Zinc One's flagship project is in Peru

Peru-focused Zinc One Resources Inc (CVE:Z) told investors that Dr Bill Williams, an experienced geologist, has become the interim chief executive at the company effective immediately.

Williams is currently the chief operating officer and a director of Zinc One. James Walchuck has been the CEO and a director and remains a consultant to the company, Zinc One said.

"Dr Williams' experience in the development of base-metal projects will be instrumental in moving Zinc One forward at a key time in its evolution," said Greg Crowe, director of Zinc One. "With the release of Zinc One's maiden resource estimate on the Bongará Zinc Mine Project anticipated within the next few weeks, Zinc One is well-positioned to pursue project funding under Dr Williams' guidance."

READ: Zinc One Resources sees shares lifted as more decent assays are unearthed from Bongara

The Bongará project was in production from 2007 to 2008 but closed due to the global financial crisis and a concurrent decrease in the zinc price. Past production included more than 20% zinc grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization.

Last week, the company posted further high-grade drill results from the Mina Grande Norte zone at Bongara. Mina Grande Norte is a part of one of three zones of high-grade, near-surface zinc-oxide mineralization along a 1.4km strike, which was tested by this drill program, which consisted of 264 holes for 7,931 metres.

Zinc One shares were unchanged in Toronto at $0.085.

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