Zinc One Resources Inc.

Zinc One Resources set for resource estimate for Bongara zinc project in Peru

The resource estimate will be the basis for a PEA expected to be completed late next year

The Bongara zinc mine is in Peru

Zinc One Resources Inc (CVE:Z) has outlined a path towards a first mineral resource for its Bongara zinc project in Peru, where all the data from its 2018 drilling has now been compiled.

The new report, to include the near-surface, high-grade, zinc-oxide mineralization encountered at the Mina Grande, Mina Chica, and Bongarita deposits, is expected to be released in early 2019.

READ: Zinc One Resources announces results of drilling at Peru project

"The most important highlight of our drill program was the discovery of the Mina Chica deposit and we are optimistic that the resource estimate there will make an important contribution to the overall resources," said Dr Bill Williams, chief operating officer and interim CEO.

"The zinc-oxide deposits drilled not only at Mina Chica, but at Mina Grande Norte, Mina Grande Centro, and Mina Grande Sur as well have been delineated in all but one direction in each case, along which upside potential requires further definition drilling.

"Most importantly, the best and longest intercepts did not outcrop, so there remain areas between these deposits that have great potential, especially the 300-metre by 400-metre unexplored area between Mina Grande Norte and Mina Chica."

Significantly, the new resource estimate will be the basis for a preliminary economic assessment expected to be completed late next year.

The Mina Chica discovery, where 53 drill holes have been sunk for over 2,327 meters (m) is an area notable for its lack of vegetation where zinc mineralization outcrops.

The most significant intercepts from the area have included 19.8m at 46.8% zinc from 1.9m depth, and 49.5m at 38.7% zinc from 7.3m.

Looking forward, Zinc One has applied to the relevant authorities for approval to drill 583 holes from 364 platforms along a 1.4km long ridge from Mina Chica to and beyond Mina Grande Sur.

Exploration drilling will be prioritized in favourable settings within areas of low-lying vegetation.

Contact Giles Gwinnett at [email protected]

Follow him on Twitter @gile74

Quick facts: Zinc One Resources Inc.

Price: $0.02

Market: TSX-V
Market Cap: $2.72 m

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