Proactive Investors - Run By Investors For Investors

Zinc One Resources sitting on 339M pounds of indicated resources at Bongara mine

A new estimate consists of a higher-confidence indicated mineral resource of 812,000 tonnes averaging 18.9% of zinc
Pictured is drillcore
In 2019, Zinc One plans to carry out further drilling

Zinc One Resources Inc (CVE:Z) has reported an eagerly awaited first resource estimate for its Bongara zinc mine project in Peru.

Significantly, the new NI43 -101 estimate only covers a small area along a strike of eight kilometers of prospective geology at the property, said the Vancouver-based firm.

READ THE BIG PICTURE: Zinc One Resources steadfastly heading towards first resource at Bongara project, where Mina Chica discovery has excited

The new estimate consists of a higher-confidence indicated mineral resource of 812,000 tonnes averaging 18.9%  of the commodity, containing 339 million pounds of zinc at a 10%  zinc cut-off.

It also has a lower confidence inferred mineral resource of 1,339,000 tonnes averaging 16.8% of zinc, containing 496 million pounds of zinc at a 10% zinc cut-off.

"This initial Mineral Resource estimate quantifies the amount of high-grade zinc in an area of known near-surface mineralization along a 1.4-kilometre trend," said Greg Crowe, director at Zinc One. "Further, geologic mapping and surface sampling confirm the potential of the larger Bongara Zinc Mine project to host additional significant zinc mineralization."

Crowe highlighted that the new resource estimate occupies only a small area along the strike.

In 2019, Zinc One plans to carry out further drilling, including to upgrade the confidence level of the currently defined inferred resources and to expand the overall resource at nearby undrilled high-priority targets between Mina Chica and Mina Grande Norte and northwest of Mina Chica at Campo Cielo.

The Bongara zinc mine project was in production from 2007 to 2008 but was closed due to the global financial meltdown and the decrease in the zinc price.

Past production included grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization.

Shares added over 5.8% to $0.09 in Toronto.

Contact Giles at [email protected]

Follow him on Twitter@Gile74

View full Z profile View Profile

Zinc One Resources Inc. Timeline

Related Articles

The Bongara property in Peru
February 18 2019
Bongara and the associated Charlotte Bongara zinc project are home to zinc oxide mineralization
1540897348_zinc-periodic-3.jpg
October 30 2018
Exploration upside on Connemara's Irish portfolio remains significant
1547220106_zinc.jpg
January 10 2019
Just before Christmas, the Vancouver based metals firm said drilling will begin at Kilmurry during the first quarter once permits are received
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use