Zinc One Resources Inc (CVE:Z) has filed an updated resource estimate for its Bongara zinc mine project in Peru, which has now added in numbers from the Bongarita zinc-oxide deposit.
The overall Bongará project contains an 8km trend with known near-surface, high-grade zinc mineralization. The mine was in production from 2007 to 2008 but was closed due to the financial meltdown and the fall in the zinc price.
Last month, the firm unveiled an NI 43 101 indicated resource of 812,000 tonnes averaging 18.9% zinc containing 339 million pounds of zinc at a 10% cut-off.
The inferred resource showed 1.34 million tonnes averaging 16.8% zinc containing 496 million pounds of the commodity using a 10% Zn cut-off.
But the company revealed since then, modeling at Bongarita, which is hosted by soils, has added 10,000 tonnes of 13.8% containing 3 million pounds of zinc as an indicated resource and 700 tonnes of 12.7% zinc for 200,000 pounds of inferred.
The overall project thus now hosts 342 million pounds of indicated zinc and 496.2 million pounds of inferred.
Further drilling planned
In February, the group said that this year, it 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 previously producing mine used a Waelz kiln for processing, which does not require copious amounts of water and an electrical grid.
The waste product is slag that can be used as road material, among other things, thus precluding a permanent tailings storage facility and minimizing initial and sustaining capital outlays.
Shares in Toronto were unchanged at $0.080.
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