Pasinex Resources Limited commences u/g drilling operations at Pinargozu Zinc Project In Turkey
VANCOUVER, Nov. 1, 2013 /CNW/ - Pasinex Resources Ltd. (CNSX: PSE) (the "Company" or "Pasinex") Pasinex is pleased to announce that its 50%-owned company, Horzum AS (a 50 / 50 joint venture between Pasinex and Turkish mining company Akmetal AS), is in preparation for underground percussion drilling operations on its Pinargozu License in the province of Adana, Turkey.
Rehabilitation of the 700 Level gallery to allow drill entry was started in mid-September and while blasting a small expansion to the gallery to facilitate the changing of drill rods, massive high grade (>25%) zinc oxide mineralisation was encountered.
In order to assess this mineralisation and its 3-dimensional disposition without compromising the planned drill setup position, a separate gallery was developed starting approximately seven metres away from the planned drill position. This gallery quickly encountered the massive mineralisation which includes massive accumulations of galena and sphalerite, with lesser barite, and abundant malachite staining, with some disseminated chalcopyrite. A mineralised volume of approximately 10 meters by 3 meters by 4 meters has been removed in an attempt to expose the geological controls on the mineralisation, which are not yet clear.
The narrow-gauge percussion drilling planned for Pinargozu will begin shortly. Fourteen boreholes are planned for a total drilling program of approximately 800 meters. All these boreholes had been planned with a view to discovering oxide mineralisation similar to the oxide mineralisation historically mined at Pinargozu.
The high proportion of sulphide mineralisation currently being seen, however, both strengthens Pasinex's view that Pinargozu is a lead-zinc deposit of the "Carbonate Replacement Type", and makes it much more likely that the drilling program will encounter sulphide as well as oxide mineralisation.
The historical Pinargozu Mine lies 5.25 kilometers to the north of the Horzum Mine, which historically produced approximately 4 million tons of zinc oxide and sulphide ore, and which is currently being actively explored by drilling for extensions to mined-out resources. The Pinargozu Mine is easily accessible by a gravel road connecting to Highway 815 and lies on strike with the significant zinc and lead in soil anomaly on Horzum AS' Akkaya License, reported in Pasinex' news release dated 19 September, 2012; Horzum AS has recently applied for multiple drill site permits at the Akkaya project.
Steve Williams, president of Pasinex, stated, "We are looking forward to realizing further positive results from Pinargozu, consistent with the type of mineralization seen in this area."
For more information and detailed maps on the Horzum area exploration activity, please visit the Company's website at: http://www.pasinex.com/
Clinton Smyth, P.Geo and VP Exploration for Pasinex, is the qualified person as defined by National Instrument 43-101 who has verified the written disclosure of all scientific and technical information in this news release.
Pasinex Resources Limited (CNSX: PSE) is a base and precious metal-focused exploration company with a particular initial priority given to building a strong portfolio of base metal opportunities in Turkey. The Company has a strong technical management team with many years of experience in mineral exploration and mining project development.
On Behalf of the Board of Directors
PASINEX RESOURCES LTD.
Phone: 416 861 9659
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Phone: 416 861 9659