VANCOUVER, Jan. 7, 2013 /CNW/ - Pasinex Resources Ltd. (CNSX: PSE) (FSE:
PNX) (the "Company" or "Pasinex") is pleased to announce the occurrence
of a second, large lead-zinc anomaly that has been identified on its
50%-owned Pasali property in Adana, Turkey, under the Company's joint
venture with Akmetal AS.
Pursuant to the Company's news announced on October 29, 2012, Pasinex,
through its 100%-owned Turkish subsidiary, Pasinex Arama ve Madencilik
AS (Pasinex AS) entered into a joint venture agreement with Turkish
mining company, Akmetal AS, to explore for zinc and lead in southern
Turkey through a new 50/50-owned company called Horzum Arama ve Isletme
AS (Horzum AS), which is operated by Pasinex AS.
Prior to forming Horzum AS, both Pasinex AS and their joint venture
partner, Akmetal AS, staked properties on behalf of the joint venture.
The properties staked by Pasinex AS for the Horzum JV include:
Gokceviz, Ortakoy, Kayadibi, Konakkuran, Gedikli, Akkaya,
Kayrak-Kisacikli and Feke. Akmetal AS has staked 6 properties for the
Horzum JV company that include: Orendere, Yerebakan, Salmanli,
Kalkumac, Karabucak and Pasali. One property, called Mahyalar, has been
staked by Horzum AS. A complete map showing all Horzum AS properties
can be found on the Company's website at: http://www.pasinex.com/exploration/ . Pasinex AS has been actively exploring on all of these properties on
behalf of Horzum AS.
Pasinex has advised Horzum AS, and Horzum AS has released Pasinex to
announce, that a second large lead-zinc soil anomaly has been
identified in the province of Adana, on Horzum AS' 100%-owned Pasali
property (the title is currently held by Akmetal AS on behalf of the
JV), approximately 25km northeast of the old Horzum Mine. The first
anomaly, announced on 19 September, 2012, was on the Akkaya property.
The Pasali anomaly is approximately 2,500 meters long, and up to 400
meters wide, occurring over an apparent dolomitisation front mapped by
Pasinex geologists, in carbonate rocks with conflicting Tertiary and
Cambrian ages on different government maps. Dolomitisation fronts are
recognized as important localization and targeting controls on
Mississippi Valley-type lead-zinc deposits.
Sample spacing over the anomaly is primarily 50 meters on 100
meter-spaced lines, with infill sampling at 25 meters in places. The
coincident lead and zinc anomaly thresholds are approximately 300ppm
for both metals, with values frequently rising above 1000ppm, also for
All samples were analyzed with a Niton XL3t 950 GOLDD+ XRF analyzer by
Pasinex AS. Quality control was carried out by check analysis at the
ALS Chemex laboratory in Turkey. Pasinex is satisfied with the
accuracy and precision of the Niton analyser's results.
This hitherto unknown anomaly may be indicative of the presence at
Pasali of a large mineralized lead/zinc system, testing for which by
drilling is planned for 2013. It provides further evidence of the
effectiveness of Pasinex's exploration methods in Turkey and of the
mineral potential of the area selected by Pasinex to work in.
The Pasali property is one of 15 properties that Horzum AS has recently
staked to look for zinc mineralization in the region of Horzum, Adana.
All these properties are targeting limestone with the potential to host
Mississippi Valley type lead - zinc mineralization, as well as other
types of lead-zinc mineralization. The Horzum area has historic zinc
mining but has not been systematically explored for lead - zinc
mineralization using modern exploration methodologies.
Pasinex Resources Limited President and CEO, Steve Williams said "This
Pasali find is very pleasing as it follows on from the Akkaya find and
indicates the real opportunity presented in the Horzum region for an
important zinc / lead / silver deposit."
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
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
On Behalf of the Board of Directors
PASINEX RESOURCES LTD.
The CNSX does not accept responsibility for the adequacy or accuracy of
this news release.
This news release includes forward-looking statements that are subject
to risks and uncertainties. Forward-looking statements involve known
and unknown risks, uncertainties, and other factors that could cause
the actual results of the Company to be materially different from the
historical results or from any future results expressed or implied by
such forward-looking statements.
All statements within, other than statements of historical fact, are to
be considered forward looking. Although Pasinex Resources Ltd. believes
the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially
from those in forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking
statements include market prices, continued availability of capital and
financing, exploration results, and general economic, market or
business conditions. There can be no assurances that such statements
will prove accurate and, therefore, readers are advised to rely on
their own evaluation of such uncertainties. We do not assume any
obligation to update any forward-looking statements.
SOURCE: Pasinex Resources Ltd.
For further information:
Phone: 416 861 9659