VANCOUVER, Feb. 13, 2014 - /CNW/ - Pasinex Resources Limited (CSE: PSE) (FSE: PNX) is pleased to announce that the Company will conduct ground penetrating radar (GPR) testing over its Pinargozu and Akkaya zinc-lead properties in the Adana Province, southern Turkey, starting 22 February, 2014.
Pinargozu and Akkaya are owned 50% by Pasinex through Horzum AS, its joint venture company with Turkish mining company, Akmetal AS.
Limestone-hosted zinc-lead mineralization in the Pinargozu-Akkaya area occurs both as oxides and as sulphides, as evidenced at Pinargozu, and at the neighbouring Horzum Mine, which historically produced approximately 4.2 million tons of oxide ore and 420,000 tons of sulphide ore. Oxide ores are frequently associated with kart-related cavities in the host limestone. Sulphide ores generally occur at deeper levels, and are massive in form.
Technological developments over the last ten years have produced ground penetrating radar equipment capable of detecting cavities and massive sulphides in limestones through up to 100 meters of limestone, if the survey is conducted from surface, and up to 15 meters of limestone, if conducted from underground. Depth penetration is, however, dependent on a number of factors. Consequently it is prudent to conduct test surveys before commissioning broad-scale deployment of the new exploration technology.
The GPR tests at Pinargozu and Akkaya will run alongside both surface and underground tests at the Horzum Mine, within which Pasinex owns a 5% interest.
Should the tests prove successful, which Pasinex believes to be probable, then arrangements will promptly be made for GPR surveying on the lines indicated in Figures 1 and 2 which can be seen at: http://www.pasinex.com/press-releases/
As both Pinargozu and Akkaya are awaiting drilling permits from the Turkish Ministry of Mines, successful detection of buried cavities and massive sulphides by GPR at Pinargozu and Akkaya should materially enhance Pasinex' ability to locate and drill mineralisation on these properties.
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 (CSE: 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.
The CSE 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 the ability to finance exploration in order to further the Pinargozu and Akkaya projects in 2014, the expected depth penetration of GPR tests, and the granting of drilling permits from the Turkish Ministry of Mines. 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: Steve Williams, President/CEO, Phone: 416 861 9659, Email: [email protected]