VANCOUVER, Sept. 25, 2013 /CNW/ - Pasinex Resources Limited (CNSX : PSE) (FSE: PNX) is pleased to announce the results of its first phase channel sampling exercise conducted on the Golcuk South mineral occurrence in the south-western sector of its Golcuk Property, located in the Sivas Province of north-central Turkey.
The exercise was carried out as a follow-up to the high copper values found by Pasinex earlier in 2013 in "spot" surface rock samples at Golcuk South, and described in a news release dated 11 July, 2013. The purpose of the channel sampling was to measure the extent to which the high copper levels in outcrop samples persisted into the rocks hosting the outcrop spots sampled.
Before the exercise was initiated, confirmatory assays on a representative subset of the Golcuk South rock samples were requested from SGS (Ankara), which assays are reported in Table 1 below, and which assays suggest that Pasinex's Niton XRF instrument provides copper assays on average somewhat lower than SGS, but of adequate accuracy for the target characterization in which Pasinex is engaged.
This first phase of channel sampling was conducted over the same general area as the original outcrop sample sites previously reported by Pasinex, with an emphasis on the western side of the mineralized area. The second phase of channel sampling, currently in progress, focuses on the eastern side. Because Pasinex does not yet have the necessary permits to dig trenches at Golcuk South, sampling had to take place in areas with adequate outcrop for channel sampling. Outcrops with dimensions allowing for cutting of a minimum 1.5m channel sample were chosen for sampling, and channels were orientated so as to optimize the quality of cut sample, leading to effectively random channel orientations.
Individual channel sampling results are presented in Figure 1 below, alongside the outcrop samples reported in July.
The length-weighted, average copper value for all the channels sampled is 0.41% copper. The distribution of channel samples over the area of interest is considered adequate to support 0.4% copper as a valid approximation of the potential average copper grade of the area sampled.
To gain insight into the potential variability of copper levels in the area sampled, channel samples have been clustered based on proximity, and length-weighted averages calculated for each cluster. Cluster averages are presented in Figure 2 below, and range from 0.21% copper to 0.70% copper. These values provide realistic lower and upper estimates of the true average copper grade which may be expected of the area sampled.
At the same time, these results provide strong justification for further work on better characterizing the size and grade of the discovered mineralized area with a view to delimiting a volume of ore containing economically extractable copper. Consequently, a second phase of channel sampling is ongoing at Golcuk South, and permitting is being arranged for both trenching and drilling operations.
Steve Williams, CEO of Pasinex comments: "I am delighted with progress on Golcuk South which has the potential to quickly develop into an at-surface, easy-to-mine copper deposit. As soon as we have drill-derived samples from below the surface, we will be submitting them for metallurgical evaluation."
Pasinex Resources Limited is a base and precious-metal focused exploration company with priority given to building a strong portfolio of base metal exploration opportunities in Turkey. Pasinex's key projects are the Golcuk Copper-Silver Project located in Sivas, Turkey, and the Joint Venture, Horzum Zinc-Lead Project with Akmetal Group in Adana, Turkey. The company is led by an experienced team with many years of experience in both in the mining and mineral exploration industries around the world.
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.
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.
| SGS (ICP)
| SGS (AA)
Table 1: Comparison of Golcuk South copper assays from Pasinex' Niton XRF instrument and assays from SGS (Ankara).
SOURCE: Pasinex Resources Ltd.
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