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First Drill Program at Indy Project in BC Intersects Shallow Zinc Mineralization

 

 

 

 

 

InZinc Mining Ltd. (TSX-V: IZN)  is pleased to announce initial results from its first exploration drill program at the Indy zinc project (100% option) located 100km southeast of Prince George in central British Columbia. Results include intersections from five holes of an eleven-hole drill program (1271m drilled). Additional results will be released as received. All intersections returned to date are located within 60m of surface.

 

Selected Highlights (refer to details in Table 1)

 

Hole IB18-002

 

  • 4.49% Zn, 1.13% Pb and 7.32 g/t Ag (5.46% ZnEq) over 4.28m at 27m below surface
  • 2.24% Zn, 0.83% Pb and 5.23 g/t Ag (2.95% ZnEq) over 5.38m at 33m below surface
  • 3.50% Zn, 0.66% Pb and 4.59 g/t Ag (4.07% ZnEq) over 4.57m at 37m below surface

 

Hole IB18-003 (low core recovery)

 

  • 9.26% Zn, 2.43% Pb and 17.98 g/t Ag (11.38% ZnEq) over 3.05m at 23m below surface

 

Hole IB18-006

 

  • 3.88% Zn, 1.34% Pb and 8.90 g/t Ag (5.03% ZnEq) over 3.99m at 29m below surface

 

Note: True widths are unknown. The intersections in IB18-002 are separated by lost core/no recovery. ZnEq calculation: metallurgical studies have not been completed and assumes 100% metallurgical recovery using Zn prices at $1.10/lb., Pb at $.80/lb. and Ag at $15/oz – all $US. 

 

The 2018 drill program explored the southern area of Anomaly B, an extensive 1.5km long soil geochemical zone and one of three large anomalies being advanced on the project. Recent (2018) soil surveys outline large, continuous and untested areas of high zinc in soil over a 500m by 400m area both west and northwest of this drilling. The combination of age of strata, rock types, geochemical trends, alteration and mineralization are suggestive of deformed and re-mobilized mineralization associated with a sedimentary hosted exhalative (Sedex) environment.

 

Anomaly B Drill Program (see Figures 5 and 6)

 

Holes IB18-001 to IB18-010 focused on the southeastern area of Anomaly B and generally targeted the upslope edge of soil geochemical highs established in 2017 surveys. A single hole (IB18-011) was completed 900m north of hole IB18-001.

 

The only rock exposure in the area is a surface zinc oxide occurrence which returned 45.5% zinc in a grab sample. Drill hole IB18-001 was collared 50m east of the zinc oxide zone and hole IB18-002 was located 100m east of the occurrence. Both holes intersected shallow zinc sulphide mineralization in relatively flat lying dolomitic rocks underlain by sericite-pyrite schists. Hole IB18-006, located 150m east of the zinc oxide occurrence, continued to explore this trend to the east and upslope. The hole was collared in black shales underlain by a sedimentary breccia and continued into thinner dolomitic rich rocks similar to sequences in holes IB18-001 and IB18-002. Hole IB18-006 ended in a thick interval of sericite-pyrite schist. Contact-related mineralization in hole IB18-006 was encountered at the base of the black shale and in contact with dolomitic rich rocks. Weaker sulphide mineralization was also intersected in silicified zones within the sedimentary breccia unit. Holes IB18-007, IB18-008 and IB18-009 continued to explore this trend (results pending).

 

Drill holes IB18-003 and IB18-004 were collared approximately 270m north of hole IB18-001. Hole IB18-003 intersected massive sulphide mineralization (with low core recoveries) at 22m downhole followed by highly fractured dolomite rich rock and underlain by sericite-pyrite schist. Vertical hole IB18-004 was drilled at the same location. The hole intersected weaker mineralization in similar highly fractured rock followed by sericite-pyrite schist at depth. Soil geochemical surveys suggest the mineralization encountered in these drill holes trends further to the northwest.

 

Anomaly B was initially outlined by the Company in 2017 with high zinc in soils returned over a 1.5km length. Infill sampling in 2018 supported drill targets. The westward expansion of the geochemical survey in 2018 (see Figure 2) outlines a strongly anomalous, continuous and untested area of zinc in soil for up to 400m downslope and 500m northwest and southeast below the 2018 drill holes (see Figure 6).

 

Local contractors provided all support for the drill program and access was road supported.

 

Emerging Geological Model

 

Rock types in drill core generally include from the base sequence upward; unaltered to ankeritic-siltstones, sericite-pyrite schist (with fine pyrite laminations and stringers), dolomitic lenses and breccias and variably silicified sedimentary breccias. This sequence is overlain by black shales. Deformation overprinting related to regional folding and related faulting is recognized.

 

Photos accompanying this announcement are available at

 
http://www.globenewswire.com/NewsRoom/AttachmentNg/183e32f1-15d8-4261-be66-935c980c76dc


http://www.globenewswire.com/NewsRoom/AttachmentNg/d6cbe943-24d9-4052-9b96-71bcf1e80da7

 

Mineralization is present in all lithologies as disseminations, fracture fill vein replacements and massive sulphides. Concentration of zinc mineralization is apparent near or within contacts of favorable hosts such as carbonates and highly silicified units both of which are underlain by sericite-pyrite schists.

 

Photos accompanying this announcement are available at 

http://www.globenewswire.com/NewsRoom/AttachmentNg/0a7f7135-3de5-45f6-abec-81fc6c1f566e


http://www.globenewswire.com/NewsRoom/AttachmentNg/f893d377-5460-444a-9220-1dd45ce4ada5

 

Drilling to date at Anomaly B indicates a geological setting proximal to an exhalative vent complex, subsequently overprinted by folding. Many of these rock types and alteration styles are analogous to exhalative style deposits in western Canada. The combination of age of strata, rock types, geochemical trends, alteration and mineralization are suggestive of a deformed and re-mobilized sediment hosted exhalative (Sedex) environment.

 

Property Position Expanded

 

Additional lands have been acquired contiguous to the Indy claims. The property now covers approximately 24km of strike along favourable stratigraphy.

 

Table 1: Indy BC – Drill Hole Intersections

 
Drill Hole
(HQ)
From
(m)
To
(m)
Interval
(m)
Zinc
(%)
Lead
(%)
Silver
(g/t)
ZnEq
(%)
Depth Below Surface (m) Estimated Core Recovery
(%)
IB18-001 38.41 39.50 1.09 2.74 0.37 5.10 3.11 31 96
IB18-002 35.96 40.24 4.28 4.49 1.13 7.32 5.46 27 37
and 41.77 47.15 5.38 2.24 0.83 5.23 2.95 33 40
and 49.39 53.96 4.57 3.50 0.66 4.59 4.07 37 65
IB18-003 25.00 28.05 3.05 9.26 2.43 17.98 11.38 23 41
includes 25.00 26.52 1.52 16.11 4.08 32.50 19.72   16
IB18-004 22.26 23.75 1.49 2.06 0.48 3.60 2.48 23 43
IB18-005 Pending                
IB18-006 49.97 53.96 3.99 3.88 1.34 8.91 5.03 29 75
includes 51.10 52.44 1.34 8.31 2.80 18.10 10.71   67
and 104.27 105.79 1.52 2.96 0.42 2.32 3.31 63 100
includes 104.27 104.70 0.43 9.30 1.24 6.72 10.34   100

 

Note: True widths are unknown. ZnEq calculation: no metallurgical studies have been completed and assumes 100% metallurgical recovery using Zn prices at $1.10/lb., Pb at $.80/lb. and Ag at $15/oz – all $US.  The intersections in IB18-002 are separated by lost core/no recovery.

 

Table 2: Indy BC – Drill Hole Summary Data (see Figure 5 for Locations)

 

 
   
2018 DDH Zone Azimuth Dip Elevation
(m)
Hole
Depth
 
 
IB18-001 Anomaly B
South
240 -55 1079 117.68  
IB18-002 240 -55 1089 104.27  
IB18-003 240 -60 1107 101.22  
IB18-004 240 -88 1107 101.52  
IB18-005 240 -50 1117 112.50  
IB18-006 240 -55 1108 140.85  
IB18-007 000 -90 1108 170.12  
IB18-008 000 -90 1089 83.23  
IB18-009 180 -50 1089 103.96  
IB18-010 180 -50 1087 110.06  
IB18-011 Anomaly B
North
240 -60 1133 125.61  
        Total (m) 1271.02  

 

Photos accompanying this announcement are available at 

http://www.globenewswire.com/NewsRoom/AttachmentNg/73c4ecdd-85c9-4dfe-835e-fb1e2f0156fc


http://www.globenewswire.com/NewsRoom/AttachmentNg/191741b4-78e1-48c9-80d6-82780669c5fd

 

About InZinc

 

InZinc is focused on growth in zinc through exploration and expansion of the advanced stage West Desert project (100%) in Utah and exploration of the early stage Indy project (100% option) in British Columbia. West Desert has a large underground resource open for expansion and has district scale exploration potential. A West Desert preliminary economic assessment completed in 2014 forecasted 1.6 billion pounds of zinc production over 15 years.  Byproducts would include copper, magnetite and indium, the latter being identified by the United States in 2017 as a critical mineral.  The West Desert deposit may represent one of the highest grade, known resources of indium in the United States (U.S. Geological Survey Professional Paper 1802-1).

 

Indy comprises both near surface exploration targets and regional discovery potential. Both zinc projects are well located with easy access and existing infrastructure.

 

Posted November 6, 2018

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