Zinc One Resources Inc. (TSXV:Z, FSE:RH33, OTC:ZZOF) announces the first ever drill results have confirmed a new high-grade zinc mineralized zone at Mina Chica, which is one of several high-grade mineralized areas being targeted in the ongoing drill program at the Bongará Zinc Mine project located in north-central Peru. More importantly, these drill results penetrated as much as 16.5 metres of true vertical thickness with 36.5% zinc resulting in the base of mineralization at Mina Chica potentially being substantially deeper than previously contemplated. Zinc One anticipates that its new understanding of the high-grade Mina Chica mineralized zone will have a positive impact on the resource estimate at the Bongará Zinc Mine, which is anticipated to be released in Q2 2018.
To date, assays for only 6 of 34 holes drilled at Mina Chica have been received and are reported herein. Visual zinc mineralization has been noted in the other holes and assays will be announced when received and data has been compiled.
Mina Chica is only one of three known zones of high-grade near-surface zinc oxide mineralization along a 1.6 kilometre mineralized trend that will be tested by this drill program. At Bongarita, which lies approximately 200 metres west of Mina Chica, results from only 13 of the 36 holes drilled there have been reported. At Mina Grande Sur, which lies approximately 1.2 kilometres southeast of Mina Chica and where a second rig is currently drilling, results from only 11 of 54 holes drilled have been reported.
Mina Chica Drill Results Highlights:
| ● | A total of 34 holes totaling 1,140 metres were drilled from 11 platforms |
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Results from six holes are reported herein |
| ● | Significant intercepts include: |
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MCH18004 – 16.5 metres of 35.6% zinc, from 15.0 metres drill depth |
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MCH18005 – 18.0 metres of 31.0% zinc, from 20.8 metres drill depth |
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True vertical thickness of 12.7 metres starting at 14.7 metres drill depth |
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Mineralization is open at depth (final 1.5 metres assayed 11.4% zinc) |
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MCH18006 – 20.8 metres of 23.8% zinc from the surface |
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True vertical thickness of 14.7 metres to true vertical depth of 14.7 metres |
| ● | Mineralization at Mina Chica includes zinc oxides, carbonates and silicates hosted by soils, highly-weathered carbonates, and fine- to coarse-grained dolomites. |
| ● | Drill holes, MCH18001, MCH18002, and MCH18003 were drilled along the southern periphery of known mineralization near a pit sample that previously defined the base of the mineralization at 2.9 metres depth. |
Jim Walchuck, President and CEO of Zinc One commented, “We are extremely pleased with the results from the first six drill holes at Mina Chica especially in the holes which generated greater thicknesses and depth than we were anticipating. These assays have expanded our expectations with respect to the true vertical thickness and thus the potential amount of the mineralization at Mina Chica. We look forward to receiving the data from the samples currently in the lab for the additional drill holes which we believe will continue this trend.”
Geology and Discussion of Results
The zinc mineralization at Bongará is hosted by carbonate rocks and is classified as a Mississippi Valley-type deposit. The mineralization is stratabound and is basically a tabular body with irregular boundaries. Hydrozincite, smithsonite, hemimorphite, and a zinc-aluminum-iron silicate are the primary zinc minerals that are hosted primarily by soils, heavily-weathered fractured and vuggy dolomites, and fine- to coarse-grained dolomites.
Significant results, including drill-hole orientation and total depths for Mina Chica, can be found in Table 1. Below is a map in Figure 1. outlining the ongoing drill program at Mina Chica. A link to additional maps showing a more detailed view of the surface/pit sampling and drilling at Bongará is also provided.
Figure 1. Bongará Project – Mina Chica
https://zincone.com/projects/bongara-project/drill-program-1/
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4668/33912_a1523239787212_61.jpg
Table 1: Mina Chica Drill Results
| Drill Hole | Easting* |