Zinc One Reports High-Grade Zinc Results from 2018 Drill Program at its Bongara Mine Project, Peru

Zinc One Resources Inc. (TSXV:Z) (OTC Pink: ZZZOF) (FSE: RH33) (“Zinc One” or the “Company”) has received the first drill results from the previously announced drill program at its Bongará Zinc Mine project located in north-central Peru. The drill program commenced at the Mina Grande Sur and Bongarita zones where two portable drill rigs are currently operating. The results of this drill program continue to demonstrate the potential value of the project and will provide valuable information towards advancement of the project going forward.

Initial Drill Results Highlights:

Mina Grande Sur

• A total of 542.9 metres completed from 33 holes (11 platforms x 3 holes each) and results for 11 drill holes reported herein.
• Mineralization at Mina Grande Sur includes zinc oxides, carbonates and silicates.
• Significant intercepts include ⁽¹⁾:
  
  • MGS18001 – 5.5 metres of 26.1% zinc, starting at 3.0 metres drill depth

  • MGS18003 – 4 metres of 32.5% zinc, starting at surface

  • MGS18003 – 15 metres of 21.5% zinc, starting at 15.0 metres drill depth

  • MGS18004 – 9.1 metres of 43.6% zinc, starting at surface

  • MGS18006 – 14.1 metres of 32.8% zinc, starting at surface

Bongarita

• A total of 587.2 metres completed from 36 holes (12 platforms x 3 three holes each) in an area approximately 100 metres x 150 metres and results from 13 drill holes are reported herein.
• Mineralization at Bongarita includes zinc silicates hosted exclusively by soils.
• Significant intercepts include ⁽¹⁾:
  
  • BO18005 – 11.5 metres of 16.0% zinc, starting at surface

  • BO18005 – 5.7 metres of 29.2% zinc, starting at 5.8 metres drill depth

  • BO18007 – 7.0 metres of 25.3% zinc, starting at surface

Jim Walchuck, President and CEO of Zinc One commented, “The results of the drill program at Bongará are very optimistic and further demonstrate the potential of this project going forward. The Mina Grande Sur drill holes confirm the high-grade nature of the Bongará project with many of these intercepts starting at or near surface. Additionally, this is the first time any drilling has been done at Bongarita and the results we have received thus far have been very encouraging.

The results from the program will also contribute to the upcoming resource estimate and PEA planned for 2018. Overall, we could not be more pleased with the drill progress and results to date.”

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, erroneously referred to as baumite in a previous press release, are the primary zinc minerals that are hosted primarily by heavily-weathered fractured dolomites and dolomite breccias. At Bongarita specifically, mineralization is exclusively hosted by soils. Overall, the mineralization is focused along the axis of a doubly-plunging anticline as well as within the eastern flank of the anticline.

Significant results, including drill-hole orientation and total depths for Mina Grande Sur and Bongarita can be found below in Tables 1 and 2, respectively. Although, there was no zinc mineralization found within the carbonate rocks at Bongarita as there was elsewhere along the 1.4 kilometre long trend, much of the soil drilled provided significant high-grade zinc results. Links to two figures pertaining to the drill program are included below. The first is a link to a plan map of Mina Grande Sur showing the current and proposed drill holes and the second is a plan map of Bongarita again showing completed and proposed drill holes. Both maps also include the recent channel and pit sampling locations previously reported.

Figure 1. Bongará Project – Mina Grande Sur

https://zincone.com/projects/bongara-project/drill-program-1/

Figure 2. Bongará Project – Bongarita

https://zincone.com/projects/bongara-project/drill-program-1/

Table 1: Mina Grande Sur – Drill Results ⁽¹⁾

Drill Hole	Easting*	Northing*	Azimuth	Inclination	Total Depth	From (m)	To (m)	Total (m)	Zn (%)
MSG18001	171428	9367776	320	-60	20.0	3.0	8.5	5.5	26.1
MGS18002	171428	9367776	0	-90	23.6	0.0	9.3	9.3	13.3
					Including	6.4	9.3	2.9	17.0
MGS18003	171431	9367778	110	-45	33.0	0.0	30.0	30.0	16.5
					Including	0.0	4.0	4.0	32.5
					Including	4.0	15.0	11.0	3.9
					Including	15.0	30.0	15.0	21.5
MGS18004	171521	9367686	320	-60	18.0	0.0	9.1	9.1	43.6
MGS18005	171521	9367686	0	-90	20.0	0.0	4.5	4.5	7.5
MGS18006	171521	9367683	180	-45	18.5	0.0	14.1	14.1	32.8
MGS18007	171495	9367673	0	-90	10.5	No significant intercepts
MGS18008	171495	9367673	100	-45	18.0	No significant intercepts
MGS18009	171491	9367672	225	-45	12.5	No significant intercepts
MGS18010	171457	9367668	0	-90	12.8	No significant intercepts
MGS18011	171457	9367668	180	-45	15.0	No significant intercepts

 

*Preliminary coordinates; land survey pending

Table 2: Bongarita – Drill Results ⁽¹⁾

Drill Hole	Easting*	Northing*	Azimuth	Inclination	Total Depth	From (m)	To (m)	Total (m)	Zn (%)
BO18001	170471	9368830		-90	25.0	0.0	4.5	4.5	12.3
BO18003	170470	9368830	225	-45	16.3	0.0	2.8	2.8	1.7
BO18004	170442	9368823		-90	19.5	0.0	4.5	4.5	4.0
BO18005	170442	9368823	315	-45	16.3	0.0	11.5	11.5	16.0
					Including	5.8	11.5	5.7	29.2
BO18006	170442	9368823	225	-45	14.8	0.0	4.2	4.2	9.5
BO18007	170468	9368796		-90	17.0	0.0	7.0	7.0	25.3
BO18008	170468	9368796	225	-45	11.0	0.0	3.2	3.2	20.0
BO18010	170436	9368801	0	-90	10.5	Not sampled
BO18011	170436	9368801	90	-45	10.3	Not sampled
BO18012	170433	9368799	225	-45	17.0	0.0	0.5	0.5	9.7
BO18013	170442	9368768		-90	12.0	0.0	1.3	1.3	18.7
BO18014	170442	9368768	180	-45	15.0	0.0	4.3	4.3	18.1
BO18015	170444	9368769	90	-45	25.3	0.0	6.9	6.9	10.2

 

*Preliminary coordinates; land survey pending

Sampling and Analytical Protocols

Zinc One follows a systematic and rigorous Quality Control/Quality Assurance program overseen by Dr. Bill Williams, COO and Director of Zinc One.

The sample from each core run is placed in a 60 centimetre long, plastic core box that has five columns. Core recovery, rock quality designation (“RQD”), and geologic features are logged and sample intervals, which are generally

Qualified Person

The technical content of this news release has been reviewed, verified and approved by Dr. Bill Williams, COO and Director of Zinc One, a qualified person as defined by National Instrument 43-101.

________

⁽¹⁾ Given that the strike and dip of the mineralization is not known, the intercepts do not necessarily represent true thicknesses; moreover, long intercepts, e.g., MGS18-003, most likely drilled subparallel to the dip of the tabular mineralized body.

About Zinc One Resources Inc.

Zinc One is focused on the exploration and development of prospective and advanced zinc projects in mining-friendly jurisdictions. The Company’s key assets are the Bongará Zinc Mine Project and the Charlotte Bongará Zinc Project in north-central Peru. The Bongará Zinc Mine Project was in production from 2007 to 2008, but was closed due to the global financial crisis and concurrent decrease in the zinc price. Past production included 20% zinc grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization. High-grade, zinc-oxide mineralization is known to outcrop between the mined area and the Charlotte Bongará Project, which is nearly six kilometres to the NNW and where past drilling intercepted various near-surface zones with high-grade zinc. Zinc One is managed by a proven team of geologists and engineers who have previously constructed and operated successful mining operations.

Additional Information

Monica Hamm

VP, Investor Relations

Zinc One Resources Inc.

Phone: (604) 683-0911

Email: mhamm@zincone.com

www.zincone.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zinc One cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zinc One’s limited operating history, its proposed exploration and development activities on the Bongará Zinc Oxide Project and the need to comply with environmental and governmental regulations.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Zinc One does not undertake to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

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