|By Marketwired .||
|April 21, 2017 07:00 AM EDT|
TORONTO, ONTARIO -- (Marketwired) -- 04/21/17 -- Pasinex Resources Limited (CSE: PSE) (FRANKFURT: PNX) (the "Company" or "Pasinex") is delighted to announce the appointment of CSA Global to complete the first independent Mineral Resource estimate under CIM guidelines on the Pinargozu High-Grade Zinc Mine in southern Turkey. The Pinargozu Mine is a part of the 50/50 JV company, Horzum AS. This technical study will be disclosed via NI 43-101 Technical Report.
A site visit by the independent QP Dr. Neal Reynolds is scheduled for late May and Pasinex expects completion of the estimate and filing of the technical report by Q3 2017.
CSA Global has offices in Australia, UK, Canada, South Africa, Indonesia, Singapore and Russia. It has recognized expertise in zinc mineral systems, both sulphide and, most importantly, non-sulphide in the context of Pinargozu. In Turkey, CSA Global has completed a country-wide assessment of Zn-oxide projects including oxidized CRD/manto, MVT and Irish-type systems. CSA Global's international experience on zinc-oxide projects includes Padaeng (Mae Sod) in Thailand, Sierra Mojada in Mexico (CRD), Huize district in China (MVT & CRD), Jabali in Yemen (MVT) and multiple deposits in Tunisia, Morocco, Guatemala and Vietnam.
Dr. Neal Reynolds, Director of CSA Global will lead the assignment and is an international expert in carbonate-hosted zinc mineralizing systems with almost 30 years of experience in the mineral exploration industry.
Steve Williams, CEO of Pasinex said "We have been mining high-grade zinc at Pinargozu for over two years now based on in-house estimates. These estimates have proved to be robust based on what we later mined. However, it is high time now that we complete a formal code-compliant resource estimate which we can announce to the market, via NI 43-101 Technical Report. This will provide additional confidence to our shareholders and investors and easier comparison with our relatively small zinc peer group. I am particularly delighted that we have been able to secure the services of CSA Global for this exercise. Reporting of a maiden Mineral Resource estimate under NI 43-101 guidelines will be exciting and a major milestone in the project development of the Pinargozu Mine."
Horzum Zinc Trend (HZT)
The Pinargozu Mine is located in southern Turkey. Pinargozu is one of several exploration targets along the Horzum Zinc Trend (HZT), which hosts a series of Carbonate-Replacement-Deposit (CRD) type mineral occurrences, extending north for at least eight kilometres from the high-grade Horzum Mine. The HZT has been prospected and mapped to some extent in the past but has not previously been systematically explored. Pasinex is the first to apply advanced exploration technology and CRD exploration concepts and models to the HZT district.
Pasinex Resources Limited (CSE: PSE) (FRANKFURT: PNX) is a metals company which is a 50% owner of the high grade Pinargozu Zinc Mine which is in production and, under its DSO Program, is shipping directly to zinc smelter / refiners from its mine site in Turkey. The Company has a strong technical management team with many years of experience in mineral exploration and mining project development. The mission of Pasinex is to build a mid-tier zinc company based on building a large land position within a productive CRD district in Turkey.
The Pinargozu Mine is included in the 50-50 company, Horzum Arama Isletme AS (Horzum AS), which is a corporate joint venture between Pasinex and Turkish mining house, Akmetal Madencilik San ve Tic. AS (Akmetal AS). Akmetal AS is one of Turkey's largest family-owned conglomerates with the nearby past-producing Horzum Zinc Mine.
Visit our web site at: www.pasinex.com
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 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.
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