17:28:42 EST Tue 19 Nov 2019
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Inzinc Mining Ltd
Symbol IZN
Shares Issued 109,185,419
Close 2019-06-03 C$ 0.04
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Inzinc expands exploration program at Indy

2019-06-03 10:53 ET - News Release

Mr. Wayne Hubert reports

INZINC ANNOUNCES EXPANDED EXPLORATION PROGRAM AT INDY PROJECT, BC

Inzinc Mining Ltd. has expanded its 2019 exploration program at the Indy zinc project (100-per-cent option) located 100 kilometres southeast of Prince George in central British Columbia. Near-surface, sedimentary-hosted exhalative-type mineralization was discovered by initial drilling at soil geochemical Anomaly B in the summer of 2018 and an additional zinc-in-soil geochemical anomaly was acquired by staking in Q3 2018. To date, four large soil geochemical anomalies with an aggregate length of four km occur on the property and remain to be drill tested.

The 2019 exploration program will include extensive soil geochemical programs, commencing in mid-June, to expand, define and prioritize these targets for drilling. Up to 1,000 soil samples will be collected and analyzed.

Geochemical     Length (strike)
anomaly 

Anomaly B               1.5 km          
Anomaly C        700 m -- open    
Anomaly D       One km -- open   
Action           800 m -- open    

With a large claim position (25 km strike), new discoveries of shallow mineralization and extensive geochemical anomalies remaining to be tested, the Indy project provides multiple opportunities for new discoveries of a sedex-type deposit in an accessible and unexplored region of central British Columbia.

Drill program from 2018 identified new zone of near-surface mineralization

The 2018 drill program, the company's first drill program at Indy, discovered shallow sedex-style mineralization at the new B-9 zone at Anomaly B, including high-grade massive sulphide mineralization in holes IB18-009 and IB18-003 which are 250 m apart and remain open for further exploration.

Hole IB18-009:

  • 12.33 per cent Zn, 2.98 per cent lead and 24.46 g/t silver (14.98 per cent zinc equivalent) over 6.29 m at 60 m below surface.

Hole IB18-003 (low core recovery):

  • 9.26 per cent Zn, 2.43 per cent Pb and 17.98 g/t Ag (11.38 per cent Zn equivalent) over 3.05 m at 23 m below surface.

Hole IB18-008:

  • 5.76 per cent Zn, 0.48 per cent Pb and 3.41 g/t Ag (6.18 per cent Zn equivalent) over 6.73 m at 56 m below surface.

Note: Drilled intersections are apparent widths only. Zn equivalent calculation: metallurgical studies have not been completed and assumes 100-per-cent metallurgical recovery using Zn prices at $1.10 per pound, Pb at 80 cents per pound and Ag at $15 per ounce -- all U.S. dollars.

Grant of stock options

Inzinc has granted incentive stock options to certain directors, officers and consultants to purchase a total of 2.35 million common shares of the company for a period of three years at an exercise price of five cents per share effective May 31, 2019. These stock options will vest over the next 12 months.

Qualified person

Brian McGrath, BSc, PGeo, a qualified person as defined in National Instrument 43-101, has approved the technical content of this news release.

Quality assurance/quality control

Drill core was collected from the drill site and delivered to the Indy camp by Inzinc staff. The core was logged, sample intervals were outlined and photographic records were collected. Core samples were split using a diamond saw at the camp with one-half of the core submitted for assay and the other half stored in wooden core boxes on site. The sawn core was bagged in individually marked plastic sample bags and shipments were compiled in labelled rice bags. Core shipments were delivered by Inzinc contract geologists to Bandstra Transportation Systems Ltd. in Prince George, B.C., for furtherance to MS Analytical Services in Langley, B.C., for analysis. Samples were prepared by MS Analytical and analyzed by inductively coupled plasma atomic emission spectroscopy and ICP-AES/mass spectrometry. In addition to the lab's QA/QC procedures, Inzinc inserted a standard, blank or field duplicate every 10th sample. The results from the QA/QC samples were within industry norms.

About Inzinc Mining Ltd.

Inzinc is focused on growth in zinc through exploration and expansion of the advanced-stage West Desert project (100 per cent) in Utah and exploration of the early-stage Indy project (100-per-cent 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.

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