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Inzinc Mining Ltd
Symbol IZN
Shares Issued 108,885,419
Close 2018-11-13 C$ 0.05
Market Cap C$ 5,444,271
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Inzinc Mining drills 6.29 m of 12.33 per cent Zn at Indy

2018-11-13 12:40 ET - News Release

Mr. Wayne Hubert reports

INZINC DISCOVERS SHALLOW HIGH GRADES AT INDY PROJECT IN BC

InZinc Mining Ltd. has discovered high-grade, shallow mineralization from its first drill program at the Indy zinc project (100-per-cent option) located 100 kilometres southeast of Prince George in central British Columbia. Results from the 11-hole drill program (1,271 metres drilled), including intersections from the final six holes, identified a new zone of near-surface mineralization called the B-9 zone.

All significant intersections returned, including those previously released, are located within 60 metres of surface.

B-9 zone 2018 drilling -- selected highlights

Hole IB18-009:

  • 12.33 per cent zinc, 2.98 per cent lead and 24.46 grams per tonne silver (14.98 per cent zinc equivalent) over 6.29 m at 60 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 ZnEq) over 6.73 m at 56 m below surface.

Hole IB18-002*:

  • 4.49 per cent Zn, 1.13 per cent Pb and 7.32 g/t Ag (5.46 per cent ZnEq) over 4.28 m at 27 m below surface;
  • 2.24 per cent Zn, 0.83 per cent Pb and 5.23 g/t Ag (2.95 per cent ZnEq) over 5.38 m at 33 m below surface;
  • 3.50 per cent Zn, 0.66 per cent Pb and 4.59 g/t Ag (4.07 per cent ZnEq) over 4.57 m at 37 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 ZnEq) over 3.05 m at 23 m below surface.

Hole IB18-006*:

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

* Previously released.

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-per-cent metallurgical recovery using Zn prices at $1.10/pound, Pb at 80 cents/lb and Ag at $15/ounce -- all in United States dollars.

The first drill program at Indy has been a success with the discovery of shallow mineralization at the new B-9 zone, including high-grade massive sulphide mineralization in holes IB18-009 and IB18-003, which remain open for further exploration. Guided by cost-effective soil geochemistry in an area of no surface rock exposure, the exploration drilling provides the first important insights into the distinctive type of mineralization at the B-9 zone and underscores the unique potential of the Indy project.

Emerging geological model

The geological characteristics of the B-9 zone are analogous to a distinctive geological setting, termed vent-proximal, within a sedimentary hosted exhalative-type depositional environment. Sedex-type zinc deposits, the rarer exhalative "cousins" of volcanogenic massive sulphide (VMS) deposits, occur as clusters on a district scale and only within specific ages of sedimentary rock formations referred to as time horizons. The large and well-known deposits occur in the Yukon, Northern British Columbia and Southern British Columbia, Australia, and southern Africa. The Indy project is underlain by sedimentary formations correlated in age by the Geological Survey of Canada (Struik, 1988) to the same time horizons hosting the Sedex deposits of Northern British Columbia and the Yukon. With a large claim position (24-kilometre strike), new discoveries of shallow mineralization and extensive geochemical anomalies remaining to be tested, the Indy project provides multiple opportunities for new discoveries of this type in an unexplored region of central British Columbia. Indy is readily accessible by road from Prince George, the major hub for transportation and heavy industry in central British Columbia and is located 85 km south of the Canadian National Railway.

Peripheral, large exploration targets now in focus

To date, three large soil geochemical anomalies with an aggregate length of 3.2 km occur on the property. Drilling at the B-9 zone (a 270 m long portion of Anomaly B) indicates that soil geochemistry is a cost-effective method of targeting subsurface mineralization. Anomalies C and D remain to be tested by drilling.

Geochemical anomaly    Length (strike)

Anomaly B                      1.5 km          
Anomaly C               700 m -- open    
Anomaly D              1.0 km -- open   

Anomaly B, hosting the mineralization discovered at the B-9 zone, was sampled by the company in 2017 with high zinc in soils outlined over a 1.5 km trend. Additional infill sampling in 2018 supported the discoveries at the B-9 zone. The westward expansion of the geochemical survey in 2018 outlines a strongly anomalous, continuous and untested area of zinc in soil for up to 400 m downslope and 500 m northwest and southeast below the 2018 drill holes.

Expansion and infill soil geochemical surveys at Anomaly C in 2018 outline an area measuring greater than 700 m in length and remaining open for further sampling to the south. To date, 20 per cent of the 147 soil samples at Anomaly C have returned greater than 1,000 parts per million Zn (0.1 per cent Zn) with highs up to 6,314 ppm Zn (0.63 per cent Zn) in soil.

Initial wide-spaced soil survey lines were also completed in 2018 at Anomaly D. This survey indicates a multitrend in an area measuring over one km in length returning numerous high zinc (greater than 500 ppm to 2,654 ppm Zn) responses in soils.

2018 drill program

The 2018 drill program (holes IB18-001 to IB18-010) focused on the southeastern area of Anomaly B, now called the B-9 zone, and generally targeted the upslope limits of anomalous soil geochemistry over a 270 m trend. The only rock exposure in this area is a surface zinc oxide (smithsonite) occurrence which returned 45.5 per cent Zn in a grab sample. Untested soil geochemical anomalies at the B-9 zone extend over 400 m downslope and 500 m northwest and southeast below the 2018 drill holes. A single hole (IB18-011) was completed 900 m north of hole IB18-001.

Drill hole IB18-009

Drill hole IB18-009 was drilled from the site of IB18-002 in a southerly direction, targeting an area of high zinc in soil geochemistry 75 m south of the drill site and 50 m south of the multiple shallow mineralized intersections in holes IB18-001 and IB18-002. The hole commenced in siliceous polymictic sedimentary breccia until 78 m downhole when sphalerite (zinc sulphide) concentrations increased and transitioned between semi-massive to massive form over the following 6.3 m. Several sections of the massive sulphides are very high in zinc grade with one sample from 79.57 m to 80.02 m downhole grading 40.9 per cent Zn. The mineralization occurs at a transition in geology to pyritic-sericite schists and altered siltstones. This is consistent with the location of several of the significant intersections returned from drilling at the B-9 zone. Core recoveries in the mineralization are estimated at 85 per cent.

Drill hole IB18-008

Drill hole IB18-008 was drilled vertically from the site of holes IB18-002 and IB18-009. Mineralization intersected from 55.79 m to 62.52 m (5.76 per cent Zn, 0.48 per cent Pb and 3.41 g/t Ag) consists of fracture fill to semi-massive sphalerite hosted in a silica-flooded sedimentary breccia. Core recoveries are estimated at 90 per cent. This mineralization style and internal position within the sedimentary breccia sequence is consistent with similar but lower-grade material located 125 m to the north in hole IB18-005 and is characteristic of feeder-style mineralization.

Drill holes IB18-007, IB18-005, IB18-010 and IB18-011

Hole IB18-007 was a vertical hole drilled from the same location as hole IB18-006. The hole collared in black shales and transitioned into sedimentary breccia and intercalated grey altered shales and siltstone sequences. A narrow interval grading 1.09 per cent Zn hosted in the sedimentary breccia unit, occurred at 118 m downhole.

Drill holes IB18-005 and IB18-010 were drilled in the 250 m interval between the massive sulphides intersected in hole IB18-003* (9.26 per cent Zn, 2.43 per cent Pb and 17.98 g/t Ag over 3.05 m at 23 m below surface) and the mineralization in holes IB18-002, IB18-008 and IB18-009. Hole IB18-005 intersected 1.13 per cent Zn over 2.75 m at 53 m downhole, and within the siliceous sedimentary breccia unit. As mentioned previously, this mineralization is similar and may reflect an extension of the thicker, higher-grade mineralization intersected 125 m south in hole IB18-008. The lower portions of this hole were affected by loss of core recovery at the transition into pyrite-sericite schists. Hole IB18-010 was a south directed hole and intersected pyrite-sericite schists and ankeritized (carbonate altered) siltstones consistent with footwall sequences seen in other holes at the B-9 zone.

Hole IB18-011 targeted soil responses 900 m to the north of hole IB18-001. Black shales, containing narrow zones of anomalous silver, comprised the entire length of the hole.

                                 INDY BC -- 2018 DRILL HOLE INTERSECTIONS                                                                       
                                                                                                                       
Drill hole (HQ)  From (m)   To (m) Interval (m)  Zinc (%)  Lead (%) Silver (g/t) ZnEq (%) Depth below         Estimated
                                                                                           surface (m) core recovery (%)

IB18-005           40.85    42.38         1.53      2.27      0.03         1.40     2.32           28                35
and                53.05    55.80         2.75      1.13      0.04         0.59     1.17           36                90
IB18-007          118.00   119.00         1.00      1.09      0.17         1.30     1.24          118                85
IB18-008           55.79    62.52         6.73      5.76      0.48         3.41     6.18           56                90
includes           59.77    61.04         1.27     11.25      0.77         5.83    11.93           60               100
IB18-009           78.05    84.34         6.29     12.33      2.98        24.46    14.98           60                85
includes           79.15    80.70         1.55     19.95      3.14        21.21    22.65           62                85
includes           79.57    80.02         0.45     40.88      5.70        45.80    45.93           62                90
includes           81.10    83.45         2.35     18.04      4.45        40.80    22.09           64                75
IB18-010             NSV
IB18-011           65.15    68.80         3.65         -         -         1.20        -                             83
Previously released* 2018 drill results
IB18-001*          38.41    39.50         1.09      2.74      0.37         5.10     3.11           33                96
IB18-002*          35.96    40.24         4.28      4.49      1.13         7.32     5.46           28                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           32                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
IB18-006*          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. The intersections in IB18-002 are separated by lost core/no recovery. ZnEq calculation: 
metallurgical studies have not been completed and assumes 100-per-cent metallurgical recovery using Zn prices at 
$1.10/lb, Pb at $.80/lb and Ag at $15/oz -- all in U.S. dollars. 

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.

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., Canada, for analysis. Samples were prepared by MS Analytical and analyzed by ICP-AES and ICP-AES/MS. In addition to the labs 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.

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