18:04:54 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Nevada Zinc Corp
Symbol NZN
Shares Issued 73,141,128
Close 2017-11-20 C$ 0.22
Market Cap C$ 16,091,048
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Nevada Zinc drills 16.6 m of 12.79% Zn at Lone Mountain

2017-11-21 01:02 ET - News Release

Mr. Bruce Durham reports

NEVADA ZINC CORE DRILLS 16.62 METRE (54.5 FOOT) INTERVAL ASSAYING 12.79% ZINC AND 8.84% LEAD (21.63% ZINC+LEAD) IN AN OVERALL INTERVAL OF 91.5 METRES (300 FEET) AVERAGING 7.67% ZINC AND 1.91% LEAD (9.58% ZINC+LEAD)

Nevada Zinc Corp. has released the first cored drill hole assay results from its 13-hole core drill program recently completed at the company's Nevada-based Lone Mountain zinc project. Results for 11 of the confirmation and stepout core drill holes are pending.

The company's drill program is the first core drill program completed on the Lone Mountain zinc project since the 1940s and follows up on the company's 83 reverse circulation drill holes completed between 2014 and 2016.

Bruce Durham, president and chief executive officer of Nevada Zinc, commented: "Assay results from our first core hole exceeded expectations. The RC [reverse circulation] discovery hole we drilled at this location in 2014 returned a high-grade and extensive interval of zinc and lead mineralization grading 7.56 per cent zinc plus lead over 89.92 metres. This core hole returned a slightly longer interval of 91.5 metres; however, it assayed more than 26 per cent higher than the RC drill hole, assaying a combined 9.58 per cent zinc plus lead over the 91.5-metre or 300-foot interval. With current strong zinc prices and a forecast for a continuation of strong zinc prices going forward, our Lone Mountain zinc project is very well positioned, and we are anxious to receive the remaining assay results from this initial core drill program."

Highlights

Core hole assay results from NLM-17-01 include a 16.620-metre (54.5-foot) interval assaying 12.79 per cent zinc and 8.84 per cent lead (21.63 per cent zinc plus lead) within an overall interval of 91.5 metres (300 feet) grading 7.67 per cent zinc and 1.93 per cent lead (9.58 per cent zinc plus lead).

Hole NLM-17-01 twinned the original RC drill hole (NLM-14-01) at that location. The RC drill hole intersected an interval of 89.92 metres (295 feet) assaying 6.22 per cent zinc and 1.34 per cent lead (7.56 per cent zinc plus lead). Drill hole NLM-17-01 provides important comparative assay information, as well as geological data, that will be used in the company's continuing analysis and future reporting.

The average grade of core hole NLM-17-01 is a significant 26.7 per cent higher than the average grade in RC drill hole NLM-14-01.

Core hole assay results are still pending for 11 additional holes.

The top of the mineralization in core hole NLM-17-01 is at a vertical depth of approximately 100 metres.

The overall 91.5-metre interval in hole NLM-17-01 included approximately 15.24 metres (50 feet) of areas with little or no core recovery that were included at zero grade in the interval average, thereby reducing the overall reported average grade.

Hole NLM-17-02 intersected 18.3 metres (60 feet) of mineralization grading 4.6 per cent zinc approximately 25 metres behind (to the northeast of) the intersection in RC hole NLM-16-64, one of the deepest holes on the Lone Mountain property.

                                 DRILL RESULTS

Hole ID          From (m)      To (m)   Interval (m)     Zn %      Pb %     Zn+Pb %

NLM-17-01         118.04      209.54          91.50      7.67      1.91        9.58
including         118.04      134.66          16.62     12.79      8.84       21.63
and               157.38      168.36          10.98     16.34      1.24       17.58
and               198.86      204.96           6.10     20.08      0.06       20.14
NLM-17-02         226.62      244.92           18.3       4.6     0.001         4.6

Hole NLM-17-01 drilled at a minus-70-degree dip and a 180-degree azimuth, and hole NLM-17-02 drilled at a minus-88-degree dip and a 120-degree azimuth.

True widths are not known at this time.

An updated location map is provided on the company's website.

About Nevada Zinc Corp.

Nevada Zinc is a discovery driven, early-stage mineral exploration company with a proven management team focused on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders.

While the company continues to maintain a significant equity interest in the highly prospective Yukon gold properties through its majority ownership position in Generic Gold Corp., the current focus of the company is the exploration and advancement of the Lone Mountain zinc project composed of 224 claims covering approximately 4,000 acres near Eureka, Nev.

The company also recently obtained the right under an option agreement to earn up to an 80-per-cent interest in the MacBride zinc project in Northern Manitoba (see the company's press release dated Oct. 23, 2017).

Bruce Durham, PGeo, president and chief executive officer of Nevada Zinc, is a qualified person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release.

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