22:11:56 EST Tue 18 Feb 2020
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Inzinc Mining Ltd
Symbol IZN
Shares Issued 108,885,419
Close 2019-04-10 C$ 0.04
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Inzinc Mining plans summer exploration at Indy

2019-04-10 09:56 ET - News Release

Mr. Brian McGrath reports

INZINC ENHANCES DISTRICT POTENTIAL AND PLANS PROGRAMS AT INDY ZINC PROJECT, BC

Inzinc Mining Ltd. is planning summer exploration programs at the Indy zinc project located 100 kilometres southeast of Prince George in central British Columbia. The additional, contiguous claims acquired by staking in the third quarter of 2018 extended the property to over 25 kilometres in length and encompass an additional zinc-in-soil geochemical anomaly, called the Action anomaly. The Action anomaly was delineated by Noranda Exploration in 1989 and consists of multiple high contrast (up to 3,400 parts per million) soil geochemical samples over a trend of 800 metres.

An aggregate length of 4.0 kilometres of zinc in soil, in four separate anomalies, now comprise the Indy project. The 2019 exploration program will include extensive soil geochemical programs, commencing in June, to prioritize these targets for drilling. In 2018, a successful drill program tested an area of one anomaly and identified a new zone of near-surface mineralization called the B-9 zone, which remains open for expansion.

2018 drill program identified new zone of near-surface mineralization

The 2018 drill program, the company's first drill program at Indy, discovered shallow 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 metres apart and remain open for further exploration.

Hole IB18-009:

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

Note: Drilled intersections are apparent widths only. 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.

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 (sedex) 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.

Four large exploration targets now in focus

To date, four large soil geochemical anomalies with an aggregate length of 4.0 km occur on the property. Preliminary drilling at the B-9 zone (a 270 m long portion of Anomaly B) indicated that soil geochemistry is a cost-effective method of targeting subsurface mineralization. Anomalies Action C and D remain to be drill tested by the company.

 
Geochemical anomaly      Length (strike)

Anomaly B                        1.5 km         
Anomaly C                 700 m to open   
Anomaly D                1.0 km to open  
Action                    800 m to open   

PX project term sheet

On April 3, 2019, the company signed a term sheet with Ash-ley Woods LLC, a private limited liability company, for Ash-ley to earn a 35-per-cent interest in PX by completing an initial drill program. The PX project is a grassroots, exploration-stage project located in Utah and was acquired, by staking, in 2018.

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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