Business
Pasinex Resources Announces Maiden Resource Estimate for Pinargozu Zinc Mine in Turkey
TORONTO, ONTARIO--(Marketwired - Nov. 9, 2017) - Pasinex Resources Limited (CSE:PSE) (CSE:PSE.CN) (CNSX:PSE) (FRANKFURT:PNX) (The "Company" or "Pasinex") is ple
About this update from Pasinex Resources Ltd.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - Nov. 9, 2017) - Pasinex Resources Limited (CSE:PSE) (CSE:PSE.CN) (CNSX:PSE) (FRANKFURT:PNX) (The \"Company\" or \"Pasinex\") is pleased to announce a maiden Mineral Resource estimate by CSA Global (UK) Ltd of 200,000 tonnes averaging 31% Zn for the Company's 50%-owned Pinargozu zinc mine in southern Turkey. This resource equates to 61,600 tonnes of contained zinc metal or approximately 135,700,000 lbs of zinc. Three quarters of the resource tonnage is oxide at an average grade of 29% zinc and one quarter of the tonnage are zinc sulphides at an average grade of 35% zinc with additional silver credits. Pinargozu Mineral Resources Mineral Resource Estimate as at 30 June 2017 Reported at a cut-off grade of 10% Zn Zn Grade Zn Metal Density Pb Metal Ag Metal Classification Material Ktonnes % Ktonnes (t/m3) Ktonnes Koz Inferred Oxide 150 29 43.5 2.8 1.2 520 Sulphide 50 35 18.1 3.4 1.2 160 Total 200 31% 61.6 2.9 2.4 680 Notes: Reporting cut-off is 10% Zn for both Oxide and Sulphide Resources. The Mineral Resource Estimate has been depleted for mining up to 30th June 2017. The effective date of Mineral Resource is 30th June 2017. Figures have been rounded to the appropriate level of precision for the reporting of Mineral Resources. Due to rounding, some columns or rows may not compute exactly as shown. The Mineral Resources are stated as in situ dry tonnes. All tonnage figures are in metric tonnes. The Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council, and procedures for classifying the reported Mineral Resources were undertaken within the context of the Canadian Securities Administrators National Instrument 43-101 (NI 43-101). Mineral Resources that are not Mineral Reserves do not demonstrate economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. - President and CEO of Pasinex Resources, Mr. Steve Williams, commented: \"This result now formally underpins our high-grade zinc production and direct ship operation (DSO) for the next few years. We have found that mining is the best way to explore the potential of this extraordinary deposit. Underground dev...