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Pasinex Resources Announces the Latest Sale of High-Grade Sulphide Zinc from Pinargozu Mine
TORONTO, ONTARIO--(Marketwired - Feb. 16, 2017) - Pasinex Resources Limited (CSE:PSE)(FRANKFURT:PNX) (the "Company" or "Pasinex") today announced the completion
About this update from Pasinex Resources Ltd.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - Feb. 16, 2017) - Pasinex Resources Limited (CSE:PSE)(FRANKFURT:PNX) (the \"Company\" or \"Pasinex\") today announced the completion of a sale of high grade zinc sulphide from the Pinargozu Mine, Adana, Turkey. A total of 1,359.33 tonnes (wet weight) of material assaying an average of 46.1% Zn and about 200 g/ tonne Ag (provisional assay) was sold to an international trading house. The material was sold for over US$900 / tonne and the production costs for this material, based on previously disclosed Q3 2016 financial information, is anticipated to be approximately US$308.80 / tonne. Steve Williams, President and CEO of Pasinex Resources Limited commented, \"We are pleased to report on-going production at the Pinargozu Mine. This is the latest sulphide sale and the first produced this year from the new third adit at Pinargozu. Once again this production of high-grade sulphide material is an added bonus to the run-of mine non-sulphide zinc production reported in previous news releases.\" Full production statistics, financial results and the Management Discussion and Analysis is filed quarterly. 2016 year-end results will be published in April, followed by Q1 2017 in May. Over the last 2 years, production at the Pinargozu Mine has come from two adits and then late in 2016 production was expanded to three adits. Mine planning for the next 5 years is based on mineralized volumes delineated by fan drilling from key drill stations on surface and underground. A key objective over the coming months is to complete a NI 43-101 resource estimate prepared by an independent qualified person. Pinargozu Zinc Mine and Horzum Zinc Trend (HZT) Mining is predominantly exploiting very high-grade non-sulphide zinc mineralization from two adits. The new third adit, opened in August 2016, is deeper and accesses exceptionally high-grade zinc sulphide- mineralization in addition to predominantly non-sulphide mineralization. The grade of the mined non-sulphide material consistently exceeds the 25% zinc threshold for direct shipping to zinc processing plants and the sulphide zinc material (sphalerite) is averaging over the required 45% zinc threshold. Pinargozu is one of several exploration targets along the Horzum Zinc Trend (HZT), in southern Turkey. The HZT consists of a series of Carbonate-Replacement-Deposits (CRDs). Th...