Glemmark to Acquire Scotia Zinc-Silver Project

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Glemmark to Acquire Scotia Zinc-Silver Project(via Thenewswire.ca) Vancouver, BC / TNW-ACCESSWIRE / November 11 2014 / Glenmark Capital Corp. (TSX.V: GLM, OTCBB: GLRKF) ("Glenmark" or the "Company") is pleased to announce that it has entered into an agreement with GeoNovus Minerals Corp. whereby the Company can earn a 100% interest in the Scotia Zn-Ag Project, which covers an area of ~4040 hectares in the Skeena Mining Division, ~40km southeast of Prince Rupert in west central British Columbia, Canada. The Scotia Project hosts a metamorphosed massive sulfide deposit located within the Ecstall Belt of metavolcanic rocks that extends through west-central British Columbia. Resource modeling of the Albere Zone in 2009 established a vertical range of mineralization of 95 meters, and a horizontal range of 205 meters. The high grade "core" area widened to about 30 meters about 190 meters north of the outcropping main showing. The thickest drill intercept in the Albere Zone was 26.7 meters grading 9.0% zinc, 1.2% lead, 21.5 g/t silver and 0.3 g/t gold. A Resource Estimate was calculated for the Albere Zone by Giroux Consultants Ltd., based on forty-two drill holes totaling 4,343 meters. The results from a 1997 drilling program comprised most of the data used in the modeling, with much of the core re-assayed in 2008 to confirm earlier results. Ordinary kriging was used to interpolate blocks based on mineralization content. Based on a 1% Zn cut-off, the Measured plus Indicated Resource within the 3-D mineralized shell totals 802,000 tonnes grading 4.9% Zn, 13.9 g/t Ag, and 0.2 g/t Au with an additional 702,000 tonnes grading 4.5% Zn, 13.7 g/t Ag and 0.2 g/t Au classed as Inferred. Economic parameters have not been defined by the current resource estimate as to an appropriate cut-off for various types of mining. Geological information and resource estimates for the Scotia Property have been drawn exclusively from the Scotia Property Technical Report (2011) by Arne Birkeland, P.Eng. and Gary Giroux, P.Eng. As part of this transaction, Glenmark contemplates filing its own technical report on the Scotia Property. In compliance with National Instrument 43-101 the Company intends to file a Technical Report containing resource estimates within 45 days of dissemination of this news release. To expand known mineralization, an airborne AeroTEM Mag/EM survey was conducted by ...

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