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Zinc One gets approval for 124 drill platforms on Bongará Zinc Mine in Peru

Staff Writer |
Zinc One Resources announced that the Peruvian Ministry of Energy and Mines (MEM) has approved the permit of 124 drill platforms for the purpose of delineating mineral resources at the Company’s Bongará Zinc Mine Project.

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Drilling is expected to commence early January 2018. Results from the drill program will be used to advance the Bongara Zinc Mine Project along a development timeline and towards a preliminary economic assessment (PEA).

The permit allows for drilling of up to three holes per platform with an average drill depth of approximately 25 metres.

Results of the drill program will be used to prepare a resource estimate according to National Instrument 43-101 (NI 43-101) anticipated by the end of Q2 2018.

Construction of the drill camp is expected to be completed by end of December with up to four portable drill rigs mobilized soon thereafter.

James Walchuck, Zinc One president and CEO stated, "This is one of the most important milestones we have reached thus far.

"This permit will allow the Company to drill the areas of known mineralization in the Mina Grande, Mina Chica, and Bongarita sectors and, in conjunction with the results from the ongoing surface and pit sampling, allow us to complete a resource estimate that a PEA can be based on.

"We are confident that we will be able to confirm the historic resource – 1Mt of 21.6% Measured and Indicated and 0.21Mt of 21.2% Inferred.

"This is especially significant since the Mina Chica and Bongarita sectors have never been drilled and we believe that our drill program will be able to really define the zinc-rich zones of mineralization on the Mina Chica, Bongarita and Mina Grande sectors of the project."

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