Pasinex Resources Limited Announces Start of Drilling on Its Pinargozu Zinc-Lead Project in Adana Province, Turkey
May 21 2014 - 8:32AM
Pasinex Resources Limited (CSE:PSE) (FSE:PNX) is pleased to
announce the start of Phase 1 diamond drilling on its 50% owned
Pinargozu zinc-lead project in Adana Province, Turkey. Pinargozu is
also 50% owned by Pasinex's partner in Adana, Akmetal Madencilik
San ve Tic A.Ş.
Drilling started on Borehole PPU14-006 on Saturday, 17 May. The
borehole is one of 22 boreholes for which targets have been
identified at Pinargozu – some from geological features of
already-mined zinc oxide ore, and some from ground penetrating
radar (GPR) surveys.
Borehole PPU14-006 is targeted on downward-continuation, in a
mineralized structure, of ore mined from the 707 level of the old
artisanal mine at Pinargozu, and is shown on Figure 1 below.
Figure 1 also shows all other drill sites identified at
Pinargozu and slated for possible drilling to date, subject to
ongoing drilling results. It also shows the locations of surface
GPR survey profiles recently completed at Pinargozu, and targets
identified within them.
Like most other geophysical exploration methods, GPR surveys can
identify physical features and changes in rock properties – some of
which may be inferred to relate to economic mineralization, and
therefore to merit drilling for sample recovery and analysis. The
physical rock features at Pinargozu which are believed to be
related to mineralization are cavities, faults, fissures and
stratigraphy – evidence for all of which are present in the GPR
survey results from Pinargozu. As drilling results become
available, relationships between actual rock properties, the GPR
profiles they have produced at Pinargozu, and economic
mineralization, should become clearer, with the result that the
interpretations and drilling plans shown on Figure 1 may
change.
Pinargozu is a small, historic, marble-hosted zinc oxide mine
located in steep topography 7 kilometers along strike from the
historic Horzum zinc/lead Mine. The topography over which the
Pinargozu GPR surveys were undertaken is steeper than that in any
documented GPR surveys known to Pasinex. It has called for
specialist data reduction techniques to be implemented by the GPR
contractor (GroundRadar) with which Pasinex has been fully
satisfied.
Steve Williams, CEO, comments "Pasinex has entered into another
important stage of the company's development with the beginning of
drilling at Pinargozu. We look forward to the results from this
drill campaign."
Clinton Smyth, P.Geo and VP Exploration for Pasinex, is the
qualified person as defined by National Instrument 43-101 who has
verified the written disclosure of all scientific and technical
information in this news release.
About Pasinex
Pasinex Resources Limited (CSE:PSE) is a base and precious
metal-focused exploration company with a particular initial
priority given to building a strong portfolio of base metal
opportunities in Turkey. The Company has a strong technical
management team with many years of experience in mineral
exploration and mining project development.
On Behalf of the Board of Directors PASINEX RESOURCES
LTD.
"Steve Williams" Steve Williams President/CEO Phone: 416 861
9659 Email: info@pasinex.com
The CSE does not accept responsibility for the
adequacy or accuracy of this news release.
This news release includes forward-looking statements that are
subject to risks and uncertainties. Forward-looking statements
involve known and unknown risks, uncertainties, and other factors
that could cause the actual results of the Company to be materially
different from the historical results or from any future results
expressed or implied by such forward-looking statements.
All statements within, other than statements of historical fact,
are to be considered forward looking. Although Pasinex Resources
Ltd. believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include: the
forgoing ability to finance exploration in order to further the
Pinargozu project in 2014, the economic potential of GPR identified
drill targets, all exploration drilling results, and general
economic, market or business conditions. There can be no assurances
that such statements will prove accurate and, therefore, readers
are advised to rely on their own evaluation of such uncertainties.
We do not assume any obligation to update any forward-looking
statements.
To view an image of the proposed diamond drilling
map (Figure 1), please visit:
http://orders.newsfilecorp.com/files/3243/9998_imagex1x1enhanced.jpg
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