Pasinex Resources Announces Sale of High-Grade Zinc Material From Its Pinargozu Mine in Turkey
December 11 2014 - 12:02PM
Pasinex Resources Limited ("Pasinex") (the "Company")
(CSE:PSE) (FSE:PNX) is pleased to announce the sale of up
to 5,000 tonnes of high-grade zinc mineralized material from its
Pinargozu mine for an expected value to be well over US $1 million.
Mr. Steve Williams, President and CEO said: "We have been mining
now for nearly six months at our Pinargozu zinc mine and have
produced about 5,000 tonnes of material grading about +30% Zn. The
sale of our mined product is a significant step forward for the
Company and it indicates the important potential presented to us by
the Pinargozu project and the Horzum AS joint venture. I now look
forward to moving ahead to our next important milestones which are
to start to build a resource at Pinargozu and, in 2015, to further
expand mine production there."
The Pinargozu mine is a 50/50 joint venture, called Horzum AS,
with Turkish mining company Akmetal AS ("Akmetal"). The sale of the
high-grade zinc material is made by the joint venture to Akmetal,
who in turn sell the material, together with other zinc products,
to third parties.
Proceeds from the sale will be used to fund ongoing exploration
and mining at Pinargozu and general costs for Pasinex Turkey
operations.
About Pasinex
Pasinex Resources Limited (CSE:PSE) (FSE:PNX) 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 the Pinargozu and Akkaya
zinc projects in Adana province, Turkey. There, they are focused on
small scale high-grade zinc mining from the Pinargozu project.
Pasinex also has the Golcuk copper project in Sivas province,
Turkey which is being systematically explored and advanced. 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 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. 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.
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