VANCOUVER, Sept. 25, 2013 /CNW/ - Pasinex Resources Limited (CNSX : PSE)
(FSE: PNX) is pleased to announce the results of its first phase
channel sampling exercise conducted on the Golcuk South mineral
occurrence in the south-western sector of its Golcuk Property, located
in the Sivas Province of north-central Turkey.
The exercise was carried out as a follow-up to the high copper values
found by Pasinex earlier in 2013 in "spot" surface rock samples at
Golcuk South, and described in a news release dated 11 July, 2013. The
purpose of the channel sampling was to measure the extent to which the
high copper levels in outcrop samples persisted into the rocks hosting
the outcrop spots sampled.
Before the exercise was initiated, confirmatory assays on a
representative subset of the Golcuk South rock samples were requested
from SGS (Ankara), which assays are reported in Table 1 below, and
which assays suggest that Pasinex's Niton XRF instrument provides
copper assays on average somewhat lower than SGS, but of adequate
accuracy for the target characterization in which Pasinex is engaged.
This first phase of channel sampling was conducted over the same general
area as the original outcrop sample sites previously reported by
Pasinex, with an emphasis on the western side of the mineralized area.
The second phase of channel sampling, currently in progress, focuses on
the eastern side. Because Pasinex does not yet have the necessary
permits to dig trenches at Golcuk South, sampling had to take place in
areas with adequate outcrop for channel sampling. Outcrops with
dimensions allowing for cutting of a minimum 1.5m channel sample were
chosen for sampling, and channels were orientated so as to optimize the
quality of cut sample, leading to effectively random channel
orientations.
Individual channel sampling results are presented in Figure 1 below,
alongside the outcrop samples reported in July.
The length-weighted, average copper value for all the channels sampled
is 0.41% copper. The distribution of channel samples over the area of
interest is considered adequate to support 0.4% copper as a valid
approximation of the potential average copper grade of the area
sampled.
To gain insight into the potential variability of copper levels in the
area sampled, channel samples have been clustered based on proximity,
and length-weighted averages calculated for each cluster. Cluster
averages are presented in Figure 2 below, and range from 0.21% copper
to 0.70% copper. These values provide realistic lower and upper
estimates of the true average copper grade which may be expected of the
area sampled.
At the same time, these results provide strong justification for further
work on better characterizing the size and grade of the discovered
mineralized area with a view to delimiting a volume of ore containing
economically extractable copper. Consequently, a second phase of
channel sampling is ongoing at Golcuk South, and permitting is being
arranged for both trenching and drilling operations.
Steve Williams, CEO of Pasinex comments: "I am delighted with progress
on Golcuk South which has the potential to quickly develop into an
at-surface, easy-to-mine copper deposit. As soon as we have
drill-derived samples from below the surface, we will be submitting
them for metallurgical evaluation."
About Pasinex
Pasinex Resources Limited is a base and precious-metal focused
exploration company with priority given to building a strong portfolio
of base metal exploration opportunities in Turkey. Pasinex's key
projects are the Golcuk Copper-Silver Project located in Sivas, Turkey,
and the Joint Venture, Horzum Zinc-Lead Project with Akmetal Group in
Adana, Turkey. The company is led by an experienced team with many
years of experience in both in the mining and mineral exploration
industries around the world.
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.
On Behalf of the Board of Directors
PASINEX RESOURCES LTD.
"Steve Williams"
President/CEO
The CNSX 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 market prices, continued availability of capital and
financing, exploration 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.
Sample
Number
|
Niton
XRF
Copper
(ppm)
|
Niton
XRF
Copper
(%)
|
SGS (ICP)
Copper
(ppm)
|
SGS (AA)
Copper
(%)
|
(SGS-Niton)
as
Copper
%
|
PR2049
|
|
7.56
|
|
8.16
|
8
|
PR2031
|
|
4.07
|
|
4.74
|
17
|
PR2043
|
|
3.48
|
|
3.84
|
10
|
PR2071
|
|
2.84
|
|
2.99
|
5
|
PR2057
|
|
2.78
|
|
3.16
|
14
|
PR2059
|
|
2.61
|
|
2.74
|
5
|
PR2053
|
|
2.47
|
|
2.74
|
11
|
PR2029
|
|
2.30
|
|
2.50
|
9
|
PR2079
|
|
2.25
|
|
3.12
|
39
|
PR2067
|
|
2.20
|
|
2.12
|
-4
|
PR2045
|
|
2.19
|
|
2.38
|
9
|
PR2041
|
|
2.15
|
|
3.23
|
50
|
PR2073
|
|
2.01
|
|
2.03
|
1
|
PR2061
|
|
1.91
|
|
2.15
|
13
|
PR2033
|
|
1.77
|
|
1.72
|
-3
|
PR2021
|
|
1.75
|
|
1.35
|
-23
|
PR2037
|
|
1.60
|
|
2.05
|
28
|
PR2051
|
|
1.26
|
|
1.40
|
11
|
PR2047
|
|
1.25
|
|
1.27
|
2
|
PR2077
|
|
1.24
|
|
1.33
|
7
|
PR2055
|
|
1.24
|
|
1.21
|
-2
|
PR2023
|
|
1.21
|
|
1.08
|
-10
|
PR2075
|
|
1.19
|
|
1.34
|
13
|
PR2069
|
|
0.96
|
|
1.11
|
16
|
PR2063
|
8740
|
|
7285
|
|
-17
|
PR2039
|
7153
|
|
8023
|
|
12
|
PR2065
|
6250
|
|
7128
|
|
14
|
PR2035
|
3617
|
|
2419
|
|
-33
|
PR2017
|
1100
|
|
1268
|
|
15
|
PR2027
|
114
|
|
98
|
|
n/a
|
PR2025
|
97
|
|
82
|
|
n/a
|
PR2019
|
23
|
|
14
|
|
n/a
|
Table 1: Comparison of Golcuk South copper assays from Pasinex' Niton
XRF instrument and assays from SGS (Ankara).
SOURCE Pasinex Resources Ltd.