Toronto, Ontario--(Newsfile Corp. - January 11, 2017) - Nevada Zinc Corporation (TSXV: NZN) ("Nevada Zinc" or the "Company") is
pleased to report drill hole assay results for the first 9 drill holes from its Phase 5 drill program at the Company's Lone
Mountain project (the "Project").
The Company has successfully completed its Phase 5 program which included a total of 24 drill holes, completion of additional
surface geological mapping and prospecting, completion of some limited geophysical test work and also completion of some additional
specific gravity testing of mineralized material. The Company anticipates receipt of assay results for the remaining 15 drill holes
over the course of this month.
Nevada Zinc President and CEO, Bruce Durham commented, "these initial Phase 5 assay results which include some holes from each
of the Discovery and Mountain View Mine areas extend the limits of the known areas of mineralization. We are very encouraged by the
results in this group of drill holes and we look forward to receiving the remainder of the assay results. The drilling we are doing
at this point has been focused in these two areas of mineralization as we continue to fill in some gaps in the mineralized bodies
as well as extend the overall limits of the mineralized zones."
Highlights
-
Drill hole LM 16-71 intersected significant high grade zinc-lead mineralization over a 22.86 metre interval from 88 metres
downhole grading 17.49% zinc and 1.23% lead (18.72% zinc+lead) southwest of the historic mine workings on the Mountain View
Mine property.
-
Drill holes LM-16-63, 64, and 65 extend the Discovery zone mineralization down dip in a north to northeasterly
direction.
-
Drill hole LM-16-64 intersected a broad zone of zinc mineralization from 184.4 metres downhole that averaged 3.99% zinc and
0.21% lead over 53.34 metres, including a 30.48 metre interval that averaged 5.99% zinc.
-
The Discovery zone zinc mineralization remains untested at depth to the northeast beyond holes LM-16-63, 64 and 65.
-
All zinc and lead mineralization intersected to date on the Project is non-sulphide type mineralization (important in that
the mineralization is not a mixture of sulphide and non-sulphide which would complicate the extractive metallurgy process).
Drill Hole Summary Information
C Hole ID |
NLM-16-63 |
|
|
|
|
Easting |
563089 |
|
|
|
|
Northing |
4385381 |
|
|
|
|
Az. |
120 |
degrees |
|
|
|
Dip |
-90 |
degrees |
|
|
|
Depth (m) |
252.98 |
metres |
|
|
|
|
|
|
|
|
|
From (m) |
To (m) |
Interval (m) |
Zn (%) |
Pb (%) |
Zn+Pb (%) |
182.88 |
185.93 |
3.05 |
3.09 |
0.34 |
3.43 |
and |
228.60 |
237.74 |
9.14 |
5.21 |
0.89 |
6.10 |
|
|
|
|
|
|
RC Hole ID |
NLM-16-64 |
|
|
|
|
Easting |
563114 |
|
|
|
|
Northing |
4385368 |
|
|
|
|
Az. |
120 |
degrees |
|
|
|
Dip |
-90 |
degrees |
|
|
|
Depth (m) |
271.27 |
metres |
|
|
|
|
|
|
|
|
|
From (m) |
To (m) |
Interval (m) |
Zn (%) |
Pb (%) |
Zn+Pb (%) |
184.40 |
237.74 |
53.34 |
3.99 |
0.21 |
4.20 |
including |
207.26 |
237.74 |
30.48 |
5.99 |
0.06 |
6.05 |
including |
233.17 |
237.74 |
4.57 |
21.43 |
0.08 |
21.51 |
|
|
|
|
|
|
RC Hole ID |
NLM-16-65 |
|
|
|
|
Easting |
563140 |
|
|
|
|
Northing |
4385352 |
|
|
|
|
Az. |
210 |
degrees |
|
|
|
Dip |
-80 |
degrees |
|
|
|
Depth (m) |
237.74 |
metres |
|
|
|
|
|
|
|
|
|
From (m) |
To (m) |
Interval (m) |
Zn (%) |
Pb (%) |
Zn+Pb (%) |
198.12 |
213.36 |
15.24 |
3.56 |
0.01 |
3.57 |
including |
205.74 |
213.36 |
7.62 |
5.35 |
0.01 |
5.36 |
|
|
|
|
|
|
RC Hole ID |
NLM-16-68 |
|
|
|
|
Easting |
563294 |
|
|
|
|
Northing |
4384961 |
|
|
|
|
Az. |
30 |
degrees |
|
|
|
Dip |
-50 |
degrees |
|
|
|
Depth (m) |
60.96 |
metres |
|
|
|
|
|
|
|
|
|
From (m) |
To (m) |
Interval (m) |
Zn (%) |
Pb (%) |
Zn+Pb (%) |
10.67 |
16.76 |
6.10 |
3.08 |
0.03 |
3.11 |
|
|
|
|
|
|
RC Hole ID |
NLM-16-69 |
|
|
|
|
Easting |
563295 |
|
|
|
|
Northing |
4384959 |
|
|
|
|
Az. |
160 |
degrees |
|
|
|
Dip |
-90 |
degrees |
|
|
|
Depth (m) |
109.73 |
metres |
|
|
|
|
|
|
|
|
|
From (m) |
To (m) |
Interval (m) |
Zn (%) |
Pb (%) |
Zn+Pb (%) |
71.63 |
80.77 |
9.14 |
6.94 |
3.56 |
10.50 |
including |
73.15 |
76.20 |
3.05 |
16.68 |
9.90 |
26.58 |
|
|
|
|
|
|
RC Hole ID |
NLM-16-71 |
|
|
|
|
Easting |
563275 |
|
|
|
|
Northing |
4384928 |
|
|
|
|
Az. |
340 |
degrees |
|
|
|
Dip |
-45 |
degrees |
|
|
|
Depth (m) |
143.26 |
metres |
|
|
|
|
|
|
|
|
|
From (m) |
To (m) |
Interval (m) |
Zn (%) |
Pb (%) |
Zn+Pb (%) |
88.39 |
111.25 |
22.86 |
17.49 |
1.23 |
18.72 |
including |
89.92 |
102.11 |
12.19 |
27.61 |
2.05 |
29.66 |
Note: Hole LM-16-66, 70 - no significant results
Note: Hole LM-16-67 results pending, LM-16-72-86 results pending
Sample Preparation and Quality Control
Supervision and organization of reverse circulation drilling chip samples was undertaken by Company personnel. Samples were
collected at 5-ft intervals from a rotating wet splitter assembly attached to the drill rig. Chip tray samples were collected from
the reject side of the wet splitter. The splitter was adjusted to produce 10-20 lbs of sample. Samples were collected from the
drill in cloth bags by employees of New Frontier Drilling under the supervision of Company personnel. Samples were catalogued by
Nevada Zinc geologists and stored in a secure location. Certified reference standards were placed in the sample stream of each
drill hole at random intervals. Blank material was also inserted at random intervals.
Assay Techniques
Preparation of the samples was done at the ALS Chemex Elko, NV facility. A 250 gram master pulp was taken, then splits were sent
to ALS's North Vancouver, BC facility or their Reno, NV facility. A 48 element package using a 4 acid digestion with ICP-AES and
ICP-MS completed on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% zinc or lead), the
procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis). In the case of values exceeding the limits
of the ore grade analysis (30% zinc, 20% lead), the procedure was to use specialized titration methods.
Laboratory QA/QC
Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include
OREAS-133b, OREAS-134b, OGGeo08, and CZN-4. No issues were noted with analytical accuracy or precision.
ALS Chemex's Reno, Elko, and North Vancouver locations have ISO/IEC 17025:2005 accreditation.
Bruce Durham P.Geo, President and CEO of Nevada Zinc, is a Qualified Person, as that term is defined by Canadian regulatory
guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press
release.
The Lone Mountain Project
While the Company maintains its highly prospective Yukon gold properties and continues to advance them, the current focus of the
Company is the exploration and advancement of the highly prospective Lone Mountain zinc project comprised of 224 claims covering
approximately 4,000 acres near Eureka, Nevada.
The Lone Mountain Project is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly
from Eureka where all essential services are available. The Project includes options, leases or purchase agreements to acquire 100%
interests in all properties along the key structural trend for more than 4 kilometres.
An updated map showing the location of the Phase 5 drill holes is available on the Company's website: www.nevadazinc.com
About Nevada Zinc
Nevada Zinc is a discovery driven mineral exploration company with a proven management team focussed on identifying unique
mineral exploration opportunities that can provide significant value to its shareholders. The Company's existing zinc and gold
projects are located in Nevada and Yukon, respectively.
For further information
contact:
Nevada Zinc Corporation
Suite 1660, 141 Adelaide St. West
Toronto, Ontario M5H 3L5
Tel: 416-504-8821
Bruce Durham, President and CEO
bdurham@nevadazinc.com
www.nevadazinc.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content
of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such statements.