Pasinex Resources Announce Next Lot Sale of 1478 Tonnes of 38% Zinc Mineral Product from Pinargozu Mine
Toronto, Ontario / ACCESSWIRE / November 26, 2015 / Pasinex Resources Ltd. (CSE: PSE) (FSE: PNX) (the "Company" or "Pasinex") today announced that Horzum A.S., a 50 / 50 joint venture company between Pasinex and Turkish mining house Akmetal A.S., has completed another lot sale of 1478 tonnes wet weight (1402 tonnes dry weight) of high grade zinc mineral material (at approximately 38% Zn) from its Pinargozu zinc mine in Adana province, Turkey. This lot represents over 1,100,000 lbs of contained zinc metal, and together with the previously announced lot sales from Pinargozu in August and October, now brings total production to 13,906 tonnes (wet weight) of zinc mineral material with about 9,000,000 lbs of contained zinc.
Steve Williams, President and CEO of Pasinex commented, "We are yet again proud to report on Pinargozu mine production. We continue to mine high grade direct shipping zinc mineral product and sell it. Production is being stepped up and has recently been averaging around 40 tonnes per day, to as much as 60 tonnes per day. We have increased our mining areas ̶ from two to now three, and have staffed up. This is an exciting time for our growth, as we build Pinargozu into a small, but strong zinc mine. We're focusing our exploration efforts there and in the Akkaya area where we think there is much more zinc to be found."
About Pasinex
Pasinex Resources Ltd. (CSE: PSE) (FSE: PNX) is a base-metal and precious-metal focused Company with a goal to build a mid-tier international mining company. The Company's initial priority is to build a prospective 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. The focus of Pasinex is to build a mid-tier zinc company based on their Turkey zinc projects.
The Pinargozu mine is included in the 50-50 company, Horzum Arama Isletme AS (Horzum AS), which is a corporate joint venture between Pasinex and Turkish mining house, Akmetal Madencilik San ve Tic. AS (Akmetal AS). Akmetal A.S is one of Turkey's largest family-owned conglomerates with the past-producing Horzum zinc Mine nearby.
Visit our web site at: www.pasinex.com
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. 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 Property, and other properties in its portfolio, all exploration drilling results, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate. Readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
Source: Pasinex Resources Ltd.
