Nevada Zinc Announces Filing of Technical Report on the Lone Mountain Project
Toronto, Ontario--(Newsfile Corp. - February 27, 2017) - Nevada Zinc Corp. (TSXV: NZN) ("Nevada Zinc" or the "Company") is pleased to announce that the technical report entitled "Technical Report on the Lone Mountain Property Eureka County, Nevada, USA", and dated February 27, 2017 with an effective date of January 25, 2017 (the "Report"), has been filed and is now available on Nevada Zinc's SEDAR profile at www.sedar.com.
The Report was prepared by P&E Mining Consultants Inc. ("P&E") at the request of Mr. Bruce Durham, President and Chief Executive Officer of the Company. The Qualified persons who prepared the report were David Burga, P.Geo., Fred Brown, P.Geo., and Richard H. Sutcliffe, PhD, P.Geo.
The Lone Mountain Property
The Lone Mountain Property (the "Property") comprises 223 contiguous unpatented lode mining claims and one patented claim covering a total area of approximately 4,400 acres. The Lone Mountain claims are located along the northern edge of Lone Mountain. The Property is approximately 7.5 kilometres north of US Highway 50 and can be accessed by vehicles via an unpaved road extending north from Highway 50. Exploration activities may be conducted year-round. The region supports an active mining workforce with significant resources for mineral exploration, mine development and mine operations.
The historical Mountain View mine, located on the Company's patented claim, is reported to have produced approximately five million pounds of zinc between 1942 and 1964 from oxide-carbonate mineralization. The main structural target on the Property is a soil geochemical anomaly with a minimum 1.4 kilometre strike length and a coincident three kilometre CSAMT geophysical anomaly trending NW from the mine. Nevada Zinc's drilling to-date (12,200 metres in 83 holes) has tested approximately 450 metres of strike length of the target and has intercepted multiple long, shallow, high grade zinc oxide intercepts, such as hole LM15-27 with 9.48% zinc and 0.74% lead over 118.92 metres. Mineralization is located within brecciated Devils Gate Limestone and is thought to be structurally controlled.
All zinc and lead mineralization intersected to-date on the Property is non-sulphide (oxide-carbonate) type mineralization. Dissolution (leach) testing during 2016 demonstrated fast and exceptional recovery of over 99% of the zinc from the mineralized rock. Additionally, dense media separation (DMS) test work indicates that up to 90% of the barren carbonate can be separated from the zinc mineralization, greatly reducing the amount of acid that would be needed to dissolve the zinc. These two processes combined could allow for the production of one or more zinc products on site that could be shipped as market-ready. The Company will continue to evaluate these possibilities.
P&E considers that the Property hosts significant high-grade zinc mineralization and warrants further exploration. P&E recommends that the next exploration phase budgeted at Cdn. $2,996,000 should include additional RC drilling, diamond core drilling, geological mapping, geophysical surveying, geochemical, metallurgical and environmental studies.
Bruce Durham (P.Geo), President and Chief Executive Officer of Nevada Zinc, is a Qualified Person, as the term is defined in Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release.
About Nevada Zinc
Nevada Zinc is a discovery driven mineral exploration company with a proven management team focused 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.
Nevada Zinc cordially invites everyone to meet with its management team in the Investors Exchange during the upcoming Prospectors and Developers annual conference in Toronto. Management looks forward to discussing the progress of the Company at booth #2215 on Tuesday March 7, 2017 and Wednesday March 8, 2017. Registration to attend the Investors Exchange is free.
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 includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe Nevada Zinc's future plans, objectives or goals, including words to the effect that Nevada Zinc or its management expects a stated condition or result to occur, therefore undue reliance should not be placed on such information. Nevada Zinc provides no assurance that actual results will meet management's expectations. Forward looking information in this news release includes, but is not limited to details of the technical report, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes. Nevada Zinc disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law.
