ZincX Resources Corp. to Host Investor Call
Vancouver, British Columbia (FSCwire) - Following the release of ZincX Resources Corp.'s (“ZincX Resources” or “the Company”, TSX Venture Exchange: ZNX) positive preliminary economic assessment (PEA) of the Cardiac Creek (Akie Property) Zinc-Lead-Silver deposit, interest in the Company and its projects has increased significantly.
Peeyush Varshney, Chief Executive Officer of ZincX Resources, commented: "The positive results outlined in the PEA demonstrate a robust, stand-alone base metal project with a large and potentially growing resource base, all-season access, good rail and road infrastructure, and amenable to conventional mining and milling practices common to similar projects. We are delighted with the strong results of the PEA and intend to now move to advance the project through feasibility, permitting and towards production.”
In response to recent increased investor interest, the company will host an investor call with Mr. Varshney on Friday, October 12, 2018, at 1:15 pm PST. There will be a question-and-answer session following the call for participants.
Topics to be discussed will include:
- The progress and milestones achieved over the past year;
- The PEA and what the numbers mean; and
- Objectives of the current exploration program on the Akie Property.
The call will be open to a maximum number of participants. Once at capacity, callers will be placed in a queue. The company cannot guarantee any spaces on the call as it is hosted by a third party and operates on a first-come basis.
Dial-in numbers:
Toll-free dial-in number from Canada and the United States: 1-877-216-4736
Toll-free dial-in number from Germany: +49 0-800-180-2557
+49 0-800-183-8208 (mobile)
Toll-free dial-in number from Switzerland:+41 080-083-4650
Participant passcode: 2448400383
Should you need a dial-in number for a country that is not listed above please email kylie@varshneycapital.com with the country you will be calling from and we would be happy to provide the corresponding number.
The Akie Zn-Pb-Ag Project
The 100% owned Akie property is situated within the Kechika Trough, the southernmost area of the regionally extensive Paleozoic Selwyn Basin and one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by ZincX Resources (formerly Canada Zinc Metals Corp) since 2005 has identified a significant body of baritic-zinc-lead SEDEX mineralization known as the Cardiac Creek deposit. The deposit is hosted by siliceous, carbonaceous, fine grained clastic rocks of the Middle to Late Devonian Gunsteel Formation.
With additional drilling completed in 2017, the Company has updated the estimate of mineral resources at Cardiac Creek, as follows:
| 5% Zinc Cut-Off Grade | Contained Metal: | ||||||
| Category | Tonnes (million) | Zn (%) | Pb (%) | Ag (g/t) | Zn (B lbs) | Pb (B lbs) | Ag (M oz) |
| Indicated | 22.7 | 8.32 | 1.61 | 14.1 | 4.162 | 0.804 | 10.3 |
| Inferred | 7.5 | 7.04 | 1.24 | 12.0 | 1.169 | 0.205 | 2.9 |
The Company announced robust positive results from the 2018 Preliminary Economic Assessment (PEA). The PEA envisages a conventional underground mine and concentrator operation with an average production rate of 4,000 tonnes per day. The mine will have an 18-year life with potential to extend the life-of-mine (LOM) through resource expansion at depth.
| Pre-Tax | After-Tax | ||
| NPV7% | IRR | NPV7% | IRR |
| $649M | 35% | $401M | 27% |
The base case parameters for the PEA used US$1.21/lb Zinc, US$1.00/lb Lead, and US$16.50/oz Silver
See ZNX news releases from June 20th, 2018 for important disclosures with respect to the Cardiac Creek PEA.
The PEA is considered preliminary in nature and includes mineral resources, including inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves have not yet demonstrated economic viability. Due to the uncertainty that may be attached to mineral resources, it cannot be assumed that all or any part of a mineral resource will be upgraded to mineral reserves. Therefore, there is no certainty that the results concluded in the PEA will be realized.
Kechika Regional Project
In addition to the Akie Project, the Company owns 100% of eight of eleven large, contiguous property blocks that comprise the Kechika Regional Project including the advanced Mt. Alcock prospect. The Kechika Regional Project also includes the Pie, Yuen and Cirque East properties within which the Company maintains a significant 49% interest with partners Teck Resources Ltd. (TSX: TECK.B) and Korea Zinc Co. Ltd. These properties collectively extend northwest from the Akie property for approximately 140 kilometres covering the highly prospective Gunsteel Formation shale; the main host rock for known SEDEX zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. These projects are located approximately 260 kilometres north northwest of the town of Mackenzie, British Columbia, Canada.
Ken MacDonald P.Geo., Vice President of Exploration for the Company, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release. Mike Makarenko P.Eng, JDS Energy and Mining, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the PEA technical information contained in this release.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
ZINCX RESOURCES CORP.
“PEEYUSH VARSHNEY”
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN
To view the original release, please click here
Source: ZincX Resources Corp. (TSX Venture:ZNX)
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