Eastern Zinc Commences Drilling Program on Portage Property
VANCOUVER, Aug. 20, 2019 - Eastern Zinc Corp. ("Eastern Zinc" or the “Company”) (CSE:EZNC | OTC:ETZCF) is pleased to report it has mobilized a diamond drilling rig to its Portage Property located in the western part of the Bathurst Mining Camp (“BMC”) in northern New Brunswick. The Company plans to drill a minimum of 500 metres designed to test the depth and strike potential of the Upper Road Zone prospect (Figure 1). This potential volcanogenic massive sulphide (“VMS”) target was first discovered by a previous operator (SLAM Exploration) in 2018.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b42e5e7d-4dc5-4e2c-9ae4-438a0b8d708b
The BMC Properties
The Portage Property is part of a portfolio of mineral properties owned by Eastern Zinc Corp. and located in the Bathurst Mining Camp (BMC) in northern New Brunswick (Figure 1). The BMC is one of the most prolific base metal mining districts in Canada that hosts over thirty volcanogenic massive sulphide (VMS) deposits, as well as dozens of mineral showings (source: NBDNRE Open File 2000-9). Numerous airborne geophysical surveys employing electromagnetic and magnetic methods have played a key role in the discovery of VMS deposits in the BMC, including assisting in the discovery of the Brunswick No. 12 mineral deposit (source: NBDNRE Open File 2000-9). The Brunswick No. 12 mine was one of the world’s largest underground zinc mines and produced 137 million tonnes grading 8.74% zinc, 3.44% Pb, 0.37% Cu, and 102 g/t Ag between 1964 and 2013 (source: New Brunswick Department of Energy and Resource Development, Brunswick No. 12 mine production statistics).
The Eastern Zinc BMC properties include other potential VMS mineral occurrences discovered and drilled by previous operators including the former Wedge mine, West Wedge, Tribag, Essex and A’Hearn targets. The Satellite and Mowatt targets are located adjacent to the former Heath Steele mine. The BMC properties also include the LBM mineral trend where several discoveries were made by previous operators in the region in volcano-sedimentary rocks extending 5 km west and northwest from Trevali Mining Corp.’s Halfmile deposit.
Cautionary Notes and Qualified Person Statement
This news release contains scientific and technical information with respect to adjacent or similar mineral properties in the Bathurst Mining Camp (BMC), which the Company has no interest in or rights to explore. Readers are cautioned that information regarding VMS mineral deposits and mineralization on adjacent or similar properties is not necessarily indicative of the presence of a VMS deposit and mineralization on the Company’s properties in the BMC.
All scientific and technical information contained in this news release was prepared by, and approved by Paul Ténière, P.Geo., President & CEO of Eastern Zinc Corp., who is a Qualified Person as defined in NI 43-101. Mr. Ténière has verified the scientific and technical information disclosed in this news release by reviewing and referencing published scientific papers and government reports related to the Bathurst Mining Camp that outline its geology and structure, mineralization potential, deposit style, and past production history.
On behalf of the Board of Directors
Joel Dumaresq
Chair of the Board and Chief Financial Officer
Suite 810 – 789 West Pender Street, Vancouver, BC V6C 1H2
(604) 336-3195
About Eastern Zinc Corp.
Eastern Zinc is a Canadian junior mining and exploration company operating out of Vancouver, British Columbia. Eastern Zinc is engaged in the business of acquiring, exploring and developing natural resource properties with a focus on zinc properties/projects.
Eastern Zinc is listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol "EZNC." For more information on Eastern Zinc, please visit our website at www.easternzinc.com. Additional information relating to Eastern Zinc is available on SEDAR at www.sedar.com as well as on the CSE at www.theCSE.com.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Information Statement
This press release may include “forward-looking information” (as that term is defined by Canadian securities legislation). Forward-looking information is based on certain expectations and assumptions made by Eastern Zinc, including future plans for the exploration and development of mineral properties. Although Eastern Zinc believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the company cannot give any assurance that they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. Eastern Zinc disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.
