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Nevada Zinc Continues to Intersect Near Surface Zinc at Lone Mountain

16.02.2017  |  GlobeNewswire

TORONTO, Feb. 15, 2017 (GLOBE NEWSWIRE) -- Nevada Zinc Corp. (“Nevada Zinc” or the “Company”) (TSX-V:NZN) is pleased to report drill hole assay results for additional holes from its Phase 5 drill program at the Company’s Lone Mountain zinc project (the “Project”).

The Company’s recently completed Phase 5 exploration program included 24 reverse circulation drill holes, surface geological mapping and prospecting, limited geophysical test work and specific gravity testing of mineralized material.

Nevada Zinc President and CEO, Bruce Durham commented, “The Phase 5 assay results reported today and on January 11, 2017 expand the limits of both the Discovery zone area mineralization and the mineralization near the historic Mountain View Mine. The drill holes were designed to test the limits of the known areas of mineralization. We are very encouraged by the results from the Phase 5 drill holes and we are currently planning our next phase of exploration work on the Project. As an exhibitor at the upcoming Prospectors and Developers annual conference in Toronto we look forward to discussing the continuing progress of the Company at booth #2215 on Tuesday March 7, 2017 and Wednesday March 8, 2017.”

Highlights

  • Drill hole LM 16-77 intersected significant near surface zinc mineralization over a 36.58 metre interval from 21.34 metres grading 4.39% zinc and 0.04% lead (4.43% zinc+lead) southwest of the historic mine workings on the Mountain View Mine property.
  • Drill hole LM-16-78 intersected a 10.67 metre interval of zinc mineralization grading 6.42% zinc starting at a downhole depth of only 21.34 metres.
  • The Discovery zone zinc mineralization remains untested at depth to the northeast beyond holes LM-16-63, 64 and 65 that were reported January 11, 2017. Drill hole LM-16-64 in that release 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.

All zinc and lead mineralization intersected to-date on the Project is non-sulphide type mineralization (importantly, the mineralization outlined to-date is not a mixture of sulphide and non-sulphide which can complicate the extractive metallurgy process).

No drilling has yet been completed to test for deeper sulfide mineralization beyond the depths of the drilling completed by the Company.

Drill Hole Summary Information

RC Hole ID LM-16-73
Easting 563236
Northing 4384971
Az. 160 degrees
Dip -90 degrees
Depth (m) 54.86


From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
30.48 39.62 9.14 3.04 0.03 3.07
including
35.05 39.62 4.57 4.75 0.01 4.76


RC Hole ID LM-16-77
Easting 563223
Northing 4385016
Az. 160 degrees
Dip -90 degrees
Depth (m) 70.10


From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
21.34 57.91 36.58 4.39 0.04 4.43
including
32.00 48.77 16.76 7.35 0.07 7.42
including
35.05 41.15 6.10 10.55 0.13 10.68


RC Hole ID LM-16-78
Easting 563196
Northing 4384992
Az. 160 degrees
Dip -90 degrees
Depth (m) 76.20


From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
21.34 44.20 22.86 3.46 0.02 3.48
including
21.34 32.00 10.67 6.42 0.03 6.45
including
21.34 25.91 4.57 9.11 0.06 9.17


RC Hole ID LM-16-80
Easting 563168
Northing 4384982
Az. 160 degrees
Dip -90 degrees
Depth (m) 76.20


From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
53.34 57.91 4.57 3.13 0.01 3.14


Note: Hole LM-16-67, 72-76, 79, 81-83 contained no significant results (mostly less than 2% zinc).

True widths are not determinable at this time.

Sample Preparation and Quality Control

Supervision and organization of reverse circulation drilling chip samples was undertaken by Company personnel. Samples were collected at 5 foot 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 lbs. to 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 was completed on all samples. For zinc and lead 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 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.


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