Commodities Buzz: Zinc One Resources Confirms Discovery Of High Grade Zinc Deposit In North Central Peru

Mining company Zinc One Resources has confirmed the discovery of high-grade zinc deposit located in the Mina Chica zone at the Bongara Mine Zinc project located in north-central Peru. The drilling at Mina Chica is part of the ongoing program that is targeting several areas of known high-grade zinc mineralization. This important discovery is based on additional high-grade results with substantial vertical thicknesses at Mina Chica. It is an exciting new area to be potentially included in the upcoming resource estimate and underlines the potential upward scalability of the Bongará Zinc Mine project, noted the company. To date, assays for only 18 of 50 holes totaling 2,070 metres drilled at Mina Chica have been reported. The data for the remaining 32 holes will be announced once assays results have been received, checked, and compiled.

Bill Williams, COO of Zinc One stated that drilling results have clearly demonstrated that the high-grade zinc mineralization forms a contiguous body, whose vertical thickness is beyond the previous expectations. Furthermore, zinc mineralization has been encountered in nearly every hole drilled to date and we look forward to reporting the assays from these holes so that the magnitude of the zinc in this deposit can be properly quantified.

Mina Chica is one of three known zones of high-grade, near-surface zinc-oxide mineralization along a 1.4 kilometre mineralized trend that is being tested by this drill program. At Bongarita, which lies approximately 200 metres west of Mina Chica, all results from the 36 holes drilled have been reported. A second drill rig is currently drilling at Mina Grande Sur, which lies approximately 1.2 kilometres southeast of Mina Chica. Results from 11 of 75 holes, for a total of 1,509 metres, drilled have been reported to date.