Zinc One Resources discovers new zinc deposit at Bongara project

27 April 2018 (Last Updated April 27th, 2018 12:47)

Zinc One Resources has discovered a new high-grade zinc deposit in the Mina Chica zone of the Bongara zinc mine project, located in north-central Peru.

Zinc One Resources has discovered a new high-grade zinc deposit in the Mina Chica zone of the Bongara zinc mine project, located in north-central Peru.

The discovery underlines the potential upward scalability of the project and was made during drilling works at Mina Chica, which targeted several areas of known high-grade zinc mineralisation.

Zinc One announced the latest discovery on the basis of additional high-grade results with substantial vertical thicknesses at Mina Chica.

"Our drilling results have clearly demonstrated that the high-grade zinc mineralisation forms a contiguous body, whose vertical thickness is beyond our previous expectations."

The discovery is expected to be included in the project’s upcoming resource estimate.

The company has reported assays for only 18 of the 50 holes drilled at the zone to date.

Zinc is expected to release the data for the remaining 32 holes after the assays results have been received, checked and compiled.

Zinc One Resources COO Bill Williams said: “The confirmation of the discovery of a new high-grade zinc deposit at Mina Chica marks an exciting turn of events for the Bongará Zinc Mine project.

“Our drilling results have clearly demonstrated that the high-grade zinc mineralisation forms a contiguous body, whose vertical thickness is beyond our previous expectations.

“Furthermore, zinc mineralisation 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.”

New intercepts include 19.8m of 46.8% zinc and 49.5m of 38.7% zinc.

Mina Chica is primarily known for high-grade, near-surface zinc-oxide mineralisation, which comprises zinc oxides, carbonates and silicates hosted by soils, highly weathered carbonates and fine to coarse grained dolomites.