Vancouver, British Columbia – October 12, 2022 (Newsfile Corp.) (Investorideas.com Newswire) InZinc Mining Ltd. (TSXV: IZN) (“InZinc” or the “Company”) is pleased to announce completion of the 2022 drill program and demobilization of equipment and personnel at the Indy zinc and precious metals exploration project (100% option) (“Indy” or the “Project”) located 100 kilometres (km) southeast of Prince George in central British Columbia. The 2616 metre (m) ground-based diamond drill program (17 drill holes) explored three new areas and the extension of mineralization discovered at the B-9 Zone. All drill core samples have been delivered to the laboratory for analysis with final results anticipated before year end, depending on lab turnaround time.
Near surface, high-grade Sedex-type zinc mineralization (15.3% Zn+Pb and 24.5 g/t Ag over 6.3 m) was discovered by soil geochemistry and follow-up diamond drilling (11 drill holes) at the B-9 Zone in 2018. Since discovery, an additional 10 km of unexplored base metal and silver (+/- gold) drill targets have been outlined along the 29 km length of the Project (200 km2 mineral claims).
Drilling was supported by existing forestry roads and new access trails constructed in 2022. The 2021 Delta Horizon drill trail was extended by 3 km in 2022 to access the new Fox, Keel and Echo targets and now provides a platform for secondary, proximal future access to the Echo South, Echo North, Fox West and Hat targets. The primary road access to the B-9 target was completed in 2021.
Airborne Geophysical Survey
An 1100 line km airborne geophysics survey was completed and covered the 29 km length of the Project. Final data has been received and ongoing analysis continues to be supportive of geological and geochemical models.
Of the 11 drill targets outlined on the Project, comprising an aggregate length of 10 km of soil geochemistry anomalies, four areas comprising 1.2 km of aggregate length were drilled in 2022.
Fox East silver-gold target: Five holes were drilled at Fox East, a 500 m long trend centred approximately 500 m north of the Echo South target.
Keel zinc+/-silver target: Four holes were drilled at Keel, a 400 m long trend located 200 m west of the Echo target.
Echo central area: Three holes were drilled at the 250 m central portion of the 1.9 km Echo zinc target.
B-9 Zone: Five holes were drilled in the area where significant mineralization was discovered in 2018 drilling.
Echo South zinc target: Exploration drilling at Echo South, the strongest and most continuous (750 m) portion of the 1.9 km long Echo anomaly, has been deferred due to a combination of diminished drill water (creek) supply and challenging terrain. Extension of the drill trail to access Echo South has been reviewed by local road engineers/builders and is now being reconsidered for 2023 programs.
Numerous zinc and precious metals drill targets occur along the 7 km Main Trend. The Echo North, Delta Horizon and Anomaly C zinc targets will be considered for future drill programs. In addition, the Fox West, Hat and Anomaly G precious metals targets will also be considered for future drill programs.
Indy Project – Main Trend – 2022 Drill Areas
InZinc is an active explorer and through earn-in, equity and royalty interests is exposed to a diverse portfolio of active North American base metals and precious metals projects. Since the 2018 discovery of high grade, near surface mineralization at the Indy project (100% earn-in), InZinc has outlined over 10 km of high quality exploration base and precious metals targets and has expanded its mineral tenure to 200 km2 in a new and unexplored mineral region of central British Columbia, Canada. In late 2021, a Canadian subsidiary of South32 (ASX, LSE, JSE) became a major tenure holder in the belt by staking approximately 200 km2 of adjacent claims. InZinc has a significant equity investment in American West Metals (ASX) which is advancing multiple North American base metals projects. In addition, InZinc has a production royalty and will receive 50% of the revenue (NSR) from the sale of indium mined from American West’s West Desert project.
InZinc Mining Ltd.
Chief Executive Officer
For further information contact :
Vice President, Corporate Affairs
Brian McGrath, B.Sc., P.Geo. a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has approved the technical content of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Forward-looking information includes, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the successful completion of American West’s Initial Public Offering on the Australian Securities Exchange. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “plan”, “design”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results, performance, or actions and that actual results and actions may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, those risks and uncertainties disclosed in the Company’s Management’s Discussion and Analysis for the year ended December 31, 2021 and for the six months ended June 30, 2022 filed with certain securities commissions in Canada and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com.
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