Vancouver, British Columbia--(Newsfile Corp. - August 27, 2024) - InZinc Mining Ltd. (TSXV: IZN) ("InZinc" or the "Company") announces the initial phase of the 2024 field program, involving mapping, prospecting and geochemical surveys, has advanced two new large-scale drill targets (Keel Barite, Delta Horizon) located 4-5 km along trend of the B-9 Sulphide Zone, where past drilling is highlighted by a shallow intercept of 10.0% (Zn+Pb), 16.2 g/t Ag over 9.9 m.
Follow-up drill programs to test the Keel Barite and Delta Horizon targets, notionally scheduled for this fall, have been deferred to 2025, largely due to time lost and logistical challenges associated with wildfire-related evacuation orders and alerts in the area this summer. A program of additional soil geochemistry and access preparation for drilling in 2025 will commence in the first week of September at the Indy Sedex (zinc-lead-silver) project (100% interest) ("Indy" or the "Project") located 90 km southeast of Prince George in central British Columbia.
Lab results, pending from the early summer sampling program will be combined with results from the fall program and carried over into 2025 for drill target selection. Renewal of a 5-year drill permit was completed in mid-July and the Company is well positioned with working capital.
The geological setting at Indy is highly analogous to that hosting the zinc-lead-silver-barite Sedex deposits of the prolific, metal-rich Selwyn Basin1. The Selwyn Basin, an 1100 km long sedimentary belt, hosts the world's second largest known accumulation of Sedex deposits, including some of the world's largest (see Table 1). Previously, the mineralized sequences of the Selwyn Basin were only known to extend from the Yukon into northeastern BC.
Table 1: Sedex Districts and Deposits of the Selwyn Basin, Canada1
Sedex Deposit/District
Historical and Current Estimates (Mt - million tonnes)
Anvil District, Yukon
120 Mt at 5.6% zinc, 3.7% lead and 45 to 50 g/t silver
Howard's Pass District, Yukon
400 Mt at 5% zinc and 2% lead
Mac Pass District, Yukon
11.2 Mt Indicated at 6.6% zinc, 2.5% lead and 21.3 g/t silver 39.5 Mt Inferred at 5.8% zinc, 3.1% lead and 38.2 g/t silver
Cirque, Northeast BC
40 Mt at 7.8% zinc, 2.2% lead and 48 g/t silver
Akie, Northeast BC
22.7 Mt Indicated at 8.3% zinc, 1.6% lead and 14.1 g/t silver 7.5 Mt Inferred at 7.0% zinc, 1.2% lead and 12.0 g/t silver
Property-Wide Sedex Drill Targets
The widespread distribution of mineralization (sulphide and barite) at Indy includes many features common to prolific Sedex districts. Barite mineralization with zinc and lead enrichment defines high-potential exploration vectors. Preliminary 2025 drill targets include (see Figure 1):
Keel Bariteand Keel West - Extensive barite mineralization (700 m strike) at Keel with local enrichment in zinc-lead sulphides at Keel West.
Delta Horizon - Additional widespread barite mineralization (up to 25% barite in rock samples) with zinc-lead enrichment occurring over a 1.3 km trend at Delta, located 1 km northwest of Keel.
B-9 Sulphide Zone - Sedex-style mineralization (10.0% zinc and lead, 16.2 g/t silver over 9.9 m) at the B-9 sulphide zone (open for expansion), located 4 km south of Keel.
1 See News Release 2024-06, May 16, 2024 for details.
About InZinc
InZinc is an active explorer and, through its Indy project, equity investment and royalty interests, is exposed to a diverse portfolio of active North American base metals and precious metals projects. The Company has discovered and continues to explore for expansion of near surface zinc-lead-silver mineralization at the easily accessible Indy project located in a new and under-explored mineral region of central British Columbia, Canada. A Canadian subsidiary of South32 (ASX, LSE, JSE) became a major tenure holder in the Indy belt by staking approximately 200 km2 of adjacent claims in late 2021. 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. The Company is engaged in a continuing review of other properties and projects for possible acquisition.
For further information contact : Joyce Musial Vice President, Corporate Affairs Phone: 604.317.2728 Email: joyce@inzincmining.com
Qualified Person
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.
This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Forward-looking statements, include but are not limited to, statements that address activities, events of developments that the Company expects or anticipates will or may occur in the future. Forward-looking statements are typically identified by words such as: believe, expect, anticipates, intends, estimates, plans, postulate, indicate and similar expressions, or are those, which, by their nature, refer to future events. Although InZinc believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. The Company cautions investors that any forward-looking statements are not guarantees of future results, performance or actions, and that actual results or 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, 2023 filed with certain securities commissions in Canada and other information released by the Company and filed with the appropriate regulatory agencies. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Inzinc disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. All of the Company's Canadian public disclosure filings may be accessed via www.sedarplus.com.
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