Vancouver, British Columbia--(Newsfile Corp. - July 26, 2024) - InZinc Mining Ltd. (TSXV: IZN) ("InZinc" or the "Company") announces the renewal of a 5-year drill permit, with provisions for up to 60 drill holes, access trails and related work, was received July 18 for the Indy Sedex (zinc-lead-silver) project (100% interest) ("Indy" or the "Project") located 90 km southeast of Prince George, in central British Columbia.
On July 21 wildfire-related evacuation orders were issued and are in place for communities (Wells-Barkerville) and surrounding areas located to the south of the Project. The Company continues to monitor notices and developments. All InZinc crews are currently on a planned break and are absent from the project site.
Considering these developments, InZinc is re-evaluating the timing of the next phase of drill testing, notionally scheduled for this fall, at Indy. The Company is currently well positioned with working capital.
2024 Ground Exploration
Based on recent stratigraphic correlations1, the geological setting at Indy is highly analogous to that hosting mineral deposits in the prolific, metal-rich Selwyn Basin. To help guide the next drill campaign, InZinc completed additional geological mapping, soil geochemistry and rock sampling across the Main Trend area in June and early July. Soil and rock samples have been submitted for analysis with results anticipated in late August.
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. The Indy project, located approximately 500 km south of the nearest known Selwyn Basin deposit, is particularly well located with respect to road, rail and power infrastructure (see Figure 1).
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
1 See News Release 2024-06, May 16, 2024 for details.
Property-Wide Sedex Exploration Targets
The widespread distribution of mineralization at Indy includes many features common to prolific Sedex districts. The recent discovery of abundant barite, with zinc-lead enrichment, also provides an important exploration vector and will enhance exploration targeting for these deposits. Priority 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.
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 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 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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