Eastern Zinc Corp. ("
Eastern Zinc" or the
“
Company”) (
CSE:EZNC | OTC:ETZCF)
is pleased to report the assay results from two diamond drill holes
completed in early September on its Portage Property located in the
western part of the Bathurst Mining Camp (“BMC”) in New Brunswick
(Figure 1). Holes PZ19-03 and PZ19-04 were designed to test the
depth and strike potential 40 metres below and 400 metres to the
north, respectively, of the Upper Road Zone volcanogenic massive
sulphide (“VMS”) occurrence discovered by a previous operator in
2018.
Highlights include:
PZ19-03
- 1.3% Zn+Pb over 2.2 m including 5.6% Zn+Pb over 0.3 m
- 1.1% Zn+Pb over 5.7 m
PZ19-04
- 1.5% Zn+Pb over 5.5 m including 2.6% Zn+Pb over 1.2 m
- 1.9% Zn+Pb over 0.5 m
A summary of significant assay results from the
Portage drilling program are shown in Table 1:
Table 1: Significant Assay Results from 2019 Portage
Drilling Program
Hole ID |
From (m) |
To (m) |
Interval Width (m) |
Zinc (%) |
Lead (%) |
Zn + Pb (%) |
Copper (%) |
PZ19-03 |
91.00 |
93.23 |
2.23 |
0.55 |
0.72 |
1.27 |
0.013 |
Incl. |
92.00 |
92.30 |
0.30 |
3.52 |
2.05 |
5.57 |
0.043 |
PZ19-03 |
156.50 |
162.20 |
5.70 |
0.75 |
0.32 |
1.07 |
0.074 |
PZ19-04 |
167.53 |
173.00 |
5.47 |
1.17 |
0.30 |
1.47 |
0.038 |
Incl. |
169.80 |
171.00 |
1.20 |
2.12 |
0.46 |
2.58 |
0.101 |
PZ19-04 |
183.50 |
183.95 |
0.45 |
1.52 |
0.34 |
1.86 |
0.013 |
|
|
|
|
|
|
|
|
Note: Intervals shown are measured core lengths
and true widths are estimated to be 75% of the reported intervals.
The Company and its geological consultants are not aware of any
drilling, sampling, recovery or other factors that could materially
affect the accuracy or reliability of the assay data disclosed
herein. Core recoveries were approximately 100% and no sampling
issues were reported by the core logging geologist.
The location and total depth of each drill hole
is shown in Table 2 and Figure 2:
Figure 1: Map of
Eastern Zinc’s Portage mineral claims in the Bathurst Mining
Camp is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/03a93384-9e4b-4e0a-9f69-7fedc4a9e3ee
Table 2: Location of the 2019 Portage drill holes in the
Upper Road Zone prospect
Hole ID |
UTM NAD83 Easting (m) |
UTM NAD83 Northing (m) |
Elevation (m) |
Azimuth (º) |
Dip (º) |
Hole depth (m) |
PZ19-03 |
681836 |
5260232 |
330 |
66 |
-60 |
191 |
PZ19-04 |
681656 |
5260599 |
334 |
85 |
-50 |
344 |
Figure 2: Map of the 2019 Portage drill
holes targeting the Upper Road Zone is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7089111e-773e-4c91-9d6a-d30d1867a402
The drill holes were surveyed using a Reflex
downhole survey tool to measure dip and magnetic bearing at 30m
intervals. Magnetic bearing was corrected to azimuth readings. The
Portage drilling results indicate the presence of variable
zinc-lead mineralization in volcano-sedimentary rocks over a strike
length of 370m. Mineralization is spatially associated with a
conductive graphitic horizon. Future drilling at Portage will
continue to focus on areas where soil geochemical anomalies are
associated with conductive horizons identified from existing
airborne surveys.
Paul Ténière, President and CEO of Eastern Zinc
Corp commented, “These positive drilling results from our initial
Portage drilling program have confirmed the presence of zinc and
lead mineralization at relatively shallow depths and continue to be
an indication of VMS-style sulphide mineralization in the Upper
Road Zone. These results will help determine future sites for
drilling on the Portage claims and expand our understanding of
potential VMS mineralization across our other mineral claims in the
Bathurst Mining Camp.”
The Company plans to complete trenching and
prospecting on several of its other BMC mineral claims this fall to
help determine future sites for ground geophysics and diamond
drilling.
Background on the BMC
Properties:
The Portage Property is part of a portfolio of
mineral properties owned by Eastern Zinc Corp. and located in the
Bathurst Mining Camp (BMC) of New Brunswick (see August 20, 2019
EZNC news release). The BMC is one of the most prolific base metal
mining districts in Canada that hosts over thirty volcanogenic
massive sulphide (VMS) deposits, as well as dozens of lesser
showings (source: NBDNRE Open File 2000-9).
The Portage Property is underlain by
north-easterly trending Ordovician volcano-sedimentary rocks of the
California Lake Group and overlain unconformably to the west and
north by Siluro-Devonian volcanic and sedimentary rocks. The
“Portage Zone” comprises a tabular, stratabound zone ranging from
15 to 60 m thick in the upper part of felsic lapilli tuffs of the
Mount Brittain Formation. Disseminated and stringer pyrite with
variable lead-zinc and copper mineralization can occur within these
chloritized felsic lapilli and ash tuffs. Sulphide stringers are
generally less than 10 cm, but can occur as massive seams up to 3
metres thick. The “Upper Road Zone” occurs just beneath the
unconformity at a depth of approximately 150 m based on historical
drilling. The Upper Road Zone is comprised of VMS lead-zinc
mineralization hosted by a chloritized mafic fragmental unit at the
structural top of a 50 m thick sequence of Boucher Brook sediments.
At deeper depths mafic tuffs and fragmentals are typically found
followed by felsic lapilli tuffs that host the Portage Zone. This
stratigraphic sequence suggests the Tetagouche units may be
overturned and structurally deformed. This is supported by graded
beds and by the distribution of copper mineralization in most of
the Portage Zone intercepts drilled by previous workers.
Numerous airborne geophysical surveys employing
electromagnetic and magnetic methods have played a key role in the
discovery of volcanogenic massive sulphide (VMS) deposits in the
Bathurst Mining Camp, including assisting in the discovery of the
Brunswick No. 12 deposit (source: NBDNRE Open File 2000-9). The
Brunswick No. 12 mine was one of the world’s largest underground
zinc mines and produced 137 million tonnes grading 8.74% zinc,
3.44% Pb, 0.37% Cu, and 102 g/t Ag between 1964 and 2013 (source:
New Brunswick Department of Energy and Resource Development,
Brunswick No. 12 mine production statistics).
The Eastern Zinc BMC properties include other
potential VMS mineral occurrences discovered and drilled by
previous operators including the former Wedge mine, West Wedge,
Tribag, Essex and A’Hearn targets. The Satellite and Mowatt targets
are located adjacent to the former Heath Steele mine. The BMC
properties also include the LBM mineral trend where several
discoveries were made by previous operators in the region in
volcano-sedimentary rocks extending 5 km west and northwest from
Trevali Mining Corp’s Halfmile deposit.
$40,000 NBJMAP Grant:
The Portage drilling program was supported in
part by a grant of $40,000 under the New Brunswick Junior Mining
Assistance Program (“NBJMAP”). The Company wishes to thank the
Government of New Brunswick and the Ministry of Natural Resources
and Energy Development (Energy and Mines Division) for this
recognition of the Portage project and its importance to the mining
industry in New Brunswick.
Technical Information and QA/QC
Notes:
Geological consultants from SLAM Exploration
Ltd. were responsible for the design and implementation of the
drilling program including following a strict QA/QC program
consistent with mining industry best practices. Core was delivered
to a secure location for logging and sampling. All drill core was
logged and selected core was marked for sampling and sawing. The
Company also inserted a blank and a certified standard into the
sample series. A total of 24 core samples were shipped to AGAT
Laboratories (“AGAT”) of Mississauga, Ontario for analysis. AGAT
analyzed all 24 samples using (201-378) Sodium Peroxide Fusion -
ICP-OES/ICP-MS Finish. AGAT is independent of Eastern Zinc Corp.
and is accredited to ISO/IEC 17025:2005 and ISO 9001:2015
standards.
All samples received by AGAT were dried to 60°C
then crushed to 75% passing 10 mesh (2mm) and split to 250 g using
a Jones riffler splitter or rotary split. Samples were pulverized
to 85% passing 200 mesh (75μm). All equipment was cleaned using
quartz and air from a compressed air source. Blanks, sample
replicates, duplicates, and internal reference materials (both
aqueous and geochemical standards) were routinely used as part of
AGAT Laboratories’ quality assurance program. Samples (0.2g) were
fused with sodium peroxide and sodium hydroxide in a muffle furnace
for 30 minutes. The resultant cake was dissolved in dilute nitric
acid and completed to 100ml with de-ionized water. Perkin Elmer
7300DV/8300DV ICP-OES and Perkin Elmer ELAN 9000/NexION ICP-MS
instruments were used in the analysis. Inter-Element Correction
(IEC) techniques were used to correct for any spectral
interferences.
Cautionary Notes and Qualified Person
Statements:
The drilling results contained in this news
release have been prepared in accordance with National Instrument
43-101 (“NI 43-101”) Standards of Disclosure for Mineral Projects.
The Qualified Person responsible for the planning and supervision
of the diamond drilling program, and the preparation, verification
and review of the technical information disclosed in this news
release is Mike Taylor, P.Geo. of SLAM Exploration Ltd. He is
considered a Qualified Person for the purposes of NI 43-101 with
respect to the technical information being reported on. The
technical information has been included herein with the consent and
prior review of the above-noted Qualified Person.
This news release contains scientific and
technical information with respect to adjacent or similar mineral
properties in the Bathurst Mining Camp (BMC), which the Company has
no interest in or rights to explore. Readers are cautioned that
information regarding VMS mineral deposits and mineralization on
adjacent or similar properties is not necessarily indicative of the
presence of a VMS deposit and mineralization on the Company’s
properties in the BMC.
The scientific and technical information in this
news release was reviewed and approved by Paul Ténière, P.Geo.,
President & CEO of Eastern Zinc Corp. Mr. Ténière is a
Qualified Person as defined by NI 43-101.
On behalf of the Board of Directors
EASTERN ZINC CORP.
Joel DumaresqChair of the Board and Chief
Financial Officer Suite 810 – 789 West Pender Street, Vancouver, BC
V6C 1H2(604) 336-3195
About Eastern Zinc Corp.
Eastern Zinc is a Canadian junior mining and
exploration company operating out of Vancouver, British Columbia.
Eastern Zinc is engaged in the business of acquiring, exploring and
developing natural resource properties with a focus on zinc
properties/projects.
Eastern Zinc is listed on the Canadian
Securities Exchange (“CSE”) and its common shares trade under the
ticker symbol "EZNC." For more information on Eastern Zinc, please
visit our website at www.easternzinc.com. Additional information
relating to Eastern Zinc is available on SEDAR at www.sedar.com as
well as on the CSE at www.theCSE.com.
Neither the Canadian Securities Exchange nor its
Market Regulator (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Information
This press release may include “forward-looking
information” (as that term is defined by Canadian securities
legislation). Forward-looking information is based on certain
expectations and assumptions made by Eastern Zinc, including future
plans for the exploration and development of mineral properties.
Although Eastern Zinc believes that such expectations and
assumptions are reasonable, investors should not rely unduly on
such forward-looking information as the company cannot give any
assurance that they will prove to be correct. Forward-looking
statements in this press release are made as of the date of this
press release. Eastern Zinc disclaims any intent or obligation to
publicly update any forward-looking information (whether as a
result of new information, future events or results, or otherwise)
other than as required by applicable securities laws.
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