VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 25, 2017) - InZinc Mining Ltd. (TSX VENTURE:IZN) ("InZinc" or the "Company") is pleased to announce that the option agreement to acquire a 100% interest in the Indy zinc project ("Indy"), located approximately 100 kilometres south of Prince George, British Columbia, has been accepted by the TSX-V. Indy provides near surface exploration potential at the mineralized Tex Zone, and regional discovery potential through numerous large, untested soil geochemical anomalies. The project area covers 9.8 kilometres of deformed sedimentary rocks spanning the Cambrian to Lower Mississippian; a geological period known to produce most of the major western Canadian zinc deposits. The Company is planning geochemical and geological programs for 2017 with drilling subject to results. Maps and historical drilling results from the Indy zinc project can be found at this link: http://media3.marketwire.com/docs/IZN.pdf
The Indy project complements the Company's flagship 100% owned West Desert advanced stage zinc project in Utah. A Preliminary Economic Assessment (2014) of West Desert estimated 1.6 billion pounds of zinc production over 15 years, with low cost, bulk underground mining and conventional processing to produce high quality concentrates. The carbonate replacement deposits (CRDs) at West Desert are open for expansion in multiple directions and potential for further discoveries exists on a district scale. Multi-disciplinary programs including expansion and exploration drilling are being designed for 2017 in advance of prefeasibility studies. Exploration permits and bonds are in place to initiate drilling.
InZinc is focused on growth in zinc through expansion and exploration of the advanced stage West Desert project in Utah and the Indy exploration project in British Columbia. West Desert comprises a large resource, is open for expansion and has district scale exploration potential. Indy comprises both near surface exploration targets and regional discovery potential. Both zinc projects are well located with easy access and existing infrastructure.
InZinc Mining Ltd.
Kerry Curtis, Chairman and Interim Chief Executive Officer
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 Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the Company's next shareholder meeting. 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 Discussion and Analysis for the year ended December 31, 2015 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 and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
The PEA (2014) was prepared by Mine Development Associates with contributions from International Metallurgical and Environmental Inc. in accordance with the definitions in Canadian National Instrument 43-101. All dollar amounts are US currency. The PEA is considered preliminary in nature. It includes Inferred mineral resources that are considered too speculative to have the economic considerations applied that would enable classification as mineral reserves. There is no certainty that the conclusions within the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Long-term metal prices used in the study included zinc at $1/lb, copper at $3/lb, iron ore at $105/t (62% Fe, CFR-Tianjin), gold at $1,300/oz and silver at $21/oz. The technical report is entitled "Technical Report on the West Desert Zinc-Copper-Indium-Magnetite Project - Preliminary Economic Assessment - Juab County, Utah" and is available both at www.sedar.com and the Company's website at www.inzincmining.com.
Kerry M. Curtis, P.Geo. a Qualified Person as defined in NI43-101, has approved the technical content of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.