VANCOUVER, British Columbia, May 21, 2014 (GLOBE NEWSWIRE) -- Pasinex Resources Limited (CSE:PSE) (FSE:PNX) is pleased to announce the start of Phase 1 diamond drilling on its 50% owned Pinargozu zinc-lead project in Adana Province, Turkey. Pinargozu is also 50% owned by Pasinex's partner in Adana, Akmetal Madencilik San ve Tic A.Ş.
Drilling started on Borehole PPU14-006 on Saturday, 17 May. The borehole is one of 22 boreholes for which targets have been identified at Pinargozu – some from geological features of already-mined zinc oxide ore, and some from ground penetrating radar (GPR) surveys.
Borehole PPU14-006 is targeted on downward-continuation, in a mineralized structure, of ore mined from the 707 level of the old artisanal mine at Pinargozu, and is shown on Figure 1 below.
Figure 1 also shows all other drill sites identified at Pinargozu and slated for possible drilling to date, subject to ongoing drilling results. It also shows the locations of surface GPR survey profiles recently completed at Pinargozu, and targets identified within them.
Like most other geophysical exploration methods, GPR surveys can identify physical features and changes in rock properties – some of which may be inferred to relate to economic mineralization, and therefore to merit drilling for sample recovery and analysis. The physical rock features at Pinargozu which are believed to be related to mineralization are cavities, faults, fissures and stratigraphy – evidence for all of which are present in the GPR survey results from Pinargozu. As drilling results become available, relationships between actual rock properties, the GPR profiles they have produced at Pinargozu, and economic mineralization, should become clearer, with the result that the interpretations and drilling plans shown on Figure 1 may change.
Pinargozu is a small, historic, marble-hosted zinc oxide mine located in steep topography 7 kilometers along strike from the historic Horzum zinc/lead Mine. The topography over which the Pinargozu GPR surveys were undertaken is steeper than that in any documented GPR surveys known to Pasinex. It has called for specialist data reduction techniques to be implemented by the GPR contractor (GroundRadar) with which Pasinex has been fully satisfied.
Steve Williams, CEO, comments "Pasinex has entered into another important stage of the company's development with the beginning of drilling at Pinargozu. We look forward to the results from this drill campaign."
Clinton Smyth, P.Geo and VP Exploration for Pasinex, is the qualified person as defined by National Instrument 43-101 who has verified the written disclosure of all scientific and technical information in this news release.
Pasinex Resources Limited (CSE:PSE) is a base and precious metal-focused exploration company with a particular initial priority given to building a strong portfolio of base metal opportunities in Turkey. The Company has a strong technical management team with many years of experience in mineral exploration and mining project development.
On Behalf of the Board of Directors
PASINEX RESOURCES LTD.
Phone: 416 861 9659
The CSE does not accept responsibility for the adequacy or accuracy of this news release.
This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.
All statements within, other than statements of historical fact, are to be considered forward looking. Although Pasinex Resources Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: the forgoing ability to finance exploration in order to further the Pinargozu project in 2014, the economic potential of GPR identified drill targets, all exploration drilling results, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
To view an image of the proposed diamond drilling map (Figure 1), please visit: