TORONTO, ONTARIO--(Marketwired - April 6, 2016) - Pasinex Resources Limited (CSE:PSE)(FRANKFURT:PNX) (the "Company" or "Pasinex") today announced it has completed two separate lot sales of high grade direct shipping zinc mineral material from its Pinargozu zinc mine in Adana province, Turkey. One lot was an oxide zinc mineral (predominantly the zinc mineral smithsonite), while the second lot sale was a sulphide mineral (sphalerite) which was also high grade direct shipping material.
Steve Williams, President and CEO of Pasinex commented, "These latest lot sales included some sulphide mineralized material. This is significant because sulphide mineralization has greater concentration of zinc due to this being predominantly a massive Zn mineral called sphalerite. Therefore, this has even further improved the overall grade of the product we are selling. This is the first sulphide zone we have mined at Pinargozu. What this means to the Joint Venture is improved cash flow due to a higher overall grade of the DSO (direct shipping ore). It also is important geologically because we are now starting to see sulphides in a system that has, to date, been all oxide mineralization. Naturally, we are very excited to have encountered the sulphide zone."
The Horzum JV has been operating profitably for the first three months of this year and continues to exceed the plan. Ten mining faces have now been opened and the Company will continue ramping up production by mid-year.
Pasinex Resources Limited (CSE:PSE)(FRANKFURT:PNX) is a base-metal and precious-metal focused Company with a goal to build a mid-tier international mining company. The Company's initial priority is to build a prospective 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. The focus of Pasinex is to build a mid-tier zinc company based on their Turkey zinc projects.
The Pinargozu mine is included in the 50-50 company, Horzum Arama Isletme AS (Horzum AS), which is a corporate joint venture between Pasinex and Turkish mining house, Akmetal Madencilik San ve Tic. AS (Akmetal AS). Akmetal A.S is one of Turkey's largest family-owned conglomerates with the past-producing Horzum zinc Mine nearby.
Visit our web site at: www.pasinex.com.
On Behalf of the Board of Directors
PASINEX RESOURCES LTD.
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 develop the Pinargozu Property, all exploration drilling results, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate. Readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.