Pasinex Resources (CSE: PSE) (FSE: PNX) Limited Gives Update on Drilling from Its Pinargozu Zinc-Lead Project in Adana Province, Turkey
Vancouver, British Columbia - (Newsfile Corp. - August 7, 2014) (www.investorideas.com newswire) Pasinex Resources Limited (CSE: PSE) (FSE: PNX) (the 'Company' or 'Pasinex') wishes to provide an update on its drilling program at its 50%-owned Pinargozu Property, in Adana, Turkey.
Until, and including, the drilling of Borehole PPU14-015, drill targets at Pinargozu had been identified by geological interpretation not aided by the results of ground penetrating radar (GPR) surveys.
Around the time of the drilling of Borehole PPU14-015, a number of drill targets were identified based on the results of recently-completed GPR surveys at Pinargozu. These immediately became the focus of the drilling team's attention, as these targets hold the greatest potential for significantly increasing the resources at Pinargozu, located, as they are, some distance from PPU14-015, and its associated mining activities.
Delays in drilling these GPR-defined targets have, however, been experienced - for three reasons: (i) the steep topography at Pinargozu, which, though favourable for mining, makes the preparation of (a) drill-access roads and (b) water-lines, difficult; (ii) the fact that a number of targets were beyond the depth-reach of the drill on site, and on drilling angles at which the drill could not operate.
These problems have now been addressed, both with the arrival of a large new drilling rig at Pinargozu (Figure 1), and with the addition of a second pump station to the drill line.
Drilling of Borehole PPS 14-001 has resumed as of August 4, 2014. The location of PPS 14-001 with respect to various GPR targets, additional planned holes, and existing mine workings at Pinargozu is shown in Figure 2 below. Three videos providing views of various planned boreholes and their GPR targets in multiple orientations are available on the Pasinex website.
Also available on the Pasinex website is a video showing very good correspondence between the mineralisation intersected in Borehole PPU14-015 and a reflection feature in the GPR results.
While Pasinex recognises that not all reflection features in its GPR survey results at Pinargozu will correspond with mineralisation, it expects that a significant number of them will. Consequently, Pasinex is very pleased to be starting this new phase of zinc exploration in Adana, using state-of-the-art technology never, to its knowledge, used in this context before.
Clinton Smyth, P.Geo and VP Exploration for Pasinex, has assembled a number of videos showing existing mine galleries, selected radar curtains, results of borehole PPU14-15, planned borehole PPS 14-001, targets on other radar curtains, drilling permit outlines, and a transparent representation of the ground surface. To view these videos, please visit http://www.pasinex.com
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 (CNSX: 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 CNSX 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 market prices, continued availability of capital and financing, positive drilling results, accuracy of GPR targets, 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.
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