Nevada Zinc Announces Positive Preliminary Economic Assessment Results for the Lone Mountain Zinc Project Including 40% Pre-Tax IRR – 35% After Tax IRR

Toronto, Ontario June 27, 2019 – Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) is pleased to announce the favourable results of an independent Preliminary Economic Assessment (“PEA”) of the viability of potentially mining the zinc mineralization at the Company’s 100% owned Lone Mountain Project (“Project”) in central Nevada. The PEA highlights strong potential economics for a low cost, relatively simple, open pit zinc mine and floatation plant operating, producing, and selling zinc concentrate for 12 years based on the current Mineral Resources. The operating rate of the mine is planned to be a nominal 800 tonnes per day (“tpd”). Using a long term average zinc price of US $1.13 per pound and an 8% discount rate the Project generates a pre-tax Net Present Value (“NPV”) of US $56.4 M ($75.2 M CDN) and a pre-tax 40% Internal Rate of Return (“IRR”). The after tax NPV (8%) is $43.2 M ($57.6 M CDN) and the after tax IRR is 35%. All currency is stated in USD unless indicated otherwise.

Table 1 - PEA Summary

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PEA Cautionary Note

Readers are cautioned that the PEA is preliminary in nature and there is no certainty the results of the PEA as presented will ever be realized. Mineral Resources are not mineral reserves and do not have demonstrated economic viability. Additional work is required to upgrade the inferred mineral resources to mineral reserves.


Bruce Durham, President and CEO of Nevada Zinc commented on the announcement today: “The results in today’s PEA confirm the Company is making good progress toward eventually turning this “grass roots discovery prospect”, into a viable zinc producer. The PEA was envisioned as a low CAPEX project that could withstand cyclical commodity prices and that could be completed in the context of the current capital markets where access to large amounts of capital is simply not available to small companies. The scope of the PEA included new equipment and contract mining. While we know there is potential for the Lone Mountain zinc mineralization to be a quality feedstock for making value added zinc sulphate for the US fertilizer industry and we know our mineralization could potentially be leached using the Metsol non-acid leach technique to produce a value added zinc oxide product, we stopped short of inputting either of these value added scenarios into the PEA. We kept it simple. The assumptions in the PEA are that the mineralization would be mined in a single pit using a contract miner and that the mineralization would be concentrated using standard floatation techniques to make zinc concentrate that would be transported to a smelter for payment. As we progress beyond today’s PEA we will be looking to better quantify the potential to garner more value from the rather unique zinc mineralization at Lone Mountain. The Project is located in a great jurisdiction close to a very supportive mining based community and based on the results to-date, Lone Mountain has the potential to create significant value for our shareholders.” Mr. Durham further added: “There is also a lot of prospectivity at the Project. We have only drill tested a short portion of the 4 kilometre long structure and we have still not drilled deep enough to evaluate the potential for the Project to host significant zinc sulphide mineralization at depth.”

Table 2 – Overview of the PEA Results

Capital and Operating Cost Estimates

Capital and Operating Cost Estimates

Table 3 – Initial and Sustaining Capital Costs (CAPEX) 

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Table 4 - Operating Costs (OPEX) 

Note: PEA assumed that start-up working capital would be provided by concentrate purchaser on credit revolver basis.

Note: PEA assumed that start-up working capital would be provided by concentrate purchaser on credit revolver basis.

The PEA was undertaken at the request of Bruce Durham, P.Geo., President and CEO of the Company and was prepared by Peimeng Ling and Associates Limited (“PL&A”) in accordance with the requirements of NI-43-101 Standards of Disclosure for Mineral Projects (“NI-43-101”). Peimeng Ling, P.Eng. (MSc. Chemical Engineering), the principal author of the Technical Report, is an independent Qualified Person (as that term is defined by Canadian regulatory guidelines) in respect of the preparation of the PEA Technical Report discussed in this press release. Her experience includes over 35 years experience in the chemical and metallurgical processing field including project evaluation and project management.

Table 5 -  Mineral Resource Estimate

Notes: Numbers in Table 5 are from P&E Mining Consultants Inc. report dated July 22, 2018 “Initial Mineral Resource Estimate and Technical Report on the Lone Mountain Property Eureka Nevada USA”. A 2% NSR royalty is payable to the original property vendor on the majority of the Property. All material tonnes and metal values are undiluted. Mineral Resources are calculated assuming a 2% zinc cut-off. Mineral Resources which are not mineral reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing or other relevant issues. Details of the Mineral Resource Estimate can be found in the technical report filed on SEDAR under the Company’s profile and dated September 7, 2018.

Notes: Numbers in Table 5 are from P&E Mining Consultants Inc. report dated July 22, 2018 “Initial Mineral Resource Estimate and Technical Report on the Lone Mountain Property Eureka Nevada USA”. A 2% NSR royalty is payable to the original property vendor on the majority of the Property. All material tonnes and metal values are undiluted. Mineral Resources are calculated assuming a 2% zinc cut-off. Mineral Resources which are not mineral reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing or other relevant issues. Details of the Mineral Resource Estimate can be found in the technical report filed on SEDAR under the Company’s profile and dated September 7, 2018.

Mining

The mineralization on the Project extends to surface and is amenable to conventional open pit mining methods utilizing front end loaders and trucks. An optimized pit shell was constructed using indicative costs for the area, including $2.50/t mining costs for waste, $3.50/t mining costs for mineralized material, a zinc price of $1.25 per pound, process recovery of 85%, smelter payout of 85%, and smelter charges and freight of $200/t, in addition to processing costs of $20/t and G&A of $3.00/t. (P&E Mining Consultants Inc. 2018 see note above). Slight modifications were made to some of the parameters in light of additional investigations and results from additional metallurgical test work. The PEA established mining costs to be $2.00/t for waste and $3.50/t for mineralization. Process recovery was set at 80%, smelter payout was set as 85% and the achievable concentrate grade was determined to be 45% for the study while G&A was set at $2.00/t. No optimization of the planned mining of the deposit was carried out in the preparation of the PEA. 

Table 6 Processing Plant Feed Schedule

Note: Total material mined values include all production from open pit mining (mineralization plus waste).

Note: Total material mined values include all production from open pit mining (mineralization plus waste).

Processing

The Company and its consultants have been carrying out mineralogical and metallurgical investigations on the Project’s non-sulphide mineralization since October 2015. Since that time the Company has completed thin section investigations, polished thin section work, Heavy Liquid Separation studies, whole rock dissolution using sulphuric acid, Tescan Integrated Mineral analyser tests, concentrate production tests using floatation techniques to concentrate the mineralization, as well as acid dissolution testwork on floatation concentrate and have also completed initial dissolution test work using the METSOL proprietary process on mineralized rock samples. The dissolution testwork on floatation concentrate material using sulphuric acid was designed to target the dissolution of the zinc minerals to produce a liquid comprised primarily of zinc sulphate. Zinc sulphate product was targeted as an end product that would ideally be an end product for use in the fertilizer or animal food businesses. The dissolution test work completed using the METSOL process was aimed at determining the viability of leaching zinc bearing rock without dissolving the associated calcite and dolomite to produce chemical grade zinc oxide.

The recoverable, and potentially payable mineralization on the Project is comprised of zinc oxide and carbonate and minerals, specifically smithsonite, hemimorphite and willemite with some overlap in the identification of the willemite and hemimorphite minerals. The main gangue minerals associated with the zinc mineralization have been identified as calcite, dolomite and minor quartz. Through the various investigations the smithsonite and hemimorphite/willemite were found to be moderately liberated at a grind size P80 of 600 microns, 57% and 72% respectively. Additional grinding was found to liberate more of the zinc mineralization. 

Heavy Liquid Separation tests were completed by Met-Solve Laboratories of Vancouver and also more recently by SGS, Lakefield Ontario. Testing was completed on a variety of fraction sizes and at variable specific gravities (SG).  The tests generated grade recovery curves showing good separation of the heavier zinc bearing mineralization.

Floatation test work was carried out at SGS, Lakefield Ontario. Initial test work showed 96% recoveries and produced concentrate with approximately 30% zinc content. Other tests that were completed as follow-up which produced zinc recoveries over 80% recovery and grading more than 40% zinc. Because the tests were preliminary and single batch tests only, it is reasonable to assume that a higher grade of concentrate, up to 45% could be produced with recovery of approximately 80% in more advanced testwork. Another bulk floatation test produced a 46% zinc concentrate with a 67.4% recovery. Again, the sample was a batch test only, so in a locked cycle environment it is considered reasonable that a 45% zinc concentrate could be produced at an 80% recovery rate. 

As part of the plan by the Company to determine the best approach to maximize the value of the mineralization, the Company had SGS undertake leach test work using sulphuric acid to attempt leaching of the floatation concentrate. Test work by Outotec in 2016 showed the unconcentrated mineralization was readily leached however the high acid consumption rates would not allow the dissolution of raw mineralization to be a viable processing route. SGS completed 9 leach tests on various floatation concentrates. On the basis of the 9 tests, the conclusions were that in most of the tests, high zinc extraction was achieved. The method of acid addition seemed to have an effect on extraction of silicon. When acid was added slowly only limited silicon was dissolved (~5%).

A report by Metsol in March 2017 describing work completed by them reported the results of leaching of mineralized samples from the Project using the Metsol process, a non-acid leach technique. That work showed the mineralization had characteristics well suited for the leaching of mineralization to produce a zinc oxide product. Leach extraction was shown to be in the range of 80% to over 90% in the 6 samples processed. Post leaching roasting of the material produced a purity of 99.3%.

Table 7 – Sensitivity analysis NPV 8% Pre-Tax Base Case

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Infrastructure

The Project is ideally located in east central Nevada, approximately 28 kilometres to the northwest of Eureka Nevada, a mining focused area that continues to be supportive of mining development. Highway 50 which provides the main access between Reno Nevada and Eureka passes along the southern boundary of the Project and a year round county maintained road provides access to the eastern part of the Project. Existing  unmaintained roads provide access to the planned area of operations. 

Two mining operations have recently been permitted in the area. Since being permitted in 2018, McEwen Mining Inc. has constructed and recently declared commercial production at its’ Gold Bar Project approximately 25 km to the northwest of the Project and General Moly, Inc. has completed permitting of its Mount Hope Molybdenum Project located 25 kilometre to the north of the Project.

High voltage power transmission lines are located just to the south of the Project near Highway 50. The PEA contemplates generating power using diesel power. The determination was made that a single 1.5 MW diesel generator is sufficient to provide the power needed for the operation as planned in the PEA. A back-up generator is also included in the plan. Further planned power supply studies include the possibility of using LNG as a fuel for generated power.  Primary power generation will be located in proximity to the grinding facility in order to minimize power line requirements.

Water required for operations and general site purposes would be be supplied by local well sites located as close as possible to the plant location. No plan has been developed on the location of available wells or water rights. The Company has engaged in initial reviews of the possibilities for water rights and will continue the investigation of available water near the project site.

Permits

The Project is located on public BLM lands and patent land. To-date the Company has disturbed less than 5 acres and in order to increase the footprint of disturbance the Company will require a Exploration Plan of Operations (PoO). Mining and exploration activities included in the PoO will require items such as a description of surface disturbance activities, preliminary design reports and a description of waste rock, ore, spent heap and ground water characterization. A Reclamation Plan describing the construction and closure of each facility with the associated bond cost estimate as applicable is also required. Future activities creating more than five acres of disturbance will also require that the BLM perform an appropriate National Environmental Policy Act analysis (NEPA), likely an Environmental Assessment. The NEPA analysis assesses the potential for impacts to all resources from the proposed project. No survey work has been initiated at this time although plans are being made to undertake the work.

Additional information about the Company is available on the Company’s website: www.nevadazinc.com

Bruce Durham P.Geo, President and CEO of Nevada Zinc, is a Qualified Person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release.

The PEA Technical Report on which this press release is based will be posted on  the Company’s website and on SEDAR within 45 days of this release. Some numbers in this release are rounded and therefore some discrepancies may be present in the totals shown.

The Company announces that Allen Ezer has resigned as a director of the Company to pursue other opportunities. The Company thanks Allen for his years of service and wishes him the best in his new ventures.

For further information contact:

Nevada Zinc Corporation 
Suite 1660 141 Adelaide St. West
Toronto, Ontario M5H 3L5
Tel: 416-504-8821

Bruce Durham, President and CEO
bdurham@nevadazinc.com 

www.nevadazinc.com

Caution Regarding Forward-Looking Statements

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

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.


Nevada Zinc Corporation Announces Sale of Generic Gold Corp. Shares

TORONTO, March 21, 2019 (GLOBE NEWSWIRE) -- Nevada Zinc Corporation (the "Company" or "Nevada Zinc") (TSX Venture: “NZN”) announces that on March 8, 2019, the Company sold its 25,000,000 common shares of Generic Gold Corp. (“Generic Gold”) for cash consideration of $300,000 (the “Distribution”), pursuant to a private agreement.

Prior to the Distribution, the Company owned 25,000,000 Common Shares, representing approximately 66.34% of the issued and outstanding Common Shares on a non-diluted and partially diluted basis. Following the Distribution, the Company owns no Common Shares, representing 0% of the issued and outstanding Common Shares on a non-diluted and partially diluted basis.

The Company reviews its holdings from time to time and may increase or decrease its position as future circumstances may dictate. The Company, after reviewing market and other conditions, decreased its holdings in Generic Gold pursuant to the Distribution.

Concurrently with the Distribution, Don Christie and Bruce Durham also resigned as directors of Generic Gold.

Subsequent to the Distribution, the Company has entered into an Option and Right of First Refusal Agreement with Generic Gold, dated March 14, 2019, whereby the Company may purchase the shares of the company affiliated to Generic Gold that holds Generic Gold’s Yukon properties (see the Company’s press release dated June 29, 2017) during the period ending March 14, 2020 at a cost of $200,000.  The purchase price may be paid in either cash or shares of Nevada Zinc at the discretion of the Company.  In addition, the Company has a right of first refusal expiring March 14, 2021 with regard to the sale of the Yukon properties owned by Generic Gold or its affiliates.

This press release is being disseminated pursuant to National Instrument 62-103 – The Early Warning System and Related Take Over Bids and Insider Reporting Issues with respect to the filing of an early warning report by Nevada Zinc.

About Nevada Zinc

Nevada Zinc is a discovery driven mineral exploration company with a proven management team focused on identifying unique mineral exploration opportunities that have the potential to provide significant economic value to its shareholders.

The current focus of the Company is the development of the Lone Mountain Zinc Project comprised of 231 claims covering over 1,619 hectares (4,000 acres) near Eureka, Nevada.

The Lone Mountain Project is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are available. The Project includes options, leases or purchase agreements to acquire 100% interests in all properties along the entire key structural trend which extends for more than four kilometres.  The Company is currently preparing a preliminary economic assessment for the Lone Mountain Project with completion scheduled for Q2 of this year.

The Company has completed 85 reverse circulation drill holes and 13 core drill holes. Results from the drill programs have shown numerous broad intersections of medium to high grade, non-sulphide, zinc mineralization in two locations both of which are located between surface and a depth of approximately 250 metres, most of which may potentially be mined using open pit methods.

Bruce Durham P.Geo, President and CEO of Nevada Zinc is a Qualified Person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release.

Additional information about the Company is available on the Company’s website: www.nevadazinc.com.

For further information contact:
Nevada Zinc Corporation
Suite 1660, 141 Adelaide St. West
Toronto, Ontario M5H 3L5
Tel: 416-504-8821
Bruce Durham, President and CEO
bdurham@nevadazinc.com

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Nevada Zinc Corporation Announces Commencement of Preliminary Economic Assessment on Lone Mountain Zinc Project in Nevada, USA

Toronto, Ontario--(Newsfile Corp. - November 26, 2018) -  Nevada Zinc Corporation  (TSXV: NZN) ("Nevada Zinc" or the "Company") is very pleased to announce the commencement of a Preliminary Economic Assessment ("PEA") on the Company's flagship, 100%-owned, Lone Mountain Zinc Project, located in Eureka County, Nevada, USA.

The objectives of the PEA include:

  • Completion of an independent preliminary scoping-level engineering analysis of the project with the aim of producing zinc compound chemicals and zinc oxide concentrate;

  • Providing an estimate of the potential economic value of the project;

  • Providing an estimate of the project's capital costs, operating costs, as well as sustaining capital costs;

  • Providing a conceptual economic model of the project over the life-of-mine;

  • The PEA will be completed and published in the first quarter of 2019.

Bruce Durham, President and CEO, commented "The commencement of the Lone Mountain PEA marks another major step forward for the Company following completion and filing of the Inferred Mineral Resource Estimate in September of this year. This will be a pivotal phase for Nevada Zinc as we fast-track the development of the Lone Mountain Project as a zinc chemical compounds and oxide concentrate project. Our shareholders are uniquely positioned to benefit from the potential significant increase in zinc chemical compounds demand throughout North American markets."

Don Christie, CFO and Director, stated "The PEA will provide us with a solid base from which we will be able to communicate the economic characteristics of the Lone Mountain Project and we expect it to be a very exciting and rewarding time for Nevada Zinc."

About Nevada Zinc

Nevada Zinc is a discovery driven mineral exploration and pre-development company with a proven management team focused on identifying unique mineral exploration opportunities that have the potential to provide significant economic value to its shareholders.

The current focus of the Company is the development of the Lone Mountain Zinc Project comprised of 231 claims covering over 1,619 hectares (4,000 acres) near Eureka, Nevada.

The Lone Mountain Zinc Project is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are available. The Project includes options, leases or purchase agreements to acquire 100% interests in all properties along the entire key structural trend for more than four kilometres.

The Company has completed 85 reverse circulation drill holes and 13 core drill holes . Results from the drill programs have shown numerous broad intersections of medium to high grade non-sulphide zinc mineralization in two locations both of which are located between surface and a depth of approximately 250 metres, most of which may potentially be mined using open pit methods.

Bruce Durham P.Geo, President and CEO of the Corporation is a Qualified Person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release.

Additional information about the Company, including its updated investor presentation, is available on the Company's website: www.nevadazinc.com

For further information contact:

Nevada Zinc Corporation
Suite 1660 141 Adelaide St. West
Toronto, Ontario M5H 3L5
Tel: 416-504-8821

Bruce Durham, President and CEO
bdurham@nevadazinc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX enture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Nevada Zinc Reports Initial Mineral Resource Estimate for the Lone Mountain Zinc Project, Nevada

Toronto, Canada July 25, 2018- Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) is pleased to announce the receipt of an initial Mineral Resource Estimate of the mineralization outlined to-date at the Company’s Lone Mountain Project, Nevada (the “Project”). The Mineral Resource Estimate, completed by independent firm P&E Mining Consultants Inc., is based upon the results from 85 reverse circulation drillholes and 13 core drillholes completed to-date on the Project. The most recent program of core drillholes was designed to corroborate assay grades from the reverse circulation drilling as well as to provide further geological information and to expand the footprint of the mineralization. At a cut-off grade of 2% zinc, the pit constrained Inferred Mineral Resource Estimate was determined to be 3,257,000 tonnes grading 7.57% zinc and 0.70% lead. 

The mineralization is virtually sulphide free, has a low iron content and has been shown to be comprised of primarily zinc oxide and zinc carbonate minerals (hemimorphite and smithsonite). The physical and chemical characteristics of the zinc mineralization outlined at Lone Mountain make it  potentially suitable for the production of zinc sulphate. Metallurgical test work currently underway (in addition to work previously reported by the Company) shows the mineralization can be leached under atmospheric conditions using sulphuric acid. The targeted end product after leaching would be zinc sulphate and oxide compounds. Zinc sulphate is used on its own or in combination with other inputs to produce crop fertilizer. Currently, zinc deficiency is the most common micronutrient deficiency in crops globally. Crop yields have been proven to increase significantly through the application of zinc sulphate. 

Approximately 8% of world zinc production is consumed as zinc sulphate and oxide compounds. Production of zinc chemical compounds could present an attractive opportunity for the Company. 

The Company is continuing to evaluate the possibility of producing various zinc  chemical compounds as a potentially low capital cost high margin alternative to selling a zinc concentrate product to a smelting facility. Metallurgical test work is continuing at SGS Canada Inc. near Lakefield, Ontario. 

President and CEO of Nevada Zinc, Bruce Durham commented: “This initial Mineral Resource Estimate of the tonnage and grade of mineralization outlined to-date is another important step forward for Nevada Zinc. We have only tested about 20% of the strike length of the main controlling structure on the Project and still have additional surface exploration to complete over much of the eastern part of the Project.  With consensus forecasts for sustained reasonably strong zinc prices, Nevada Zinc is well positioned to take advantage of the fundamentally strong zinc market. The Project is particularly well located in the strong mining jurisdiction of eastern Nevada, an advantage we intend to exploit as we move the Project forward.  The physical and chemical characteristics of our mineralization could make it an ideal feedstock for the production of zinc sulphate, oxide and other chemical compounds.  

Highlights - Mineral Resource Estimate

  • The pit constrained Inferred Mineral Resource Estimate was calculated at a 2% zinc cut-off.
  • Using the 2% zinc cut-off, the Inferred Mineral Resource Estimate is 3,257,000 tonnes at a grade of 7.57% zinc and 0.70% lead. 
  • There remains significant potential to expand the limits of the mineralization discovered to-date and also discover other areas of mineralization on the Project. 
  • Metallurigical investigations including leach testing are continuing.  
  • Good progress has been made with respect to the concept to concentrate zinc mineralization at site and ship the concentrate to a smelter facility or alternatively to concentrate mineralization at site and subsequently leach the zinc carbonate and oxide mineralization to make zinc sulphate products on site or elsewhere locally.
  • There remains significant potential for the Company to find zinc lead sulphide mineralization at depth as was the case with Arizona Mining discovering the Taylor sulphide deposit below near surface oxide mineralization.
  • No significant drilling has been completed elsewhere on the Project.

Notes on the Mineral Resource Estimate from P&E Mining Consultants Inc. Include:

The drillhole database contains 85 reverse circulation drillholes and 13 diamond drillholes.

A topgraphic surface was constructed using 6m (20 ft) contours supplied by Nevada Zinc combined with the 74 surveyed drillhole collars.  The elevations of the remaining hand held GPS surveyed drillhole collars were adjusted to the resulting topographic surface.

Mineralization domains (wireframes) were constructed from connected cross-sectional polylines using a 2% Zn cut-off. The mineralization is confined to the Devil’s Gate limestone which resulted in two discrete northern mineralized domains and four discrete southern mineralized domains. 

The assay information from all of the drilling by the Company completed since 2014 was utilized as the database in this initial NI 43-101 Mineral Resource Estimate.

A total of 1,049 assays were available for grade estimation.

The  drillhole database contains 87 density measurements taken by pycnometer with values ranging from 2.55 to 4.07 tonnes per cubic metre. The average density within the defined mineralized domains is 2.98 tonnes per cubic metre and the average density of the surrounding country rock is 2.79 tonnes per cubic metre. A thin alluvium layer is present.

Since the mineralized domains are contained within the Devil’s Gate limestone, a 10% void discount factor was applied.

Only a few assay intervals for zinc, lead, arsenic and sulphur were capped.

Grade estimation was carried out using Inverse Distance Squared anisotropic linear weighting of between three and fifteen capped assay intervals selected within a search envelope oriented parallel to the defined structures. P&E Mining Consultants Inc. considers that the information available for the Nevada Zinc Corporation Lone Mountain Deposit demonstrates reasonable geological and grade continuity and satisfies the requirements for an NI 43-101 Inferred Mineral Resource Estimate.

For reporting purposes, an optimized pit shell was constructed to constrain the modelled mineralization using the following economic parameters (US$):

Screen Shot 2018-07-25 at 10.20.56 AM.png

 

The pit constrained Inferred Mineral Resource Estimate at a 2% Zinc cut-off is as follows:

Screen Shot 2018-07-25 at 10.22.54 AM.png

 

 

The sensitivity of the Mineral Resource Estimate(1-4) to Zn cut-off grade is as follows:

Screen Shot 2018-07-25 at 10.24.00 AM.png

(1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.  

(2) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

(3) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

(4) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

   

The Inferred Mineral Resouce Estimate for the Project disclosed in this press release was prepared by Fred Brown, P.Geo. and Egene Puritch, P.Eng, FEC, CET of P&E Mining Consultants Inc. By virtue of their education and experience Mr. Brown and Mr. Puritch are Qualified Persons under National Instrument 43-101. Each of them has read and approved the technical contents of this press release as to the accuracy of the statements relating to the Lone Mountain Mineral Resource Estimate.

Bruce Durham P.Geo, President and CEO of Nevada Zinc, is a Qualified Person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the scientific and technical information contained in this press release.

 

Assay Techniques

Preparation of the samples was done at the ALS Chemex Elko, NV facility.  A 250 gram master pulp was taken then splits were sent to ALS’s North Vancouver, BC facility.  A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS was completed on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% zinc or lead), the procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis).  In the case of values exceeding the limits of the ore grade analysis (30% zinc, 20% lead), the procedure was to use specialized titration methods.  

 

Laboratory QA/QC

Quality control samples from the lab include numerous control blanks, duplicates and recognized standards. Reference standards used include OREAS-131b, OREAS-133b, OREAS-134b, OGGeo08, and CZN-4.  No significant issues were noted with analytical accuracy or precision.  

ALS Chemex’s Elko, Reno and North Vancouver location has ISO/IEC 17025:2005 accreditation.

  

 

About Nevada Zinc

Nevada Zinc is a discovery driven mineral exploration company with a proven management team focused on identifying unique mineral exploration opportunities that have the potential to provide significant value to its shareholders.

While the Company continues to maintain a significant equity interest in the highly prospective Yukon gold properties through its majority ownership position in Generic Gold Corp. (“Generic Gold”), the current focus of the Company is the exploration and advancement of the Project comprised of 231 claims covering over 1,619 hectares (4,000 acres) near Eureka, Nevada and the exploration of the MacBride zinc-copper project in northern Manitoba. 

The Project is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are available. The Project includes options, leases or purchase agreements to acquire 100% interests in all properties along the entire key structural trend for more than four kilometres.

The Company has completed 85 reverse circulation drill holes on the Property and  recently completed a 13 hole core drilling program on the Property. Results from the drilling programs have shown numerous broad intersections of medium to high grade non-sulphide zinc mineralization in two locations both of which are located between surface and a depth of approximately 250 metres. 

The Company also has the right under an option agreement to earn up to an 80% interest in the MacBride Zinc Project in northern Manitoba (see the Company’s press release dated October 23, 2017).

Additional information about the Company is available on the Company’s website: www.nevadazinc.com

 

About Majority Owned Generic Gold

Generic Gold is a Toronto based mining company exploring precious metal targets in the Tintina Gold Belt in the Yukon Territory of Canada. Since incorporation, Generic Gold completed a significant 2017 exploration program that included diamond drilling on the Livingstone project and trenching on the VIP project, as well as reverse circulation drilling on its Goodman project. Generic Gold is listed on the CSE, (symbol GGC). Information on Generic Gold’s property portfolio and exploration activities are available on the company’s website at www.genericgold.ca. The Company owns 25 million common shares of Generic Gold which has 36.75 million shares outstanding.

 

For further information contact:

Nevada Zinc Corporation 

Suite 1660 141 Adelaide St. West

Toronto, Ontario M5H 3L5

Tel: 416-504-8821

Bruce Durham, President and CEO

bdurham@nevadazinc.com

 

 

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Nevada Zinc Core Drills 24.71 metre Interval Assaying 23.06% Zinc Including a 14.94 metre Interval of 29.38% Zinc at Lone Mountain

 

Toronto, Canada March 1, 2018 - Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) is pleased to announce additional drill core assay results from its thirteen hole program at the Company’s Lone Mountain Project in Nevada. The core drilling program was primarily designed to corroborate assay grades from reverse circulation drilling and to provide geological information on the mineralized zones as well as to expand the footprint of the mineralization. This new assay information provides important data that will be included when the Company produces its initial 43-101 resource estimate later this year.

The current core drill program completed by the Company is the first core drill program completed in the area since the 1940’s and follows up on the Company’s 83 reverse circulation (“RC”) drill holes completed between 2014 and 2016. 

President and CEO of Nevada Zinc, Bruce Durham commented: “our first core hole program more than met expectations. Core drilling results in the area of the discovery hole first drilled by Nevada Zinc in 2014 compared quite favourably with proximal RC holes and several of the diamond drill holes extended the limits of the mineralization.  With the very strong zinc price performance over the last year and with consensus forecasts for sustained or higher zinc prices, Nevada Zinc is well positioned to take advantage of a strong zinc market. The Lone Mountain Project is particularly well located in a strong mining jurisdiction in eastern Nevada, an advantage the Company intends to exploit as we move the Lone Mountain Project forward.”

Core Drilling Highlights

  • Core drill holes that accurately twinned previous RC drill holes were largely similar to the extent and the grade of the mineralization intersected;  some areas showing significantly higher grade partly because the core drilling equipment, with improved mudding techniques, allowed for better recovery of the mineralized zone than with the RC drilling equipment.
  • Core hole  LM-17-01 (previously reported) which was a twin of RC hole 14-01 intersected a similar interval to RC hole 14-01 although the overall assay interval was some 26% higher at 9.58% zinc+lead over 91.5 metres.
  • Core hole NLM-17-09 was drilled in close proximity to RC drill hole LM-15-24 with the former intersecting mineralization grading 8.53% zinc+lead over an interval of 27.45 metres while the latter intersected 50.29 metres of mineralization grading 5.26%lead+zinc. While the interval shows significant variation in total length, the contained length-weighted amount of zinc+lead is quite similar.
  • Core hole NLM-17-10 twinned RC drill hole LM-15-23 with the new hole intersecting 25.62 metres of mineralization grading 4.42% zinc+lead while the RC hole intersected 18.29 metres grading 3.77% zinc+lead. 
  • Core hole NLM-17-12 which intersected 15.25 metres of mineralization grading 5.00% zinc+lead, was a twin of the intersection in RC drill hole LM-15-34 which intersected a similar length and grade of mineralization at 16.76 metresgrading 5.96% zinc+lead.
  • Core hole NLM-17-02 extended the mineralization to depth by approximately 25 metres. 
  • Core holes NLM-17-3 through NLM-17-7 were drilled in the historic Mountain View Mine area with the best hole, NLM-17-4 intersecting 4.32% zinc+lead over a length of 13.72 metres starting at a downhole depth of 38.13 metres (27 metres vertical). The holes at the Mountain View Mine area were designed to extend the limits of the  shallow mineralized zones.
  • Core hole NLM-17-11 extended the mineralization first drilled in RC drill hole LM-15-34 up-dip by approximately 20 metres.
  • Metallurgical test work is ongoing and the results of that work will be reported separately.
  • The Company intends to be in a position soon to start an initial 43-101 resource estimate on the mineralization discovered to-date at Lone Mountain. There remains significant potential to expand the limits of the mineralization discovered to-date as well as potential to discover other areas of mineralization on the property. 

 

An updated location map is shown below
 



Nevada Zinc will be presenting at the upcoming PDAC convention in Toronto at booth 2215 on Tuesday, March 6 and Wednesday, March 7. 
 

North Lone Mountain Core Drilling Highlights

nzn2.png

True widths are not known at this time.

 

Assay Techniques

Preparation of the samples was done at the ALS Chemex Elko, NV facility.  A 250 gram master pulp was taken then splits were sent to ALS’s North Vancouver, BC facility.  A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS was completed on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% zinc or lead), the procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis).  In the case of values exceeding the limits of the ore grade analysis (30% zinc, 20% lead), the procedure was to use specialized titration methods.  

Laboratory QA/QC

 

Quality control samples from the lab include numerous control blanks, duplicates and recognized standards. Reference standards used include OREAS-131b, OREAS-133b, OREAS-134b.  No significant issues were noted with analytical accuracy or precision.  

ALS’s Elko location has ISO/IEC 17025:2005 accreditation.

nzn3.png
nzn4.png

*NAD 83, UTM Zone 11N

 

About Nevada Zinc

Nevada Zinc is a discovery driven, early-stage mineral exploration company with a proven management team focused on identifying unique mineral exploration opportunities that can provide significant value to its shareholders.

While the Company continues to maintain a significant equity interest in the highly prospective Yukon gold properties through its majority ownership position in Generic Gold Corp. (“Generic Gold”), the current focus of the Company is the exploration and advancement of the Lone Mountain Zinc Project comprised of 224 claims covering approximately 4,000 acres near Eureka, Nevada and the exploration of the MacBride zinc-copper project in northern Manitoba. 

The Lone Mountain Zinc Project is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are available. The Project includes options, leases or purchase agreements to acquire 100% interests in all properties along the key structural trend for more than 4 kilometres.

The Company has completed 83 reverse circulation drill holes on the property and  recently completed a 13 hole diamond drill hole program on the property. Results from the drilling programs have shown numerous broad intervals of medium to high grade non-sulphide zinc mineralization in two locations both of which are located between surface and a depth of approximately 250 metres. 

The Company also has the right under an option agreement to earn up to an 80% interest in the MacBride Zinc Project in northern Manitoba (see the Company’s press release dated October 23, 2017).

Additional information about the Company is available on the Company’s website: www.nevadazinc.com

Bruce Durham P.Geo, President and CEO of Nevada Zinc, is a Qualified Person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release.

 

About Majority Owned Generic Gold

Generic Gold is a Toronto based mining company exploring targets in the Tintina Gold Belt in the Yukon Territory of Canada. Since incorporation, Generic Gold has raised approximately $2.4 million to fund 2017 and 2018 exploration programs and has completed diamond drilling on the Livingstone project, trenching on the VIP project, and has completed reverse circulation drilling on its Goodman project. Generic Gold is currently pursuing a going public transaction which is expected to be completed in the next week.  For information on Generic Gold’s property portfolio and exploration activities, visit the company’s website at genericgold.ca. The Company owns 25 million common shares of Generic Gold (GGC–CSE) which has 36.75 million shares outstanding.

 

For further information contact:

Nevada Zinc Corporation 

Suite 1660 141 Adelaide St. West

Toronto, Ontario M5H 3L5

Tel: 416-504-8821

Bruce Durham, President and CEO

bdurham@nevadazinc.com

www.nevadazinc.com

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results relating to, among other things, the ability to complete the Business Combination, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.


 

Nevada Zinc Reports on Majority Owned Generic Gold Corp’s Exploration Update on its Goodman Gold Project

Toronto – December 14, 2017 -Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) is pleased to announce that majority owned Generic Gold Corporation (“Generic Gold”) has provided the Company with an update on exploration activities completed at the Goodman and Seattle projects, approximately 40 kilometres northwest of Mayo and immediately southwest of Victoria Gold’s Eagle Gold project, Yukon Territory. The Company owns 25 million shares (approximately 75% of the issued and outstanding shares) of Generic Gold.

The work completed during the 2017 field season consisted of reverse circulation  drilling, induced polarization (“IP”) geophysics, soil sampling, prospecting, and geological mapping. Additionally, the land positions at the Goodman project and the nearby Seattle project were significantly increased, and a NI-43-101compliant technical report was completed. A summary of the highlights of the work completed can be seen on the following map.

 

President and CEO of Nevada Zinc, Bruce Durham commented: “When we initially acquired the main block of Goodman claims in 2010 there was virtually no history of exploration in the entire area west of the Victoria Gold property despite the fact that the Goodman property covered the headwaters of a number of gold bearing placer creeks. Solid exploration programs by us, and now Generic Gold, have resulted in the definition of a significant extension to the structural domains on the Victoria Gold property for kilometres farther to the west through the Goodman property. Numerous gold exploration targets have been defined on the property, the first of which were drill tested this year. This drilling was the first ever completed on this camp scale project located immediately adjacent to the southwest of Victoria Gold’s Eagle gold deposit. Of particular importance is the fact that significant disseminated sulphides were discovered in association with quartz vein material in several locations”.

The Goodman project covers an area of roughly 19 x 5 kilometres, located 40 kilometres northwest of Mayo, and is accessible by a government maintained all-season road. The project is contiguous with Victoria Gold’s Eagle Gold Project (Proven & Probable Reserves 2.67Moz Au (Victoria Gold Corp. Feasibility Study, October 26, 2016)), along the interpreted extension of the Potato Hills Trend. The Goodman property includes claims inside the Victoria Gold property very close to and covering the extension of the historic Peso silver mine adit. The Goodman property is also proximal to Alexco Resource’s Keno Hill Silver District project and Golden Predator’s Gold Dome project.

 

 

The 2017 work program consisted of:

NI-43-101 Technical Report

  • Carl Schulze, P.Geo, of Aurora Geosciences completed an independent technical Property of Merit report on the Goodman Project on October 13, 2017.
  • The report determined that the Goodman Project represents a “property of merit” due to widespread geochemical anomalies, potential geological setting, and proximity to the Eagle and Olive zones within the adjoining Dublin Gulch property held by Victoria Gold Corp. Mr. Schulze determined that the results of geochemical sampling to date indicate a gold +/- silver bearing system, with an associated pathfinder element signature, typical of Intrusion-Related Gold mineralization.
  • The recommendations of the report included: ground-based geophysics, including magnetic, VLF, and IP; continued extension of the existing soil sampling grids; geological mapping, prospecting, and trenching; a study on gold grains from proximal placer mining sites; and RC drilling. 
  • This report will be filed on SEDAR by Generic Gold.

Induced Polarization Geophysical Survey

  • A high-resolution IP survey was completed in the Murphy’s Creek area of the Goodman project. Eighteen chargeable anomalies were identified, some of which are directly coincident with geochemical anomalies identified in previous exploration campaigns.

Reverse Circulation Drilling (RC)

  • An RC drilling program was completed following receipt of both the Goodman 43-101 technical report and the IP survey results. Eleven drill holes were completed for 850 metres of drilling, targeting high priority geophysical and geochemical anomalies. Drilling intersected significant intervals of alteration (silica, sericite, carbonate) along with quartz veining and disseminated sulfides (dominantly pyrite, with lesser arsenopyrite and stibnite).

Soil sampling, prospecting, and geological mapping

  • Soil sampling and prospecting was undertaken in underexplored areas of the large property, while follow-up grid sampling and geological mapping was conducted in areas identified as anomalous in previous exploration campaigns. A total of 71 rock samples and 333 soil samples were taken during the duration of the field program.

Staking

  • The land position at Goodman and the neighbouring Seattle property were significantly expanded by 51 and 96 quartz claims, respectively.
  • The combined land package at the two properties is now roughly 12,000 hectares, or 574 Quartz claims.

Results are pending and will be released by the Company once they have been received from Generic Gold.

 

References

JDS Energy & Mining Inc., 2016, NI 43-101 Feasibility Study Technical Report for the Eagle Gold Project, Yukon Territory, Canada, effective September 12, 2016, p. 1-11

About Generic Gold

 

Generic Gold was incorporated pursuant to the Business Corporation Act (Ontario) on May 30, 2017. Generic is a Toronto based mining company exploring targets in the Tintina Gold Belt in the Yukon Territory. The company purchased its Yukon property portfolio from Nevada Zinc, who currently own approximately 75% of Generic Gold’s common shares. Since incorporation, Generic Gold has raised approximately $2.4 million to fund 2017 and 2018 exploration programs and has completed diamond drilling on its Livingstone project, trenching on its VIP project, and reverse circulation drilling on its Goodman project.  

For information on Generic Gold’s property portfolio and exploration activities, visit the company’s website at genericgold.ca or contact Kelly Malcolm, President and CEO, at kmalcolm@genericgold.ca or 647-299-1153.

 

About Nevada Zinc

 

Nevada Zinc is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders.

 

While the Company continues to maintain a significant equity interest in the highly prospective Yukon gold properties through its majority ownership position in Generic Gold Corporation (“Generic Gold”), the current focus of the Company is the exploration and advancement of the Lone Mountain Zinc Project comprised of 224 claims covering approximately 4,000 acres near Eureka, Nevada.

 

The Lone Mountain Zinc Project is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are available. The Project includes options, leases or purchase agreements to acquire 100% interests in all properties along the key structural trend for more than 4 kilometres.

 

The Company has completed 83 reverse circulation drill holes on its Lone Mountain Zinc Project and recently completed an initial 13 hole core drilling program on the property. Results from the RC drilling programs showed numerous broad intervals of medium to high grade non-sulphide zinc mineralization in two locations where the zinc mineralization is located between surface and a depth of approximately 250 metres.

 

The Company also recently obtained the right under an option agreement to earn up to an 80% interest in the MacBride Zinc Project in northern Manitoba (see the Company’s press release dated October 23, 2017).

 

Bruce Durham P.Geo, President and CEO of Nevada Zinc, is a Qualified Person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release. For further information please contact:

 

Nevada Zinc Corporation 

Suite 1660 141 Adelaide St. West

Toronto, Ontario M5H 3L5

Tel: 416-504-8821

 

Bruce Durham, President and CEO

bdurham@nevadazinc.com 

 

www.nevadazinc.com

 

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results relating to, among other things, the ability to complete the Business Combination, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

 

Nevada Zinc Core Drills 16.62 metre interval assaying 12.79% Zinc and 8.84% Lead (21.63% zinc+lead) in an overall interval of 91.5 metres averaging 7.67% Zinc and 1.91% Lead (9.58% zinc+lead)

TORONTO, Nov. 20, 2017 (GLOBE NEWSWIRE) -- Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V:NZN) is pleased to announce the first cored drill hole assay results from its 13 hole core drill program recently completed at the Company’s Nevada based Lone Mountain Zinc Project. Results for 11 of the confirmation and step-out core drill holes are pending.

The Company’s drill program is the first core drill program completed on the Lone Mountain Zinc Project since the 1940s and follows up on the Company’s 83 reverse circulation drill holes completed between 2014 and 2016.

Bruce Durham, President and CEO of Nevada Zinc, commented: “Assay results from our first core hole exceeded expectations. The RC discovery hole we drilled at this location in 2014 returned a high grade and extensive interval of zinc and lead mineralization grading 7.56% zinc + lead over 89.92 metres. This  core hole returned a slightly longer interval of 91.5 metres, however, it assayed more than 26% higher than the RC drill hole, assaying a combined  9.58% zinc + lead over the 91.5 metre or 300 foot interval. With current strong zinc prices and a forecast for a continuation of strong zinc prices going forward our Lone Mountain Zinc Project is very well positioned and we are anxious to receive the remaining assay results from this initial core drill program.”

Highlights

Core hole assay results from NLM-17-01 include a 16.62 metre (54.5 foot) interval assaying 12.79% zinc and 8.84% lead (21.63% zinc + lead) within an overall interval of 91.5 metres (300 feet) grading 7.67% zinc and 1.93% lead (9.58% zinc + lead). 

Hole NLM-17-01 twinned the original RC drill hole (NLM-14-01) at that location. The RC drill hole intersected an interval of 89.92 metres (295 feet) assaying 6.22% zinc and 1.34% lead (7.56% zinc+lead). Drill hole NLM-17-01 provides important comparative assay information as well as geological data that will be used in the Company’s continuing analysis and future reporting.

The average grade of core hole NLM-17-01 is a significant 26.7% higher than the average grade in RC drill hole NLM-14-01.

Core hole assay results are still pending for 11 additional holes.

The top of the mineralization in core hole NLM-17-01 is at a vertical depth of approximately 100 metres.

The overall 91.5 metre interval in hole NLM-17-01 included approximately 15.24 metres (50 feet) of areas with little or no core recovery that were included at zero grade in the interval average thereby reducing the overall reported average grade.

Hole NLM-17-02 intersected 18.3 metres (60 feet) of mineralization grading 4.6% zinc approximately 25 metres behind (to the northeast of) the intersection in RC hole NLM-16-64, one of the deepest holes on the Lone Mountain property.

Screen Shot 2017-11-21 at 12.14.34 AM.png

 

Hole NLM-17-01 drilled at -70 degree dip, 180 degrees azimuth and hole NLM-17-02 drilled at -88 degrees dip and 120 degrees azimuth.

True widths are not known at this time.

LoneMountainProjectDrillCollars.png

 

About Nevada Zinc

Nevada Zinc is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders.

While the Company continues to maintain a significant equity interest in the highly prospective Yukon gold properties through its majority ownership position in Generic Gold Corporation (“Generic Gold”), the current focus of the Company is the exploration and advancement of the Lone Mountain Zinc Project comprised of 224 claims covering approximately 4,000 acres near Eureka, Nevada.

The Lone Mountain Zinc Project is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are available. The Project includes options, leases or purchase agreements to acquire 100% interests in all properties along the key structural trend for more than 4 kilometres.

The Company has completed 83 reverse circulation drill holes on its Lone Mountain Zinc Project and  recently completed an initial 13 hole diamond drill hole program on the property. Results from the RC drilling programs showed numerous broad intervals of medium to high grade non-sulphide zinc mineralization in two locations both of which are located between surface and a depth of approximately 250 metres.

The Company also recently obtained the right under an option agreement to earn up to an 80% interest in the MacBride Zinc Project in northern Manitoba (see the Company’s press release dated October 23, 2017).

Additional information about the Company is available on the Company’s website: www.nevadazinc.com.

Bruce Durham P.Geo, President and CEO of Nevada Zinc, is a Qualified Person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release.

About Majority Owned Generic Gold

Generic Gold is a Toronto based mining company exploring targets in the Tintina Gold Belt in the Yukon Territory of Canada. Since incorporation on May 30, 2017, Generic Gold has raised approximately $2.4 million to fund its 2017 and 2018 exploration programs and has completed diamond drilling on its Livingstone project, trenching on its VIP project, and has commenced reverse circulation drilling on its Goodman project. Generic Gold is currently pursuing a going public transaction which is expected to be completed within the next 45 to 60 days. Nevada Zinc currently owns 25 million common shares of Generic Gold or approximately 75% of the issued and outstanding common shares. For further information on Generic Gold’s property portfolio and exploration activities please visit the company’s website at genericgold.ca.

For further information contact:

Nevada Zinc Corporation
Suite 1660 141 Adelaide St. West
Toronto, Ontario M5H 3L5
Tel: 416-504-8821

Bruce Durham, President and CEO
bdurham@nevadazinc.com

www.nevadazinc.com

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results relating to, among other things, the ability to complete the Business Combination, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Nevada Zinc Reports on Majority Owned Generic Gold Corporation’s Exploration Program on the VIP Gold Project

Toronto, Canada November 16, 2017- Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) is pleased to announce that majority owned Generic Gold Corporation (“Generic Gold”) has provided the Company with an update on the exploration activities completed at its VIP Project, approximately 120 kilometres south of Dawson City and west of Goldcorp’s Coffee Project, Yukon Territory. The Company owns 25 million shares (approximately 75% of the issued and outstanding shares) of Generic Gold.

The 2017 field program was the most comprehensive work program completed on the 17,500 hectare VIP Project since 2010 when the Company acquired most of the property (prior to the Kaminak discovery of the Coffee gold deposits). The work completed during the 2017 field season consisted of trenching, soil sampling, prospecting, geological mapping, and geoprobe sampling. 

President and CEO of Nevada Zinc, Bruce Durham commented: “VIP was the first  and top priority property in our initial Yukon portfolio. We were acquiring the VIP claims before Kaminak announced the first Coffee Project diamond drill hole results so we were in the Coffee Creek district very early. I am excited to see that Generic elected to carry out a significant work program on VIP this summer and we are anxiously awaiting the assay results from their work given some of the similarities in the recently trenched material at VIP and the original geological commentary on Kaminak’s Coffee gold discoveries”. 

The VIP project covers an area of roughly 17 x 13 kilometres, located 120 kilometres south of Dawson City, and is accessible by helicopter, nearby fixed wing aircraft airstrips, and nearby barge ports along the Yukon River. The project is in the White Gold district, approximately 20 kilometres west of Goldcorp’s Coffee gold deposits (2.16 Moz Au P&P Reserves, 0.78 Moz Au M&I Resources, 1.15 Moz Au Inferred Resources (Goldcorp Mineral Reserves & Resources, June 30, 2017), along the interpreted extension of the Coffee Creek fault system. The VIP Project is also contiguous with Independence Gold Corp.’s Boulevard property, Goldcorp’s Apollo property, and White Gold Corp.’s recently staked Coffee Trend West properties.

 

The 2017 VIP work program consisted of:

Mechanical Trenching

  • Four trenches were dug by a heli-portable excavator in the area of the Big Creek anomaly. Due to more permafrost than expected and variable topography, the trenching focused on a portion of the northern margin of the interpreted 700+ metre long northwest trending Au-Ag-Bi-Mo-Cu-Pb-Zn-Se-Te-Hg anomaly.

 

  • Trenching identified an extensive zone of strong alteration and coincident oxidation. The altered and oxidized rock material was predominantly quartz-sericite schist that has been altered to an assemblage of quartz, sericite, oxidized pyrite, hematite, limonite, and various clay minerals, indicating the presence of a significant hydrothermal system.

 

  • The abundance of significantly oxidized rock encountered suggests the presence of a structural corridor which may host associated gold mineralization. At Goldcorp’s neighbouring Coffee Project “the mineralized structures at the Coffee Project have undergone extensive preferential weathering and oxidation of iron-bearing minerals as a result of meteoric fluids percolating from surface downwards through the permeable structural corridors. Conversely, unfractured and unaltered country rock is typically fresh (unoxidized) at surface. As a result of this preferential weathering, oxidation is channelized along the structural corridors. … Oxidation appears to be channeled along the structural corridors that host the deposits.” (Coffee Gold Project Feasibility Study, 2016)

Geoprobe Sampling

  • Forty-six geoprobe samples were drilled across the Big Creek anomaly at 5 metre spacings. The geoprobe drilling was done to penetrate through permafrost that limits the effectiveness of soil sampling, in order to test the uppermost portion (approximately 10 centimetres) of bedrock and basal soils. Oxidized rock and soil material was intersected over 130 metres (26 of 46 samples) crossing the Big Creek anomaly.

Soil sampling, prospecting, and geological mapping

  • Soil sampling and prospecting was undertaken in underexplored areas of the large property. Ridge and spur style soil sampling was completed in unexplored areas of the project, while follow-up grid sampling and geological mapping was conducted in areas identified as anomalous in previous exploration campaigns. A total of 65 rock samples and 658 soil samples were taken during the duration of the field program.

Results are pending and will be released by the Company once they have been received from Generic Gold.

References

JDS Energy & Mining Inc., 2016, NI 43-101 Feasibility Study Technical Report for the Coffee Gold Project, Yukon Territory, Canada, effective January 6, 2016, pgs. 7-19.

Goldcorp Inc. Mineral Reserves and Mineral Resources, as of June 30, 2017 https://s22.q4cdn.com/444421831/files/doc_downloads/reserves_resources/Goldcorp-Reserves-Resources-as-of-30-June-2017.pdf

About Generic Gold

Generic Gold was incorporated pursuant to the Business Corporation Act (Ontario) on May 30, 2017. Generic is a Toronto based mining company exploring targets in the Tintina Gold Belt in the Yukon Territory. Since incorporation, Generic Gold has raised approximately $2.4 million to fund 2017 and 2018 exploration programs and has completed diamond drilling on its Livingstone project, trenching on its VIP project, and has commenced reverse circulation drilling on its Goodman project. Genric Gold is currently pursuing a going public transaction which is expected to be completed in the next 45 to 60 days.  For information on Generic Gold’s property portfolio and exploration activities, visit the company’s website at genericgold.ca or contact Kelly Malcolm, President and CEO, at kmalcolm@genericgold.ca or 647-299-1153.

About Nevada Zinc

Nevada Zinc is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders.

While the Company continues to maintain a significant interest in the highly prospective Yukon gold properties through its majority ownership position in Generic Gold, the current focus of the Company is the exploration and advancement of the Lone Mountain Zinc Project comprised of 224 claims covering approximately 4,000 acres near Eureka, Nevada. 

The Lone Mountain Zinc Project is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are available. The Project includes options, leases or purchase agreements to acquire 100% interests in all properties along the key structural trend for more than 4 kilometres.

The Company has completed 83 reverse circulation drill holes on the property and has recently completed a 13 hole diamond drill program.  Results from the RC drilling programs have shown numerous broad intervals of medium to high grade non-sulphide zinc mineralization in two locations both of which are located between surface and a depth of approximately 250 metres.  Initial diamond drill core assay results remain outstanding at this time, however, assay results are expected to be received commencing prior to the end of November.

In addition the Company has recently expanded its project portfolio by acquiring the rights under an option agreement to earn up to an 80% interest in the MacBride Zinc Project in northern Manitoba (see the Company’s press release dated October 23, 2017).

Additional information about the Company is available on the Company’s website: www.nevadazinc.com

Bruce Durham P.Geo, President and CEO of Nevada Zinc, is a Qualified Person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release.

 

For further information please contact:

Nevada Zinc Corporation 

Suite 1660 141 Adelaide St. West

Toronto, Ontario M5H 3L5

Tel: 416-504-8821

 

Bruce Durham, President and CEO

bdurham@nevadazinc.com 

 

www.nevadazinc.com

 

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results relating to, among other things, the ability to complete the Business Combination, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Nevada Zinc Options Zinc-Copper Project With Historic Resources And Significant Untested Exploration Targets

Toronto, October 23, 2017 – Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) announces it has entered into an option agreement that allows the Company the right to earn up to an 80% interest in the MacBride zinc property (the “MacBride Property”).  The MacBride Property, located in central Manitoba, contains the high grade MacBride zinc deposit located along a six kilometre structural magnetic high corridor.  Along this well defined magnetic high corridor, several additional untested electromagnetic (“EM”) airborne anomalies similar to the EM signature of the MacBride zinc deposit have been identified. The MacBride Property is located approximately 60 kilometres from the significant, Ruttan zinc-copper mine owned by Trevali Mining Corporation (former open pit and underground mine). Given the propensity for these volcanogenic zinc and copper rich massive sulphide deposits to be found in proximity to each other and the history of discoveries in the belt, the Company views the MacBride zinc deposit as having very high potential for additional discoveries. 

Bruce Durham, President and CEO of Nevada Zinc commented, “Reasonably accessible, high grade, near-surface zinc deposits with significant room for growth like the MacBride zinc deposit are very rare, particularly in a stable, safe and mining friendly jurisdiction like Manitoba.  The MacBride zinc deposit remains open to expansion in all directions and with additional drilling has the potential to be much larger in size.  Modern airborne geophysical data and interpretation shows a number of undrilled, similar, EM targets which indicate a high likelihood of discovering additional zinc-copper mineralization elsewhere on the MacBride Property. Nevada Zinc now has two significant zinc exploration projects underway, both in excellent jurisdictions. Diamond drilling continues at our Lone Mountain project in Nevada. We expect to begin to receive drill core assay results near the end of this month from Lone Mountain and we will begin compilation work at MacBride immediately.”

 

MacBride Property Highlights

  • Large contiguous land package

The MacBride Property is comprised of 22 contiguous mining claims covering an area of 4,992 hectares 45 kilometres north of Leaf Rapids, Manitoba and the MacBride Property is reasonably accessible. The MacBride Property covers the favourable volcanogenic massive sulphide stratigraphy for more than 15 kilometres. 

  • Significant historical resource

An historical report by Knobby Lake Mines Limited in 1977 outlined a resource for the MacBride zinc deposit which Nevada Zinc is treatingas an “historical estimate” under NI 43-101 and not as a current mineral resource. The historical resource is summarized below:

 

Historical Resource, MacBride Zinc Deposit, Manitoba

MacBride Tonnes   Zn (%)   Cu (%)   Au (g/t)    Ag (g/t)

Main       1,820,055   8.8        0.30  0.10    4.50              ________________________________________________

 

Historical estimates of grade and tonnage in this press release are viewed as reliable and relevant based on the information and methods used at the time. However, they were not prepared in compliance with resource definitions under NI 43-101 and must be considered only as historic resources. Neither Nevada Zinc nor its Qualified Persons have done sufficient work to classify the historic estimate as a current mineral resource under current mineral resource or mineral reserve terminology and the Company and its QP are not treating the historic estimate as a current mineral resource. The historic resource should not be relied upon.  Additional work including surface geophysics, drilling and bore hole geophysics will need to be completed to upgrade the historical resource to current NI43-101 standards.

  • Near surface drill holes include results of 9.98% zinc and 0.56% copper over a core length of 10.67 metres (depth approximately 25 metres). True width of the zone is unknown.
  • Deeper drill holes (near a vertical depth of225 metres) include an interval of 10.3% zinc over a core length of 11.19 metres. True width of the zone is unknown.
  • Mineralization appears to be open to significant expansion along strike and the mineralization also remains open beyond the depth of the deepest drill holes.
  • Processing of the available recent geophysical database shows the existence of numerous similar untested targets.
  • Manitoba is an excellent jurisdiction with a strong local history of zinc and copper mining (Lyn Lake Manitoba area).
  • Lack of local surface exposure means only shallow or exposed mineralization was tested historically.
  • Newly identified outside targets remain untested and exhibit conductivity characteristics virtually identical to MacBride zinc deposit’s electromagnetic response.
  • Scattered copper and gold mineralization located outside the MacBride zinc deposit area near other targets was reported in some historic work on and in the area of the MacBride Property.

 

The MacBride zinc deposit, discovered in the 1970’s, has seen only limited drilling and has not been subjected to an extensive, systematic, exploration program.  The MacBride zinc deposit is within the same Paleoproterozoic-aged metavolcanic rocks and interbedded meta-sediments as those that host the historic Ruttan copper-zinc mine.  The MacBride zinc deposit coincides with a 1.8 kilometre long, strongly conductive, EM anomaly feature hosted within a well defined extensive magnetic high corridor that is more than six kilometres long.  The deposit has been drilled along a strike length of approximately 275 metres and the remaining 1,550 metres of the EM anomaly remains untested.  The MacBride zinc deposit remains open along strike and at depth.  There are numerous similar conductive EM anomalies that have been identified in reprocessing of a modern airborne geophysical survey along the magnetic corridor that remain undrilled.

 

The MacBride zinc deposit mineralization consists of coarse pyrite in a matrix of pyrrhotite, sphalerite and containing blebs of chalcopyrite.  The extensive recrystallization of the massive sulphides and incorporation of wall rock fragments in the deposit mineralization suggests significant sulphide remobilization. The gangue mineral assemblage is lightly disseminated with sulphides and is primarily comprised of amphibole, biotite, chlorite, sericite and garnet typical of wall rock alteration products in volcanic massive sulphide deposit terrains. 

 

Summary of Option Agreement

Nevada Zinc, as optionee, has the right to earn an initial 70% interest in the MacBride Property by making aggregate cash payments to Rockcliff Copper Corporation (“Rockcliff”), as optionor, of $200,000 over a three year term commencing with a $30,000 cash payment and the issuance of 200,000 shares to Rockcliff within five business days from the closing date of the option agreement, as well as incurring total expenditures on the MacBride Property of $2,500,000 over three years. Minimum expenditures of $250,000 are required annually. Upon earning an initial 70% interest in the MacBride Property, Nevada Zinc can increase its ownership interest to 80% by making a $2,000,000 payment to Rockcliff. In the event either party has its ownership interest reduced below 10% its interest shall convert to a 1% net smelter returns royalty or a 0.5% royalty on those claims subject to a pre-existing royalty. Certain claims in the MacBride Property are subject to a maximum 2% net smelter returns royalty payable to the original property vendor, 1% of which may be purchased. The option agreement is subject to regulatory approval.

 

About Nevada Zinc

Nevada Zinc is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders.

While the Company continues to maintain a significant interest in the highly prospective Yukon gold properties through its majority ownership position in Generic Gold Corporation, the current focus of the Company is the exploration and advancement of the Lone Mountain zinc project comprised of 224 claims covering approximately 4,000 acres near Eureka, Nevada. 

The Lone Mountain zinc project is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are available. The project includes options, leases or purchase agreements to acquire 100% interests in all properties along the key structural trend for more than 4 kilometres.

The Company has completed 83 reverse circulation drill holes on the Lone Mountain property and is currently carrying out a minimum 12 hole diamond drill hole program on the property. Results in the RC drilling programs showed numerous broad intervals of medium to high grade non-sulphide zinc mineralization in two locations both of which are located between surface and about 250 metres depth.  Initial diamond drill core assay results remain outstanding at this time, however, assay results are expected to begin to be received commencing in October. 

 

Additional information about the Company is available on the Company’s website: www.nevadazinc.com

 

References:

Trevali Mining Corporation website: Ruttan size – 82.8 million tonnes at grades of 1.37% copper and 1.63% zinc.

Current inferred resource at Ruttan 19.75 million tonnes at grades of 1.17% copper and 1.47% zinc.

Bruce Durham P.Geo, President and CEO of Nevada Zinc, is a Qualified Person, as that term is defined by Canadian regulatory guidelines under National Instrument 43-101, and has read and approved the technical information contained in this press release.

 

For further information contact:

Nevada Zinc Corporation 

Suite 1660, 141 Adelaide St. West

Toronto, Ontario M5H 3L5

Tel: 416-504-8821

Bruce Durham, President and CEO

bdurham@nevadazinc.com

 

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results relating to, among other things, the ability to complete the Business Combination, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.