Nevada Zinc Intersects Near Surface High Grade Zinc Mineralization Including: 18.32% Zinc over 6.10 metres

Toronto, Ontario – April 8, 2015 – Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) announces that the latest Phase 2 drill holes on the Company’s Lone Mountain property (the “Property”) intersected significant zinc mineralization in a location more than 200 metres from any drilling reported to date. The significant zinc mineralization in the drill holes is projected to correlate directly with the location of a 1400 metre long surface zinc geochemical anomaly on the Property in Eureka County, Nevada.  The Company has now received BLM drilling authorization for drilling in new areas and will commence Phase 3 drilling at various Property sites this month.

President and CEO, Bruce Durham commented on the recent results: “These latest drill results, more than 200 metres along strike from previously released assay results, considerably expand the footprint of the Company’s discovery and definitely shows that there is more than one area of zinc mineralization on the Property.  We have discovered this mineralization near surface and very close to the 1400 metre long soil geochem anomaly which gives us confidence that we will discover more zinc mineralization by targeting this anomaly with the Phase 3 drill program scheduled to start next week.”

Drilling Cross Section

The first hole in this area, LM-15-16 (-45 degrees) intersected shallow zinc mineralization that averaged 11.05% zinc over a hole length of 10.67 metres (35 feet). The mineralization was intersected at a vertical depth of only 25 metres.

The second hole from the same setup, LM-15-17 (-90 degrees), intersected the same mineralized system as hole LM-15-16 with the zinc mineralization averaging 3.04% over 22.86 metres (75 feet) including a higher grade interval averaging 5.21% zinc over an interval of 12.19 metres (40 feet). The top of the mineralized zone is located 35 metres below surface.

The third hole at this location drilled between the initial two holes, LM-15-18 (-66 degrees) intersected the widest interval of mineralization and averaged 6.14% zinc over 47.25 metres (155 feet), including a high grade interval of 18.32% zinc over a 6.1 metre (20 feet) interval. The top of the mineralized zone is 27 metres below surface.

Two other holes in this area, LM-15-19 and LM-15-20 did not intersect significant mineralization although one hole, drilled at an acute angle to the trend of the mineralized zone (for structural information) may have been terminated prior to intersecting the mineralization (see details below and in the accompanying table).

 

Highlights

  • Drill hole LM-15-16 (-45 degrees) intersected zinc mineralization that averaged 11.05% zinc over a 10.67 metre (35 foot) interval at a vertical depth of only 25 metres.
  •   Drill hole LM-15-17 (-90 degrees) intersected the same mineralized system with zinc mineralization averaging 3.04% over 22.86 metres (75 feet) including a higher grade interval averaging 5.21% zinc over an interval of 12.19 metres (40 feet).
  • Drill hole LM-15-18 (-66 degrees) intersected the widest interval of mineralization and averaged 6.14% zinc over a hole length of 47.25 metres (155 feet), including a high grade interval of 18.32% zinc over a 6.1 metres (20 feet).
  • The assay results from the Phase 1 and early Phase 2 drill holes indicate the presence of intervals of significant zinc-lead mineralization up-dip and to the northwest and southeast of the discovery first reported in the Company’s press release dated November 19, 2014 and now at a location some 200 metres to the southeast.
  • A strong coherent zinc in soil anomaly accompanies the up-dip projection of the mineralization for a minimum 1400 metre length parallel to stratigraphy.
  • The mineralization at this latest location is almost entirely zinc. This style of mineralization correlates with the findings of the geochem survey results in that the 1400 metre long geochem target has high coherent zinc values with weak lead values.
  • The next drill program will begin to test for the presence of zinc mineralization in association with the well-defined geochem anomaly.
  • Phase 3 drilling is scheduled to commence in one week.

 

Drilling Plan Map

Drilling Details

Reverse circulation drill holes LM-15-16, LM-15-17 and LM-15-18 were drilled from the same setup to test for the presence of near surface non-sulphide zinc mineralization to the west of the historic Mountain View mine. All three holes intersected near surface significant zinc mineralization identifying the presence of zinc mineralization roughly 100 metres to the west of the main historic shaft and more than 200 metres from the area where Nevada Zinc has drilled to date. The intersections in these holes demonstrate that the mineralization is variable in grade and continuity.

 

Drilling Results

Significant assays from the drill program are presented in the following tables:

RC Hole ID LM-15-16  
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
33.53 44.20 10.67 11.05 0.01 11.06

 

RC Hole ID LM-15-17  
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
35.05 57.91 22.86 3.04 0.04 3.08
including
45.72 57.91 12.19 5.21 0.02 5.23

 

RC Hole ID LM-15-18  
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
27.43 74.68 47.25 6.14 0.06 6.20
including
35.05 41.15 6.10 18.32 0.04 18.36

Based on the results of the entire phase 1 + phase 2 drill programs the Company is currently unable to determine the
 true width of the intersections reported in this and prior releases.

The Phase 2 drill program was mostly comprised of reverse circulation drilling targeted at extending the known dimensions of the mineralized zone tested in the Phase 1 drill program and drill testing the known and interpreted zinc-lead mineralization identified in the studies completed in the Phase 1 drill program. Work also commenced on a number of technical fronts that will include preliminary work on the characteristics of the mineralization. The Company has designed a program of broad spaced drill testing of a strong soil geochemical anomaly that appears to correlate with the interpreted location of the surface expression of the zinc-lead mineralized zones of interest. BLM authorization has been received and drilling operations are scheduled to commence by mid April. The surface trace of the strongest zinc in soil anomaly also correlates well with the on-strike location of the historic zinc mine on the Mountain View mine claim. A second well defined anomaly that is primarily lead with lesser anomalous zinc appears to roughly correlate with the location of the more easterly part of the drill holes completed to date. Each of these anomalies extends for 1400 metres northwest from the Mountain View mine claim. Additional geochemical data has been collected to the southeast of the Mountain View mine claims and is currently being evaluated.

 

About Lone Mountain

The Property is comprised of 217 claims covering approximately 4,000 acres and is held 100% by Nevada Zinc subject to certain terms as per the underlying agreements disclosed on SEDAR (press release June 24, 2014).

The Company maintains a QA/QC program on the analytical process. Additional assay results will be released when received and subsequent to passing QA/QC review.

 

Sample Preparation and Quality Control

Supervision and organization of reverse circulation drilling chip samples was undertaken by Nevada Zinc personnel.  Samples were collected at 5-ft intervals from a rotating wet splitter assembly attached to the drill rig. Chip tray samples were collected from the reject side of the wet splitter. The splitter was adjusted to produce 10-20 lbs of sample.  Samples were collected from the drill in cloth bags by employees of New Frontier Drilling under the supervision of Nevada Zinc personnel.  Samples were catalogued by Nevada Zinc geologists and stored in a secure location.  Certified reference standards were placed in the sample stream of each drill hole at random intervals.  Blank material was also inserted at random intervals.

 

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 or their Reno, NV facility.  A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS 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 standards. Reference standards used include OREAS-133b, OREAS-134b, OGGeo08, and CZN-4.  No issues were noted with analytical accuracy or precision. 

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

Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and has approved the scientific and technical content contained in this press release.

 

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. The Company’s existing projects are located in Nevada and the Yukon.

 For further information contact:                     

Nevada Zinc Corporation 
Suite 1500 - 4 King St. W.
Toronto, Ontario M5H 1B6 
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 may differ materially from those currently anticipated in such statements.