Toronto, Canada, October 20, 2016 – Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) is very pleased to announce that it will commence its Phase 5 drill program at the Company’s Lone Mountain zinc project (the “Project”) during the week of October 24, 2016.
Nevada Zinc President and CEO, Bruce Durham commented, “We are excited to restart drilling after the success we had in our Phase 4 drill program. We will continue drilling for a good portion of the remainder of this year as we aggressively move forward our highly prospective and unique zinc project to determine the extent of the mineralization, the overall average grade of the mineralization and amenability of the mineralization to possess both low development costs and low operating costs in any eventual zinc production scenario. When we are not drilling on the Project we will continue to be active on a number of fronts as we advance our understanding of how to best optimize this very promising project for our shareholders”.
The Phase 5 drill program will include a number of holes located at the discovery area where the last drill hole in that area, LM-16-56, assayed 6.99% zinc plus lead over a drill hole length of 100.58 metres/330 feet (press release August 11, 2016).
Drilling will continue to be carried out in the vicinity of the historic Mountain View mine site where drill holes completed during the Company’s Phase 4 drill program, in the very shallow, near surface portion of that property, intersected strong zinc mineralization between surface and roughly 50 metres. Very shallow drill hole results at the Mountain View mine site include sub cropping mineralization grading 6.14% zinc plus lead over 41.15 metres starting at a hole depth of 3.05 metres (press release August 11, 2016). Drilling at the Mountain View mine site also included high grade, very shallow intervals such as 12.38% zinc plus lead over 12.19 metres at a depth of only 28.98 metres in drill hole LM-16-52 (press release July 27, 2016) and 15.64% zinc plus lead over 15.24 metres at a depth of 19.81 metres (press release July 5, 2016).
The Phase 5 drill program will include the completion of 20 or more holes in the vicinity of the Mountain View mine site and the extensions of the mineralized zones intersected to-date in the discovery area near drill hole LM-16-56.
The accompanying plan map of the focus area includes a summary of the drill intersections from the most recent Phase 4 drill program. http://www.nevadazinc.com/lonemountainoverview/
Bruce Durham, P.Geo, is a qualified person, as that term is defined by National Instrument 43-101, and on behalf of the Company has approved the contents contained in this press release.
About Nevada Zinc
Nevada Zinc is a discovery driven mineral exploration company with a proven management team focussed on identifying unique mineral exploration opportunitiesthat can provide significant value to its shareholders. The Company’s existing zinc and gold projects are located in Nevada and Yukon, respectively. In Yukon, the Company is finalizing work on its programs at Livingstone, VIP and Goodman. Results are pending on all three of these projects.
The Lone Mountain Project
While the Company maintains its highly prospective Yukon gold properties and continues to advance them, the current focus of the Company is the exploration and advancement of the highly prospective Lone Mountain zinc projectcomprised of 224 claims covering approximately 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, leasesor purchase agreements to acquire 100% interests in all properties along the key structural trend for more than 3 kilometres.
For further information contact:
Nevada Zinc Corporation
Suite 1660, 141 Adelaide St. West
Toronto, Ontario M5H 3L5
Bruce Durham, President and CEO
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.