Nevada Zinc Continues to Intersect High Grade Zinc With 17.49% Zinc Over 22.86 Metres

TORONTO, Jan. 10, 2017 (GLOBE NEWSWIRE) — Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V:NZN) is pleased to report drill hole assay results for the first 9 drill holes from its Phase 5 drill program at the Company’s Lone Mountain project  (the “Project”).

The Company has successfully completed its Phase 5 program which included a total of 24 drill holes, completion of additional surface geological mapping and prospecting, completion of some limited geophysical test work and also completion of some additional specific gravity testing of mineralized material. The Company anticipates receipt of assay results for the remaining 15 drill holes over the course of this month.

Nevada Zinc President and CEO, Bruce Durham commented, “these initial Phase 5 assay results which include some holes from each of the Discovery and Mountain View Mine areas extend the limits of the known areas of mineralization. We are very encouraged by the results in this group of drill holes and we look forward to receiving the remainder of the assay results. The drilling we are doing at this point has been focused in these two areas of mineralization as we continue to fill in some gaps in the mineralized  bodies as well as extend the overall limits of the mineralized zones.” 

Highlights

  • Drill hole LM 16-71 intersected significant high grade zinc-lead mineralization over a 22.86 metre interval from 88 metres downhole grading 17.49% zinc and 1.23% lead (18.72% zinc+lead) southwest of the historic mine workings on the Mountain View Mine property.
  • Drill holes LM-16-63, 64, and 65 extend the Discovery zone mineralization down dip in a north to northeasterly direction.
  • Drill hole LM-16-64 intersected a broad zone of zinc mineralization from 184.4 metres downhole that averaged 3.99% zinc and 0.21% lead over 53.34 metres, including a 30.48 metre interval that averaged 5.99% zinc.
  • The Discovery zone zinc mineralization remains untested at depth to the northeast beyond holes LM-16-63, 64 and 65.
  • All zinc and lead mineralization intersected to date on the Project is non-sulphide type mineralization (important in that the mineralization is not a mixture of sulphide and non-sulphide which would complicate the extractive metallurgy process).

Drill Hole Summary Information

RC Hole ID NLM-16-63        
Easting 563089        
Northing 4385381        
Az. 120 degrees      
Dip -90 degrees      
Depth (m) 252.98 metres      
           
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
182.88 185.93 3.05 3.09 0.34 3.43
and
228.60 237.74 9.14 5.21 0.89 6.10
           
RC Hole ID NLM-16-64        
Easting 563114        
Northing 4385368        
Az. 120 degrees      
Dip -90 degrees      
Depth (m) 271.27 metres      
           
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
184.40 237.74 53.34 3.99 0.21 4.20
including
207.26 237.74 30.48 5.99 0.06 6.05
including
233.17 237.74 4.57 21.43 0.08 21.51
           
RC Hole ID  NLM-16-65        
Easting 563140        
Northing 4385352        
Az. 210 degrees      
Dip -80 degrees      
Depth (m) 237.74 metres      
           
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
198.12 213.36 15.24 3.56 0.01 3.57
including
205.74 213.36 7.62 5.35 0.01 5.36
           
RC Hole ID NLM-16-68        
Easting 563294        
Northing 4384961        
Az. 30 degrees      
Dip -50 degrees      
Depth (m) 60.96 metres      
           
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
10.67 16.76 6.10 3.08 0.03 3.11
           
RC Hole ID NLM-16-69        
Easting 563295        
Northing 4384959        
Az. 160 degrees      
Dip -90 degrees      
Depth (m) 109.73 metres      
           
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
71.63 80.77 9.14 6.94 3.56 10.50
including
73.15 76.20 3.05 16.68 9.90 26.58
           
RC Hole ID NLM-16-71        
Easting 563275        
Northing 4384928        
Az. 340 degrees      
Dip -45 degrees      
Depth (m) 143.26 metres      
           
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
88.39 111.25 22.86 17.49 1.23 18.72
including
89.92 102.11 12.19 27.61 2.05 29.66

Note: Hole LM-16-66, 70 – no significant results
Note: Hole LM-16-67 results pending, LM-16-72-86 results pending

Sample Preparation and Quality Control

Supervision and organization of reverse circulation drilling chip samples was undertaken by Company 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 Company 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, 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 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 project  comprised 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, leases  or purchase agreements to acquire 100% interests in all properties along the key structural trend for more than 4 kilometres.

An updated map showing the location of the Phase 5 drill holes is available on the Company’s website: www.nevadazinc.com

About Nevada Zinc

Nevada Zinc is a discovery driven mineral exploration company with a proven management team focussed on identifying unique mineral exploration opportunities  that can provide significant value to its shareholders. The Company’s existing zinc and gold projects are located in Nevada and Yukon, respectively.

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 may differ materially from those currently anticipated in such statements.

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