IZN News 2023-06 Inzincmining.com
TSX.V: IZN
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IZN News 2023-06
Inzincmining.com
August 22, 2023 News Release 2023-06
InZinc Identifies Rare Earth Elements with Nickel-Cobalt-Copper Discovery at Keel Red and
Commences Drilling at Indy Project, BC
Vancouver, BC – InZinc Mining Ltd. (TSX-V: IZN) (“InZinc” or the “Company”) is pleased to report the identification
of rare earth elements associated with the nickel-cobalt-copper discovery at Keel Red in 2022 and announce
commencement of the fully funded 2023 drill program at the Indy p roject (100% interest) (“Indy” or the “Project”)
located 100 kilometres (km) southeast of Prince George in central British Columbia.
Rare Earth Elements – Discovery at Keel Red
Subsequent to the discovery of nickel-cobalt-copper mineralization at Keel Red in 2022 (news release January 25,
2023), the mineralized 27.1 m interval of diamond drill hole IB22 -020 has been a nalyzed for rare earth element
(REE) content. In drill hole IB22-020, the entire 27.1 m of buried oxide material starting at 47.3 m downhole has
returned 363 ppm total rare earth oxides (TREO), (Table 1).
In addition, and within the above 27.1 m interval:
• The heavy rare earth oxides (HREO) comprise approximately 60% of the average TREO content over the
27.1 m interval.
• A higher grade REE bearing downhole interval from 61.0 m to 68.0 m averages 529 ppm TREO over 7.0 m.
• The highest REE bearing interval, from 66.0 m to 67.0 m downhole, returned 784 ppm TREO over 1.0 m.
The red, clay-rich host containing the nickel-cobalt-copper and REE mineralization at Keel Red, with its relatively
high HREO content, distinguishes Keel Red from the more common REE bearing occurrences known elsewhere in
British Columbia. Interpretation and e xtension of the shallow Keel Red mineralization will be a priority during the
2023 drill program.
Table 1: Indy Project – Keel Red – 2022 Drill Hole Intersections including Rare Earth Metals
* Previously released (news release January 25, 2023).
** Total rare earth oxides include oxides of 15 heavy and light rare earth elements including yttrium, as defined by the USGS, 2018.
Standard element to oxide conversion factors have been used in the calculation of rare earth oxide values from elemental assa y values.
For the TREO composite results tabled above, MSA Labs of Langley, BC conducted multi-element determination of the mineral samples (46 continuous,
downhole) using a lithium borate fusion and inductively coupled plasma -mass spectroscopy (ICP-MS) finish (laboratory coded as IMS-300).
Note: Drill intervals represent apparent width. True widths are unknown.
Drill Hole Interval From To Zinc* Nickel* Copper* Cobalt* TREO**
(includes Y)
Depth
Below
Surface
(m) (HQ) (m) (m) (m) (%) (%) (%) (ppm) (ppm)
IB22-020 27.08m 47.25 74.33 0.67 0.13 0.06 163 363 30
includes 7.75m 47.25 55.00 0.66 0.14 0.11 154 433
6.00m 58.00 64.00 0.93 0.17 0.09 280 427
TSX.V: IZN
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IZN News 2023-06
Inzincmining.com
2023 Priority Drill Targets
The 2023 drill program includes plans for between 8 to 12 reverse circulation drill holes over approximately 600 m
of the Keel Red and Echo North trends in the north ern area of the Main Trend (Figure 1). Other targets will be
considered for drilling, time permitting. The program is anticipated to be completed by late September.
Figure 1: Indy Project – 2023 Targets
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Nickel – Cobalt – Copper and Rare Earth Element Targets
• Keel Red: In 2022, diamond drill hole IB22-020 intersected 27.1 m of buried red clay rich material starting
at 47.3 m downhole and averaging 0.67% zinc and 0.13% nickel . The upper part of the core interval (from
47.3 m to 55.0 m) also returned 0.11% copper over 7.8 m. Additionally, the 27.1 m interval returned cobalt
content averaging 163 ppm including values up to 962 ppm (0.10%) over a 1 .0 m core length . Further
analysis returned 363 ppm TREO over the 27.1 m interval including higher grades of up to 784 ppm TREO
over 1.0 m.
• Fox Ni: The new Fox Ni target, located 550 m northwest of Keel Red, comprises a 350 m long high contrast
geochemical target (>95 percentile), coincident nickel-cobalt-copper in soil signal.
• TJ: The TJ target, identified in 2022 and located 425 m west of Keel Red, comprises a 500 m lon g, high
contrast (>95 percentile), coincident nickel-cobalt-copper in soil signal.
• Delta Ni: The Delta Ni target, identified and located 100 m east of the Delta Horizon, comprises a 600 m
length of high contrast (>95 percentile), coincident nickel-cobalt-copper in soil signal.
Multi-Metal Targets
• Echo North: The 1.9 km long Echo target is a continuous high contrast, multi -element (Zn, Pb, Ba
signatures) soil geochemical anomaly discovered in 2021. Echo North comprises an area 400 m by 250 m
defined, principally, by its strong Zn-Pb-Ba in soil signatures. Additional strong nickel -cobalt-copper surface
geochemical signals also occur across the western flank of the Echo North target and are included for drill
testing in 2023.
About InZinc
InZinc is an active explorer and, through its Indy project (100% interest), equity and royalty interests, is exposed to
a diverse portfolio of active North American base metals and precious metals projects. The Company has
discovered and continues to explore for expansion of near surface zinc, nickel-cobalt-copper and rare earth element
mineralization at the easily accessible Indy project located in a new and under-explored mineral region of central
British Columbia, Canada. A Canadian subsidiary of South32 (ASX, LSE, JSE) became a major tenure holder in
the belt by staking approximately 200 km2 of adjacent claims in late 2021. InZinc has a significant equity investment
in American West Metals (ASX) which is advancing multiple North American base metals projects. In addition,
InZinc has a production royalty and will receive 50% of the revenue (NSR) from the sale of indium mined from
American West’s West Desert project.
InZinc Mining Ltd.
Wayne Hubert
____________
Chief Executive Officer For further information contact :
Phone: 604.687.7211 Joyce Musial
Website: www.inzincmining.com Vice President, Corporate Affairs
Phone: 604.317.2728
Email: [email protected]
Qualified Person
Brian McGrath, B.Sc., P.Geo. a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral
Projects, has approved the technical content of this news release.
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Cautionary Note Regarding Forward-Looking Statements
This news release contains forward -looking statements and forward-looking information (collectively, "forward-looking statements") within the
meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward -looking
statements. Forward-looking information includes, but are not limited to, statements that address activities, events or developments that the
Company expects or anticipates will or may occur in the future . Although the Company believes that such statements are reasonable, it can
give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believe”,
“expect”, “anticipate”, “intend”, “estimate”, “plan”, “design”, “postulate” and similar expressions, or are those, which, by their nature, refer to future
events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results, performance,
or actions and that actual results and actions may differ materially from those in forward -looking statements as a result of various factors,
including, but not limited to, those risks and uncertainties disclosed in the Company's Management’s Discussion and Analysis for the year ended
December 31, 2022 and for the three months ended March 31, 2023 filed with certain securities commissions in Canada and other information
released by the Company and filed wit h the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be
accessed via www.sedar.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.