ZincX Files Preliminary Economic Assessment Report on SEDAR for the Cardiac Creek (Akie Property) Zinc-Lead-Silver Deposit
FOR IMMEDIATE RELEASE
Contact: Investor Relations Thursday, August 2, 2018
Phone (604) 684-2181 (No.2018-08-01)
ZincX Files Preliminary Economic Assessment Report on SEDAR for
the Cardiac Creek (Akie Property) Zinc-Lead-Silver Deposit
Vancouver, British Columbia, Canada – Thursday, August 2, 2018 – ZincX Resources Corp. (“ZincX”
or “the Company”, TSX Venture Exchange: ZNX) is pleased to announce it has filed on SEDAR the
independent Preliminary Economic Assessment (“PEA”) report for its Akie Project located in British
Columbia, Canada.
The PEA results were previously disclosed in the Co mpany’s news release dated June 20, 2018 and
prepared in accordance with National Instrument 43- 101 Standards of Disclosure for Mineral Projects (“NI
43-101”). The PEA was authored by JDS Energy and Mining, Inc. (JDS) along with several sub-consultants
(Knight Piesold Ltd.; Sim Geological Inc.; Lorax En vironmental Services Ltd) who provided sections on
hydrology, mine closure, mine waste and water management.
The report, which is titled "NI 43-101 TECHNICAL RE PORT AKIE PROJECT BRITISH COLUMBIA,
CANADA" with an effective date of June 20, 2018 and report date of August 1, 2018, can be found under
the Company’s profile at www.sedar.com and on the Company website.
As previously reported, the highlights of the PEA d emonstrate positive and robust results for the 100%
owned zinc-lead-silver Cardiac Creek deposit located on the Akie property.
Economic Highlights:
• Estimated pre-tax NPV 7% of $649M ($401M after-tax)
• Estimated pre-tax 35% IRR (27% after-tax)
• Estimated pre-tax 2.6 year payback (3.2 year payback after-tax)
• PEA contemplates a 4,000 tonne per day underground mine and 3,000 tonne per day
concentrator with an 18-year mine life
• Total mine production of 25.8 million tonnes of which 19.7 million tonnes are processed
• Initial CAPEX (excluding contingency) estimated at $256.7M; total of $302.3M including $45.7M in
contingency
• Payable metal production over life-of-mine is 3,268M lbs of zinc & 362M lbs of lead
• Average annual production of 178M lbs of payable zinc and 20M lbs of payable lead at an all-in
operating cost of $102.38/tonne milled
• Total payable metal LOM is $3,960M; or $201/tonne milled
• Saleable zinc and lead concentrates with no penalty elements (clean concentrate )
• There are no net smelter royalties owed ( 0% NSR )
• Opportunities for continued refinement through additional studies including upgrading lead and
silver recoveries and reducing operating costs
• The Cardiac Creek deposit remains open at depth with potential to increase mine life
• Akie and Kechika Regional combined offer district-scale potential for new discoveries
Peeyush Varshney, President and CEO, commented: “We are pleased to provide the full PEA technical
report which clearly outlines the detailed mine pla n for development of the Cardiac Creek deposit. Th e
PEA report provides a solid foundation to drive the project forward through to a Preliminary Feasibility Study
(PFS) and mine permitting.”
Qualified Persons
Various personnel at JDS or their sub-consultants a re Qualified Persons and responsible for portions o f
this news release; and are identified as follows: M ichael Makarenko (P.Eng.) mining; Richard Goodwin
(P.Eng.) mining; Richard Boehnke (P.Eng.) infrastru cture/transportation; Kelly McLeod (P.Eng.) mill
processing; and Jim Fogarty (P.Eng. - Knight Piésol d) tailings disposal. A full list of Qualified Pers ons that
contributed to the PEA is summarized in the NI 43-101 technical report.
The PEA is considered preliminary in nature and inc ludes mineral resources, including inferred mineral
resources that are considered too speculative geologically to have the economic considerations applied to
them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral
reserves have not yet demonstrated economic viabili ty. Due to the uncertainty that may be attached to
mineral resources, it cannot be assumed that all or any part of a mineral resource will be upgraded to
mineral reserves. Therefore, there is no certainty that the results concluded in the PEA will be realized.
The Akie Zn-Pb-Ag Project
The 100% owned Akie property is situated within the Kechika Trough, the southernmost area of the
regionally extensive Paleozoic Selwyn Basin and one of the most prolific sedimentary basins in the wor ld
for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by ZincX Resources (f ormerly Canada Zinc Metals Corp) since 2005 has
identified a significant body of baritic-zinc-lead SEDEX mineralization known as the Cardiac Creek deposit.
The deposit is hosted by siliceous, carbonaceous, fine grained clastic rocks of the Middle to Late Devonian
Gunsteel Formation.
With additional drilling completed in 2017, the Com pany has updated the estimate of mineral
resources at Cardiac Creek, as follows:
5% Zinc Cut-Off Grade Contained Metal:
Category Tonnes
(million) Zn (%) Pb (%) Ag (g/t) Zn (Blbs) Pb (Blbs) Ag (Moz)
Indicated 22.7 8.32 1.61 14.1 4.162 0.804 10.3
Inferred 7.5 7.04 1.24 12.0 1.169 0.205 2.9
In addition to the Akie Project, the Company owns 100% of eight of eleven large, contiguous property blocks
that comprise the Kechika Regional Project includin g the advanced Mt. Alcock prospect. The Kechika
Regional Project also includes the Pie, Yuen and Ci rque East properties within which the Company
maintains a significant 49% interest with partners Teck Resources Limited (TSX: TECK.B) and Korea Zinc
Co. Ltd. These properties collectively extend north west from the Akie property for approximately 140
kilometres covering the highly prospective Gunsteel Formation shale; the main host rock for known SEDEX
zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. These projects are located
approximately 260 kilometres north northwest of the town of Mackenzie, British Columbia, Canada.
Ken MacDonald P.Geo., Vice President of Exploration for the Company, is the designated Qualified Person
as defined by National Instrument 43-101 and is res ponsible for the technical information contained in this
release.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
ZINCX RESOURCES CORP.
“PEEYUSH VARSHNEY”
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN