ZincX Resources Announces Positive Drill Results From the Sitka Showing
FOR IMMEDIATE RELEASE
Contact: Investor Relations Thursday, Sept. 27, 2018
Phone (604) 684-2181 (No.2018-09-17)
ZincX Resources Announces Positive Drill Results
From the Sitka Showing
Vancouver, British Columbia, Canada – Thursday, Sep t. 27, 2018 – ZincX Resources Corp. (“ZincX
Resources” or “the Company”, TSX Venture Exchange: ZNX) is pleased to announce assay results
from the first two diamond drill holes of the 2018 exploration campaign which targeted the untested Si tka
Showing.
The Sitka Zn-Pb massive barite showing , discovered in 2013, represents a new and untested base
metal target on the Akie property. The showing is hosted within the eastern thrust panel of prospective
Gunsteel Formation stratigraphy located on the east ern side of the Akie property, approximately 4
kilometres east of the Cardiac Creek deposit . The showing is the first known occurrence of
mineralisation on the eastern thrust panel of the property.
The first two holes of the program totaled 508 metr es and tested the down-dip extent of the Zn-Pb-bari te
mineralisation that outcrops at surface. Previous c hannel sampling in 2013 on the showing returned
significant Zn and Pb assay results at or in the immediate vicinity of the showing.
Drill hole A-18-144 was a steeply angled hole targeting the down-dip extension of the massive mineralized
barite body seen at surface. Drill hole A-18-145 te sting the same zone up-dip of the intercept in dril l hole
A-18-144. The showing is situated along the highly prospective contact between the Earn Group (Gunsteel
Formation shale) and Silurian Siltstone.
DDH A-18-144
Drill hole A-18-144 intersected intermittent sphalerite-bearing , smoky blue-grey quartz veins within both
the Road River Silurian Siltstone and underlying Kw adacha Limestone, from a downhole depth of 173.50
to 200.00 meters. The veining is concentrated, loca lly hosting abundant coarse-grained red-brown-tan
sphalerite . There appears to be two types of veining present, post-mineral white carbonate veins that form
at the margins of, or cross-cut, the sphalerite-bearing blue-grey quartz veins. There is scattered sphalerite
mineralisation present throughout the limestone, from 200 to 216 metres, within fractures and stringers.
Two discrete intervals returned promising zinc results . The upper interval from 172.7 to 174.6 metres
returned 3.5% Zn over a width of 1.9 metres, including 5.8% Zn over a width of 1.0 metre. A lower interval
from 196.7 to 201.8 metres returned 3.8% Zn over a width of 5.1 metres, including 11.3% Zn over 1.0
meter. Results are tabulated below.
DDH A-18-145
Hole A-18 145 also intersected sphalerite-bearing , smoky blue-grey quartz veins within the Silurian
Siltstone of the Road River Group. The mineralisati on is characterized by quartz-carbonate veins that are
variably distributed from 148.1 to 176.1 metres. The mineralised veins are subsequently crosscut by a later
generation of quartz-carbonate veins. There are three distinct varieties of sphalerite within these veins:
coarse red sphalerite, brown/tan sphalerite (genera lly occurring interstitial to or at the margins of red
sphalerite), and isolated grains of pale-yellow sph alerite. The best interval returned 3.7% Zn over a width
of 3.50 metres from a downhole depth of 168.1 to 17 1.5 metres, including 11.1% Zn over a width of 0.9
metres. Results are tabulated below.
The drilling has traced sphalerite-bearing vein mineralisation approximately 100 metres below surface. The
mineralization intersected at depth below the Sitka target appears to be vein-related and does not app ear
to be associated with the Sitka barite-sphalerite-g alena vein/structure observed at surface. The lead and
silver results are negligible so far in limited drilling, and remain unexplained when compared to the channel
sample results from surface sampling in 2013. More work is required to understand the relationship of the
massive barite structure at surface and the zinc mineralized quartz vein clusters at depth.
Table of 2018 Drill Results
Drill Hole From (m) To (m) Apparent Width (m)* Zn ( %)
A-18-144 172.72 174.59 1.87 3.54
incl 172.72 173.72 1.00 5.76
186.51 187.15 0.64 1.53
196.70 201.78 5.08 3.79
incl 196.70 200.00 3.30 5.73
incl 199.01 200.00 0.99 11.33
A-18-145 148.13 148.76 0.63 7.51
159.40 159.80 0.40 3.35
163.37 163.83 0.46 4.65
168.05 171.55 3.50 3.72
incl 168.05 168.91 0.86 11.09
175.09 175.69 0.60 2.36
*True width unknown at this time
Peeyush Varshney, President and CEO of the Company, commented; “We are pleased with the first-ever
drill results from the Sitka target; a promising zinc showing on the eastern panel of the Akie property .
More work is certainly warranted to determine orien tation of veining, relationship to the surface show ing,
true thickness and structural effects. We look forw ard to continuing work at Sitka to more thoroughly
examine the zinc mineralization potential.”
QA/QC
ZincX Resources has implemented a rigorous quality assurance/quality control program at the Akie property
using best industry practices. All drill core is logged for geology, structure, veining, alteration, mineralisation,
and geotechnical parameters. Sections of sulphide m ineralisation are marked for sampling by a geologis t
and a series of standards, duplicates and blanks are inserted into the sample stream for QA/QC purposes.
Prior to the cutting of samples, all core boxes are photographed for due diligence and record keeping
purposes. The samples are split by a diamond saw, t agged and bagged and forwarded by bonded carrier
to Acme Labs (a Bureau Veritas Group Company) of Vancouver, BC, for analysis. Documentation recording
the chain of custody is kept for each shipment.
Drill core samples are prepared for analysis using the PRP70-250 sample preparation method. Assays for
zinc, lead and silver are obtained using AQ270 anal ytical package with sample digestion using aqua reg ia
solution followed by ICP-ES and ICP-MS analyses. Ba rium content is determined by LF301-Ba analytical
package using LiBO2/LiB4O7 fusion and ACS grade nit ric acid followed by ICP-ES analysis. Overlimit
values of lead and zinc are rerun using AQ371 analytical package using a hot aqua regia solution followed
by ICP-ES analyses. Specific gravity is measured on each drill core sample from the pulverized pulps using
SPG01 analytical package. Check assays on drill pul ps are routinely conducted by ALS Minerals of North
Vancouver, BC with their OG46 analytical package us ing aqua regia digestion and ICP-ES analysis. All
remaining drill core is stored at the Akie explorat ion camp in steel fabricated core racks with all-we ather
metals roofs.
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 (B lbs) Pb (B lbs) Ag (M
oz)
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
The Company announced robust positive results from the 2018 Preliminary Economic Assessment (PEA).
The PEA envisages a conventional underground mine a nd concentrator operation with an average
production rate of 4,000 tonnes per day. The mine will have an 18-year life with potential to extend the life-
of-mine (LOM) through resource expansion at depth.
Pre-Tax After-Tax
NPV 7% IRR NPV 7% IRR
$649M 35% $401M 27%
The base case parameters for the PEA used US$1.21/lb Zinc, US$1.00/lb Lead, and US$16.50/oz Silver
See ZNX news releases from June 20 th , 2018 for important disclosures with respect to th e Cardiac Creek
PEA.
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.
Kechika Regional Project
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. Mike Makarenko P.Eng, JDS Energy and Mining, is the designated Qualified Person as defined by
National Instrument 43-101 and is responsible for the PEA 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