ZincX Resources Provides Exploration Update at Akie
FOR IMMEDIATE RELEASE
Contact: Investor Relations Tuesday, August 28, 2018
Phone (604) 684-2181 (No.2018-08-15)
ZincX Resources Provides Exploration Update at Akie
Vancouver, British Columbia, Canada – Tuesday, August 28, 2018 – ZincX Resources Corp. (“ZincX
Resources” or “the Company”, TSX Venture Exchange: ZNX) is pleased to provide an update on drilling
activities at the flagship Akie Property. The Compa ny previously announced a planned 2,500 metre large -
diameter HQ diamond drilling program that focused on high-priority targets along strike of the Cardiac Creek
deposit and on the eastern Akie Gunsteel panel.
2018 Drill Objectives:
• Drill test the southeastern strike extent of the C ardiac Creek deposit beyond the current limits of
the resource model.
• Drill test the down-dip extent of the North Lead t arget where previous drilling intersected extensive
intervals of bedded pyrite mineralisation and a thi n massive sulphide lens that are both highly
anomalous in zinc and lead. The drill targeting is guided by a new facies model developed from
the mineralisation on the Akie and Mt. Alcock properties.
• Shallow drill targets at the Sitka showing to test the Zn-Pb-barite mineralization outcropping at
surface where previous channel sampling in 2013 returned high-grade assay results.
The Company has completed four drill holes on various property targets that total 1,765 metres of diamond
drilling.
Target DDH Length (m) # of samples*
Sitka - Completed A-18 -144 309.68 81
Sitka - Completed A-18 -145 198.12 62
SE Extension - Completed A-18 -147 535.54 215
North Lead - Completed A-18 -148 721.46 163
Sitka Extension – Drilling has commenced A-18 -149 TBD TBD
Total meterage
1,765
(*) Includes QA/QC samples, TBD: To Be Determined
DDH A-18-148
This drill hole targeted the North Lead Zone locate d approximately 2.5 kilometres to the northwest of the
Cardiac Creek deposit. The Zone is characterized by mineralization encountered in drill holes A-13-104, A-
10-68 and A-10-76. These holes each encountered thi ck (>125 metres of apparent thickness) intervals of
laminar to thickly bedded pyrite mineralization int erbedded with siliceous black shale of the Gunsteel
Formation. Results from these holes returned variab ly anomalous zinc with individual values greater th an
2% suggesting that improving zinc grades could be e ncountered down-dip based on lithological and
updated facie models. Drill hole A-18-148 represen ts an approximate 200 metre down-dip step-out from
the adjacent holes and was drilled to a depth of 72 1.46 metres. The hole has been logged and results a re
currently pending.
Sitka Extension/Silver Anomaly
The drill has now moved to the Sitka Extension targ et area located approximately 400 metres strike
southeast of the Sitka showing. The hole is intended to test the Sitka horizon encountered in A-18-144 and
A-18-145 plus also test a large surface multi-eleme nt soil anomaly first identified in a 2013 geochemi cal
survey. The soil survey defined a large, northwest trending Pb-Zn-Ba±Ag soil anomaly prominent on the
eastern side of Silver Creek in an area which strad dles the eastern Gunsteel panel. The multi-element
anomaly measures roughly 2.15 km long by about 450 m wide; and borders the contact between Gunsteel
shale and an eastern band of Kwadacha limestone. Within the anomaly and nearer to the eastern limit is a
very pronounced silver anomaly that measures 650 m long and is marked by a series of silver values tha t
range from 3,500 to over 15,000 ppb. This anomaly i s coincident on its eastern edge with the Pb-Zn-Ag
mineralized massive barite Sitka occurrence.
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 Company 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 the Cardiac Creek PEA.
The PEA is considered preliminary in nature and includes 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 re serves have not yet demonstrated economic viability. 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