ZincX Resources Provides Exploration Update at Akie
FOR IMMEDIATE RELEASE
Contact: Investor Relations Wednesday, September 12, 2018
Phone (604) 684-2181 (No.2018-09-16)
ZincX Resources Provides Exploration Update at Akie
Vancouver, British Columbia, Canada – Wednesday, Se ptember 12, 2018 – ZincX Resources Corp.
(“ZincX Resources” or “the Company”, TSX Venture Exchange: ZNX) is pleased to announce that the
final drill hole on the flagship Akie property has been completed and the 2018 exploration program is now
finished. The exploration and drill crews have demobilized from site.
The Company previously announced a planned 2,500 me tre large-diameter HQ diamond drilling program
focused on high-priority targets along strike of the Cardiac Creek deposit and on the eastern Akie Gunsteel
panel.
2018 Drill Program Highlights
• First-ever drill test of the massive Sitka barite surface showing where previous channel sampling
in 2013 returned high-grade zinc-lead assay results
• Drill test of the south eastern strike extent of t he Cardiac Creek deposit beyond the current limits
of the resource model
• Drill test of the down-dip extent of the North Lea d Zone target where previous drilling intersected
extensive intervals of bedded pyrite mineralisation highly anomalous in zinc and lead
• Drill test of the projected Sitka mineralized targ et approximately 400 metres to the southeast of the
Sitka showing
• A total of 567 drill core samples, including QA/QC samples, were taken and split by rock saw and
submitted for assay
The Company completed 5 drill holes on various property targets that total 2,013 metres of diamond drilling.
Target DDH Length (m) # of samples*
Sitka A-18-144 309.68 81
Sitka A-18-145 198.12 62
SE Extension A-18-147 535.54 215
North Lead Zone A-18-148 721.46 163
Sitka Extension A-18-149 248.72 49
Totals 2,013.53 567
(*) Includes QA/QC samples
DDH A-18-149
This final drill hole of the program targeted the S itka Extension area located approximately 400 metre s
along strike southeast of the Sitka showing. The ho le displayed strong surface oxidation weathering do wn
to a depth of 66 metres, followed by a lower zone o f strong limonitic alteration and quartz veining wh ich is
interpreted to be the Sitka horizon. The lower zone sits at the faulted lower contact between Road Riv er
Group siltstone and Paul River fossiliferous limestone.
The Sitka horizon is marked by abundant blue-grey q uartz veining within a large, highly altered fault
structure intersected from 95 metres to 108 metres downhole. The veins appear to host weathered
sphalerite and narrow seams of galena although strong alteration has obscured much of the primary fabric.
The hole bottomed in soft shale of the Akie Formati on (Earn Group) which is characterized by scattered
light grey beds and calcareous, sandy debris flows that are commonly pyritic with bright brassy yellow pyrite
in narrow bands.
Geological logging and sampling is complete on all five drill holes and a total of 567 samples, includ ing
standard QA/QC samples, have been taken and submitt ed to Acme Analytical Laboratories (a Bureau
Veritas company) in Vancouver, BC.
Mr. Peeyush Varshney, CEO, commented, “We are very pleased to conclude another successful drill
campaign with the first-ever drill tests of several high-priority regional targets within the Akie pro perty. We
completed drilling on all selected targets and care fully managed resources to keep on schedule and on
budget. We look forward to announcing drill results over the coming several weeks.”
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 fabricated core racks with all-weather 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 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