ZincX Resources receives LiDAR survey datasets from the Akie and Mt. Alcock Properties
FOR IMMEDIATE RELEASE
Contact: Investor Relations Tuesday, November 15, 2022
Phone (604) 684-2181 (No.2022-11-07)
ZincX Resources receives LiDAR survey datasets from the
Akie and Mt. Alcock Properties
Vancouver, British Columbia, Canada – Tuesday, November 15, 2022 – ZincX Resources Corp.
(“ZincX” or the “Company”, TSX Venture Exchange: ZNX, US: ZNCXF, FRA: M9R ) is pleased to
announce that it has received the high-resolution LiDAR datasets from the 2022 airborne survey flown over
the Akie and Mt. Alcock properties.
Eagle Mapping Ltd. of Langley, British Columbia has successfully transferred the high-resolution datasets
from the Mt. Alcock and Akie properties to the Company. These data include a high-resolution 0.5m Digital
Elevation Model (DEM) and digital surface model (DSM), a bare earth point dataset, and a fully detailed
topographical dataset including contours. The Company is expecting delivery of the final report on the
survey in the coming weeks.
The Akie and Mt. Alcock properties remain high-priority exploration targets for the Company and the
datasets from this survey will be used extensively in future exploration programs to assist in a variety of
exploration activities ranging from geological mapping and interpretation, exploration drill hole planning and
targeting, to the proposed geophysical ground gravity surveys over the Cardiac Creek deposit on the Akie
property; and the Zn-Pb-Ag rich barite showing present on the Mt. Alcock property located approximately
40 kilometres to the northwest of the Akie Property.
The data is also expected to provide a solid foundation for any future surface infrastructure (e.g., road and
bridge works, site infrastructure), engineering design plans (e.g., planned portal site, waste rock dump and
sedimentation ponds), and geotechnical programs (e.g., geotechnical drill holes, trail construction), related
to the development of the Cardiac Creek deposit as outlined in the Company’s 2018 preliminary Economic
Assessment.
The two properties were flown in grid pattern along a series of parallel lines while maintaining vertical and
horizonal accuracies. The survey area of the Akie property consists of 97.6 km2 and the Mt. Alcock property
consists of 91.2 km2.
The Company has previously engaged Eagle Mapping Ltd. on two other occasions; first in 2006 in order to
collect a detailed set of orthophotos and provide detailed topographical data over the prospective areas of
the Akie property to assist exploration efforts during the initial stages of drilling on the Cardiac Creek
deposit; and again in 2011 to provide LiDAR coverage over a very narrow swath of the property that covered
the proposed surface works including road construction to extend the Akie Mainline FSR, the waste rock
dump, and the planned portal site.
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 world
for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by ZincX Resources 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.
The Company updated the estimate of mineral resources at Cardiac Creek in 2018, 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 and 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. Key parameters for the PEA are as follows:
Parameter Base Case1
Tonnes Mined 25.8 Mt
Mined Head Grades 7.6% Zn; 1.5% Pb; 13.08 g/t Ag
Tonnes Milled 19.7 Mt
Milled Head Grades (after DMS2 upgrade) 10.0% Zn; 1.9% Pb; 17.17 g/t Ag
Total Payable Metal (LOM) $3,960M3
Initial CAPEX $302.3M including $45.7M contingency
q $617.9M including $58.5M contingency
All-in Total OPEX $102.4 per tonne milled
Pre-Tax NPV7% $649M
Pre-Tax IRR 35%
Pre-Tax Payback 2.6 years
After-Tax NPV7% $401M
After-Tax IRR 27%
After-Tax Payback 3.2 years
1. The base case used metal prices are calculated from the 3 year trailing average coupled with two year forward projection of the
average price; and are: US$1.21/lb for zinc, US$1.00/lb for lead and US$16.95 for silver. A CDN$/US$ exchange rate of 0.77 was
used. The NPV discount rate is 7%. 2. DMS = dense media separation. 3. All dollar amounts expressed in Canadian dollars.
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 reserves 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 including the advanced Mt. Alcock prospect. The Kechika
Regional Project also includes the Pie, Yuen and Cirque East properties which the Company maintains a
significant 49% interest with partners Teck Resources Limited (TSX: TECK.B) and Korea Zinc Co. Ltd
holding 51%. These properties collectively extend northwest 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 responsible 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