Pasinex to increase Pinargozu production to 50 tpd

Feb 18, 2015

PASINEX RESOURCES ADDS DRILL RIGS AND MANPOWER TO RAMP UP PRODUCTION AT PINARGOZU; PREPARING TO DRILL NEW TARGETS

Pasinex Resources Ltd.’s Pinargozu project is progressing well with drilling and mining by Horzum A.S. (a 50/50 joint venture between Pasinex and Akmetal A.S., a Turkish mining company) from an existing adit, paving the way for a production ramp-up from about 25 tonnes per day to 50 tonnes per day of direct shipping zinc material. Average grades continue to yield + 30% zinc. Further zinc product sales are imminent.

“We recently engaged a structural geologist to review our data to provide us with a clearer understanding of the structurally controlled zinc mineralization associated with karstic caves along fractures and faults at Pinargozu. This is assisting us in optimization of drill targets on Pinargozu. Three (3) drill rigs are now on site to drill these zinc targets from both surface and underground stations. Our short-term goal is to double the production capacity at the Pinargozu mine by the end of the second quarter of 2015,” commented Steven Williams, President and CEO of Pasinex. “These zinc oxide structures are irregular and structurally complex so they require more drilling than MVT or VMS type structures and as such not every hole will hit mineralization.”

EXPLORATION

Exploration on the Akkaya property, which is located immediately north of Pinargozu and has never before been drilled, has identified multiple high priority targets for which drill pads are currently being prepared. These targets were revealed through analysis of structural geology, ground penetrating radar (“GPR”) and extensive soil and rock chip sampling. The Akkaya property is situated approximately 1.5 km north of Pinargozu’s mining operation. Diamond drilling will begin in the next month and is scheduled to run for several months.

FUTURE DRILL RESULTS

Assay results from drilling at Pinargozu and Akkaya will be disclosed in future news releases covering small batches of holes in each news release. Clinton Smyth, P.Geo. and VP Exploration for Pasinex, is the qualified person as defined by National Instrument 43-101 who has verified the written disclosure of all scientific and technical information in this news release.

http://pasinex.com/press-releases/