Pasinex opens 3rd adit, doubles production at Pinargozu
PASINEX RESOURCES OPENS A THIRD ADIT AND DOUBLES MINE PRODUCTION AT PINARGOZU
Pasinex Resources Ltd. has opened a new third adit at the Pinargozu mine, 50 per cent owned through the Horzum AS joint venture in Turkey. The new adit has a length of 120 metres and allows access to deeper-lying mineralization at the 670-metre level and below. Future exploration and infill drilling programs will also make use of this new underground development, which is situated proximally to a number of high-priority exploration targets. The new adit’s larger dimension can accommodate the use of bigger equipment. As a result, production at the mine has doubled from an average of around 60 tonnes per day to an average of around 120 tonnes per day in the past weeks. The material being mined is all DSO (direct shipping ore) or direct shipping mineralization. The average grade in the first half of 2016 for this material was about 34 per cent zinc. Production statistics from lot sales in 2016 are shown in an attached table.
Steve Williams, president and chief executive officer of Pasinex Resources, commented: “This is a big step forward for our mine. We now have three producing adits into the side of the mountain and this has enabled us to significantly increase the production at Pinargozu. In August, the mine output reached a total of 4,000 tonnes of high-grade zinc mineralization (130 tonnes per day). About half of August’s production was high-grade sulphide ore from the new adit. As reported earlier, the total production up to the end of July this year was 9,300 tonnes, compared to a total of 11,000 tonnes in the whole year of 2015. With the production coming out of the new adit, management is confident that the production will sustain a minimum level of 120 tonnes per day over the course of the second half of 2016. On an annualized basis, Pinargozu production is targeting to reach about 25 million pounds of zinc production this year, compared to 10.4 million pounds sold in 2015. We are pleased to demonstrate the rapid expansion at Pinargozu as we develop this important zinc mine.”
HORZUM AS -- PINARGOZU MINE PRODUCTION SALE SUMMARY
Wet
Date of weight Moisture
Lot No. sale Type (tonnes) (%)
1 24/04/2015 Oxide 5,002.100 6.26
2 05/05/2015 Oxide 1,453.000 10.39
3 09/07/2015 Oxide 4,760.000 8.76
4 09/09/2015 Oxide 1,215.380 7.87
5 06/11/2015 Oxide 1,478.310 5.12
6 22/12/2015 Oxide 1,497.380 6.65
7 28/01/2016 Oxide 1,556.560 6.83
8 02/03/2016 Oxide 1,842.500 7.81
9 30/03/2016 Sulphide 716.200 1.64
10 07/04/2016 Oxide 1,685.620 7.68
11 12/05/2016 Oxide 1,264.080 7.75
12 09/06/2016 Oxide 1,238.040 7.51
13 17/06/2016 Oxide 995.780 7.50
Dry Cum wet Cum dry
weight weight weight Assay
Lot No. (tonnes) (tonnes) (tonnes) (% Zn)
2014/ 2014/
2015 2015
total total
1 4,688.911 5,002.100 4,688.911 33.08
2 1,302.000 6,455.100 5,990.911 31.56
3 4,342.830 11,215.100 10,333.741 31.21
4 1,119.760 12,430.480 11,453.501 35.20
5 1,402.555 13,908.790 12,856.056 38.09
6 1,397.789 15,406.170 14,253.845 35.19
2016 2016
1st half 1st half
7 1,450.295 1,556.560 1,450.295 37.23
8 1,698.551 3,399.060 3,148.846 35.06
9 704.454 4,115.260 3,853.300 49.42
10 1,556.234 5,800.880 5,409.534 32.00 (i)
11 1,166.126 7,064.960 6,575.660 33.27 (i)
12 1,145.071 8,303.000 7,720.731 31.50 (i)
13 921.096 9,298.780 8,641.827 31.12 (i)
(i) Initial provisional assay
In the first half of 2016, the joint venture company, Horzum, sold 9,300 tonnes (wet weight) of zinc direct shipping material at an average grade of 35 per cent zinc (tonnage and assay based on provisional initial sampling and invoice) for a contained metal content of 6.7 million pounds of zinc. On March 30, 2016, the company sold its first lot of sulphide mineralization. This lot was 716 tonnes of material (wet weight) at an average grade of 49.9 per cent zinc.
Qualified person
John Barry, EurGeol, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information that forms the basis for this news release. Mr. Barry inspected all stages of the direct shipping operation, including material crushing, grinding, homogenization and sampling of material at the facility in Adana. AHK (Alfred Knight) Turkey Sampler and Assayer conducts weight, and humidity measurements and sample taking at load port (at buyer’s designated warehouse either in Adana or in Mersin). Samples taken are prepared and sealed in triplicate, with one sent to Alex Stewart in England and two witness samples each delivered to the buyer and the seller. Assays are conducted and certificates are issued to the buyer and the seller by Alex Stewart Labs in Liverpool, United Kingdom. Mr. Barry has verified the DSO lots reported in the attached table against the signed certificates issued by Alex Stewart Labs and the seller’s official documents of sale. Mr. Barry is a director of the company.
About Pasinex
Pasinex Resources is a 50-per-cent owner of the high-grade Pinargozu zinc mine, which is in production, and, under its DSO program, is shipping directly to zinc smelters/refiners from its mine site in Turkey.
http://pasinex.com/press-releases/
Related Posts
Tags
Share This
