ZincX Resources to Participate at PDAC 2020 Conference
Vancouver, British Columbia, Canada – Tuesday, Feb. 25, 2020 – ZincX Resources Corp. (“ZincX Resources” or “the Company”, TSX Venture Exchange: ZNX) is pleased to announce the Company will participate in the upcoming PDAC 2020 Mining and Investment Conference to be held at the Metro Toronto Convention Centre (MTCC) from March 1- 4, 2020.
The PDAC is the world’s premier mineral exploration and mining convention which is held annually in Toronto, Canada. It is anticipated that this year’s event will host in excess of 1,100 exhibitors, 2,500 investors and 25,800 attendees from 132 countries. There are numerous technical sessions, short courses and networking opportunities for junior explorers.
The Company will be exhibiting at Booth #2317 on the Investors Exchange floor at the MTCC from 10 am to 5 pm each day. There is an open invitation to all shareholders and investors to visit with management and staff over the 4-day period and review information from the Akie Project that highlights the Company’s 100% owned zinc-lead-silver Cardiac Creek deposit. This includes the positive 2018 PEA results, metallurgical information and excellent specimens of high-grade drill core. Data from the 2019 drill program will be available for review and investors can learn about exploration plans for the upcoming 2020 field program. Additional technical information such as maps and cross sections will also be on display.
The PDAC represents an important networking opportunity to showcase the progress on the Akie Project and the premier zinc-lead-silver Cardiac Creek deposit.
A map showing the booth location can be found at: http://www.pdac.ca/convention/maps?l=2317
Mr. Peeyush Varshney, President and CEO, will provide a Corporate Presentation on Tuesday March 3, 2020 at 10:30 am. The presentation will take place in Room 803 during the Zinc Session at the Metro Toronto Convention Centre, South Building.
The talk will highlight the corporate developments over the past 12 months, focusing on the flagship Akie Project. Shareholders and investors are encouraged to take in the Corporate Presentation and then visit with management at the Corporate Booth to review the latest exploration data, including results of the 2019 drilling.
Additional information can be found at: https://www.pdac.ca/convention/programming/corporate-presentation-forum-for-investors/sessions/corporate-presentation-forum-for-investors/zinc
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 (formerly 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.
The Company updated the estimate of mineral resources at Cardiac Creek in 2018, as follows:
|5% Zinc Cut-Off Grade||Contained Metal:|
|Zn (%)||Pb (%)||Ag (g/t)||Zn (B lbs)||Pb (B lbs)||Ag
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:
|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|
|LOM Total CAPEX||$617.9M including $58.5M contingency|
|All-in Total OPEX||$102.4 per tonne milled|
|Pre-Tax Payback||2.6 years|
|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 AARSHNEY, LL.B
CEO & CHAIRMAN