ZincX eyes new targets as it awaits PEA

ZincX Resources Corp. (formerly Canada Zinc Metals) June 7 announced plans for a 2,500-meter drill program focused on exploration targets at Akie, one of 11 zinc-lead-silver properties owned by the company that blanket 79,870 hectares (197,359 acres) of the Kechika SEDEX (sedimentary exhalative) belt in northeastern British Columbia.

ZincX has divided this land package into two projects – Akie, which hosts the Cardiac Creek deposit, and the Kechika regional, a series of property blocks that extend roughly 140 kilometers (85 miles) along the SEDEX belt.

Cardiac Creek hosts 22.7 million metric tons of indicated resource grading 8.3 percent (4.2 billion pounds) zinc, 1.6 percent (804 million lb) lead and 14.2 grams per metric ton (10.3 million oz) silver; and 7.5 million metric tons of inferred resources grading 7 percent (1.2 billion lb) zinc, 1.2 percent (205 million lb) lead and 12 g/t (2.9 million oz) silver.

A preliminary economic assessment for this deposit is currently being finalized.

The 2018 program at Akie will start with testing the Sitka showing, an undrilled prospect east of Cardiac Creek.

Discovered in 2013, the Sitka showing consists of a six-meter-thick vein or fault structure with massive barite containing abundant coarse-grained galena and sphalerite. A three-meter-thick parallel structure is situated about 10 meters to the northeast. Channel samples collected from Sitka in 2013 returned assays ranging from 1.9 to 5.1 percent zinc and up to 3.7 percent lead.

Drilling will also target the southeastern strike extents of the Cardiac Creek mineral horizon beyond the current limits of the resource on the Akie property. Hole A-11-95, the closest hole to the target being tested, cut 24.6 meters averaging 3.07 percent zinc-plus-lead.

ZincX said successful drilling in this area would expand the deposit resource to the southeast.

The company also plans to drill the North Lead zone, which is located roughly 3,000 meters northwest of the current limits of the Cardiac Creek deposit. Historical and recent drilling in this area has intersected a large system that is highly anomalous in both lead and zinc. Based on what it has observed at

Cardiac Creek, ZincX said its models suggest an increasing grade of the mineralization lower in the section.

The company is also considering testing several other targets on the Akie property.

The diamond drill program is expected to start by the 3rd week of June and continue through to September.

"The past 15 months have been very busy and productive. We launched and concluded a successful 2017 drill program, updated and expanded the mineral resource at Cardiac Creek, announced positive metallurgical results from an extensive 12-week testing program, and we are anticipating the announcement of the first-ever PEA on the Cardiac Creek deposit shortly.

"The 2018 exploration program is primarily focused on finding new deposits and/or new zones of mineralization on the Akie property while we await recommendations from the PEA for future exploration on the Cardiac Creek deposit," said ZincX President and CEO Peeyush Varshney.

A joint venture between Teck Resources Ltd. and Korea Zinc Co. own a 51 percent interest in three Kechika regional properties – Pie, Cirque East, and Yuen.

"Talks are also underway with Teck Resources to determine best steps forward for exploration on the Pie Option properties," said Varshney.

ZincX said it is considering spinning out its Kechika regional properties into another company, providing shareholders more value from the blue-sky potential provided by these earlier staged zinc properties.

"2018 is shaping up to be another very busy year as we continue to dialogue with several interested mining and investment groups which clearly see the success at Cardiac Creek and like the future, long-life district potential of the Kechika Regional properties," said the ZincX CEO.

The 2018 drill program is scheduled to begin by the end of June.

–SHANE LASLEY