Ecuador court gives green light for Silvercorp, Salazar’s El Domo project
The ruling removes the last major obstacle for the $250 million project, located 150 km northeast of Guayaquil.
Vancouver-based Zinc One Resources (TSXV: Z) announced today that following a drill program at unreported holes in the Mina Grande Centro zone of the Bongará Zinc Mine in north-central Peru, the northern and western perimeters of mineralization previously mined were delineated.
In a statement, Zinc One said 24.1% zinc was intercepted over a length of 28 metres.
Mina Grande Centro is part of one of the three zones of high-grade, near-surface zinc-oxide mineralization along a 1.4-kilometre mineralized trend that was tested by the drill program, which consisted of 264 holes for 7,931 metres. An application to delineate the mineralization encountered by this overall drill program as well as explore proximal areas is being reviewed by the Ministry of Mines.
“These Mina Grande Centro results give us a better perspective of the deposit geometry and size,” said Bill Williams, Interim CEO of Zinc One, in the media brief. “We have demonstrated that high-grade zinc mineralization is open to the northeast and east. We expect this sector to make an important contribution to the overall resource estimate,” he added.
According to Zinc One data, the Bongará Zinc Mine was discovered in 1974 and since then various companies have completed exploration programs across the area. The previous operator, Forrester Metals, mined at an average rate of 358 tonnes per day for a total of approximately 25,000 tonnes of zinc metal in 2007 and 2008.
The zinc mineralization at the project is classified as a Mississippi Valley-type deposit and is mostly hosted by strongly dolomitized brecciated limestones that are stratabound.
The historical measured and indicated resource is estimated at 1,007,796 tonnes at 21.61% zinc, while the historical inferred resource is estimated at 209,018 at 21.18% zinc.
