July 13, 2021
Vancouver, British Columbia, Canada – Tuesday, July 13, 2021– ZincX Resources Corp. (“ZincX Resources” or the “Company”, TSX Venture Exchange: ZNX, US: ZNCXF, FRA: A2JLRM) is pleased to announce that the second hole of the 2021 diamond drilling program targeting the Cardiac Creek deposit has been successfully completed to its intended depth.
The second hole targeted the central area of the high-grade core in the vicinity of A-06-35, A-17-127 and down-dip of A-05-30. The central area has yielded some very high-grade results including 25.06 metres (TW) of 14.70% Zn+Pb and 23.98g/t Ag in A-05-30, and 12.97 metres (TW) of 10.71% Zn+Pb, and 16.03g/t Ag in A-06-35. Information obtained from this hole will yield valuable information from this area which has produced some of the highest grades encountered in the deposit.
Drill hole A-21-156B intersected approximately 23.0 metres (core length) of the Cardiac Creek Zone from a downhole depth of 652.53 to 675.11 metres. The zone is characterized by beds of interlaminated pyrite and sphalerite banding that locally display mottled textures; interbedded with the black siliceous shales of the Gunsteel Formation. Sulfide bedding increases in volume and relative width down hole with individual beds up 50-100 cm wide. Secondary galena is observed throughout the zone but appears to be concentrated towards the base of the zone.
A lower “footwall zone” of mineralization was intersected over an approximate length of 10.0 metres from a downhole depth of 685.65 to 697.76 metres. The lower zone is characterized by multiple 30-50 centimetre wide beds of laminated pyrite and sphalerite interbedded with black shale. The zone also contains visible galena occurring along cleavage planes where they intersect sulfide beds. Toward the lower contact the interval consists of thinly laminated sphalerite-pyrite and very fine barite locally displaying “mottled” textures.
The drill hole was terminated in bioclastic limestone dominated debris flows of the Paul River Formation at a depth of 720.68 metres. A total of 144 samples including standard QA/QC samples will be collected from this drill hole and submitted for analysis. The true width estimate of the Cardiac Creek intercept is not yet available but is being modeled and will be calculated upon release of pending assay results.
The drill is currently nearing completion on the 3rd planned hole. The Company is examining options for extending the program by one or two additional holes.
2021 Drilling Program
The 2021 drill program consists of three holes totalling approximately 2,000 metres of drilling with a primary objective of acquiring mineralized Zn-Pb-Ag drill core samples for advanced metallurgical testing. This material will be used to further investigate previous metallurgical testing of the mineralization with a focus on enhancing the recoveries and boosting concentrate grades for both zinc and lead; using state-of-the-art metallurgical testing facility owned by key strategic shareholder Tongling Non-Ferrous Metals of China (Tongling).
Tongling had previously agreed to fully fund the drilling and metallurgical test program. ZincX Resources will manage the drill program on behalf of Tongling who will subsequently conduct the metallurgical test program at the conclusion of the 2021 exploration season. This test is intended to enhance metallurgical work conducted and reported by the Company in the 2018 PEA.
Additional drill targets and or exploration activity will be contemplated as budget and time constraints allow.