TSX-V-listed Zinc One Resources has announced a maiden initial resource estimate for the Bongará zinc mine project, in north-central Peru.
The estimate consists of an indicated mineral resource of 812 000 t averaging 18.9% zinc containing 339-million pounds of zinc at a 10% zinc cut-off and an inferred mineral resource of more than 1.3-million tonnes, averaging 16.8% zinc containing 496-million pounds of zinc at a 10% zinc cut-off.
Commenting on the results, Zinc One director Greg Crowe said that the initial mineral resource quantified the volumes of high-grade zinc in an area of known near-surface mineralisation along a 1.4 km trend.
He also noted that geologic mapping and surface sampling confirmed the potential of the larger Bongará zinc mine project to host additional significant zinc mineralisation.
In 2019, Zinc One intends to carry out additional drilling that includes upgrading the confidence level of the currently defined inferred mineral resources and to expand the overall resource at nearby undrilled high-priority targets located between Mina Chica and Mina Grande Norte, as well as the northwest of Mina Chica at Camp Cielo.