Pasinex Resources: Growing Zinc Producer & Explorer in Turkey

Pasinex Resources Limited has established a world class team to explore, develop and mine promising high-grade zinc-lead-silver and copper properties in mineral-rich parts of Turkey. The Company has chosen to focus on areas that are within the two Anatolian Faults, running both northerly and easterly, because these faults host very high grade mineralized systems.

Pasinex Resources Limited (Listed in Toronto stock exchange CSE: PSE; and Frankfurt FSE: PNX) is a 50% owner of the high grade Pınargözü zinc mine which is in production and, under its DSO Program, is shipping directly to zinc smelter /refinery from its mine site in Turkey. The Company has a strong technical management team with many years of experience in mineral exploration and mining project development.

The mission of Pasinex is to build a mid-tier zinc company based on building a large land within a productive CRD district in Turkey. While realizing its aim, Pasinex Resources adopts responsible governance and management in sake of providing sustainable development. Having management procedures in place that promote honesty, integrity, transparency and accountability, Pasinex Resources engage host communities and other affected and interested parties while contributing to community development and social well-being. Pasinex Resources shows utmost importance to protect environment and safeguarding the health and safety of workers and local population.

Our Projects;

Pınargözü Zinc Mine – Adana, Turkey

Adana TurkeyPasinex, through its 50/50 Horzum Joint Venture, produces direct shipping zinc ore (DSO) at its Pınargözü Mine located in Adana Provence, southern Turkey. Mining began in May 2014 and as of September 2016 the mine has produced and sold 22,890 dry tonnes of ore at an average zinc grade of over 35%. With the opening of the third adit at the 670 m level in August 2016. the Mine is now producing both DSO oxide (+25% zinc) and DSO sulfide (+45% zinc). As of November 2016, the operation employs 225 workers in Turkey and is producing at a rate of 120 tonnes/day from 3 adits. Pasinex is projecting total zinc sales of 30 million pounds for 2016 and 50 million pounds for 2017. Exploration drilling is successfully defining new zinc resources at the Pınargözü Mine and at targets along the Horzum Zinc Trend.

Gunman High-Grade Zinc (Silver) Project –  Nevada, USA

gunman-zinc-project

Pasinex Resources through its wholly-owned subsidiary Pasinex Resources Nevada Limited, has acquired the option by honoring the terms of Silcom’s original option agreement to acquire an 80% interest from Cypress in the Gunman zinc project. As of March 2018, all drilling completed on the Gunman property to-date by all operators is 114 reverse circulation (RC) holes for 42,155 feet and 17 core holes totaling 11,516 feet for a total of 53,671 feet of drilling in 131 holes. The project is located within the eastern portion of White Pine County, Nevada. The report is intended to provide a detailed accounting of all modern exploration at the Gunman property and to provide interpretations of the compiled data for the purposes of proposing additional development and exploration work for zinc and silver mineralization on the property.

Gölcük Copper Project – Sivas, Turkey

Figure 1: Distribution of copper porphyry deposits (orange dots) in eastern Turkey. In the inset, intrusive rocks are red, volcanics green, clastic sediments yellow and carbonates blue (from: Yigit, 2009).

Pasinex acquired the property in October 2012 from Eurasian Minerals Inc. Pasinex’s Gölcük Copper Project occupies a 40 square kilometre mineral claim in the Sivas Province of central north-east Turkey, a region characterized by later Palaeozoic-intrusives and porphyry-associated mineralization

Copper mineralization at Gölcük occurs as disseminations, veins and stockworks in a layered package of andesite and basalt. Small-scale mining of the surface mineralization at Gölcük is said to have taken place during Roman times. Modern exploration has seen the drilling of 20 diamond drill holes into a very small area of the property, the best of these yielding 13.5m averaging 2.6% Cu and 41.9 g/t Ag. All of these factors attracted Pasinex’s management to the property.

Modern exploration of the property began in the 1970’s when Etibank (Turkey’s then state mining company) conducted a limited surface geochemical sampling program over the visible surface mineralization, and drilled seven diamond boreholes totalling 1,113m. Their best hole (GS-2) returned 34 of 1.36% Cu (from 85m to 119m). Then in the 1990’s, RTZ drilled one hole that returned 17m of 1.17% Cu.They also undertook a detailed petrological study of the core which indicated that while bornite, with very low levels of pyrite, was the major copper mineral present, chalcopyrite, accompanied by higher levels of pyrite, can, in some zones, be an important member of the copper-bearing ore mineral suite. In 2007, while under option to Turmenka Madencilik Sanayi ve Ticaret A.S (Turmenka), a further 12 diamond drill holes were drilled at Gölcük, the best of which yielded 13.5m averaging 2.6% Cu and 41.9 g/t Ag. As discussed below, Pasinex believes that this drilling did not close off the mineralization evident at surface and confirmed at depth in some boreholes. In 2010 Eurasian carried out a geological mapping program and a detailed soil geochemical survey that extended well beyond the area previously sampled and drilled, covering approximately 30% of the property. The geochemical survey, in addition to distinguishing the target already drilled, delineated two significant copper anomalies, in association with visible copper mineralization.