Zinc One Exercises Option to Acquire and Consolidate the Bongara Zinc-oxide Project and Charlotte Bongara Zinc-oxide Project
June 27, 2017 (Source) – Zinc One Resources Inc. (TSXV: Z) (OTC Pink: ZZZOF) (FSE: RH33) (“Zinc One or the Company”) is pleased to announce that it has exercised the option to acquire a 100% interest in the Bongará Zinc-Oxide Project and Charlotte Bongará Zinc-Oxide Project by making final cash payments totaling USD $1,150,000 to the optionors, thus laying the foundation for the redevelopment of the Bongará Zinc-Oxide Project.
Zinc One is the first company to own these projects together, which not only includes these two projects at each end of a six-kilometre long trend of known high-grade, zinc-oxide mineralization, but includes areas highly prospective for encountering additional such mineralization. The Bongará Zinc-Oxide Project will be Zinc One’s immediate focus as it believes this is the most expedient way to become a producer of zinc-oxide. Each property will continue to be subject to a modest advanced royalty and a 2% NSR on production.
“The acquisition of a 100% interest in the Bongará Zinc-Oxide Project and Charlotte Bongará Zinc-Oxide Project is another step in our path to production and the last material step in the acquisition of Forrester Metals Inc. We now fully control the concessions of two high-grade zinc projects and preparations are underway to advance the Bongará Zinc-Oxide Project,” commented James Walchuck, CEO of Zinc One.
“We appreciate the progress made by Forrester management and intend to keep that momentum going while we take these projects to the next level. Our focus and our mandate is to advance the Bongará Zinc-Oxide Project as quickly possible to take advantage of what we believe is an increasing bullish zinc market. One of the many signs we observe to formulate our belief is that the LME available zinc inventory is at the lowest level since 2007. Also, there are very few zinc projects coming online globally, which supports our business plan to advance the Bongará Zinc-Oxide Project as rapidly as possible.”
About Zinc One Resources Inc.
Zinc One is focused on the acquisition, exploration and development of prospective and advanced zinc projects in mining friendly jurisdictions. Zinc One’s key assets are the past producing Bongará Zinc-Oxide Project and Charlotte Bongará Zinc-Oxide Project in Peru. The Bongará Zinc-Oxide Project was in production from 2007 to 2008, but shut down due to the global financial crisis and concurrent decrease in the zinc price. Past production show greater than 20% zinc grades and recoveries over 90%; all from at or near the surface. The neighboring Charlotte Bongará Zinc-Oxide Project has multiple near-surface, high-grade zinc-oxide drill intercepts providing numerous drill targets and exploration potential. Zinc One’s objective is to restart production at the Bongará Zinc-Oxide Project with exploration of targets along a six-kilometre trend, which includes the Charlotte Bongará Zinc-Oxide Project. Zinc One is managed by a proven team of exploration geologists and engineers having previously constructed and operated successful mining operations.
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For a video presentation overview of Zinc One by CEO James Walchuck please follow this link: Zinc One Corporate Video Presentation
The technical content of this news release has been reviewed and approved by James Walchuck, CEO, President and Director of Zinc One, a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ZINC ONE RESOURCES INC.
CEO and President
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zinc One cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zinc One’s limited operating history, its proposed exploration and development activities on the Bongará Zinc Oxide Project and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Zinc One does not undertake to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
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