18.0 Metres of 36.0% Zinc and 11.5 Metres of 32.0% Zinc

Vancouver, British Columbia–(Newsfile Corp. – August 21, 2018) – Zinc One Resources Inc. (TSXV: Z) (OTC Pink: ZZZOF) (FSE: RH33) (“Zinc One” or the “Company”) is pleased to announce the results from the last 27 drill holes of the Mina Grande Sur zone, Bongará Zinc Mine project located in north-central Peru. These drill holes are located in the northern sector of Mina Grande Sur. Holes identified as MGS18081 through 95 were drilled along the northern perimeter of mineralization delineating the northern extent of mineralization in the zone. Noteworthy intercepts include 18.0 metres of 36.0% zinc from MGS18077 and 11.5 metres of 32.0% zinc from MGS18080. Overall, 95 holes for a total of 2,328.4 metres have been drilled at Mina Grande Sur.

Jim Walchuck, President and CEO of Zinc One commented, “The Mina Grande Sur drill program delineated near-surface, zinc-oxide mineralization over a length of 350 metres in a north-south direction and as much as 200 metres in an east-west direction, open to the south and southwest. Along with the zinc-oxide deposit discovered at Mina Chica, we expect the success of this drill program to be manifested by a contribution to the total project’s resource estimate, which we anticipate will be completed Q4 2018.

Mina Grande Sur Additional Drill Results Highlights:

  • Results from 68 holes were reported previously (see news releases from March 29, May 7, May 29, and July 26, 2018).
  • Significant new intercepts include:
    • MGS18077 — 18.0 metres of 36.0% zinc, from 21.0 metres drill depth
      • True vertical thickness of 15.6 metres from true vertical depth of 18.2 metres
    • MCH18079 — 12.0 metres of 22.7% zinc, from surface
      • True vertical thickness of 9.2 metres
    • MGS18080 — 11.5 metres of 32.0% zinc, from 43.5 metres drill depth
      • True vertical thickness of 8.8 metres from true vertical depth of 33.3 metres
  • Mineralization at Mina Grande Sur includes zinc oxides, carbonates and silicates hosted by soils, highly-weathered carbonates, and fine- to coarse-grained dolomites, most of which are brecciated.

Mina Grande Sur is one of three known zones of high-grade, near-surface zinc-oxide mineralization along a 1.4 kilometre mineralized trend that was tested by this drill program., which consisted of 264 holes for 7,930.6 metres. All drill results from Bongarita, Mina Chica, and Mina Grande Sur have now been reported with results from Mina Grande Centro and Mina Grande Norte to be released in the coming weeks.

Geology and Discussion of Results

The zinc mineralization at the Bongará Zinc Mine project is classified as a Mississippi Valley-type deposit and is mostly hosted by strongly dolomitized brecciated limestones that are stratabound. The mineralization can also occur as tabular bodies with irregular boundaries, which is a characteristic of that mineralization encountered along the periphery of breccias, especially at Mina Chica. Hydrozincite (zinc oxide mineral), smithsonite (zinc carbonate mineral), hemimorphite (zinc silicate mineral), and a zinc-aluminum-iron silicate are the primary zinc minerals that are hosted by soils, dolomitized breccias, heavily-weathered fractured and vuggy dolomitized limestones, and fine- to coarse-grained dolomitized limestones.

The results from drill holes MGS18069 through MGS18095 at Mina Grande Sur can be found below in Table 1.

Table 1: Mina Grande Sur — Final Drill Results

Drill hole Easting* Northing* Azimuth Inclintion Total
depth
From
(m)
To
(m)
Total
(m)
True
vertical
thickness
(m)
Zn(%)
MGS18069 171350 9367805 0 -90 19.50 No intercepts of interest
MGS18070 171350 9367805 50 -45 27.50 No intercepts of interest
MGS18071 171349 9367803 230 -45 26.60 No intercepts of interest
MGS18072 171351 9367835 0 -90 28.30 1.50 4.5 3.0 3.0 25.5
MGS18073 171351 9367835 50 -45 24.50 7.50 15.0 7.5 5.3 33.1
MGS18074 171348 9367837 320 -45 27.00 0.0 7.5 7.5 5.3 25.6
MGS18075 171400 9367903 0 -90 50.00 No intercepts of interest
MGS18076 171400 9367903 90 -45 50.00 22.50 25.8 3.3 2.3 26.4
39.00 45.0 6.0 4.2 15.5
MGS18077 171398 9367902 180 -60 61.50 21.00 39.0 18.0 15.6 36.0
MGS18078 171367 9367880 0 -90 36.00 0.0 6.0 6.0 6.0 23.0
MGS18079 171367 9367880 180 -50 38.50 0.0 12.0 12.0 9.2 22.7
MGS18080 171370 9367883 90 -45 55.00 6.0 9.0 3.0 2.1 16.8
43.5 55.0 11.5 8.8 32.0
MGS18081 171467 9367940 315 -60 28.50 No intercepts of interest
MGS18082 171467 9367940 0 -90 51.00 No intercepts of interest
MGS18083 171467 9367938 225 -45 52.80 No intercepts of interest
MGS18084 171423 9367960 315 -60 40.50 No intercepts of interest
MGS18085 171423 9367960 0 -90 30.00 No intercepts of interest
MGS18086 171425 9367956 180 -45 20.50 No intercepts of interest
MGS18087 171390 9367959 315 -60 44.50 1.5 5.1 3.6 3.1 19.1
10.3 13.5 3.2 2.8 19.6
MGS18088 171390 9367959 0 -90 30.00 3.0 6.0 3.0 3.0 19.8
MGS18089 171393 9367955 180 -45 45.00 19.5 22.5 3.0 2.1 14.7
MGS18090 171365 9367950 315 -60 36.00 No intercepts of interest
MGS18091 171365 9367950 0 -90 34.50 No intercepts of interest
MGS18092 171366 9367946 180 -45 46.00 6.0 9.0 3.0 2.1 13.9
MGS18093 171339 9367924 0 -90 33.00 3.0 6.0 3.0 3.0 12.3
MGS18094 171339 9367924 180 -45 31.50 10.5 15.0 4.5 3.2 15.9
MGS18095 171336 9367927 315 -45 22.50 3.0 6.0 3.0 2.1 13.1

 

*Preliminary coordinates; land survey pending

Sampling and Analytical Protocols

Zinc One follows a systematic and rigorous Quality Control/Quality Assurance program overseen by Dr. Bill Williams, COO and Director of Zinc One.

The sample from each core run is placed in a 60-centimetre long, plastic core box that has five columns. Core recovery, rock quality designation (“RQD”), and geologic features are logged and sample intervals, which are generally <2 metres, are chosen. Each core box is photographed and then sampled with a spatula, if soil and heavily-weathered rock, or cut with a core saw, 50% of which is placed in a sample bag and stored on site in a secure location. The Company independently inserts certified control standards, blanks, and duplicates, all of which comprise at least 20% of the sample batch, to monitor sample preparation and analytical quality. The samples are stored in a secure area until such time they are shipped to the CERTIMIN laboratory in Lima (ISO 9001 Certified) for preparation and assay. At the laboratory, samples are dried, crushed, pulverized and then a four-acid digestion is applied. This is followed by the ICP-AES analytical technique for 33 elements, including lead. The same method is used to assay zinc for values up to 20%. If zinc values exceed 20%, it is then analyzed using a titration method. The laboratory also inserts blanks and standards as well as including duplicate analyses.