Le Lézard
Classified in: Mining industry

ZincX Resources to Participate at PDAC 2024 Conference


VANCOUVER, BC / ACCESSWIRE / February 27, 2024 / ZincX Resources Corp. "ZincX" or the "Company", (TSX Venture Exchange:ZNX),(FRA:A2JLRM) is pleased to announce the Company will participate in the upcoming PDAC 2024 Mining and Investment Conference to be held at the Metro Toronto Convention Centre (MTCC) from March 3-6, 2024.

PDAC 2024
The PDAC is the world's premier mineral exploration and mining convention which is held annually in Toronto, Canada. It is anticipated that this year's event will host more than 1,100 exhibitors, 2,500 investors and 30,000 attendees from more than 130 countries. There are numerous technical sessions, short courses and networking opportunities for junior explorers.

Corporate Booth
The Company will be exhibiting at Booth #2317 on the Investors Exchange floor at the MTCC from 10am to 5pm Sunday through Tuesday and from 9am to 12pm on Wednesday. There is an open invitation to all shareholders and interested investors to visit with management and staff over the 4-day period and review information from the Akie Project that highlights the Company's 100% owned zinc-lead-silver Cardiac Creek deposit. This includes the robust positive PEA results, metallurgical information and excellent specimens of high-grade drill core. Data from the 2021 drill program will be available for review. Additional technical information such as maps and cross sections will also be on display.

The PDAC represents an important networking opportunity to showcase the progress on the Akie property and the premier zinc-lead-silver Cardiac Creek deposit.

A map showing the booth location can be found at: https://www.pdac.ca/docs/default-source/conventions/2024-convention/investors-exchange-may-25.pdf?sfvrsn=17c0479f_25

Corporate Presentation
Peeyush Varshney, CEO, Chairman and President, will provide a Corporate Presentation on Monday, March 4, 2024 at 3:26 PM. The presentation will take place in the Investment Hub theatre, Level 800, Hall E of the South Building of the Metro Toronto Convention Centre.

The talk will highlight the corporate developments over the past 12 months, focusing on the flagship Akie project. Shareholders and investors are encouraged to take in the Corporate Presentation and then visit with management at the Corporate Booth to review the latest exploration data.

Additional information can be found at: https://www.pdac.ca/convention/programming/corporate-presentation-forum-for-investors/sessions/corporate-presentation-forum-for-investors/base-metals-1

ZincX Resources Corp. (TSXV:ZNX),(FRA:M9R) is a Canadian exploration and development company creating value in the critical metals space - with a focus on zinc. Zinc is a versatile and essential material for the energy transition to a lower-carbon economy. It is already one of the most used metals in the world behind iron, aluminum and copper but also has applications in energy storage. It also plays a vital role in enabling other clean energy technologies like solar and wind.

ZincX Resources is well-positioned to take advantage of the worldwide looming shortfall in zinc production with the development of its Cardiac Creek (Akie property) deposit - which can help Canada meet its need for the critical mineral zinc and the global push towards decarbonization to combat climate change.

The Akie Zn-Pb-Ag Project
The 100% owned Akie property is situated within the Kechika Trough, the southernmost area of the regionally extensive Paleozoic Selwyn Basin and one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.

Drilling on the Akie property by ZincX Resources (formerly Canada Zinc Metals Corp) since 2005 has identified a significant body of baritic-zinc-lead SEDEX mineralization known as the Cardiac Creek deposit. The deposit is hosted by siliceous, carbonaceous, fine-grained clastic rocks of the Middle to Late Devonian Gunsteel Formation.

The Company updated the estimate of mineral resources at Cardiac Creek in 2018, as follows:

5% Zinc Cut-Off Grade

Contained Metal:

Category

Tonnes
(million)

Zn (%)

Pb (%)

Ag (g/t)

Zn (B lbs)

Pb (B lbs)

Ag (M oz)

Indicated

22.7

8.32

1.61

14.1

4.162

0.804

10.3

Inferred

7.5

7.04

1.24

12.0

1.169

0.205

2.9

The Company announced robust positive results from the 2018 Preliminary Economic Assessment (PEA). The PEA envisages a conventional underground mine and concentrator operation with an average production rate of 4,000 tonnes per day. The mine will have an 18-year life with potential to extend the life-of-mine (LOM) through resource expansion at depth. Key parameters for the PEA are as follows:

Parameter

Base Case1

Tonnes Mined

25.8 Mt

Mined Head Grades

7.6% Zn; 1.5% Pb; 13.08 g/t Ag

Tonnes Milled

19.7 Mt

Milled Head Grades (after DMS2 upgrade)

10.0% Zn; 1.9% Pb; 17.17 g/t Ag

Total Payable Metal (LOM)

$3,960M3

Initial CAPEX

$302.3M including $45.7M contingency

LOM Total CAPEX

$617.9M including $58.5M contingency

All-in Total OPEX

$102.4 per tonne milled

Pre-Tax NPV7%

$649M

Pre-Tax IRR

35%

Pre-Tax Payback

2.6 years

After-Tax NPV7%

$401M

After-Tax IRR

27%

After-Tax Payback

3.2 years

1. The base case used metal prices are calculated from the 3 year trailing average coupled with two year forward projection of the average price; and are: US$1.21/lb for zinc, US$1.00/lb for lead and US$16.95 for silver. A CDN$/US$ exchange rate of 0.77 was used. The NPV discount rate is 7%. 2. DMS = dense media separation. 3. All dollar amounts expressed in Canadian dollars.

The PEA is considered preliminary in nature and includes mineral resources, including inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves have not yet demonstrated economic viability. Due to the uncertainty that may be attached to mineral resources, it cannot be assumed that all or any part of a mineral resource will be upgraded to mineral reserves. Therefore, there is no certainty that the results concluded in the PEA will be realized.

Kechika Regional Project
In addition to the Akie Project, the Company owns 100% of eight of eleven large, contiguous property blocks that comprise the Kechika Regional Project including the advanced Mt. Alcock prospect. The remaining three contiguous blocks (Pie, Yuen and Cirque East) are owned 49% by ZNX and 51% by Cirque Operating Corporation which is a 50/50 joint venture between Teck Resources Limited (TSX:TECK.A) and (TSX:TECK.B);(NYSE:TECK) and Korea Zinc Co., Ltd. Six additional blocks which constitute the Kechika North project have been optioned to an arm's length third party. All of these properties collectively extend northwest from the Akie property for approximately 140 kilometres covering the highly prospective Gunsteel Formation shale; the main host rock for known SEDEX zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. The Kechika Trough represents tremendous potential for additional discoveries. These properties are located approximately 260 kilometres north-northwest of the town of Mackenzie, British Columbia, Canada.

Zinc (Zn)
Zinc is one of many critical metals facilitating the transition to a low-carbon and greener future and is used in renewable energy storage systems and through the protection of steel to improve its durability and service life in solar and wind turbine applications. The primary uses of zinc are the galvanization of steel protecting against corrosion due to weather conditions, the production of brass and bronze, and in die-casting to produce a wide range of metal products. In agriculture, zinc can also increase crop yields and crop quality and is an essential nutrient in human development and disease prevention.

Qualified Person
Ken MacDonald P.Geo., Vice President of Exploration for the Company, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release. Mike Makarenko P.Eng, JDS Energy and Mining, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the PEA technical information contained in this release.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

ON BEHALF OF THE BOARD OF DIRECTORS

ZINCX RESOURCES CORP.
"PEEYUSH VARSHNEY"

PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN

CONTACT:
Investor Relations
Phone (604) 684-2181
[email protected]

SOURCE: ZincX Resources Corp.



View the original press release on accesswire.com


These press releases may also interest you

20 avr 2024
Gold Royalty Corp. ("Gold Royalty" or the "Company") announced today that Glenn Mullan has stepped down as a director of the Company.  About Gold Royalty Corp. Gold Royalty Corp. is a gold-focused royalty company offering creative financing...

20 avr 2024
Chow Tai Fook Jewellery Group Limited ("Chow Tai Fook Jewellery Group", the "Group" or the "Company"; SEHK stock code: 1929), the leading Chinese jeweller built on nearly a century of trust and innovation, is proud to...

19 avr 2024
Almonty Industries Inc. ("Almonty" or the "Company") is pleased to announce that, further to its news release dated March 22, 2024, it has closed three tranches of its non-brokered private placement through the sale of 4,263,263 units ("CDN Units")...

19 avr 2024
Tocvan Ventures Corp. (the "Company") , announces it has filed an amended and restated offering document dated April 19, 2024 (the "Amended and Restated Offering Document") in connection with its previously announced non-brokered...

19 avr 2024
NV Gold Corporation ("NV Gold" or the "Company") announces that that it has entered into (i) a secured loan agreement with John Watson (the "Lender") pursuant to which the Lender provided a loan to the Company in the...

19 avr 2024
Atlas Salt Inc. ("Atlas" or the "Company"; is pleased to announce that the Honourable Bernard Davis, Newfoundland and Labrador (NL) Minister of Environment and Climate Change, has released the proposed Great Atlantic Salt Project...



News published on and distributed by: