Nevada Zinc Extends Discovery Zone Mineralization

TORONTO, ON / ACCESSWIRE / April 23, 2015 / Nevada Zinc Corporation (TSXV: NZN) (“Nevada Zinc” or the “Company”) announces that the final Phase 2 drill results show the continuation of the zinc mineralization at the Discovery Zone both to the southwest (up-dip) and to the southeast (along strike). Drill hole LM-15-24 intersected significant zinc mineralization averaging 5.05% zinc and 0.21% lead over a 50.29 metre (165 foot) interval closer to surface than other previously announced drill holes. Drill holes LM-15-21 and LM-15-22 extend the southeasterly extent of the mineralization by approximately 30 metres. The Company recently received BLM drilling authorization for additional work on the Lone Mountain property (the “Property”) and the Company reports that the Phase 3 drill program at the Property has now commenced.

President and CEO, Bruce Durham commented on the results: “The latest drill results continue to expand the footprint of the Discovery Zone mineralization along strike and up dip from previously released assay results. We now have a drill section influence of approximately 150 metres and we have traced the mineralization along its dip plane for some 250 metres. The thickness of the intersections is variable but so far they appear to average 30-40 metres. The key point is that the zone remains virtually wide open in all directions”.

Highlights

• Drill hole LM-15-21 (-75 degrees) intersected three zones of zinc and lead mineralization in the interval from 138.68 to 210.31 with the longest section being 12.19 metres averaging 3.14% zinc with only minor lead.

• Drill hole LM-15-22 (-65 degrees) intersected four zones of zinc and lead mineralization in the interval from 134.11 to 233.17 with the longest section being 36.58 metres averaging 3.90% zinc with only minor lead.

• Drill hole LM-15-23 (-45 degrees) first intersected anomalous zinc at 85.34 metres. From 85.34 metres many sample intervals were not recovered through to 135.64 metres. Where sample material was recovered, assays ranged from 0.2% zinc up to 11.45% zinc. Due to the number of missing samples, no real average for the 50.3 metre interval could be calculated. However, the interval from 117.35 to 135.64 metres averaged 3.76% zinc even including zero grade assigned to and averaged into 50% of the interval.

• Drill hole LM-15-24 (-60 degrees) intersected a broad zone of zinc and lead mineralization in the interval from 96.01 to 146.30 that averaged 5.05% zinc and 0.21% lead, including higher grade intervals as shown in the accompanying table. One interval from 134.11 to 140.21 assayed 21.81% zinc and 0.92% lead over 6.10 metres.

• Drill hole LM-15-25 (-50 degrees) intersected a narrow zone of zinc and lead mineralization in the interval from 117.35 to 120.40 that averaged 3.86% zinc (drilled off section).

• The assay results from the Phase 1 and early Phase 2 drill holes indicate the presence of intervals of significant zinc-lead mineralization up-dip, down-dip and in both directions along strike from the high grade zinc lead Discovery Zone first reported in the Company’s press release dated November 19, 2014 as well as at a location some 200 metres to the southeast.

• A strong coherent zinc in soil anomaly accompanies the up-dip projection of the mineralization for a minimum 1400 metre length parallel to stratigraphy.

• Phase 3 drill program has commenced.

To view an enhanced version of the Drilling Plan Map, please visit:
https://orders.newsfilecorp.com/files/3498/15032_nevada1enhanced.jpg

Drill Sections

Discovery Section

To view an enhanced version of the Discovery Section, please visit:
https://orders.newsfilecorp.com/files/3498/15032_nevada2enhanced.jpg

Drilling Cross Section

To view an enhanced version of the Drilling Cross Section, please visit:
https://orders.newsfilecorp.com/files/3498/15032_nevada3enhanced.jpg

Drilling Details

Reverse circulation drill holes LM-15-21 and LM-15-22 were drilled from the same setup to test for the presence of non-sulphide zinc mineralization along trend from the Discovery Zone and toward the historic Mountain View mine. Each of the holes intersected more than one area of mineralization as shown in the table and on the cross sections. The zone remains open to the southeast toward the Mountain View mine.

Reverse circulation drill holes LM-15-23 LM-15-24, and LM-15-25 were drilled from the same setup to test for the presence of non-sulphide zinc mineralization up dip from the Discovery Zone on the Discovery Zone section. Each of the holes LM-15-23 and LM-15-24 intersected more than one area of mineralization as shown in the table and on the cross sections. The zone remains open to the southwest up dip toward surface. Drill hole LM-15-23 intersected broad areas of mineralization that included significant high grade values as shown in the table. Drill hole LM-15-24 intersected zinc mineralization over a 50 metre interval although less than half of the 1.52 metre sample intervals were recovered and available for analysis. The best recovered interval in this hole had only half of the sample intervals available for analysis and therefore half of the samples were included at zero grades for zinc and lead but still averaged 3.76% zinc over 18.28 metres. The Company plans to attempt to re-drill this area in the future.

Drilling Results

Significant assays from the drill program are presented in the following tables:

Based on the results of the entire phase 1 + phase 2 drill programs the Company is currently unable to determine the true width of the intersections reported in this and prior releases.

The Phase 2 drill program was mostly comprised of reverse circulation drilling targeted at extending the known dimensions of the Discovery Zone tested in the Phase 1 drill program and drill testing the known and interpreted zinc-lead mineralization identified in the studies completed in the Phase 1 drill program. The Company met this objective and plans to further extend the limits of the Discovery Zone in the Phase 3 drill program. Work also commenced on a number of technical fronts that will include preliminary work on the characteristics of the mineralization. The Company has designed a program of broad spaced drill testing of a strong soil geochemical anomaly that appears to correlate with the interpreted location of the surface expression of the zinc-lead mineralized zones of interest. The surface trace of the strongest zinc in soil anomaly also correlates well with the on-strike location of the historic zinc mine on the Mountain View mine claim. A second well defined anomaly that is primarily lead with lesser anomalous zinc appears to roughly correlate with the location of the more easterly part of the drill holes completed to date. Each of these anomalies extends for 1400 metres northwest from the Mountain View mine claim. Additional geochemical data has been collected to the southeast of the Mountain View mine claims and is currently being evaluated.

About Lone Mountain

The Property is comprised of 217 claims covering approximately 4,000 acres and is held 100% by Nevada Zinc subject to certain terms as per the underlying agreements disclosed on SEDAR (press release June 24, 2014).

The Property is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are generally available. The Property surrounds the former Mountain View mine that is reported to have produced some 5 million pounds of zinc and some 0.6 million pounds of lead from non-sulphide mineralization comprised of smithsone, zincite, hydrozincite and cerussite.

The Company maintains a QA/QC program on the analytical process. Additional assay results will be released when received and subsequent to passing QA/QC review.

Sample Preparation and Quality Control

Supervision and organization of reverse circulation drilling chip samples was undertaken by Nevada Zinc personnel. Samples were collected at 5-ft intervals from a rotating wet splitter assembly attached to the drill rig. Chip tray samples were collected from the reject side of the wet splitter. The splitter was adjusted to produce 10-20 lbs of sample. Samples were collected from the drill in cloth bags by employees of New Frontier Drilling under the supervision of Nevada Zinc personnel. Samples were catalogued by Nevada Zinc geologists and stored in a secure location. Certified reference standards were placed in the sample stream of each drill hole at random intervals. Blank material was also inserted at random intervals.

Assay Techniques

Preparation of the samples was done at the ALS Chemex Elko, NV facility. A 250 gram master pulp was taken, then splits were sent to ALS’s North Vancouver, BC facility or their Reno, NV facility. A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS completed on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% zinc or lead), the procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis). In the case of values exceeding the limits of the ore grade analysis (30% zinc, 20% lead), the procedure was to use specialized titration methods.

Laboratory QA/QC

Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-133b, OREAS-134b, OGGeo08, and CZN-4. No issues were noted with analytical accuracy or precision.

ALS Chemex’s Reno, Elko, and North Vancouver locations have ISO/IEC 17025:2005 accreditation.

Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and has approved the scientific and technical content contained in this press release.

About Nevada Zinc

Nevada Zinc is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Company’s existing projects are located in Nevada and Yukon.

For further information contact:

Nevada Zinc Corporation
Suite 1500 – 4 King St. W.
Toronto, Ontario M5H 1B6
Tel: 416-504-8821

Bruce Durham

President and CEO
bdurham@nevadazinc.com
www.nevadazinc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Nevada Zinc Corporation 

ReleaseID: 428157