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Pima Zinc Corp.
Summary
| Project: | Pima Zinc | |
|---|---|---|
| Deposit: | Pima Zinc | |
| Location: | United States | |
| Commodities: | Zinc-Copper-Lead-Silver | |
| Date: | 8/10/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-8-2018: Pima Zinc Corp. announces a Supporting Acquisition report for its Pima Zinc deposit at the Pima Zinc project. Summary of property in support of acquisition. Pima Zinc Corp. is purchasing 1139432 Nevada Ltd. to acquire the Pima Zinc property, co | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Tim Henneberry (Independent) | |
| ABSTRACT: | Pima Zinc Corp. is purchasing 1139432 Nevada Ltd. to acquire the Pima Zinc property, consisting of 133 BLM lode claims and 7 permit applications for the mineral rights. The lode claims total approximately 2,506 acres and the permit applications could add a further 1440 acres if approved. 1139432 Nevada is retaining a 2% Net Smelter Return (NSR) royalty on the claims and leases. Pima Zinc can by 1% of the NSR for $1,000,000 at any time up to five years of production, leaving 1.5%. The Pima Zinc property has the potential to host zinc-copper skarn and related porphyry copper mineralization. The property is road accessible and lies 29 kilometres southwest of Tucson, Arizona. Pima Zinc is issuing 5,000,000 shares of its capital and paying US$260,000 to the shareholders of 1139432 Nevada Ltd. for the property. The southern two thirds of the Pima Zinc property are underlain by Oligocene sediments and volcanics while the northern third is more complicated and is underlain by Cretaceous and Triassic sediments and volcanics intruded at the extreme western edge by the Paleocene Ruby Star granodiorite. The favourable carbonate units are believed to underlie the Pima Zinc property at depth, based on the drilling completed at the old CWT mine site, within the current property boundary | |
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