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Zinc One Resources Inc.
Summary
| Project: | Bongara | |
|---|---|---|
| Deposit: | Bongara | |
| Location: | Peru | |
| Commodities: | Zinc-Lead | |
| Date: | 8/8/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-8-2017: Zinc One Resources Inc. announces a Supporting Acquisition report for its Bongara deposit at the Bongara project. Summary of property in support of Acquisition. In a letter dated 11 August, 2016 Vena Resources Corporation (“Vena”) (now known as | |
| Resources: | (historic estimate only) | |
| CP/QP: | [Resources]: Kurt Breede (Watts, Griffis & McOuat Ltd.) | |
| ABSTRACT: | In a letter dated 11 August, 2016 Vena Resources Corporation (“Vena”) (now known as Forrester Metals Inc.), of Toronto, Ontario, Canada retained Watts, Griffis and McOuat Limited ("WGM") to prepare a technical report on Vena’s Bongará “oxide”-type zinc project (the “Project”). On June 1, 2017, Zinc One Resources Inc. (“Zinc One”) acquired all of the issued and outstanding shares of Vena. As a result, this report has been prepared for Zinc One. The area of interest is located in the Yambrasbamba District of Bongará Province and the Cajaruro District of Utcubamba Province within the Amazonas Department in north-central Peru. The Project is located approximately 695 km north-northwest of Lima and 190 westnorthwest of the nearest airport at Tarapoto (Figure 1). The Property is hosted within a substantial zinc belt that extends the entire length of Peru and hosts a great many carbonate replacement deposits. The Bongará zinc mineralization was originally discovered by Canadian geologist William Menges in 1973. A number of companies have explored the area since that time including Noranda Explorations Co. (1974-1984), Canper Resources (1986), Solitario Resources (1993), Billiton (1999), Cementos Pacasmayo S.A.A. (2004-2005), Corianta SA (2009-2011) and Anglo Peruana Terra (2011-2012). WGM visited the Property in the mid- and late 1980s for Cominco. Many pits have been excavated and a significant number of holes have been drilled, with one program encompassing 69 diamond drill holes totalling 1,974.88 m. A small amount of zinc was produced during 2007-08 when the Property was leased to a cement company. High-grade ore was shipped to the coast where it was treated using a Waelz kiln to produce zinc calcine that was sold to major refineries. The Property produced approximately 25,000 tonnes of zinc metal. During this same period of time, areas surrounding and on strike with Bongará zone were explored resulting in extensions of the mineralization being identified in bedrock test pits over a distance of several kilometres. | |
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