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Zinc One Resources Inc.

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Summary

Project:

Bongara

Deposit:Mina Grande Sur
Location:Peru
Commodities:Zinc
Date:5/29/2018
Report Code:NI43-101
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:29-5-2018: Zinc One Resources Inc. announces an Exploration/Drilling Update report for its Mina Grande Sur deposit at the Bongara project. Drilling results incl. 11.2m @ 24.7% Zn from 1.8m. Vancouver, British Columbia--(Newsfile Corp. - May 29, 2018) - Zi
Resources:x
CP/QP:[Overall Report]: Bill Williams (Internal)
ABSTRACT:Vancouver, British Columbia--(Newsfile Corp. - May 29, 2018) - Zinc One Resources Inc. (TSXV: Z) (OTC Pink: ZZZOF) (FSE: RH33) ("Zinc One" or the "Company") is pleased to announce additional results from its drill program at the southern area of the Mina Grande Sur zone, part of the Bongará Zinc Mine project located in north-central Peru. Drilling in this area of Mina Grande Sur has been focused on the delineation of near-surface, high-grade mineralization. To date, results from 50 drill holes for a total of 803.6 metres at Mina Grande Sur have been reported with results from the 45 remaining holes to follow upon receipt. The drill program at Mina Grande Sur has now been completed and included a total of 2,328.4 metres from 95 holes (see map below in Figure 1.). Results of the drill program will contribute to the overall understanding of the area and provide data in support of the upcoming technical report expected to be released inQ3 2018. Jim Walchuck, President and CEO of Zinc One commented, "These results from the completed drill program at Mina Grande Sur continue to demonstrate that the Bongará Zinc Mine project is an exceptional zinc-rich deposit. We fully expect that the data collected from Mina Grande Sur will become part of the upcoming resource calculation for the entire project. While we wait for the remaining results from Mina Grande Sur, the drill program will be focused on the Mina Grande Centro zone, where drilling has now commenced, and then continue in the Mina Grande Norte zone." 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 is being tested by this drill program. Results from the 36 holes drilled have been reported at Bongarita, which lies approximately 1.3 kilometres northwest of Mina Grande Sur. A significant high-grade zinc deposit was discovered during the drill program at Mina Chica, which is approximately 1.2 kilometres northwest of Mina Grande Sur. Results from 35 of 53 holes drilled at Mina Chica, for a total of 2,370.9 metres, have been reported to date. Geology and Discussion of Results The zinc mineralization at Bongará is hosted by carbonate rocks and is classified as a Mississippi Valley-type deposit. The mineralization is stratabound and is basically a tabular body with irregular boundaries. Hydrozincite, smithsonite, hemimorphite, and a zinc-aluminum-iron silicate are the primary zinc minerals that are hosted primarily by soils, heavily-weathered fractured dolomites and dolomite breccias. Given that the strike and dip of the mineralization is not known, the intercepts do not necessarily represent true thicknesses; moreover, long intercepts, e.g., MGS18-003, most likely drilled subparallel to the dip of the tabular mineralized body. At Bongarita specifically, mineralization is exclusively hosted by soils. Overall, the mineralization is focused along the axis of a doubly-plunging anticline as well as within the eastern flank of the anticline.

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