Pasinex Resources Limited profile
Pasinex Resources Limited (CSE: PSE) has established a world class leadership team to explore, develop and mine promising high grade zinc-lead-silver and copper properties in mineral-rich parts of Turkey. Management has chosen to focus on areas that are within the two Anatolian Faults, running both northerly and easterly, because they host very high grade mineralized systems. Pasinex, along with Joint Venture partner Akmetal, are currently producing high grade zinc from their Horzum property.
Turkey’s rich natural resources have attracted large mining companies like Teck Resources (TSX:TCK.B), First Quantum Minerals Ltd. (TSX:FM, LSE:FQM) and Turkish company Koza Altin Isletmeleri (IBSE:KOZAL). The government is committed to mineral development, has a growing economy and an excellent, educated workforce.
Pasinex has offices in Ankara, Turkey and Canada.
- Focus on historic zinc belt in south-east Turkey with pipeline of high grade projects near past-producing Horzum Zinc Mine (around 2 Mt @ 28% Zn).
- Akmetal AS – large producer of chromite in Turkey and interests in an operating gold and base metal mines in Turkey; part of the large privately owned Kurmel Group; owner of Horzum Mine.
- Low CAPEX; Cash flow in 2015.
- Pinargozu target for high grade Zn mineralization (+30% Zn).
- Akkaya shows strong presence of Zn/Pb anomaly.
- First agreement to sell in December 2014: 5,000 tonnes of high grade zinc material (>30%Zn) valued at > U$1M.
- 2.4 M lbs Zn mined from Pinargozu in Jan – April 2015; Work underway to increase production rate in 2015.
- 2015 Work Plan: 3,500 m Drill Program for a target resource of 1 Mt @ 30% Zn at Pinargozu; Drill test adjacent Akkaya.
- NI 43-101 resource estimate at Pinargozu planned for Q3 2015
1450 - 789 West Pender StreetVancouver, BC, CanadaV6C 1H2
Investor Relations Contacts
President & CEO
Pasinex Resources Limited416-861-9659
CHF Investor Relations
Content last updated on : Jun 28, 2016