by Greg Klein | November 26, 2015
With an enviable plan to finance its initial resource by mining the same project, Pasinex Resources CSE:PSE announced another zinc sale on November 26. Horzum AS, a 50/50 joint venture of Pasinex and chrome producer Akmetal AS, sold 1,478 tonnes wet weight of material grading approximately 38% zinc from the Pinargozu mine in southeastern Turkey. With over 1.1 million tonnes of contained zinc in this lot, sales from small-scale mining have totalled more than 8.8 million tonnes so far.
“Production is being stepped up, and has recently been averaging around 40 tonnes per day to as much as 60 tonnes per day,” said Pasinex president/CEO Steve Williams. “We have increased our mining areas from two to now three, and have staffed up. This is an exciting time for our growth, as we build Pinargozu into a small but strong zinc mine. We’re focusing our exploration efforts there and in the Akkaya area where we think there is much more zinc to be found.”
Pinargozu and the nearby Akkaya claims sit close to the historic Horzum mine, a few kilometres from a major highway and about one and a half hours from the city of Adana. In August the JV staked eight additional zinc-lead prospects “relatively close” to Pinargozu. Pasinex intends to continue drilling both Pinargozu and Akkaya throughout the year, with a goal of completing Pinargozu’s maiden resource within 12 months.
The company also holds a 100% option on the northern Turkey Golcuk project, where previous drilling confirmed the presence of Manto-style mineralization grading up to 2% copper.