Zinc One Reports Drill Results from Mina Grande Centro and Mina Grande Norte, Bongará Zinc Mine Project, Peru
Vancouver, October 10, 2018 - Zinc One Resources Inc. (TSXV: Z) (OTC Pink: ZZZOF) (FSE: RH33) ("Zinc One" or the "Company") is pleased to announce the drill results from 16 of the remaining 35 holes in the Mina Grande Centro zone as well as 8 of the 16 holes drilled in the Mina Grande Norte zone, Bongará Zinc Mine project located in north-central Peru. At Mina Grande Centro, holes MGC18037 to MGC18046 were condemnation holes located within an area of known mining in the southwest sector. The other drill holes reported herein are located eastward of this mined area with the best intercept from MGC18036, which drilled 21.7 metres of 22.7% zinc.
At Mina Grande Norte, drilling was focused on the eastern edge of previous mining and west of the high-grade zinc-oxide mineralization established by the earlier pit sampling and historical drilling to the north and east. Spectacular intercepts of 37.0 metres of 31.6% zinc from MGN18006, 30.0 metres of 28.3% zinc from MGN18004, and 19.5 metres of 28.0% zinc from MGN18003 were encountered.
Jim Walchuck, President and CEO of Zinc One commented, "The Mina Grande Norte results are beyond our expectations and we fully expect that this area will make an important contribution to the total project's resource estimate, which we anticipate will be completed during Q4 2018. The Mina Grande Centro drill program has clearly shown that there is the potential for high-grade mineralization to be delineated to the northeast and has provided important information regarding mined mineralization, all of which helps with our development planning."
Discussion of Results
Mina Grande Centro and Norte are a part of one of the three zones of high-grade, near-surface zinc-oxide mineralization along a 1.4 kilometre mineralized trend that was tested by this drill program, which consisted of 264 holes for 7,930 metres. Assay results from the remaining drill holes at Mina Grande Centro and Norte will be released in the coming weeks.
The zinc grades from Mina Grande Norte drill holes reported herein are a testament to the untested potential in and around known mineralization. Earlier pit sampling did not establish the base of mineralization and these drill holes demonstrated extraordinary grades over extraordinary thicknesses of up to 30 vertical metres. As at Mina Chica, the lengthy intercepts of high-grade mineralization did not outcrop, further substantiating the untested exploration potential between Mina Grande Norte and Mina Chica.
Mina Grande Centro drill holes reported to date have delineated the high-grade, near-surface, zinc-oxide mineralization to the south and southwest. Most of the area drilled has been remediated by the previous operator so delineation of mined mineralization was vital to the size and geometry of the zinc deposit today. The mineralization is open to the east and northeast, and the results from the remaining drill holes to be reported are located to the north and northwest.
Currently, an application to delineate the mineralization encountered by this overall drill program as well as explore the untested area is being reviewed by the Ministry of Mines.
The results from drill holes MGC18031 through 046 at Mina Grande Centro can be found below in Table 1. A detailed map titled "Drilling and Pit/Surface Sampling at Mina Grande Centro" can be found on the Company website at www.zincone.com.
Table 1: Mina Grande Centro Drill Results
| Drill hole | Easting* | Northing* | Azimuth | Inclination | Total depth | From (m) | To (m) | Total (m) | True vertical thickness (m) | Zn (%) |
| MGC18031 | 171330 | 9368100 | 0 | -90 | 28.50 | 9.0 | 10.9 | 1.9 | 1.9 | 10.6 |
| MGC18032 | 171330 | 9368100 | 360 | -45 | 64.50 | 7.5 | 13.5 | 6.0 | 4.2 | 19.6 |
| 24.0 | 36.0 | 12.0 | 8.5 | 28.0 | ||||||
| 45.0 | 58.5 | 13.5 | 9.5 | 17.3 | ||||||
| MGC18033 | 171330 | 9368101 | 90 | -45 | 53.50 | 36.0 | 46.6 | 10.6 | 7.5 | 18.0 |
| MGC18034 | 171313 | 9368076 | 315 | -60 | 39.50 | No intercepts of interest | ||||
| MGC18035 | 171314 | 9368076 | 0 | -90 | 40.50 | 30.6 | 40.5 | 9.9 | 9.9 | 11.9 |
| MGC18036 | 171317 | 9368075 | 90 | -45 | 40.50 | 17.3 | 39.0 | 21.7 | 15.3 | 22.7 |
| MGC18037 | 171327 | 9368025 | 0 | -90 | 21.00 | No intercepts of interest | ||||
| MGC18038 | 171327 | 9368025 | 315 | -45 | 25.50 | No intercepts of interest | ||||
| MGC18039 | 171330 | 9368022 | 135 | -45 | 37.50 | 15.0 | 32.4 | 17.4 | 12.3 | 20.6 |
| MGC18040 | 171355 | 9367982 | 0 | -90 | 21.00 | No intercepts of interest | ||||
| MGC18041 | 171355 | 9367982 | 90 | -45 | 25.50 | No intercepts of interest | ||||
| MGC18042 | 171328 | 9367969 | 0 | -90 | 21.00 | No intercepts of interest | ||||
| MGC18043 | 171303 | 9367987 | 0 | -90 | 25.50 | No intercepts of interest | ||||
| MGC18044 | 171288 | 9368017 | 0 | -90 | 20.50 | No intercepts of interest | ||||
| MGC18045 | 171299 | 9368046 | 0 | -90 | 28.50 | No intercepts of interest | ||||
| MGC18046 | 171301 | 9368108 | 0 | -90 | 30.00 | No intercepts of interest | ||||
*Preliminary coordinates; land survey pending.
The results from drill holes MGN18001 through 008 at Mina Grande Norte can be found below in Table 2. A detailed map titled "Drilling and Pit/Surface Sampling at Mina Grande Norte" can be found on the Company website at www.zincone.com.
Table 2: Mina Grande Norte Drill Results
| Drill Hole | Easting* | Northing* | Azimuth | Inclination | Total Depth | From (m) | To (m) | Total (m) | True vertical thickness (m) | Zn (%) |
| MGN18001 | 171051 | 9368376 | 0 | -90 | 18.00 | 1.5 | 4.5 | 3.0 | 3.0 | 13.4 |
| MGN18002 | 171052 | 9368377 | 45 | -45 | 30.00 | 4.5 | 9.0 | 4.5 | 3.2 | 15.8 |
| MGN18003 | 171052 | 9368375 | 135 | -55 | 36.80 | 9.0 | 28.5 | 19.5 | 16.0 | 28.0 |
| MGN18004 | 171056 | 9368346 | 0 | -90 | 42.00 | 4.5 | 34.5 | 30.0 | 30.0 | 28.3 |
| MGN18005 | 171056 | 9368347 | 0 | -45 | 21.00 | 15.0 | 18.0 | 3.0 | 2.1 | 17.7 |
| MGN18006 | 171058 | 9368345 | 90 | -55 | 50.00 | 5.0 | 42.0 | 37.0 | 30.3 | 31.6 |
| MGN18007 | 171118 | 9368312 | 0 | -90 | 20.00 | No intercepts of interest | ||||
| MGN18008 | 171118 | 9368313 | 0 | -45 | 15.00 | No intercepts of interest | ||||
*Preliminary coordinates; land survey pending.
Project Geology
The zinc mineralization at the Bongará Zinc Mine project is classified as a Mississippi Valley-type deposit and is mostly hosted by strongly dolomitized brecciated limestones that are stratabound. The mineralization can also occur as tabular bodies with irregular boundaries, which is a characteristic of that mineralization encountered along the periphery of breccias, especially at Mina Chica. Hydrozincite (zinc oxide mineral), smithsonite (zinc carbonate mineral), hemimorphite (zinc silicate mineral), and a zinc-aluminum-iron silicate are the primary zinc minerals that are hosted by soils, dolomitized breccias, heavily-weathered fractured and vuggy dolomitized limestones, and fine- to coarse-grained dolomitized limestones.
Sampling and Analytical Protocols
Zinc One follows a systematic and rigorous Quality Control/Quality Assurance program overseen by Dr. Bill Williams, COO and Director of Zinc One.
The sample from each core run is placed in a 60-centimetre long, plastic core box that has five columns. Core recovery, rock quality designation ("RQD"), and geologic features are logged and sample intervals, which are generally <2 metres, are chosen. Each core box is photographed and then sampled with a spatula, if soil or heavily-weathered rock, or cut with a core saw, 50% of which is placed in a sample bag and stored on site in a secure location. The Company independently inserts certified control standards, blanks, and duplicates, all of which comprise at least 20% of the sample batch, to monitor sample preparation and analytical quality. The samples are stored in a secure area until such time they are shipped to the CERTIMIN laboratory in Lima (ISO 9001 Certified) for preparation and assay. At the laboratory, samples are dried, crushed, pulverized and then a four-acid digestion is applied. This is followed by the ICP-AES analytical technique for 33 elements, including lead. The same method is used to assay zinc for values up to 20%. If zinc values exceed 20%, it is then analyzed using a titration method. The laboratory also inserts blanks and standards as well as including duplicate analyses.
Qualified Person
The technical content of this news release has been reviewed, verified and approved by Dr. Bill Williams, COO and Director of Zinc One, a qualified person as defined by NI 43-101.
About Zinc One Resources Inc.
Zinc One is focused on the exploration and development of prospective and advanced zinc projects in mining-friendly jurisdictions. Zinc One's key assets are the Bongará Zinc Mine Project and the Charlotte Bongará Zinc Project in north-central Peru. The Bongará Zinc Mine Project was in production from 2007 to 2008 but was closed due to the global financial crisis and concurrent decrease in the zinc price. Past production included 20% zinc grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization. High-grade, zinc-oxide mineralization is known to outcrop between the mined area and the Charlotte Bongará Project, which is nearly six kilometres to the NNW and where past drilling intercepted various near-surface zones with high-grade zinc. Zinc One is managed by a proven team of geologists and engineers who have previously constructed and operated successful mining operations.
Additional Information
Monica Hamm
VP, Investor Relations
Zinc One Resources Inc.
Phone: (604) 683-0911
Email: mhamm@zincone.com
www.zincone.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zinc One cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zinc One's limited operating history, its proposed exploration and development activities on the Bongará Zinc Oxide Project and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Zinc One does not undertake to publicly update or revise forward-looking information.
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