InZinc Announces Key Correlations to One of the World's Most Prolific Zinc-Lead-Silver Belts, the Selwyn Basin, at the Indy Project in Central BC

Rhea-AI Summary

InZinc Mining has announced key stratigraphic correlations linking the Indy project in central British Columbia to the metal-rich Selwyn Basin. These significant geological findings, which span Devonian and Ordovician ages, suggest the presence of Sedex-type zinc-lead-silver deposits similar to those in the Selwyn Basin. The Indy project, which covers a 30 km area, has shown extensive barite mineralization and untested geochemical anomalies. Additionally, the company plans a geological mapping and soil geochemistry program for June-July 2024. A recent board change was also noted with John Murphy not seeking re-election.

Positive

• New geological correlations suggest potential for significant Sedex-type zinc-lead-silver deposits at Indy project.
• Extensive barite mineralization with zinc-lead enrichment discovered at Keel.
• Planned geological mapping and soil geochemistry program for June-July 2024.
• Indy project covers a large, unexplored area of 30 km, indicating high exploration potential.
• Similarities with prolific Selwyn Basin deposits, including the Gunsteel Formation.

Negative

• No immediate revenue or production from the Indy project announced.
• Presence of key stratigraphic units does not guarantee economically viable deposits.
• Potential delay if drill permits are not renewed timely.
• Change in board membership with John Murphy not seeking re-election may affect strategic direction.

Vancouver, British Columbia--(Newsfile Corp. - May 16, 2024) - InZinc Mining Ltd. (TSXV: IZN) ("InZinc" or the "Company") announces that key stratigraphic units supporting links to the prolific, metal-rich Selwyn Basin have been identified at the Indy project (100% interest) ("Indy" or the "Project") located 90 km southeast of Prince George, British Columbia, Canada. Previously, these key units, known to host the deposits of the Selwyn Basin, only extended from the Yukon into northeastern BC (see Figure 1).

The Selwyn Basin, a 1100 km long sedimentary belt, hosts the world's second largest known accumulation¹ of Sedex (zinc-lead-silver) deposits and districts and includes several world-class deposits (see Table 1).

New correlations of geology, fossil assemblages, mineralization and past discoveries support the presence of a "slice" of the Selwyn Basin at Indy.

Table 1: Sedex Districts and Deposits of the Selwyn Basin, Canada

Sedex Deposit/District	Historical and Current Estimates (Mt - million tonnes)
Anvil District, Yukon	120 Mt at 5.6% zinc, 3.7% lead and 45 to 50 g/t silver2
Howard's Pass District, Yukon	400 Mt at 5% zinc and 2% lead3
Mac Pass District, Yukon	11.2 Mt Indicated at 6.6% zinc, 2.5% lead and 21.3 g/t silver4 39.5 Mt Inferred at 5.8% zinc, 3.1% lead and 38.2 g/t silver4
Cirque, Northeast BC	40 Mt at 7.8% zinc, 2.2% lead and 48 g/t silver5
Akie, Northeast BC	22.7 Mt Indicated at 8.3% zinc, 1.6% lead and 14.1 g/t silver6 7.5 Mt Inferred at 7.0% zinc, 1.2% lead and 12.0 g/t silver6

 

A Selwyn "Slice" at Indy

The following discoveries at Indy support the presence of the Selwyn "slice":

• New correlations on the age of mineralization and associated shales to the known mineralizing sequences in the Sedex deposits of the Selwyn Basin.
• Extensive barite mineralization with zinc-lead enrichment recently discovered at Keel (700 m strike - open).
• Sedex type mineralization outlined at the B-9 trend (450 m strike - open).
• Identification of a potential second-order shale basin, typical of Sedex settings worldwide.
• Numerous, untested geochemical anomalies across the largely unexplored 30 km long property.

"It's been an exciting several months as the discovery of barite at Keel has evolved and correlations to the Selwyn Basin and its tremendous metal endowment have been made. We believe Indy presents an extraordinary opportunity to explore the well-known and productive Selwyn sequences of northern Canada - for new Sedex deposits in central BC," remarked Kerry Curtis, Geologist and Chairman of InZinc.

Wayne Hubert, CEO of InZinc added, "These are remarkable advancements for exploration at Indy. A potential Sedex discovery, or district, just an hour and half drive from the city of Prince George, could provide competitive domestic smelter feed, sustainable metal production and new economic growth opportunities for BC."

Figure 1: Western Canadian Sedex (Zinc-Lead-Silver) Deposits of the Selwyn Basin

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6480/209469_6b6066c064005ba7_001full.jpg

Figure 2: Indy Project - Main Trend Targets

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https://images.newsfilecorp.com/files/6480/209469_6b6066c064005ba7_002full.jpg

Geology - Correlations Between Indy and the Selwyn Basin

Devonian and Ordovician age sedimentary rocks are well documented as being productive sequences for Sedex-style (zinc-lead-silver-barite) deposits in the Selwyn Basin. Both ages of stratigraphy are present at Indy.

• Macrofossils of middle to late Devonian age are identified in shales associated with barite-sulphide mineralization. They correlate accurately to the mid to late Devonian macrofossils present in the mineralized shales (Gunsteel formation) hosting the Cirque and Akie Sedex (barite-sulphide) deposits located 500 km to the north (see Figure 1).
• Furthermore, the geological setting at Indy, consisting of debris flows and shales deposited at the margin of a potential second order basin, is remarkably similar to mineralized basin sequences of the Gunsteel Formation at the Cirque Sedex deposit.
• By extension, the Devonian sediments of the Earn Formation hosting the Mac Pass Sedex deposits in the Selwyn Basin, Yukon are also correlative to those at Indy.
• Age determinations are further confirmed by microfossils (conodonts) identified as Devonian age by the GSC⁷ in 1988 - prior to the discovery of barite-sulphide mineralization.
• A lower shale unit also present at Indy, was dated by the GSC⁷ as Ordovician age (Road River Formation equivalent - Howard's Pass Sedex District) offering another potential target sequence for Sedex exploration.

Funded Exploration Program

Geological mapping and targeted soil geochemistry, based on new Selwyn Basin correlations, are planned for June-July 2024. InZinc is currently renewing its drill permit for a 5-year term.

Change in Board Membership - Mr. John Murphy

John Murphy, a member of the Board of Directors, will not be seeking re-election at the Company's upcoming Annual General Meeting to be held on May 31, 2024. Mr. Murphy was appointed to the Board in June 2016. John provided valuable insight, perspective and knowledge over the past eight years. The Board and management wish John the best of success in his future endeavors.

¹ Emsbo, P., U.S. Geological Survey, Open-File Report 2009-1209. Geologic Criteria for the Assessment of Sedimentary Exhalative (Sedex) Zn-Pb-Ag Deposits.
² Emsbo, P., U.S. Geological Survey, in SEG Reviews, Vol. 13, 2000, p. 427-437.
³ Goodfellow, W.D., Lydon J.W., and Turner R.J.W., 1993. Geology and genesis of stratiform sediment-hosted (SEDEX) zinc-lead-silver sulphide deposits; in Mineral Deposit Modeling, (ed.) R.V. Kirkham, W.D. Sinclair, R.I. Thorpe, and J.M. Duke; Geological Association of Canada: Special Paper 40, p. 201-251.
⁴ Fireweed Metals, website.
⁵ Don G. MacIntyre, Ph.D., P.Eng, BCGS 1998. Geology, Geochemistry and Mineral Deposits of the Akie River Area, Northeast British Columbia.
⁶ ZincX Resources, website.
⁷ Struik, L.C., (1988). Structural Geology of the Cariboo Mining District East-Central British Columbia. GSC Memoir 421.

About InZinc

InZinc is an active explorer and, through its Indy project, equity investment and royalty interests, is exposed to a diverse portfolio of active North American base metals and precious metals projects. The Company has discovered and continues to explore for expansion of near surface zinc mineralization at the easily accessible Indy project located in a new and under-explored mineral region of central British Columbia, Canada. A Canadian subsidiary of South32 (ASX, LSE, JSE) became a major tenure holder in the belt by staking approximately 200 km² of adjacent claims in late 2021. InZinc has a significant equity investment in American West Metals (ASX) which is advancing multiple North American base metals projects. In addition, InZinc has a production royalty and will receive 50% of the revenue (NSR) from the sale of indium mined from American West's West Desert project.

InZinc Mining Ltd.

Wayne Hubert

____________

Chief Executive Officer 
Phone: 604.687.7211
Website: www.inzincmining.com

For further information contact :
Joyce Musial
Vice President, Corporate Affairs
Phone: 604.317.2728
Email: joyce@inzincmining.com

Qualified Person

Brian McGrath, B.Sc., P.Geo. a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has approved the technical content of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Forward-looking statements, include but are not limited to, statements that address activities, events of developments that the Company expects or anticipates will or may occur in the future. Forward-looking statements are typically identified by words such as: believe, expect, anticipates, intends, estimates, plans, postulate, indicate and similar expressions, or are those, which, by their nature, refer to future events. Although InZinc believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. The Company cautions investors that any forward-looking statements are not guarantees of future results, performance or actions, and that actual results or actions may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, those risks and uncertainties disclosed in the Company's Management's Discussion and Analysis for the year ended December 31, 2023 filed with certain securities commissions in Canada and other information released by the Company and filed with the appropriate regulatory agencies. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Inzinc disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. All of the Company's Canadian public disclosure filings may be accessed via www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209469

FAQ

What recent discoveries were made at InZinc's Indy project?

InZinc discovered extensive barite mineralization with zinc-lead enrichment and new geological correlations linking the Indy project to the Selwyn Basin.

When is InZinc planning further exploration at the Indy project?

InZinc plans to conduct geological mapping and soil geochemistry at the Indy project in June-July 2024.

What is the significance of the Selwyn Basin to the Indy project?

The Selwyn Basin is a prolific metal-rich area, and new geological correlations suggest that similar Sedex-type zinc-lead-silver deposits could be present at InZinc's Indy project.

What changes are happening in InZinc's board of directors?

John Murphy will not seek re-election at InZinc's upcoming Annual General Meeting on May 31, 2024.

What is the stock symbol for InZinc Mining?

The stock symbol for InZinc Mining is TSXV: IZN.