Pasinex Resources Clarifies Technical Disclosure
TORONTO, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Pasinex Resources Limited (CSE: PSE) (FSE: PNX) (“the Company”) today announces that as a result of a review by the British Columbia Securities Commission (“BCSC”), the Company is issuing the following news release to clarify its disclosure.
The Company filed a technical report for the Pinargozu Mine, dated December 20, 2017 (the "Technical Report"). The issues identified by the BCSC involve disclosure made by the Company that is not fully compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The Company would like to advise that the mineral resources disclosed are not supported by a compliant NI 43-101 technical report and Form 43-101F1 and they should not be relied upon until they can be supported by a compliant technical report.
The Company intends to file an updated technical report on the Pinargozu Mine to clarify and correct previous disclosure that were not compliant with NI 43-101. The Company will be working with its independent geological consultant, CSA Global Pty Ltd., to prepare and file the updated technical report.
This news release has been reviewed and approved by John Barry, M.Sc., P. Geo., who is the Company’s Vice President of Exploration and a qualified person under the definitions established by NI 43-101.
Pasinex Resources Limited is a Toronto-based mining company which owns 50% of the producing Pinargozu high grade zinc mine and, under a Direct Shipping Program, sells to zinc smelters / refiners from its mine site in Turkey. The Company also holds an option to acquire 80% of the Gunman high-grade zinc exploration project in Nevada. Pasinex has a strong technical management team with many years of experience in mineral exploration and mining project development. The mission of Pasinex is to build a mid-tier zinc company based on its mining and exploration projects in Turkey and Nevada.
On Behalf of the Board of Directors
PASINEX RESOURCES LTD.
|Steve Williams||Evan White|
|President/CEO||Manager of Corporate Communications|
|Phone: 416 861 9659||Phone: +1 416.906.3498|
The CSE does not accept responsibility for the adequacy or accuracy of this news release.
This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.
All statements within, other than statements of historical fact, are to be considered forward looking. Although Pasinex Resources Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: all exploration drilling results, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.