TORONTO, ON / ACCESSWIRE / January 8, 2016 / Pasinex Resources Limited (CSE: PSE) (FSE: PNX.F) (the "Company" or "Pasinex") has completed another lot-sale of 1,500 tonnes wet weight (1,400 tonnes dry weight) of high grade zinc mineral material (35.9% Zn) from its Pinargozu zinc mine in Turkey (50% attributable to Pasinex through the Horzum JV). This lot represents over 1,100,000 lbs of contained zinc metal and together with the previously announced lot sales from Pinargozu in November, now brings total annual production in 2015 to 15,406 tonnes (wet weight) of zinc mineral material with about 10,100,000 lbs of contained zinc.
Steve Williams, President and CEO of Pasinex commented, "We continue to mine and sell high grade zinc mineral material from our Pinargozu mine in southern Turkey. The mine production is now stabilizing at approximately 60 tonnes per day. We therefore plan a monthly lot sale of around 1,500 tonnes which will increase cash flow and keep mine development and near-mine exploration moving forward. Pasinex continues to deliver on its targets even in these very challenging times for the mining industry. Consistent production from this small, but high-grade mine provides the perfect platform to advance our project. I am confident 2016 will be a good year for Pasinex and our shareholders."
About Pasinex
Pasinex Resources Limited (CSE: PSE) (FSE: PNX) is a base-metal and precious-metal focused Company with a goal to build a mid-tier international mining company. The Company's initial priority is to build a prospective portfolio of base-metal opportunities in Turkey. The Company has a strong technical management team with many years of experience in mineral exploration and mining project development. The focus of Pasinex is to build a mid-tier zinc company based on their Turkey zinc projects.
The Pinargozu mine is included in the 50-50 company, Horzum Arama Isletme AS (Horzum AS), which is a corporate joint venture between Pasinex and Turkish mining house, Akmetal Madencilik San ve Tic. AS (Akmetal AS). Akmetal A.S is one of Turkey's largest family-owned conglomerates with the past-producing Horzum zinc Mine nearby.
Visit our web site at: www.pasinex.com
On Behalf of the Board of Directors
PASINEX RESOURCES LTD.
Steve Williams
President/CEO
Phone: 416.861.9659 / 705.292.8116
Email: info@pasinex.com
Cathy Hume
CHF Investor Relations
Phone: 416.868.1079 ext. 231
Email: cathy@chfir.com
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: the forgoing ability to finance exploration in order to further develop the Pinargozu Property, all exploration drilling results, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate. Readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
SOURCE: Pasinex Resources Limited
