Consolidated Zinc Ltd. – High Grades Returned from Tres Amigos Resource Extension Drilling

High grade zinc assays obtained from infill and extensional drilling of Tres Amigos resource. Drill campaign aims to convert inferred to indicated classifications and increase resource tonnages.
Results up to 37.26% Zn + Pb (LV5040) were obtained in significant widths up to 5.65 mdh (LV5039) outside of existing JORC resource envelope.
LV5040 intercepted Tres Amigos mineralised horizon 120 m down dip of the current resource.
Results to be incorporated into resource update planned for April 2018.

Consolidated Zinc Limited (ASX:CZL) is pleased to provide an update of the latest extensional and infill resource definition drilling campaign that recommenced on 27 November, 2017 at Plomosas mine in Mexico.

High zinc assay results for massive sulphides intercepted in LV5039 and LV5040, previously announced to the market, were received along with those for several other drillholes completed since then. Tables 1 and 2 summarise the hole details and assay results received for which the better intercepts included:

LV5038 3.00m at 16.55% Zn, 5.35% Pb, 22.53 g/t Ag
LV5039 5.65m at 16.26% Zn, 7.60% Pb, 24.01 g/t Ag
LV5040 4.50m at 36.50% Zn, 0.76% Pb, 9.27 g/t Ag and 1.00m at 35.01% Zn, 0.97% Pb, 7.00 g/t Au
LV5042 2.50m at 9.22% Zn, 5.04% Pb, 16.55 g/t Ag
LV5043 2.70m at 12.00% Zn, 4.86% Pb, 19.84 g/t Ag

Several of these mineralised zones are outside of and will potentially extend the current JORC mineral resource envelope. Holes LV5038 and LV5039 tested the north-western extension of the Tres Amigos North mineralised zone with the LV5039 intercept occurring 25 metres above the resource envelope, while the mineralised unit in LV5040, occurs 75 metres below Level 7. Drilling has defined two styles of mineralisation; a feeder zone style located in the hanging wall shales to the Juarez Limestone (e.g. LV5038 and LV5039) and Juarez Limestone hosted massive sulphide units.

The results from LV5040 are particularly exciting as they represent a significant high grade target extending the Tres Amigos mineralised horizon up to 120 metres down dip within the Juarez Limestone. This zinc dominant horizon below the No. 32 orebody (as mined by ASARCO) was neither identified nor mined by previous workers.

Other intercepts were obtained in holes drilled to the west and northwest. Hole LV5043 intersected massive sulphides up dip of LV5039, showing continuity of the mineralised zone and no sign of any stoping in the area. Additional drilling is planned up-dip and lateral to LV5043 to test the extent of this zone.

Figure 1. Plan view of Plomosas work areas and Mineral Resource outlin

es.

Figure 2. Plan view of Tres Amigos drilling from Level 5 targeting extensions and infill of the Tres Amigos and Tres Amigos North resource mineralisation.

Note 1: TW represents an approximate true width of the mineralisation based on structural assessment of contact information and drill orientations. mdh: metres down hole

Note 2: TBA – Mineralisation intercepted and visually identified. Core logging and assays pending

Figure 3. Massive sulphide mineralisation intersected in LV5039 drill hole from 68.25 to 73.85 metres (5.6m); very fine-grained sphalerite overprinted by yellow to reddish sphalerite and minor galena.

Figure 4. Section AA’ of Tres Amigos drilling from Cuddy 5.4 targeting extensions and infill of the Tres Amigos and Tres Amigos North resource mineralisation. Note the outline of the resource shown is off section and 120m up dip of LV5040 intercept and will be remodelled with latest information from LV5040 and LV5038.

Figure 5. Section BB’ of Tres Amigos drilling from Cuddy 5.4 targeting extensions and infil of the Tres Amigos and Tres Amigos North resource mineralisation. Intercepts in LV5039 and LV5043 will be incorporated into the resource update.

Figure 6. Massive sulphide mineralisation intersected in LV5040 drill hole from LV5040 core with massive sulphides zone from 164.15 to 168.50 meters hosted in Juarez Limestone. Sphalerite with pyrite patches at hanging all contact. Another 1m zone from 176.05m occurs on the footwall contact

Andrew Richards

Interim Managing Director

ABOUT CONSOLIDATED ZINC

Consolidated Zinc Limited (ASX:CZL) is a minerals exploration company listed on the Australian Securities Exchange. The Company’s major focus is in Mexico where it recently acquired 51% of the exciting high grade Plomosas Zinc Lead Silver Project through its majority owned subsidiary, Minera Latin American Zinc CV SAPI. Historical mining at Plomosas between 1945 and 1974 extracted over 2 million tonnes of ore grading 22% Zn+Pb and over 80g/t Ag. Only small scale mining continued to the present day and the mineralised zones remain open at depth and along strike. The Company’s main focus is to identify and explore new zones of mineralisation within and adjacent to the known mineralisation at Plomosas with a view to identifying new mineral resources that are exploitable.

Competent Persons’ Statement

The information in this report that relates to exploration results, data collection and geological interpretation is based on information compiled by Steve Boda BSc (Hons), MAIG, MGSA, MSEG and Andrew Richards BSc (Hons), Dip Ed, MAusIMM, MAIG, MSEG, GAICD. Messrs Boda and Richards are both Members of Australian Institute of Geoscientists (AIG) and Mr Richards is also a Member of the Australasian Institute of Mining and Metallurgy (AusIMM).

Both Messrs Boda and Richards have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Messrs Boda and Richards consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Original Article: http://www.consolidatedzinc.com.au/wp-content/uploads/2018/02/140218-High-Grades-in-Tres-Amigos-North-extension-drilling.pdf

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