Final Assays From Newly Defined Tres Amigos North Drilling

High grade zinc in Tres Amigos North area confirmed in holes LV5016 and LV5018;
Final assay results returned grades over intercepts of 1.5m @ 26.92% Zn+Pb, 52.05g/t Ag and 1.85m @ 32.88% Zn+Pb, 11.07g/t Ag
Confirms potential for repetitions of ore grade mineralisation associated with the Juarez Limestone;
Drilling is ongoing to determine the scope and geometry of the mineralisation.

Consolidated Zinc Limited (ASX:CZL) is pleased to confirm the final assay results of the high grade zinc and lead mineralisation intersected in the Company’s initial six drillholes completed at the recently identified Tres Amigos North (TRN) zone (LV5013 to LV5018). This zone is found in the immediate hanging wall to the Juarez Limestone Unit and sits outside of the current high grade JORC resource envelope (Figure 1).

As previously reported, several samples from within wider intersections returned grades higher than 30% for zinc which exceeded the upper limit of the analytical methods. These had to be reassayed by a more suitable method to finalise the grades of the mineralised intercept.

Tables 1 and 2 summarise the hole details and final assay results for which the finalised intercepts are:

LV5016 1.50m at 26.33% Zn, 0.59% Pb, 52.05 g/t Ag
LV5018 1.85m at 32.60%Zn, 0.28% Pb, 11.07 g/t Ag

The TRN area represents an exciting opportunity for the Company as it is a previously untested and unmined horizon stratigraphically below the mineralised Mina Vieja Manto. As reported to the market on 30 April 2017, high grade face sampling results are located in an area that is immediately accessible by existing workings (Figures 3, 4).

Figure 1. Zinc-lead mineraliation outlined and sampled inthe areas of Tres Amigos North and Carola South underground development. These areas are outside of the current JORC (2012) mineral resource.

Mineralisation here comprises coarser grained sphalerite and lesser galena than the mineralisation related to the Mina Vieja Manto and in some ways is similar to the mineralisation intersected in hole TRSDD010, located 500m to the south, near Mina Vieja Mine (Figures 2a and 2b). Mineralogy of TRN, suggests it is a higher temperature replacement style, commonly containing late-stage pyrite overprints, which occur patchy and irregular. There is a structural complexity associated with the mineralisation at TRN, which includes tight isoclinal folding of the mineralisation, shear structures and a change in the strike orientation of mineralisation to east-west.

The position of hole LV5018 and the mineralisation it intersected suggests a down-dip continuation of the mineralisation defined by the Tres Amigos resource envelope, as shown in Figure 6 and is estimated to be 140 metres in length. This area will be further drill tested for additional extensions of mineralisation which will assist CZL in modelling the nature of mineralisation in this area and in drill targeting.

Work will continue to update and improve the geological setting and the relationship to the Tres Amigos main zone. This includes, drilling of the TRN mineralisation to scope out the extent and the geometry of the mineralisation over the next period subject to ongoing drilling results.

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: Highlighted Zn assays were resubmitted for more accurate analysis as some samples exceeded 30% Zn.

Figure 2a. Hole LV5018 147.6m, Massive sphalerite with pyrite overprint.

Figure 2b. Hole LV5016 96.8m; Granular crystals of sphalerite and minor pyrite showing similar textures to mineralisation intersected in TRSDD010.

Figure 3. Location and assay results from the rock sampling program comleted on Level 7 targeting the Tres Amigos North Area.

Figure 4. Drill traces and preliminary assay results from drillholes targeting Tres Amigos North and the face sampling grades shown in Figure 3. Cross sections A – 'A' and B – 'B' are shown in Figure 5 and 6 respectively.

Figure 5. Cross section through Tres Amigos North looking WSW showing drill traces and significant preliminary assay results to date. Note location of UG samples showed in Figure 3.

Figure 6. Schematic interpretation through the Tres Amigos zone, extending out to LV5018, which intersected mineralisation 140 metres downdip of the known mineralisation at Tres Amigos resource.

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, Minerals 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.

The information in this report that relates to Mineral Resources is based on information compiled by Mr Robert Dennis who is a Member of the Australasian Institute of Geoscientists and Australian Institute of Mining and Metallurgy. Mr Dennis is a full time employee of RungePincockMinarco Limited. Mr Dennis has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Dennis consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Original Article: http://www.consolidatedzinc.com.au/wp-content/uploads/2017/06/010617-Udated-Tres-Amigos-North-Results-FINAL.pdf

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