Vancouver, British Columbia--(Newsfile Corp. - October 28, 2014) - Pasinex Resources Limited (CSE: PSE) (FSE: PNX) announced today that the Company will begin a 1,500 m diamond drilling program at its 100% owned Golcuk Copper Project located in Sivas Province, Turkey.
Pasinex intends to drill four to six holes on Golcuk's Main zone, and two or three holes on Golcuk's West zone (see http://pasinex.com/wp-content/uploads/2014/10/28-10-14-Pasinex-Golcuk-Second-Drill-Program.pdf for Figure 1).
Mr. Steven Williams, President and CEO of Pasinex Resources stated, "The Golcuk Copper Project holds great promise due to recent structural and alteration-mapping insights we have gained there, supported by the results of the property-wide magnetic survey. This information has helped us identify new drill targets. We look forward to unlocking the potential of this highly prospective property."
Previous drilling at Golcuk Main indicates that mineralization there occurs in layered basalts, andesites, and associated volcaniclastics, and it is considered at this stage to be of the manto type. Manto-type mineralization may be subject to both strata-bound controls, commonly sub-horizontal, and vertical to sub-vertical controls.
Golcuk West, not previously drilled, lies two kilometers to the west of Golcuk Main. It displays oxide and sulphide copper mineralization at surface, which appears to be fault-controlled.
Drilling is being conducted by Spektra Jeotek Sanayi ve Ticaret A.S., and is expected to be completed before the end of November.
Clinton Smyth, P.Geo and VP Exploration for Pasinex, is the qualified person as defined by National Instrument 43-101 who has verified the written disclosure of all scientific and technical information in this news release.
About the Golcuk Property
Pasinex acquired the Golcuk property in October 2012 from Eurasian Minerals Inc. (TSX Venture: EMX; NYSE MKT: EMXX) in an earn-in option agreement according to terms described in a Pasinex news release dated July 25, 2012.
About Pasinex
Pasinex Resources Ltd. (CSE: PSE) is a base and precious metal-focused exploration company with a particular initial priority given to building a strong 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.
On Behalf of the Board of Directors
Pasinex Resources Ltd.
"Steve Williams"
Steve Williams
President/CEO
Phone: 416 861 9659
Email: info@pasinex.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 the Golcuk Cu project in 2014, the economic potential of identified drill targets, 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.
