InZinc Reports Numerous Barite Intersections at Indy and Provides Corporate Update


Vancouver, BC – InZinc Mining Ltd. (TSX-V: IZN) (“InZinc” or the “Company”) is pleased to report abundant barite intersections from 2023 exploration drilling located 4 kilometres north of the B-9 Sedex style mineralization at the Indy project (100% interest) (“Indy” or the “Project”) in central British Columbia.  Barite is an important mineral found in abundance at the world’s largest zinc deposits.  With this barite discovery at Indy, numerous additional surface and drill samples, peripheral to and beyond the 2023 drilling area, have also been submitted for barium analysis.  These results are anticipated in late March.

InZinc is well positioned to fully-fund financially prudent exploration programs and is focused on maximizing “funds into the ground”. 

Barite and Large, Western North American Zinc Deposits

Barite mineralization is present in many, if not all, of the large sediment hosted zinc (termed Sedex) deposits in western North America. Barite is an ore component of these zinc deposits and/or is found very nearby along the same geological horizon.  For example, the world’s largest barite deposit, estimated at 1 billion tonnes, also contains one of the world’s highest grade zinc deposits (USGS, 20041) located at the Red Dog mine in northwest Alaska.

The discovery of barite has contributed to numerous Sedex discoveries.  Once barite is identified, its location and distribution can provide vectors along distinctive geological horizons, leading towards the discovery of these large zinc deposits.

Barite at Indy

Barite mineralization is present in 7 of the 9 shallow reverse circulation (RC) holes drilled in 2023 (Figures 1 & 2, Table 1).  Notably, intersections are located at, or below, a shale to debris flow geological contact (horizon) which is a common feature in Sedex zinc deposits.  The strongest and most widespread barite mineralization was intersected at the Keel target.  Highlights include:

Hole IRC23-003Hole IRC23-009
6.6% barite over 10.7 m4.9% barite over 9.1 m
and 4.9% barite over 44.2 mand 6.8% barite over 6.1 m
(above intersection includes 12.8% barite over 7.6 m)and 5.8% barite over 28.98 m
(also includes 28.2% barite over 1.5 m)(above intersection includes 10.1% barite over 6.1 m)
(also includes 20.7% barite over 1.5 m)(also includes 23.4% barite over 1.5 m)

In Sedex deposits, barite mineralization with even low levels of zinc enrichment may signify the presence of a potential zinc deposit located along trend and on the same horizon.  An intersection in drillhole IRC23-001 at the Keel target highlights this potential:

  • 10.0% barite and 0.67% zinc over 4.6 m in IRC23-001

At the Delta Horizon target (Figure 1), located 1 km northwest of Keel, rock sampling in 2019 returned 5% to 25% barite in samples across a 1.5 km long high contrast multi-element (Zn, Pb, Ba) soil sample anomaly.  The geology of the Delta Horizon is similar to Keel, with barite mineralization occurring at a shale to debris flow sedimentary geological contact.

Figure 1:  Indy Project – Main Trend Targets

Additional results, anticipated in late March, will provide further insight into the distribution of barite mineralization at the Keel and Delta targets and relationships to the 450 m long B-9 Sedex style mineralized trend which is located 4 km to the south and remains open for expansion.  InZinc is currently renewing its drill permit for a 5-year term at Indy.  In late 2023, South 32 renewed the mineral claims comprising its large land position adjoining the Indy claims.

Figure 2:  2023 RC Drilling – Plan View Detail

Corporate Update and Outlook

  • Current market capitalization is approximately $1.9 million.
  • Current 2024 working capital2 position is estimated at approximately $1.8 million.  
  • In addition, InZinc holds 7,163,698 shares of ASX listed American West Metals (“American West”).  American West recently announced an AUD$10 million financing and a planned 22,000 m drilling program at the Storm copper project in North America.   
  • Inclusive of the American West share, InZinc’s current total working capital3 is estimated at approximately $2.5 million. 
  • The most recent equity financing by the Company was completed three years ago (February, 2021) for total gross proceeds of $200,000.
  • InZinc also holds a royalty (50% NSR) on indium production from American Wests’ West Desert in Utah.  In December 2023 American West announced a maiden (JORC) indium resource at West Desert (see for details). 

Table 1:  Indy Project – 2023 Drill Hole Intersections 

RC Hole IDFrom_mTo_mWidth_mBaSO4%
IRC23-00689.9894.554.583.09ECHO N
*BaSO4 is Calculated (%BaO from Whole Rock Analysis x 233.39/153.33) & the Width-Weighted Average is Tabled.

1 USGS January 1, 2004.  The Anarraaq Zn-Pb-Ag and barite deposit, northern Alaska: Evidence for replacement of carbonate by barite and sulfides.
2 As of March 1, 2024.  Working capital includes cash and cash equivalents and estimated BC METC rebate in 2024.
3 Total working capital includes cash and cash equivalents, marketable securities and estimated BC METC rebate in 2024.

About InZinc

InZinc is an active explorer and, through its Indy project (100% interest), equity and royalty interests, is exposed to a diverse portfolio of active North American base metals and precious metals projects.  The Company has discovered and continues to explore for expansion of near surface zinc mineralization at the easily accessible Indy project located in a new and under-explored mineral region of central British Columbia, Canada.  A Canadian subsidiary of South32 (ASX, LSE, JSE) became a major tenure holder in the belt by staking approximately 200 km2 of adjacent claims in late 2021. InZinc has a significant equity investment in American West Metals (ASX) which is advancing multiple North American base metals projects.  In addition, InZinc has a production royalty and will receive 50% of the revenue (NSR) from the sale of indium mined from American West’s West Desert project.

InZinc Mining Ltd.

Wayne Hubert


Chief Executive Officer
Phone: 604.687.7211

For further information contact :
Joyce Musial
Vice President, Corporate Affairs
Phone: 604.317.2728

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