Pasinex Announces Option to Acquire 80% of the Gunman High-Grade Zinc (Silver) Project in Nevada and Substantially Increases the Surrounding Ground Holding
Pasinex Resources Limited is pleased to announce that, through its wholly-owned subsidiary Pasinex Resources Nevada Limited, it has entered into an option agreement with Cypress Development Corp (TSX.V: CYP) and Silcom Systems Inc. to earn up to an 80% interest in the Gunman zinc project located in White Pine County, Nevada (“Option Agreement”). In essence, Pasinex has acquired the option by honouring the terms of Silcom’s original option agreement to acquire an 80% interest from Cypress in the Gunman zinc project.
As of March 2018, all drilling completed on the Gunman property to-date by all operators is 114 reverse circulation (RC) holes for 42,155 feet and 17 core holes totaling 11,516 feet for a total of 53,671 feet of drilling in 131 holes. The project is located within the eastern portion of White Pine County, Nevada. The report is intended to provide a detailed accounting of all modern exploration at the Gunman property and to provide interpretations of the compiled data for the purposes of proposing additional development and exploration work for zinc and silver mineralization on the property.