Sarıkaya Zinc Project
Sarıkaya is a high-grade, carbonate-hosted zinc project in Kayseri Province, Türkiye. With zinc grades ranging from 30% to 50% identified by small scale mining in 2025 and numerous high-grade zinc outcrops. Sarıkaya has the potential to become a major new source of direct shipping ore for Pasinex. The project is strategically located near existing operations at Pinargözü mine and benefits from established exploration and mining team of Horzum AS and Pasinex AS in Turkiye along with a long mining tradition in the Develi region.
Sarıkaya offers strong near-term and long-term value with high zinc grades. adjunct to existing roads, electricity and water at the License boundary
Why Sarıkaya matters
- High-grade zinc mineralization accessible near surface, ideal for direct shipping with low processing costs
- Strong synergy with Pasinex’s nearby Pinargözü mine, leveraging the same local mining team and expertise
- Positioned for near-term production with a clear development plan and permitting in place
- Growth potential supported by systematic exploration and a long mineralized fault trend that remains largely untested
Geology and mineralization
- Sarıkaya hosts high grade, carbonate hosted zinc mineralization. Mineralization is fault controlled with local karstic open space fillings
- Zinc carbonate outcrops occur along an approximately one kilometer long fault. Limited historical work was followed by small scale mining, with modern systematic surveys only now commencing
Ownership and agreement
- The Sarıkaya license is held by Aydın Teknik Madencilik ve İnşaat Sanayi ve Ticaret A.Ş.
- Pasinex Arama entered into an Option and Purchase Agreement in October 2024 to acquire 100% of Aydın Teknik for US$2.6M.
US$350,000 has been paid towards the purchase price by August 2025. - An Addendum signed in September 2025 provides a clear pathway to full ownership:
- US$250,000 payment due September 30, 2025 triggers share transfer (subject to MAPEG approval)
- US$2,000,000 pledge over the shares, with staged installments through June 30, 2027
- Once approvals and registrations are complete, Pasinex will own 100% of Aydın Teknik and the Sarıkaya license.
Work to date
- 2024: Exploration adit opened; high-grade sulphide identified beneath carbonate outcrops
- A 90 meter adit will commence immediately in Q4 of 2025 towards an identified high grade zinc ore location (at a range of 30 to 40 % zinc) and mining is expected to start in Q1-Q2, 2026.
- A 300 meter adit is being contemplated towards a high-grade ore zone after further exploration and drilling is conducted.
Next steps
- Adit extension and mine preparation: Complete the extension and begin accessing the high-grade zone. Work scheduled to start in Q4 2025, with mining targeted for Q1–Q2 2026
- Exploration program: Mapping, sampling, and geophysics led by Pasinex Arama and Thalex Geological Services to define drill targets and additional adit sites
- Underground drilling: Guided by a refined geological model, supporting an expanded mining plan in later phases
- Secure MAPEG approval and complete share transfer in Q4 of 2025.
Location and infrastructure
- Situated in central Türkiye near Develi, in the country’s most important carbonate-hosted zinc-lead belt
- Approximately 300 km to the Port of Mersin and to Adana, and a two-hour drive from Pinargözü
- Access to paved roads, electricity, water, and skilled local mining services
Outlook
Sarıkaya is designed to deliver both near-term cash flow and long-term discovery upside. With MAPEG approval pending and mine development steps clearly defined, Pasinex is positioning Sarıkaya as a cornerstone asset in its high-grade zinc portfolio.
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Cautionary note
No current NI 43‑101 mineral resource estimate exists for Sarıkaya. Certain statements on this page are forward looking and subject to risks and uncertainties including project approvals, financing, exploration success, and market conditions. Readers should review the Company’s continuous disclosure filings for additional information.