IRW-Press: Pasinex Resources Limited Announces New Mineralisation After Receipt Of Magnetic Survey And Rock Sampling Results From Its Golcuk Property In Turkey



Published on 18 December 2013

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by Press Office

(IRW-PRESS and WireNews+Co)

Vienna, Austria


Pasinex Resources Ltd. has received the bulk of the results of the ground magnetics survey in progress over its Golcuk licence in the province of Sivas in Turkey.

The results show considerable variability in the magnetic signatures of the rock units constituting the massive volcanic and volcaniclastic rocks within which the multiple centres of copper mineralization at Golcuk occur and a much lower degree of variability within the sediments which overlie this package.

The magnetic patterns over the volcanic rocks should materially assist Pasinex in mapping their subsurface locations, and in particular, the subsurface locations of those strata mineralized in copper.

Pasinex's website has figures showing the latest geological mapping at Golcuk, produced prior to receipt of the magnetic survey results, over which have been plotted the locations of various centres of copper mineralization identified at Golcuk, and magnetic survey results received to date, as well as the centres of copper mineralization.

The correspondence of six of the nine centres of copper mineralization at Golcuk with the upper contact of the volcaniclastic rocks (basaltic) unit is evident. The entire length of this contact is therefore regarded by Pasinex as a prospective location for copper accumulation, and, therefore, an exploration target. The magnetic survey results, in conjunction with a digital elevation model of the licence and further rock sampling, will be used to bring this target, more than 10 kilometres in length, to drill-ready status.

Pasinex notes that copper also occurs in potentially economic concentrations in three other stratigraphic levels on the Golcuk licence, namely in the sediments (at Funlu and in historical pits dug in the centre of the licence), in the basaltic lava-basaltic agglomerate unit at New West and in the agglomerate-tuff-limestone-mudstone unit at New South.

Pasinex routinely conducts surface rock sampling in the course of its geological mapping. A number of rock samples recently collected by Pasinex returned values highly anomalous in copper in the extreme east of the Golcuk licence in an area now named Funlu. Copper assays returned from Funlu outcrop samples, as determined in Pasinex's Niton XRF laboratory in Turkey, are available on the company's website. Outcrop samples were predominantly of volcaniclastic rocks.

With the identification of the Funlu prospect, Pasinex has been able to show that the entire width of the Golcuk licence, a distance of 7.6 kilometres from Funlu in the east to New West in the west, is mineralized in copper, and therefore meriting subsurface exploration by drilling for economic volumes of this mineralization where evidence of copper enhancements are evident at surface and can be traced in the subsurface by geophysical methods such as magnetics.

Steve Williams, chief executive officer of Pasinex, commented: 'This latest information continues to highlight that Golcuk is a very prospective target for copper. We are seeing copper mineralization all around the Golcuk property. Pasinex is very focused on targeting one area in the Golcuk property and establishing a maiden resources there. With that we can then push on to project development at Golcuk and exploring for the larger opportunity in front of us at Golcuk.'

Clinton Smyth, PGeo, vice-president of 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.

We seek Safe Harbor.

About Pasinex

Pasinex Resources Limited (CNSX: 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.

A 100% interest in the Golcuk property was acquired by Pasinex Resources Limited, subject to completing payments and a 2.9% NSR royalty through an option agreement with Eurasian Minerals Inc. (TSX.V : EMX, NYSE : EMXX), as outlined in Pasinex News Releases on July 25th, 2012 and February 12th, 2013.

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 CNSX 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 reliance on sub-surface magnetic patterns, the positive outcome of exploration targets identified, the potentially economic concentrations of copper at Funlu, the ability to move the Golcuk Project forward based on ability to finance and the availability of capital, market prices, exploration 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.


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Posted 2013-12-18 09:28:00