Workflow
High - grade zinc deposits exploration and development
icon
Search documents
Pasinex Secures Path to 100% Ownership of Sarıkaya Zinc Project
Globenewswire· 2025-09-15 11:30
Core Viewpoint - Pasinex Resources Limited is advancing towards full ownership of the Sarıkaya zinc project in Turkey through an addendum to its agreement with Abdullah Aydın, which aligns payments with project milestones and sets the stage for further exploration and development [1][2][10]. Agreement Details - The revised agreement facilitates the share transfer of Aydın Teknik Madencilik ve İnşaat Sanayi ve Ticaret A.Ş. to Pasinex Arama, contingent upon approvals from Türkiye's General Directorate of Mining and Petroleum Affairs and other corporate steps [2][3]. - A total of USD 2,250,000 remains payable by Pasinex Arama, with a USD 250,000 payment due by September 30, 2025, to trigger the share transfer [9]. Next Steps - Following the share transfer, Aydın Teknik will be wholly owned by Pasinex Arama, which plans to extend the existing adit to access a newly identified high-grade zinc zone (30-50% zinc) [5][6]. - Systematic mapping, sampling, and geophysical surveys will be initiated to define drill targets and identify additional adit locations, supporting the development of a refined geological model for the Sarıkaya project [6]. Project Potential - The Sarıkaya project is characterized as a high-potential addition to Pasinex's zinc portfolio, located in a historically rich mining area in central Türkiye, approximately 300 km from major ports [7]. - The project hosts high-grade, carbonate-hosted zinc mineralization with significant discovery potential, as no modern geological surveys have been conducted to date [8]. Management Commentary - Management emphasizes the strategic importance of the Sarıkaya project, viewing it as a cornerstone for future growth and value generation for shareholders, complementing existing operations at the Pinargözü mine [10]. Company Overview - Pasinex Resources Limited is a zinc-focused mining company based in Toronto, Canada, owning the producing Pinargozu high-grade zinc mine and holding a 51% interest in the Gunman Project in Nevada [11][12].