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Pasinex Releases NI 43-101 Technical Report on its Golcuk Copper Project in Sivas Province, Turkey

C.PSE

VANCOUVER, July 30, 2013 /CNW/ - Pasinex Resources Limited (CNSX: PSE) (FSE: PNX) is pleased to report the release of a National Instrument 43 -101 Technical Report ("Technical Report") on its Golcuk Copper Project, (the "Project"), located in the Sivas Province of north-central Turkey.  The Project occupies an area of 40 square kilometers centered around surface and sub-surface copper mineralization which occurs as disseminations, veins, and stockworks in a layered package of andesite, basalt, and associated volcaniclastics.

Technical Report Highlights

  • Pasinex's Golcuk license clearly covers an under-explored area with considerable potential for the discovery of economic deposits of copper. It has clearly not yet been subjected to 20th or 21st century best-practice exploration methods, and therefore constitutes an exploration property of considerable merit.
  • The Golcuk deposit is typical of what are known as "Basaltic Copper" or "Volcanic Cu red-bed" type deposits. Similar type deposits include the copper deposits of the Keweenaw Peninsula, in upper state Michigan, USA and the Sustut deposit in BC, Canada. The copper mines from the Keweenaw Peninsula produced over 11 billion pounds of native copper between 1854 and 1976. Sustut is a resource of approximately 5Mt @ 2% copper
  • The Golcuk property has considerable potential for discovery of new centres of mineralization not contiguous with the existing known mineralization.

The Technical Report recommends a budget of US $800,000 for the next phase of exploration on the Golcuk property, divided between airborne magnetics, soil sampling, geological mapping and drilling.

The Technical Report will be filed on Sedar as well as on the Pasinex website.

NI 43-101 Disclosure

Brian H. King Pr. Sci. Nat is the Qualified Person responsible for the Technical Report above.

Clinton Smyth, P.Geo and VP 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.

About the Golcuk Project

Golcuk is a copper exploration project located in the province of Sivas, Turkey which encompasses one exploration license that covers 4,000 hectares. The project is situated within the Eastern Pontides Metallogenic Belt of northeast Turkey and was first discovered by the Mines Bureau of Turkey and later explored by Eurasian Minerals Inc. (TSXV: EMX) (NYSE: EMXX) and a Turkish minerals group Turmenka Madencilik Sanavi ve Ticaret A.S.  The Project is currently under option agreement between Eurasian Minerals and Pasinex Resources whereby Pasinex can acquire 100% of the Project with Eurasian retaining a 2.9% Net Smelter Royalty (NSR). Complete details on the option agreement can be seen by viewing the press releases dated July 25th , 2012 and February 12th, 2013  on  the Company's website: http://www.pasinex.com/press-releases/

About Pasinex

Pasinex Resources Ltd. (CNSX: PSE) (FSE: PNX) is a base and precious metal focused exploration company with priority given to building a strong portfolio of base metal exploration opportunities in Turkey. Pasinex's key projects are the Golcuk Copper-Silver Project located in Sivas, Turkey, and the Joint Venture, Horzum Zinc-Lead Project with Akmetal Group in Adana, Turkey. The company is led by an experienced team with many years of experience in both in the mining and mineral exploration industries around the world.

On Behalf of the Board of Directors

PASINEX RESOURCES LTD.

"Steve Williams"  
President/CEO

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 market prices, continued availability of capital and financing, 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.

SOURCE: Pasinex Resources Ltd.

Steve Williams
President/CEO
Phone: 416 861 9659  Email: info@pasinex.com

Copyright CNW Group 2013

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