Pasinex Receives MAPEG Approval for Horzum AS; Announces 1,000-Metre Development Plan for Pinargözü Mine
Summarize this article with:
Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.TORONTO, Dec. 12, 2025 (GLOBE NEWSWIRE) — Pasinex Resources Limited (CSE: PSE; FSE: PNX) (“Pasinex” or the “Company”) is pleased to announce that Türkiye’s General Directorate of Mining and Petroleum Affairs (“MAPEG”) has approved the transfer of shares in Horzum Arama ve Madencilik AŞ (“Horzum AS”) from Kurmel Madencilik to Pasinex Arama ve Madencilik AŞ (“Pasinex Arama”).Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.With this approval, Pasinex Arama now holds 100 percent ownership of Horzum AS, with final corporate registration procedures expected to be completed by December 31, 2025. Horzum AS operates the high-grade Pinargözü zinc mine in Adana Province, Türkiye. Following the share transfer, the Horzum AS Board of Directors will convene to elect new members and formally initiate the Company’s 2026 operational plan.Development Plan: Targeting Depth and ContinuityGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Pasinex has finalized a comprehensive development plan designed to expand production capacity and access deeper high-grade mineralization. Key initiatives include:Geological Potential and ExplorationThe Pinargözü mine is a carbonate replacement deposit (CRD), characterized by exceptionally high-grade zinc mineralization (historically selling over 150,000,000 lbs of zinc at a grade of 31-52% zinc as commercially assayed in the form of zinc sulphide material and zinc carbonate material). The upcoming program focuses on two primary exploration opportunities.Management CommentaryDr. Larry Seeley, Executive Chairman of Pasinex, commented, “Receiving MAPEG approval is a transformative milestone, granting Pasinex full control over the Pinargözü asset. With 100 percent ownership secured, we are immediately moving to unlock the mine’s deeper potential. Our new 1,000-metre adit will not only provide access to the high-grade sulphide zones we have identified at depth but will also pass through prospective marble-altered zones, offering immediate discovery potential during development. We are confident that this accelerated approach positions us to extend the mine life and drive significant value for our shareholders.”Qualified PersonJonathan Challis, a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer, is the Qualified Person as defined by NI 43-101 for the scientific and technical information in this news release. Mr. Challis has reviewed and approved the scientific and technical information contained in this news release. Mr. Challis is a Director of the Company.Cautionary NoteThe Company has not completed a current technical report that includes a mineral resource estimate as defined by the Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council, and procedures for classifying mineralization were not undertaken within the context of National Instrument 43-101 (“NI 43-101”). The Company has no intention of completing a NI 43-101 compliant technical report at this time.Horzum AS has not followed NI 43-101 quality assurance and quality control procedures for its exploration work and has not used an independent third-party laboratory for assay analysis. Horzum AS uses Niton XLT3 model handheld X-ray fluorescence analyzers (“XRF”) for zinc grade control and internal decision-making. Calibration of the XRF analyzers are carried out annually at the registered Niton locations. Independent laboratory assays are conducted for all sales.About PasinexPasinex Resources Limited is a growing, zinc-focused mining company based in Toronto, Canada. Through its wholly owned subsidiary, Pasinex Arama, the Company has secured 100 percent ownership of Horzum AS, subject to final corporate registration procedures. Horzum AS owns and operates the producing Pinargözü high-grade zinc mine in Türkiye, selling directly to zinc smelters and refiners via commodity brokers.Pasinex owns 100% of Sarıkaya Group IV lead-zinc operating license in Kayseri Province, Türkiye, representing significant potential for near-term profitability and major zinc discoveries.Pasinex also holds a 51 percent interest in the Gunman Project, a high-grade zinc exploration project located in Nevada.Led by a seasoned management team with extensive experience in mineral exploration and mine development, Pasinex’s mission is to explore and extract high-grade material, driving growth and creating value for shareholders, employees, and local communities, while maintaining the highest standards of safety, health, and environmental responsibility.Visit our website at www.pasinex.com.On Behalf of the Board of DirectorsPASINEX RESOURCES LIMITED“Ian D. Atacan”The CSE 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 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 believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee 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.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.