Pasinex Advances Exploration and Development at Sarikaya Zinc Project in Türkiye
Limited surface exposure prompted soil sampling across two priority areas to help identify concealed mineralization.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Pasinex Resources (PSXRF) completed its underground drilling program at Sarıkaya in Türkiye and anticipates production by the end of 2026. The program finished on October 19, 2026, with 30 holes totaling 2,199.4 metres; assays of mineralized core intervals remain pending.
Surface sampling returned more than 1% zinc in 24 of 104 samples, including nine above 10% and a maximum of 40%. Mapping identified an approximately 700-metre mineralized trend. Results from 273 soil samples are pending. An 11-hole surface drilling program targeting approximately 500–700 metres began September 30; two holes totaling 200 metres were complete by October 21.
Decline development reached approximately 80 metres toward a planned 95-metre target by October 21. Pasinex plans to substantially complete underground preparation and development by the end of October 2026.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Pasinex anticipates Sarıkaya production by the end of 2026.
- Minor pointSurface samples returned up to 40% zinc; 24 of 104 exceeded 1%, including nine above 10%.
- Minor pointMapped mineralization and alteration define an approximately 700-metre trend beyond historical workings.
- Minor pointUnderground drilling completed 30 holes totaling 2,199.4 metres on October 19, 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.Surface drilling targets 11 holes totaling approximately 500–700 metres; two totaling 200 metres completed by October 21.
5 minor points
- Minor pointSoil sampling completed 273 samples across two priority target areas.
- Minor pointDecline development reached approximately 80 metres toward a planned 95-metre target by October 21.
- Minor pointGround support reinforced approximately 150 metres of the existing 175-metre gallery.
- Minor pointUnderground development completed approximately 73 metres to establish three drilling locations.
- Minor point. Forward-looking: it has not happened yet and may not happen.Underground preparation and development are planned substantially complete by the end of October 2026.
Negative
- Minor pointUnderground drilling assay results remain pending for submitted samples from mineralized intervals.
- Minor pointSoil sample results remain pending from ALS Laboratories.
AI-generated analysis. How Rhea-AI works. Not financial advice.
2,199-Metre Underground Drilling Program Completed; Surface Rock Sampling Returns up to
Toronto, Ontario--(Newsfile Corp. - October 26, 2026) - Pasinex Resources Limited (CSE: PSE) (FSE: PNX) ("Pasinex" or the "Company"), a growing zinc-focused exploration and development mining company, is pleased to provide the following exploration and development update.
At Sarıkaya, the 2026 exploration program combines systematic geological mapping, surface rock and soil geochemistry, underground diamond drilling from the historic +1550 Gallery; together with a newly commenced surface drilling program. Together, these programs are designed to better define the geometry, continuity and geological controls of zinc mineralization found across the license, and thereby to determine whether the known occurrences form part of a larger, continuous mineralized system.
In parallel, the Company is completing underground development toward the historical zinc sulphide production area, with production anticipated to commence by the end of 2026.
Sarıkaya Highlights
- High-grade zinc in rock samples: 109 rock samples were collected. 24 of the 104 surface samples returned greater than
1% Zn, including 9 greater than10% Zn and a maximum of40% Zn. - 700m mineralized trend: Mapped zinc mineralization and alteration follow lithological boundaries and bedding-related structures well beyond the historical workings.
- Underground drilling completed: The underground diamond drilling program from the +1550 Gallery was completed on October 19, 2026, comprising 30 holes totaling 2,199.4 metres from three drilling locations. Core samples from mineralized intervals have been submitted to ALS Laboratories; assay results are pending.
- Surface drilling underway: An 11-hole, approximately 500-700 metre surface diamond drilling program commenced on September 30, 2026; two holes totaling 200 metres had been completed as of October 21, 2026.
- Soil geochemistry: 273 soil samples were collected on a 100 m × 100 m grid over two priority target areas; results are pending from ALS Laboratories.
- Path to production: Decline development is advancing toward the historical zinc sulphide production area, with production anticipated to commence by the end of 2026.
Project Overview
Pasinex is advancing Sarıkaya from a historically small-scale mining property toward a modern exploration and development project based on systematic geological, geochemical and drilling programs.
The Company completed the acquisition of
The property contains numerous zinc-bearing outcrops, historical workings and previously mined areas. Historical exploration and mining have demonstrated the presence of both zinc carbonate and zinc sulphide mineralization.
Surface Rock Sampling Returns High-Grade Zinc Results
During 2026, Pasinex commenced systematic geological mapping across the Sarıkaya license area to improve the understanding of lithology, structure, alteration and mineralization; and to generate priority exploration targets. As part of this work, 109 rock samples were collected from mineralized outcrops and underground adits identified during geological mapping.
Figure 1: Sarıkaya rock sample results by zinc grade – license overview (left) and target areas A and B (centre and right), showing the mapped zinc anomalies.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3243/320659_d238bedaf4535a75_001full.jpg
At surface, 24 of 104 samples returned greater than
Importantly, the 2026 geological mapping program (the first systematic exploration programme across the property) has shown that mineralization and associated alteration are not restricted to the historically recognized workings. Zinc mineralization and alteration have been observed along lithological boundaries and bedding-related structures, with the mapped occurrences defining an approximately 700m mineralized trend.
The Company believes this broader distribution of surface mineralization warrants further testing, particularly in areas where mineralized structures continue beneath soil or other surface cover.
Soil Geochemistry Targets Concealed Mineralization
Surface exposure is limited in parts of the Sarıkaya license area. To assist in identifying mineralized structures that may not be exposed at surface, Pasinex completed a systematic soil geochemistry program across two priority target areas.
A total of 273 soil samples were collected on a 100 m × 100 m grid, representing the planned 2026 soil sampling program for these target areas.
Figure 2: Sarıkaya soil sampling program on a 100 m × 100 m grid.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3243/320659_d238bedaf4535a75_002full.jpg
The samples have been submitted to ALS Laboratories for multi-element analysis. Results remain pending. The soil program is designed to complement geological mapping and surface rock sampling by identifying geochemical anomalies that may indicate extensions of zinc mineralization beneath soil cover.
Underground Diamond Drilling Program Completed
Pasinex has conducted a systematic underground diamond drilling program from the existing +1550 Gallery. The primary objective of the program was to test the down-dip and lateral continuity of previously mined zinc mineralization and to improve the Company's understanding of the geometry and geological controls of the mineralized system.
The underground drilling program was completed on October 19, 2026, with a total of 30 underground drill holes totaling 2,199.4 metres drilled from three locations in the +1550 Gallery:
- First drilling location: 16 holes totaling 1,384.4 metres;
- Second drilling location: 7 holes totaling 418.0 metres; and
- Third drilling location: 7 holes totaling 397.0 metres.
Figure 3: Plan view (left) and oblique view (right) of underground drill holes completed from the +1550 Gallery.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3243/320659_d238bedaf4535a75_003full.jpg
Drill core has been logged and photographed, and samples from mineralized intervals have been submitted to ALS Laboratories for multi-element analysis. Assay results are pending and will be reported once received and reviewed by the Company.
Surface Diamond Drilling Program Underway
The integration of geological mapping, surface geochemistry and underground drilling has allowed Pasinex to define priority areas for surface drilling. A surface diamond drilling program comprising 11 planned holes totaling approximately 500-700 metres has been designed across two target areas.
Figure 4: Planned surface drill hole locations in target areas A and B, with rock sample results.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3243/320659_d238bedaf4535a75_004full.jpg
The program is intended to test the down-dip and along-strike continuity of zinc mineralization identified at surface and supported by geological and geochemical results. Surface diamond drilling commenced on September 30, 2026. As of October 21, 2026, a total of two surface drill holes totaling 200 metres had been completed.
Underground Development and Path to Production
Alongside exploration, Pasinex is advancing underground development and ground support activities at the +1550 Gallery to prepare the project for planned near-term production.
At the +1550 Gallery, ground support has been reinforced over approximately 150 metres of the existing 175-metre gallery. A total of approximately 73 metres of underground development has been completed to establish the three underground drilling locations. As of October 21, 2026, approximately 80 metres of decline development had been completed toward the planned 95 metres development target.
Figure 5: Oblique view of the +1550 Gallery, 2026 development and planned production area.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3243/320659_d238bedaf4535a75_005full.jpg
Underground preparation and development works are planned to be substantially completed by the end of October 2026, with production anticipated to commence by the end of 2026.
Sarıkaya Next Steps
- Receipt of assay results from the 30-hole underground drilling program (ALS Laboratories);
- Receipt of soil geochemistry results from 273 samples across two priority target areas;
- Completion of the 11-hole surface drilling program; and
- Commencement of production, anticipated by the end of 2026.
Sampling, QA/QC and Analytical Procedures
Drill core samples from the Sarıkaya underground program have been submitted to ALS Laboratories together with inserted quality-control samples, including blanks, certified reference materials and duplicates. QA/QC results will be reported together with the assay results.
Nine quality-control samples were inserted into the rock sample stream alongside the 109 rock samples: three blanks, three certified reference materials and three pulp duplicates. Thirty-one quality-control samples were inserted into the soil sample stream alongside the 273 soil samples: six blanks, seventeen certified reference materials and eight field duplicates.
Annual General Meeting
The Company's annual general meeting of shareholders ("AGM") is scheduled to be held on December 17, 2026, at 11:00 a.m. Eastern Time at 82 Richmond Street East, Toronto, Ontario, M5C 1P1. The record date for determining shareholders entitled to vote at the AGM has been set as November 12, 2026. Shareholders will be asked to elect directors, appoint auditors, and consider other customary business.
Qualified Person
Jonathan Challis, a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer, is the Qualified Person ("QP") as defined by National Instrument 43-101 ("NI 43-101") for the scientific and technical information contained in this news release, excluding information relating to the Gunman Project. Mr. Challis has reviewed and approved the scientific and technical information contained herein. Mr. Challis is a Director of the Company and Chair of Pasinex Arama.
Cautionary Note Regarding Production
The Company's production decision at the Sarikaya mine is not based on a feasibility study of mineral reserves demonstrating economic and technical viability. Sarikaya will be placed into production without first establishing mineral reserves supported by a NI 43-101 technical report and completing a feasibility study.
The development and operation of a mine without established mineral reserves and a feasibility study involves a higher degree of economic and technical risk and uncertainty. Historically, mining operations placed into production without first establishing mineral reserves supported by a technical report and completing a feasibility study have a much higher risk of economic or technical failure.
Accordingly, there is increased uncertainty regarding the economic and technical viability of the Sarikaya operation. Actual results, including ore grades, production levels, operating costs, mine life, profitability, geological continuity and mining conditions, may differ materially from the Company's estimates and expectations.
About Pasinex
Pasinex Resources Limited is a growing, zinc-focused mining company based in Toronto, Canada. Its wholly owned subsidiary, Horzum A.Ş., owns and operates the producing Pinargozu high-grade zinc mine in Türkiye.
Pasinex also owns
Led by an experienced management team with extensive experience in mineral exploration and mine development, Pasinex is focused on acquiring, developing and operating high-grade zinc assets while maintaining high standards of safety, health and environmental responsibility.
Visit our website at www.pasinex.com.
PASINEX RESOURCES LIMITED
For further information:
Aydın Şen
General Manager – Türkiye
WhatsApp: +90 533.721.2837
Email: aydin.sen@pasinex.com
Evan White
Manager of Corporate Communications
Phone: +1 416.906.3498
Email: evan.white@pasinex.com
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 include statements regarding exploration and drilling programs, the timing and receipt of assay results, mine development, the timing of production, future operating performance, financing requirements and development of the Company's mineral properties. Actual results may differ materially as a result of commodity prices, geological and mining conditions, operating costs, availability of financing, exploration results, regulatory approvals and other risks described in the Company's public disclosure. Readers should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320659
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What zinc grades did Pasinex report from Sarıkaya surface sampling?
Surface sampling returned a maximum of 40% zinc, with 24 of 104 samples exceeding 1% zinc and nine exceeding 10%. The highest reported surface results were 40%, 39%, 38%, 31% and 25% zinc.
When does Pasinex expect production to start at Sarıkaya?
Pasinex anticipates production at Sarıkaya by the end of 2026. Underground preparation and development are planned to be substantially completed by the end of October 2026, with decline development advancing toward the historical zinc sulphide production area.
What is Pasinex testing with the Sarıkaya underground drilling program?
The underground program was designed to test whether previously mined zinc mineralization continues laterally and down its slope. Drilling from three locations in the existing +1550 Gallery also aimed to improve understanding of the mineralized system's shape and geological controls.