Zincore's Dolores Copper Porphyry Increases in Size-Higher Grades Encountered
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/11/12 -- Zincore Metals Inc. (TSX: ZNC)(LMA: ZNC) ('Zincore' or the 'Company') is pleased to report that it has discovered high grade copper mineralization in an undrilled area of the Company's 100%-owned, Dolores copper porphyry property located in the prolific Yauri-Andahuaylas Copper District in southern Peru. New trench results include 0.71% Cu Equivalent(i) over a twenty-nine metre trench, located 450 metres and 1 km away from holes DOL-10 and DOL-9 respectively, two of the most highly prospective holes drilled on the property to date.(ii)
For a complete list of results, please see Table One below. To view a map showing the location of the Dolores drill holes and trench, please click here: http://www.zincoremetals.com/en/projects/dolores_map.php or visit our website at www.zincoremetals.com.
Zincore CEO and President, Jorge Benavides, commented 'We are very pleased with these trench results as they confirm three important facts. First, the mineralization is hosted in the same altered quartz diorite porphyry cut in holes DOL-9 and DOL-10. This indicates that the trench area is part of the same system where we have achieved excellent drill results. Second, all samples in the trench were mineralized which indicates that mineralization extends beyond the outcrop and into the surrounding areas. Finally, the trench is 450 metres south of hole DOL-10 and a full one kilometre west of hole DOL-9. This confirms that Dolores is a large system, similar to the copper porphyries being developed in the area such as Xstrata's Las Bambas, HudBay's Constancia and First Quantum's Haquira.'
Mr. Benavides added 'As important, the values discovered in the trench are considerably higher than what we have seen in the holes drilled so far and the mineralization in the trench is made of primary sulphides. As such, we are vectoring into the heart of the mineralized porphyry. In preparation for determining our next drill targets, trenching will resume once local farmers finish their agricultural harvest, as per our agreement with the local community'.
The trench is located 450 metres south of hole DOL-10 and 1kilometre west hole DOL-9 in an area that has not yet been drilled. The copper and molybdenum mineralization is hosted within the same altered quartz diorite porphyry cut in the drill holes. Mineralization intersected to date on the property consists of primary sulphides. Continuous 1.0 metre chip samples across the trend of the mineralized trench returned: 29 metres of 0.64% Cu, 119ppm Mo as well as anomalous gold and silver values. Mineralization remains open to both the north and south.
Company geologists have been working to extend the geological mapping and sampling south of the currently drilled area in order to better understand the vectors controlling the emplacement of the copper-molybdenum mineralization. This work has confirmed that the altered and mineralized porphyry extends to the south for at least another 1.5km and possibly further. Once the mapping is completed, the Company plans to expand the IP and magnetic geophysical survey coverage over this very prospective ground to help define a second phase diamond drill program.
Table 1 - Dolores Trench Results - One Metre Intervals
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Location
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Copper
From To Copper Molybdenum Equivalent Gold Silver
(metres) (metres) (%) (%) (%)(i) (g/t) (g/t)
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0 1 0.71 0.005 0.73 0.14 2.3
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1 2 0.92 0.007 0.96 0.24 3.0
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2 3 1.37 0.005 1.40 0.08 2.0
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3 4 0.81 0.013 0.88 0.15 2.8
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4 5 0.51 0.012 0.58 0.06 1.8
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5 6 0.28 0.010 0.33 0.04 0.7
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6 7 0.71 0.013 0.78 0.10 1.8
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7 8 0.49 0.004 0.51 0.08 1.5
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8 9 0.46 0.004 0.48 0.07 1.2
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9 10 0.74 0.009 0.79 0.11 1.1
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10 11 0.59 0.008 0.63 0.14 1.7
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11 12 0.74 0.021 0.85 0.10 1.2
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12 13 0.64 0.018 0.74 0.06 0.7
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13 14 1.32 0.036 1.52 0.18 2.6
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14 15 0.65 0.033 0.82 0.07 1.0
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15 16 0.58 0.011 0.64 0.07 0.9
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16 17 0.36 0.011 0.42 0.05 0.9
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17 18 0.56 0.014 0.64 0.13 1.9
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18 19 0.47 0.004 0.49 0.06 1.0
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19 20 0.36 0.009 0.41 0.05 0.7
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20 21 0.35 0.011 0.41 0.06 0.7
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21 22 0.38 0.016 0.46 0.04 0.7
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22 23 0.40 0.009 0.45 0.04 1.3
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23 24 0.42 0.013 0.48 0.05 1.2
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24 25 1.00 0.027 1.14 0.21 3.7
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25 26 1.36 0.013 1.43 0.19 2.3
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26 27 0.96 0.006 0.99 0.23 2.6
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27 28 0.32 0.003 0.33 0.08 1.0
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28 29 0.18 0.002 0.19 0.07 0.2
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(i) Copper Equivalent Total calculated using TD Newcrest long term prices of US$2.75/lb. copper and US$15.00/lb. molybdenum and do not include any potential gold or silver credits. Metallurgical recoveries and net smelter returns are assumed to be 100%.
(ii)Please see our news releases dated March 3rd and October 4th, 2011 for further details.
Vernon Arseneau, P.Geo., Vice President, Exploration for Zincore has prepared or supervised the preparation of the information contained in this news release and is the Qualified Person as defined under National Instrument 43-101 for this news release.
Quality Control
Zincore has implemented a quality control program to ensure best practice in lithogeochemical sampling and analysis of rock chips, trench, tunnel and drill core samples. All channel samples were delivered in sealed security bags to ACME Labs Laboratory in Lima. All samples were analyzed by ICP (34 elements) using aqua regia digestion. Copper values were also determined by aqua regia digestion at ore grade level and gold was assayed by fire assay.
About Zincore
Zincore is a Vancouver-based mineral exploration company focused mainly on zinc and related base metal opportunities in the Americas, namely Peru, Mexico and Canada. The Company's common shares trade on both the Toronto and Lima Stock Exchanges under the symbol ZNC. For more information, please see our website at www.zincoremetals.com.
Forward-looking Statements: Statements in this release that are forward-looking, in particular with regards to the potential of the Dolores project, are subject to various risks and uncertainties concerning the specific factors disclosed under the heading 'Risk Factors' and elsewhere in the Annual Information Form of Zincore dated March 18, 2011 which is filed with Canadian securities regulatory authorities and available on SEDAR (www.sedar.com). Such information contained herein represents management's best judgment as of the date hereof based on information currently available.
Contacts:
Zincore Metals Inc.
Adam Ho
Manager, Investor Relations
(604) 669-6611 ext. 106
(604) 669-6616 (FAX)
aho@zincoremetals.com
www.zincoremetals.com