Zincore Reports Latest Dolores Porphyry Drill Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 21, 2015) - Zincore Metals Inc. (NEX:ZNC.H)(LMA:ZNC) ("Zincore", the "Company") is pleased to report assay results from the latest holes drilled at the Dolores copper-molybdenum porphyry project. Dolores is located in the prolific Yauri-Andahuaylas copper district of southern Peru and is being explored under a joint-venture with First Quantum Minerals. ("First Quantum")
Zincore CEO and President, Jorge Benavides commented, "Dolores continues to be an interesting exploration target. The large area, which has been sparsely drill tested to date, has been shown to contain anomalous to significant grades of copper and molybdenum. This attests to the large metal endowment of the system and further exploration is justified to test for a potential higher grade economic core to the system."
First Quantum has concluded the second of five earn-in stages for the Dolores joint-venture and currently owns 50.1% of the project, with Zincore owning the other 49.9%.
The recent drilling program comprised 1599.8m in 4 diamond drill holes. Highlight assay results are provided in Table 1 below; hole location and orientation data are in Table 2. For a map of all holes drilled at the Dolores project, please click here.
| Table 1:- Dolores Highlight Drill Results | ||||||||
| From (metres) | To (metres) | Drill Hole Intersection (1) | Cu (%) | Mo (%) | Copper Equivalent (%)(*) | Au (g/t) | Ag (g/t) | |
| DOL-18 | 342.15 | 352.15 | 10.00 | 0.12 | 0.003 | 0.13 | 0.004 | 0.227 |
| And | 352.15 | 362.70 | 10.55 | 0.01 | 0.051 | 0.20 | 0.003 | 0.135 |
| DOL-19 | 70.70 | 103.50 | 32.80 | 0.13 | 0.006 | 0.15 | 0.009 | 0.646 |
| including | 70.70 | 81.60 | 10.90 | 0.21 | 0.011 | 0.25 | 0.012 | 0.793 |
| And | 171.55 | 185.70 | 14.15 | 0.12 | 0.010 | 0.15 | 0.010 | 0.703 |
| And | 215.17 | 246.85 | 30.15 | 0.10 | 0.003 | 0.11 | 0.006 | 0.458 |
| DOL-20 | 143.00 | 161.15 | 18.15 | 0.06 | 0.006 | 0.08 | 0.007 | 0.477 |
| And | 215.20 | 242.30 | 27.10 | 0.04 | 0.014 | 0.09 | 0.010 | 0.510 |
| (1) Core widths |
| * Copper Equivalent Total calculated using TD Securities long term prices of US$3.00/lb. copper and US$11.00/lb. molybdenum and do not include any potential gold or silver credits. Metallurgical recoveries and net smelter returns are assumed to be 100%. |
The recent drilling targeted the southeastern flank of the previously-drilled porphyry copper-molybdenum system over a north-south distance of approximately 550m. DOL-18, the most northerly hole, cut quartzite through its entire length and intersected anomalous copper and molybdenum associated with sulphide veinlets between 342.15m and 362.70m depth. DOL-19, drilled entirely in diorite at 100° azimuth, was collared at the same location as DOL-02 and DOL-09 from previous drilling campaigns. It intersected intermittent zones of anomalous copper and molybdenum associated with concentrations of sulphide veinlets between 70.70m and 246.85m depth. DOL-20 and DOL-21 were drilled from the same location at 50° and 110° azimuth, respectively, between DOL-18 and DOL-19. DOL-20 intersected feldspar porphyry, diorite porphyry and breccia in the upper portion of the hole and quartzite with thin andesite units below 203.5m. Two intervals of weak copper-molybdenum mineralization were intersected, one in each lithology type. DOL-21 cut feldspar porphyry and intrusive breccia over its entire length and intersected no significant mineralization.
| Table 2. Drill Hole Location and Orientation Data | ||||||
| Hole ID | Easting | Northing | Elevation (m) | Azimuth | Inclination | Length (m) |
| DOL-18 | 819,135.8 | 8,428,797.9 | 3707.8 | 300 | -55 | 500.3 |
| DOL-19 | 818,999.9 | 8,428,238.0 | 3531.6 | 100 | -55 | 491.3 |
| DOL-20 | 819,076.8 | 8,428,443.8 | 3652.5 | 50 | -55 | 308.2 |
| DOL-21 | 819,076.8 | 8,428,443.8 | 3652.5 | 110 | -55 | 300.0 |
For more information on the Dolores joint-venture and results, please see our news releases dated October 29th, March 21st, January 15th and January 8th, 2013 as well as November 23rd, September 6th and July 13th, 2012.
Quality Assurance and Control
All drill core samples were delivered in sealed security bags to ALS Global in Arequipa. Laboratory All samples were analyzed by ME-MS61 (48 elements) using four acid digestion. Copper values were also determined by four acid digestion at ore grade level and gold was assayed by fire assay and Atomic Absorption Spectroscopy. Industry standard procedures were followed for the work reported on herein, which included a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted into the drill core sample sequence sent to the laboratory for analysis. No significant QA/QC issues during review of the data.
David Terry, Ph.D, P.Geo., is an independent geologist registered in BC, Canada. He has reviewed and approved the technical disclosure contained in this news release and is the Qualified Person as defined under National Instrument 43-101 for this news release.
About Zincore
Zincore is a Vancouver-based mineral exploration company focused mainly on zinc and related base metal opportunities in Peru. The Company's common shares trade on both the NEX exchange under the symbol ZNC.H. For more information, please see our website at www.zincoremetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements: Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events or the Company's future performance, business prospects or opportunities. Forward-looking information includes, but is not limited to, statements with respect to the Company's copper exploration activities and its joint venture with First Quantum for the Dolores project. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward-looking information. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak only as of the date of this press release. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law. Forward-looking information involves risks and uncertainties which may cause actual results to be materially different from those expressed or implied by such forward-looking information. Such risk and uncertainties relate to, among other things, results of exploration and development activities, the Company's historical experience with development-stage mining operations, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices, actual operating and financial performance of facilities, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations, as well as those factors discussed in the section entitled "Risk Factors" and elsewhere in the Annual Information Form of Zincore dated March 18, 2014 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.
Contact
Zincore Metals Inc.
Adam Ho
VP, Corporate Development
(604) 669-6611 ext. 3
aho@zincoremetals.com
www.zincoremetals.com