Zincore Geophysical Work on Dolores Copper Porphyry Positive-Drilling Has Commenced
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/13/11 -- Zincore Metals Inc. (TSX: ZNC)(BVLAC: ZNC) ('Zincore' or the 'Company') reports that it has received results from geophysical surveys of its Dolores copper-gold porphyry, located on its 100%-owned Accha District property package in southern Peru. The survey information has helped define targets for a drill program and the Company has now begun drilling.
Zincore President and CEO, Jorge Benavides, commented, 'The various facets of the geophysical surveys and their interpretation are very consistent with responses for known copper porphyry deposits and indicate that Dolores is a textbook porphyry target. Our first hole focuses on what we believe is the central part of a very large copper porphyry system. It is imperative to remember that our Dolores property lies within the prolific Yauri-Andahuaylas Copper District and near world class properties including Xstrata's Tintaya and Las Bambas projects, the Haquira project which was recently purchased by First Quantum Minerals for $460 million and Norsemont Mining's Constancia project, currently the subject of a C$520 million acquisition offer from HudBay Mining.'
The geophysical surveys, carried out by Val D'or Geofisica del Peru SAC of Lima (VDG), consisted of a deep reconnaissance IP survey over 22 square kilometres with 500 metre line-spacing (48 line kilometres). Magnetics and Gamma Spectrometry were also completed within the same target area at 250 metre line spacing (92 line kilometres).(i) Community agreements and all necessary permits have been obtained and are in place. The Company expects to post information from the geophysical surveys in an updated corporate presentation on its website shortly.
VDG is a consulting company which has operated in Peru since 1994. The company's General Manager, Rejean Pineault, has worked in mining geophysics for 30 years, including 10 years as Senior Geophysicist for Noranda Mines. Mr. Pineault has been involved in several exploration projects where geophysics have been instrumental in defining economic mineral reserves, including the 2008 Chucapaca discovery in Moquegua, Peru.
In addition, Zincore received consulting assistance from Mr. Bernard Lubbe, an exploration geophysicist who has worked in mining and exploration since 1986 for companies such as Gold Fields of South Africa and Newmont Mining Corporation. Mr. Lubbe specializes in the processing and interpretation of geophysical data and has extensive greenfields and mining exploration experience in South America.
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.
(i)For more information on the Dolores geophysical survey plan, please see our news release dated September 30, 2010.
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 12, 2010 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
(604) 669-6616 (FAX)
aho@zincoremetals.com
www.zincoremetals.com