Zincore Drilling Confirms Mineralized Copper-Molybdenum Porphyry System at Dolores
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/03/11 -- Zincore Metals Inc. (TSX: ZNC)(BVLAC: ZNC) ('Zincore' or the 'Company') is pleased to report the first drill assay results from the Company's 100%-owned, Dolores copper-molybdenum porphyry property located in the prolific Yauri-Andahuaylas copper district in southern Peru. Highlights include consistent and evenly distributed copper and molybdenum mineralization throughout the length of Hole DOL-2, including 0.27% copper equivalent over 297 metres.
Zincore President and CEO, Jorge Benavides, commented, 'These results exceeded our expectations for this early stage of the Dolores drill program. On the second hole we intersected consistent and evenly distributed copper and molybdenum mineralization from just below the surface (at about 18 metres) and extending to 315 metres with no zero grade intervals. This is classic porphyry-style mineralization. The grade, as well as the homogeneous distribution, confirm that Dolores is a mineralized copper-molybdenum porphyry system with significant potential to become a major new porphyry deposit in a very prolific copper district. Zincore will aggressively pursue the exploration of Dolores with the objectives of localizing the higher grade core of the system and developing an understanding of the potential size of the deposit.'
Dolores Drill Results
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Copper
From To Drill Hole Copper Molybdenum Equivalent
(metres) (metres) Intersection(1) (%) (%) Total (%)(2)
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DOL-2 17.5 315.1 297.6 0.20 0.011 0.27
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Including 30.5 262.1 231.6 0.22 0.011 0.29
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and 30.5 103.1 72.6 0.26 0.009 0.32
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and 151.1 260.1 109.0 0.23 0.013 0.32
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DOL-1 No significant values intersected
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1. Core widths
2. Copper Equivalent Total calculated using TD Newcrest long term prices of
US$2.25/lb copper and US$15.00/lb molybdenum. Metallurgical recoveries
and net smelter returns are assumed to be 100%.
No significant values were intercepted for Hole DOL-1, which is located almost two kilometres from Hole DOL-2, and cut what is believed to be a younger, unmineralized intrusive within the Dolores system.
Hole DOL-2 is on the southeastern edge of the porphyry system where higher copper anomalies were originally found in rock chip samples. Mineralization is hosted in a quartz diorite porphyry and is open in all directions. Molybdenum mineralization is also evenly distributed along the entire length of the hole and adds significant value. In addition to the porphyry mineralization, copper-rich contact skarn mineralization identified from surface outcrops was targeted at depth in drill hole DOL-2. However, DOL-2 intersected porphyry hosted mineralization to a depth of 450 metres before drilling was stopped short of its planned depth, due to a fault zone. Preparations are underway to drill another hole that will intersect the continuation of this mineralization including the surface projected skarn mineralization past the fault contact.
Results for Holes DOL-1 and DOL-2 are the first in a ten hole drill program. DOL-3 has also been completed and the Company is awaiting results. Holes DOL-4 and DOL-5 are currently being drilled.
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 litho geochemical sampling and analysis of rock chips, trench, tunnel and drill core samples.
All drill core samples (approximately one metre, half-core composites) are shipped in security sealed bags via a private trucking company directly to the Acme Laboratories facility in Lima. All samples for the drill program are digested in an aqua regia acid digestion and analyzed for copperand molybdenum with an instrumental finish. In addition, all samples are analyzed for 34 elements by ICP-ES.
The Company submits its own standards and blanks as a measure of the accuracy of the analysis. All pulps and coarse rejects are being recovered and stored.
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