Zincore Discovers More Copper Mineralization in Undrilled Area of Dolores Copper Porphyry
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/15/13 -- Zincore Metals Inc. (TSX: ZNC)(LMA: ZNC) ("Zincore" or the "Company") is pleased to report that it has discovered copper mineralization in Trench Three, which is located in an undrilled area of the Company's 100%-owned, Dolores copper-molybdenum porphyry property. The mineralization was discovered as part of work being conducted under a joint-venture with First Quantum Minerals formed to explore Dolores, which is located in the prolific Yauri-Andahuaylas copper district in southern Peru.
Highlights for Trench Three include: 0.18% Cu Eq(i) over 57 metres, including 0.44% Cu Eq(i) over 17 metres and 0.77% Cu Eq(i) over 9 metres.
Trench Three is located 250 metres south of Hole DOL-12, 450 metres south of DOL-11 and 925 metres southwest of DOL-2, three of the most prospective holes drilled to date at Dolores. To view results for Trench Three, please see Table A below. You may also view a map of exploration work at Dolores by clicking here.
Zincore CEO and President, Jorge Benavides commented, "The copper and molybdenum mineralization we encountered at surface in Trench Three is very interesting as it is hosted in porphyry quartz monzonite, cut by hydrothermal breccias. This is similar to what we encountered in Holes DOL-2, DOL-11 and DOL-12, which all cut long intersections - 297.6 metres, 261.3 metres and 584.7 metres respectively - of good copper-molybdenum mineralization and are all located some distance to the north and northeast."
Mr. Benavides concluded, "Combined with recent and soon to be received drill results from Holes DOL-14, DOL-15, DOL-16 and DOL-17, as well as information from extensive geophysical, geochemical and geological surveys, we are assembling an important body of information. We will assess and interpret all of the data and indicators to develop a new drill campaign after the conclusion of the rainy season."
For more information about drill results for Holes DOL-2, DOL-11 and Dol-12, please see our news releases dated May 3, 2011, November 23, 2012 and January 8, 2013.
(i) Copper Equivalent Total calculated using TD Securities long term prices of US$2.75/lb. copper and US$15.00/lb. molybdenum. Metallurgical recoveries and net smelter returns are assumed to be 100%.
Table A - Dolores Trench Three
----------------------------------------------------------------------------
Location
----------------------------------------------------------------------------
Copper
From To Interval Copper Molybdenum Equivalent Gold Silver
(metres) (metres) (metres) (%) (%) (%)(i) (g/t) (g/t)
----------------------------------------------------------------------------
0 1 1 1.08 0.009 1.14 0.11 2.8
----------------------------------------------------------------------------
1 2 1 0.56 0.003 0.58 0.04 1.5
----------------------------------------------------------------------------
2 3 1 0.78 0.005 0.80 0.06 2.7
----------------------------------------------------------------------------
3 4 1 0.59 0.003 0.61 0.02 1.3
----------------------------------------------------------------------------
4 5 1 0.72 0.001 0.73 0.03 1.7
----------------------------------------------------------------------------
5 6 1 0.52 0.001 0.53 0.05 2.4
----------------------------------------------------------------------------
6 7 1 1.85 0.012 1.92 0.11 8.9
----------------------------------------------------------------------------
7 8 1 0.53 0.002 0.54 0.08 3.1
----------------------------------------------------------------------------
8 9 1 0.14 0.001 0.14 0.01 0.3
----------------------------------------------------------------------------
9 11 2 0.05 NSV 0.05 0.01 0.2
----------------------------------------------------------------------------
11 13 2 0.04 NSV 0.04 0.01 0.1
----------------------------------------------------------------------------
13 15 2 0.08 NSV 0.08 0.01 0.4
----------------------------------------------------------------------------
15 17 2 0.09 NSV 0.09 0.01 0.6
----------------------------------------------------------------------------
17 19 2 0.02 NSV 0.02 0.01 0.1
----------------------------------------------------------------------------
19 21 2 0.02 NSV 0.02 0.01 0.1
----------------------------------------------------------------------------
21 23 2 0.02 NSV 0.02 0.01 0.1
----------------------------------------------------------------------------
23 25 2 0.03 0.001 0.03 0.01 0.1
----------------------------------------------------------------------------
25 27 2 0.07 0.001 0.08 0.01 0.3
----------------------------------------------------------------------------
27 29 2 0.04 NSV 0.04 0.01 0.1
----------------------------------------------------------------------------
29 31 2 0.07 NSV 0.07 0.01 0.2
----------------------------------------------------------------------------
31 33 2 0.08 0.001 0.09 0.01 0.3
----------------------------------------------------------------------------
33 35 2 0.09 NSV 0.09 0.01 0.2
----------------------------------------------------------------------------
35 37 2 0.05 NSV 0.05 0.01 0.3
----------------------------------------------------------------------------
37 39 2 0.08 0.001 0.08 0.01 0.2
----------------------------------------------------------------------------
39 41 2 0.05 0.001 0.05 0.01 0.1
----------------------------------------------------------------------------
41 43 2 0.04 NSV 0.04 0.01 0.1
----------------------------------------------------------------------------
43 45 2 0.06 NSV 0.06 0.01 0.1
----------------------------------------------------------------------------
45 47 2 0.47 0.003 0.48 0.03 0.8
----------------------------------------------------------------------------
47 49 2 0.03 NSV 0.03 0.01 0.1
----------------------------------------------------------------------------
49 51 2 0.05 NSV 0.05 0.01 0.2
----------------------------------------------------------------------------
51 53 2 0.04 NSV 0.04 0.01 0.1
----------------------------------------------------------------------------
53 55 2 0.23 NSV 0.23 0.01 0.4
----------------------------------------------------------------------------
55 57 2 0.11 NSV 0.11 0.01 0.4
----------------------------------------------------------------------------
57 59 2 0.02 NSV 0.02 0.01 0.2
----------------------------------------------------------------------------
59 61 2 0.02 NSV 0.02 0.01 0.1
----------------------------------------------------------------------------
61 63 2 0.02 NSV 0.02 0.01 0.1
----------------------------------------------------------------------------
63 65 2 0.02 0.001 0.02 0.01 0.1
----------------------------------------------------------------------------
(i) Copper Equivalent Total calculated using TD Securities 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%.
The Dolores Copper Porphyry Project
Zincore's 100%-owned Dolores Project is located on the Company's Accha Zinc Oxide District in the Yauri-Andahuaylas Copper belt in southern Peru. It is near significant copper mines and developments such as Xstrata's Las Bambas and Tintaya, HudBay's Constancia and First Quantum's Haquira. To date, Zincore has published results from 13 drill holes, three trenches and a number of surface samples at Dolores. The Company has also now completed drilling holes DOL-14, DOL-15 and DOL-16 and is awaiting assay results. Drilling is also underway at Hole DOL-17.The Company has also received and is reviewing results from an extensive ground magnetic and induced polarization survey of the Dolores area, as well as a regional aeromagnetic and radiometric study. It is expected that this new data will contribute to a better understanding of the deposit and help focus future exploration work.
To view the Dolores joint-venture details, please click here.
Vernon Arseneau, P.Geo., is an independent geologist registered in Quebec, Canada. He 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 ZincoreZincore 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 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 19, 2012 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. 3
(604) 669-6616 (FAX)
aho@zincoremetals.com
www.zincoremetals.com