VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2012) - Zincore Metals Inc. (TSX:ZNC)(LMA:ZNC) ("Zincore" or the "Company") is pleased to report that it continues to encounter higher grade mineralization in an undrilled area of the Company's 100%-owned, Dolores copper porphyry property. These latest results bring the weighted average grade of Trench One to 0.76% Cu Equivalent(i) over fifty-two metres.
For a complete list of Trench One results, please see Table One below. To view a map showing the location of the Dolores drill holes and Trench One, please click here: http://www.zincoremetals.com/en/_pdf/Projects_Dolores2011.pdf or visit our website at www.zincoremetals.com.
Zincore CEO and President, Jorge Benavides, commented "We are very enthusiastic about these latest trench results as they provide further evidence that we are vectoring into the heart of the mineralized porphyry. In addition to indicating that the trench zone is open and extends into the surrounding areas, the latest results have increased the average grade of copper and molybdenum mineralization and add potentially significant gold credits. With the funds raised in our recently closed financing,(ii) we are honing in on our next drill targets and look forward to beginning the next phase of this very exciting copper porphyry project."
Trench One is located in an undrilled area 450 metres south of hole DOL-10 and 1 kilometre west hole DOL-9 respectively, two of the most highly prospective holes drilled on the Dolores property to date. The copper and molybdenum mineralization is hosted within the same altered quartz diorite porphyry cut in the drill holes and mineralization intersected to date on the property consists of primary sulphides. Continuous 1.0 metre chip samples across the trend of the mineralized trench have returned: 52 metres of 0.67% Cu, 165 ppm Mo as well as anomalous gold and silver values. Mineralization remains open in all directions. The Dolores property is located in the prolific Yauri-Andahuaylas Copper District in southern Peru near other copper porphyries being developed such as Xstrata's Las Bambas, HudBay's Constancia and First Quantum's Haquira.
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 One Results - One Metre Intervals|
|(Latest results from 1 to 13 metres and 42 to 52 metres)|
|From (metres)||To (metres)||Copper (%)||Molybdenum (%)||Copper Equivalent (%)(i)||
(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 on Dolores drilling and March 16, 2012 for further details on recent financing activities.
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.
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.
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 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.