Vistior Capital Limited

October 29, 2007 12:07 ET

Zacoro Metals Corp. and Vistior Capital Limited Update Exploration and Production Results

TORONTO, ONTARIO--(Marketwire - Oct. 29, 2007) - ZACORO METALS CORP. ("Zacoro") and VISTIOR CAPITAL LIMITED ("Vistior") (TSX VENTURE:VCL.P) announce updated results for Zacoro's drilling program underway on the El Cobre Project in Zacatecas State, Mexico. Currently 5 drill rigs are on site with 1 more set to arrive this weekend. One hundred and nine diamond core drill holes have been completed in the Arroyos Azules open pit and surrounding area totaling approximately 29,080 meters in length. Final assay results have been received for 37 drill holes to date, 25 of which have been reported previously. Results of the remainder of the drill holes are pending. Previously reported results include 43m of 3.82% Cu, 2.87 gpt Au and 40 gpt Ag, and 95m of 1.8% Cu, 2.08 gpt Au and 15 gpt Ag. Select drill hole results from the most recent 12 holes assayed include:

DH# TD Mineralized Mineralized Cu% Au gpt Ag gpt Zn% Bi ppm
Zone Metres
53625-4 203.00 140-141.3 1.3m 11.3 4.18 65 low 127
154-165.5 11.5m 1.56 .56 6 low 30
53850-7 200.25 168-188 20m 3.96 1.3 43.2 low low
92-112 20m 0.72 0.62 11.4 low 550
180-184 4m 2.33 1.06 20.5 low 66
54350-1 336.80 196-210 14m 0.38 0.19 4.2 low 136
230-266 36m 2.74 2.06 30.0 low 339
142-190 48m 0.97 0.24 16.8 low 54
54350-2 500 206-266 60m 0.68 0.22 8.7 low 72
372-430 58m 1.9 1.10 22.4 low 152

The drill holes have targeted the skarn mineralization previously identified in drilling completed by Asarco and the Fomento Minero in the period from 1960 through 1988. Mineralized skarn occurs at the contact of the igneous rocks and limestone. Additional mineralized skarn occurs at the contact between limestone and calcareous siltstone and has also been investigated in the current drilling program. The skarn zone at the intrusive contact is nearly vertical with true widths varying from a few metres to more than 150 metres. The mineralized skarn has a strike length of at least 2 kilometres and continues under cover beyond previous drilling. The mineralized skarn has been tested up to 450 metres below the surface, indicating 450 metres of continuous mineralization from the surface in the nearly vertical body. The proposed 2007 drilling program currently has approximately 150 drill holes planned totaling 40,000 metres including infill and stepout targets. All drill holes are collared with HQ diameter core and are reduced to NQ only when drilling conditions require the reduction in order to complete the drill hole to the target depth.

The table of drill hole assay summaries are weighted averages and account for any differences in sample lengths. Assay values are not cut and the mineralized intervals use a 0.3% cutoff in order to be included in the mineralized interval. In some cases, a two to four metre zone with less than 0.3% copper may be included as internal waste, diluting the overall grade of the interval.

Core samples have been logged, photographed, and half-split for assaying. All assays are being completed by BSI Inspectorate in Reno Nevada and all sample preparation is being completed in their Durango Mexico facility. A check assay program is being initiated.

NI 43-101 Disclosure

Exploration activities on the El Cobre Project are being conducted under the supervision of Dr. Greg Myers, P. Geo., Zacoro's Technical Advisor and a qualified person for the purposes of NI 43-101.

El Cobre Project Mill Facility Production Results

From start-up on July 10, 2007, the El Cobre Project Mill has milled 52,777 tons and produced 1638.6 tons of concentrate grading 24.26% Cu, 4.43 gpt Au, and 267.17 gpt Ag. Production from the Mill has recently increased to 1,400 tons per day ("tpd"), from 700 tpd, with the second of three ball mills coming on line.

Zacoro expects that the Mill should reach its full rated capacity of 2,250 tpd in February 2008.

Zacoro has expended approximately USD $7,500,000 to date in rehabilitation costs to place the mill back into production. More than 60,000 tons of ore are currently stockpiled for crusher feed.

Mine Development Associates Retained

Zacoro has retained the services of Mine Development Associates of Reno, Nevada to develop a short term mine plan for the El Cobre Project and to prepare an updated technical report and resource audit on the El Cobre Project. The short term mine plan is expected to be completed early in 2008 pending further drilling results. The NI 43-101 compliant technical report and resource audit is expected to be completed in June, 2008.

Appointment of Technical Advisor

Zacoro announces that Dr. Greg Myers has been appointed as Technical Advisor for the El Cobre Project. In his role as Technical Advisor Dr. Myers will advise the Company's exploration manager in respect of the Company's ongoing drill program; and interpret technical data. Dr. Myers' responsibilities also include authoring a NI 43-101 compliant technical report and resource audit on the El Cobre Project with a target date of January 2008, liaising with MDA for the development of the short term mine plan and their 43-101 report, and acting as the Company's QP.

Vistior/Zacoro RTO Update

The terms and conditions of the letter of intent dated July 24, 2007 between Zacoro and Vistior were incorporated into a Business Combination Agreement dated September 21, 2007. The Amalgamation Agreement forming part of the Business Combination Agreement was approved by a special resolution of Zacoro's shareholders on October 2, 2007. Special resolutions authorizing the Vistior name change and share consolidation, conditions precedent to the closing of the Business Combination Agreement, were approved by Vistior's shareholders on September 20, 2007. Management of Vistior and Zacoro are presently working on obtaining regulatory approval for the transaction with the intention of closing the RTO on or about December 31, 2007. Further particulars on the RTO are provided in the News Release of August 23, 2007.


Zacoro Metals Corp. is a widely held Ontario company with its head office in Toronto, Ontario. Zacoro, through its 100% owned Mexican subsidiary, Eucan Mines, S.A. de C.V., has the right to earn a 50% interest in the El Cobre Project comprised of 22 exploitation concessions covering 1,433 ha located in Concepcion del Oro, Zacatecas, Mexico along with related assets. The El Cobre Project has an audited mineral resource and a mill facility with a rated design of 2,250 tpd. In addition, Zacoro is presently conducting a substantial drilling program to further delineate the El Cobre Project resource.

All information contained in this news release with respect to Zacoro was supplied by Zacoro for inclusion herein, and with respect to such information, Vistior and its board of directors and officers have relied on Zacoro.


This press release includes "forward looking statements", within the meaning of applicable securities legislation, which are based on the opinions and estimates of management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar words suggesting future outcomes or statements regarding an outlook. Assuming completion of the Proposed Transaction, such risks and uncertainties include, but are not limited to, risks associated with the mining industry (including operational risks in exploration development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainties involved in the discovery and delineation of mineral deposits, resources or reserves; the uncertainty of resource and reserve estimates and the ability to economically exploit resources and reserves; the uncertainty of estimates and
projections in relation to production, costs and expenses; the uncertainty surrounding the ability of Zacoro to obtain all permits, consents or authorizations required for its operations and activities; and health and safety and environmental risks), the risk of commodity price and foreign exchange rate fluctuations, the ability of Zacoro to fund the capital and operating expenses necessary to achieve the business objectives of Zacoro, the uncertainty associated with commercial negotiations and negotiating with foreign governments and risks associated with international business activities, as well as those risks described in public disclosure documents filed by Zacoro. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of Visitor and, assuming completion of the Proposed Transaction, the Resulting Issuer should not place undue reliance on these forward-looking statements. Statements in relation to "resources" and "reserves" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described can be profitably produced in the future. Readers are cautioned that the foregoing lists of risks, uncertainties and other factors are not exhaustive. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements contained in this press release or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.


Contact Information

  • Zacoro Metals Corp.
    Daniel T. Farrell
    President and CEO
    (416) 540-6436
    Vistior Capital Limited
    Rami Younes
    (416) 445-4572
    Vistior Capital Limited
    Corbet Elder
    Chief Financial Officer
    (416) 445-4572