Zincore Metals Inc.

Zincore Metals Inc.

August 18, 2010 08:35 ET

Zincore Achieves High Percentage Zinc Recoveries and Grades in Pilot Plant Tests

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2010) - Zincore Metals Inc. (TSX:ZNC)(BVLAC:ZNC) ("Zincore" or the "Company") is very pleased to report that it has achieved zinc recoveries in excess of 92% at a zinc calcine grade of greater than 65% (+81% zinc oxide) and lead recoveries in excess of 99% at a lead calcine grade of greater than 7% (9.5% lead oxide) in a continuous campaign of a pilot plant Waelz kiln. The continuous run test results were conducted over a period of 72 hours and were achieved after conducting 56 initial tests to determine the optimal parameters for variables such as plant feed rate, kiln residence time, anthracite (coal) ratio, kiln temperature and zinc content. All tests were conducted using a ten tonne sample of mineralization at various feed grades from the Accha project at the Company's Accha Zinc Oxide District in southern Peru. 

Zincore President and CEO, Jorge Benavides, stated, "These test results are excellent! We are very encouraged by the outstanding results achieved, and at a much lower than expected rate of coal consumption. We now have much more valuable information for the design and throughput parameters required as we continue to move towards an updated prefeasibility study and closer to feasibility work."

Highlights and Conclusions from the Pilot Plant Tests

  • Average continuous run recoveries were 92.5% for zinc with a calcine grade of 65.5% (+81% zinc oxide) and >99% for lead at a grade in the calcine product of 7.7% (9.5% lead oxide)
    • Combined concentration of zinc and lead oxide in the calcine was greater than 90%
  • Anthracite consumption, a major cost factor, was significantly less than originally expected, at 4 kilograms of anthracite required per kilogram of zinc in the feed, or a ratio of 0.4 anthracite to ore feed (at a feed grade of 10% zinc)
    • Based on the results a robust model was developed to describe the relationship between zinc recovery, anthracite consumption and the zinc content in the feed
  • A better understanding has been gained of the effect of various parameters on the performance of the Waelz kiln and valuable design data has been generated that can be taken forward in a future engineering design study
  • Concentration of other elements in the calcine such as chlorine, fluorine and arsenic were found to be higher than in the preliminary laboratory testing previously reported at 0.66%, 0.71% and 0.175% respectively, and indicate a second calcining stage may be required to reduce these concentrations
  • A grade-recovery relationship has been developed that illustrates a commonly observed metallurgical trend that an increase in the grade of the calcine results in a decrease in the zinc recovery to calcine
    • Accordingly the recovery could be increased with a commensurate decrease in the calcine zinc grade and further downstream test work will indicate what the optimal grade-recovery scenario will be for a financial and process related perspective
  • The test results produced sufficient calcine product for further downstream test work and design of downstream processes

To view a summary report on the test results, please visit our website at www.zincoremetals.com.

Zincore is currently testing a ten tonne sample from its Yanque project, located 30 kilometres southwest of the Accha project and looks forward to reporting on those results as soon as they are available.

All test work was done at the Corianta Waelz kiln facility in Pacasmayo, Peru, which is owned by Cementos Pacasmayo SAA. In turn, approximately 64% of Cementos Pacasmayo is owned by Inversiones Pacasamayo SAA, which also owns approximately 36.9% of the outstanding shares of Zincore. Corianta currently uses a Waelz rotary kiln at its facility to process zinc and lead ore from its Bongara mine to produce a commercial high grade zinc oxide concentrate.

The pilot plant was operated by staff from the Corianta plant under the guidance of Michael Valenta Pr. Eng. (Intl) of Metallicon Process Consulting (Pty) Ltd of Hartbeespoort, South Africa. Metallicon is an independent consulting firm that provides specific, technical expertise in the area of mineral processing. Mr. Valenta is a metallurgical engineer and an internationally registered Professional Engineer under the Washington Accord. He has significant experience in laboratory, pilot testing and full-scale refinery metallurgical practice and processes.

On site representation for Metallicon was provided by Hatch International a global engineering, procurement, construction, and management company with more than 8,000 people in 65 offices on six continents that supplies engineering, project and construction management services, process and business consulting and operational services to the mining, metallurgical, energy and infrastructure industries.

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.

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 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.

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