Apoquindo Minerals Inc.

Apoquindo Minerals Inc.

February 02, 2010 08:30 ET

Apoquindo Intersects 167 Metres of 0.89% Copper and 124 Metres of 0.96% Copper in Two Holes at Zafranal

- ZFRC09-34: 167m of 0.89% copper (from 71m), including 78m of 1.38% copper including 18m of 2.54% copper

- ZFRC10-39: 124m of 0.96% copper including 73m of 1.19% copper

- All 20 drill holes completed to date have encountered copper mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2010) - Apoquindo Minerals Inc. (TSX VENTURE:AQM) ("Apoquindo" or "the Company") through its wholly owned Peruvian subsidiary, Minera KoriTambo SAC ("KoriTambo"), is pleased to announce a continuation of encouraging drill results from the Zafranal project located in the northwestern extension of the Southern Peru Copper Porphyry Belt near Arequipa.

The following table summarizes the assay results from five recent RC drill holes. Diamond core hole results are pending. The results continue to confirm the potential for a robust copper-gold deposit. All 20 drillholes completed to date have encountered significant copper mineralization both as primary and secondary sulphides. To date, the Company has received results from 6 RC drill holes. Hole ZFRC10-035 is not reported here as it is an incomplete RC pre-collar drill hole in the leached capping, the eventual site of a future diamond drill hole.

The RC drill holes reported here are step out holes within the >0.2% Cu zone as defined by widely spaced holes drilled previously in the Main Zone by Teck Resources Limited's Peruvian subsidiary Teck Cominco Peru S.A. ("Teck"), and is one of five porphyry targets located within the Zafranal Project.

Drill Hole   From (m.) To (m.) Interval (m.) Cu%* Au ppm
ZFRC09-34   71 238 167 0.89% 0.18
Incl.   76 154 78 1.38% 0.18
Incl.   98 116 18 2.54% 0.13
ZFRC10-36   146 206 60 0.70% 0.12
Incl.   152 172 20 1.12% 0.10
And   221 297 76 0.34% 0.09
ZFRC10-37   135 235 100 0.57% 0.09
Incl.   135 173 38 0.97% 0.11
ZFRC10-38   81 258 177 0.44% 0.27
Incl.   96 141 45 0.55% 0.69
And   153 196 43 0.60% 0.09
ZFRC10-39   171 295 124 0.96% 0.14
Incl.   171 244 73 1.19% 0.19
*at a cutoff of 0.2%Cu, minimum 6 meter interval

"These assay results for the drill holes suggest continuity of the chalcocite blanket at 80m - 100m spacing between the early Teck holes, originally spaced 250m - 400m apart ," says Bruce Turner, President and CEO Apoquindo Minerals. "We will continue this step out drilling of the secondarily enriched Main Zone and are currently carrying out deeper drilling on the primary sulfides as well."

Hole ZFRC09-034 was drilled near to and parallel to hole ZFDDH04-004, a 2004 Teck diamond drill hole which intercepted 163.5 m of 1.00% Cu and 0.11 g/t Au.

The Company is currently pursuing an aggressive drill program at Zafranal and plan to drill 40,000 meters that will include grid drilling the Main Zone, testing of the east and west extensions of the Main Zone, deep drilling on the Main Zone, and initial tests of several of the satellite targets during 2010.

The scope of this drill program is designed to satisfy the agreement with Teck for KoriTambo to acquire an initial 51% interest in the Zafranal copper-gold porphyry project, subject only to a back-in right, which if exercised, would reduce Apoquindo's holding (through KoriTambo) to 40% of the Zafranal project. The agreement also provides options for KoriTambo to increase its interest to 60% and to 100% if Teck does not exercise its back in right within 60 days of the Company exercising the option for the initial 51%. In the event the Company ultimately acquires 100% interest in the Zafranal project, a 1% net smelter returns royalty is payable to Teck.

The Company has established a rigorous QA/QC program at Zafranal which includes the insertion of blanks, duplicates and certified standards into the sample stream. Core is photographed on site and subsequently sawed in half, with one half sent for analysis and the other is stored for future reference and assay verification. RC chips are split twice on site using a riffle splitter, with 25% of the sample being sent to the laboratory for assay and the rest stored for future verification purposes. All Zafranal samples are shipped to ALS Chemex´s sample preparation facility in the city of Arequipa, where they are crushed and pulverized. Prepared samples are shipped to ALS Chemex´s certified laboratory in Lima where they are analysed for gold, copper and multi-element ICP.

Water Exploration Program

The Company intends to begin a Reverse Circulation drilling campaign aimed at finding sources of underground water within the project area. The necessary permits have been acquired and drilling is expected to begin in mid February. If sufficient water is found, the water exploration program contemplates the installation of several production wells to test the acuifer and establish the potential water resource in the area.

Dr. Tom Henricksen, consultant geologist of the Company and Chief Geologist for Minera KoriTambo, the Company's Qualified Person for the purposes of NI 43-101, has approved the information contained in this news release.


Bruce Turner, President and CEO

ABOUT APOQUINDO: The Company is a Canadian based mineral exploration company whose principal purpose is the acquisition and development of base metal deposits in South America. Through its wholly owned Peruvian subsidiary, Minera Koritambo SAC, the company is developing the Zafranal Copper-Gold Porphyry Project located in the Southern Peru Cu-Porphyry Belt. Please refer to www.apoquindominerals.com for further information regarding the Company and its projects.

Management and directors have extensive experience working for the world's largest mining companies as well as several junior exploration companies. Apoquindo Minerals has offices in Santiago, Chile, Lima, Peru and Vancouver, Canada.

To view the 2010 Zafranal Drilling Plan Map, please visit the following link:


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