Zinccorp Resources Inc.

August 06, 2009 14:06 ET

Zinccorp Resources Acquires Claims Close to Recent West Timmins Mining/Lake Shore Gold Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 6, 2009) - Zinccorp Resources Inc (TSX VENTURE:ZN) ('Zinccorp') is pleased to announce, subject to regulatory approval, the acquisition of a 100% interest in the Whitesides Carscallen and Sewell West properties. These properties continue to build Zinccorp's gold presence in the West Timmins camp.

The Whitesides Carscallen property consists of 11 claims (123 units) located in the Whitesides and Carscallen Townships of Porcupine Mining Division. The property is accessible by road and is approximately 25 km southwest of Timmins. The property is in the adjacent township to the recent West Timmins Mining/Lake Shore Gold discovery of 12.75 g/T gold over 83.4 meters. (See West Timmins Mining news release dated June 24, 2009 http://westtimminsmining.com/main/?newsReleases&207)

The Sewell West property consists of 10 claims (143 units) and is also accessible by road. It is located approximately 35 km southwest of Timmins, Ontario. This property abuts Amador Gold Corp.'s Sewell property, to the west.

"The acquisition of these properties in close proximity to one of the most exciting gold projects in the industry only adds to Zinccorp's already dynamic property portfolio. With the recent completion of our summer exploration program on our silver/lead/zinc Michelle project in the Yukon, on which we are currently awaiting assays, we are now able to focus on bringing forward our newly acquired Ontario properties," comments Company President, Richard Hughes.

Consideration for each of the properties consists of $105,000 and $75,000 in cash or the equivalent value in shares (or a combination of cash and shares), as well as 400,000 shares, all payable over four years. (A further 100,000 shares are to be issued following the completion of a positive feasibility study). There is a 3% net smelter return payable, one-third (1%) of which may be purchased for $1,000,000.

Both properties occur along or are adjacent to what may be a splay off the prolific gold-bearing Destor Porcupine Fault Zone ('DPFZ'). The DPFZ hosts the world famous Timmins gold camp as well as other gold deposits in the Harker-Holloway area of Ontario. Potential for gold mineralization may be evidenced by historical gold-bearing quartz boulders found down glacial ice-direction of the properties.

The Company is currently completing a map which will be released along with more information about the properties next week.

About Zinccorp Resources Inc.

Zinccorp Resources Inc., a member of the Hughes Exploration Group of companies, is a recently formed, tightly held junior mineral exploration company. The Company had a zinc/lead/silver discovery on the Michelle Property, one of its four highly prospective properties in Yukon, Canada in 2007. Zinccorp Resources Inc. has now expanded their exploration venture into the prolific Timmins / Larder Lake mining camp adding a new gold dimension to their exploration portfolio.

Please visit Zinccorp's web-site www.zinc-corp.com to learn more about the Michelle and other exciting Zinccorp projects and sign up to receive upcoming Zinccorp news.

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Zinccorp Resources Inc.
    Kevin Hull or Alan Campbell
    Investor Relations
    (604) 685-2222