Zinco Mining Corporation
TSX VENTURE : ZIM

Zinco Mining Corporation

July 15, 2008 18:40 ET

Zinco Mining Corporation: Base Metal Rich Volcanogenic Massive Sulphide Mineralization Intersected by Drilling Under the Jesus Maria Open Pit, Cuale, Jalisco, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 15, 2008) - Zinco Mining Corporation ("Zinco") (TSX VENTURE:ZIM) is pleased to report that it has intersected what appears to be a significant zone of zinc and lead rich VMS mineralization under and east of the past producing Jesus Maria open-pit mine during an on-going reverse circulation drilling campaign on its 100% owned El Maple Property in the Cuale VMS District. The Jesus Maria deposit occurs about 2.5 kilometres north of Zinco's San Juan deposit where significant silver-rich VMS mineralization appears to have been intersected by Zinco's drilling earlier in the spring campaign and disclosed in news release 2008-05.

Jesus Maria was historically mined for silver, gold, copper, lead, and zinc. The old workings include two adits and a small open pit. Past production from Jesus Maria was 43,000 tonnes of 0.34 g/t gold, 182 g/t silver, 1.47% lead, 3.35% zinc and 0.24% copper from a small lens located within the flow breccias above a rhyolite dome complex. Another short adit was driven historically on a separate occurrence of VMS mineralization called Patrocino that lies about 600 metres south east of Jesus Maria. Soil samples taken between Jesus Maria and Patrocinio define a contiguous polymetallic geochemical anomaly over 600 metres long, and 150 metres wide that contains elevated values of gold, silver, lead, zinc, and copper as well as high concentrations of mercury, antimony and arsenic.

Zinco has completed a total of 1,604 metres of drilling in thirteen drill holes between the Jesus Maria pit and the Patrocinio adit, within the central part of the geochemical anomaly. Ten of the holes appear to have significant intercepts of zinc-rich mineralization and define an area about 350 metres long and 250 metres wide that is open along strike both to the west-northwest and to the east-southeast. Two of the ten holes were drilled into the west-northwest trending Mariana Fault. One of those two holes intercepted strongly sericite altered rhyolite and quartz-feldspar-porphyritic rhyolite intrusions, and the other hole intercepted quartz-chlorite-pyrite alteration with significant chalcopyrite. The intense alteration and presence of high level intrusions imply that these two holes intercepted the feeder fault to the Jesus Maria massive sulphide mineralization.

The thickest and highest grade sulphides occur north of the Mariana Fault in an easterly trending sub-basin. Hole ZIM 30 was drilled north-westerly into this geological feature, and returned 39.78 metres of strong sphalerite (zinc) and galena (lead) rich massive sulphide between 57.12 metres and 96.9 metres down-hole. Hole ZIM 16, drilled to the northeast, intercepted semi-massive to disseminated polymetallic sulphide mineralization over 49.98 metres between 105.06 and 155.04 metres down-hole. Hole ZIM 19 was drilled about 70 metres south of the Mariana Fault and intercepted 30.6 metres of sphalerite-rich massive to semi massive sulphide between 49.98 and 80.58 metres down-hole. Hole ZIM 32 was collared near ZIM 16, but drilled to the north-northwest and intercepted 81.6 meters of disseminated to semi-massive sulphide between 44.88 and 126.48 meters down hole.

This newly discovered deeper massive sulphide horizon at Jesus Maria occurs about 50 metres below the quartz-phyric rhyolite flow dome and breccia complex that hosted the previously mined massive sulphide lens, and within a thick sequence of quartz phyric rhyolite tuffs intercalated with black argillites that are intruded by quartz-feldspar porphyritic rhyolite.

Mineralization consists mainly of coarsely crystalline yellow, white, red, green and black sphalerite with galena, various sulphosalts and significant chalcopyrite. The feeder portion of the mineralized zone is characterized by intense chloritic alteration with coarsely crystalline pyrite and chalcopyrite. The footwall to the massive sulphides consists of quartz, sericite, chlorite and pyrite. Sericite alteration occurs above the sulphides. Laterally, the alteration consists of pervasive silicification with pyrite.

Samples were collected at one metre intervals and analyzed with a Niton hand held XRF on site. The Niton analyses indicate that zinc is the most important economic element followed by lead and copper. Based on the Niton X-ray analyses and visual examination of the samples using a microscope the mineralized intercepts were defined and have been sent to the Acme Analytical Laboratory in Vancouver for quantitative analyses for silver, gold, lead, zinc and copper.

This initial phase of Zinco's Cuale drilling campaign has now been completed and the drill and crews have demobilized. A total of approximately 4,700 metres of reverse circulation drilling in 33 holes were completed on four separate targets: San Juan, Grandeza, Naricero, and Jesus Maria. Assay results will be reported when received in the next two months.

About the Jalisco VMS Project:

The Cuale Camp is one of six separate massive sulphide camps that occur within Zinco Mining Corporation's 100% owned Jalisco VMS project area, which is located in the Jalisco State of south western Mexico approximately 50 to 75 kilometres east of Puerto Vallarta. The other five massive sulphide mining camps in the Jalisco VMS project area are Desmoronado, Aranjuez, Bramador, La Mina and El Rubi. Both the Jesus Maria and San Juan Zones of mineralization occur in the Cuale VMS camp.

The geological setting and age of the six massive sulphide camps in the Jalisco VMS project area, including the Cuale mining camp, and their numerous precious metal enriched massive sulphide deposits are similar in many aspects to the valuable Eskay Greek gold-silver mine and the highly prospective Iskut River-Stewart area in north western British Columbia. A similar Mexican analogy that lies south of Cuale is the Campo Morado district where TSX company Farallon Resources Ltd. is readying its G-9 deposit for production and conducting aggressive exploration drilling on several other deposits.

Michelle Robinson MASc., P.Eng. a director of Zinco is the qualified person as defined by NI 43-101 and responsible for the preparation of technical information in this news release.

Further detailed information about the Jalisco VMS project and the Cuale camp can be reviewed on Zinco's website www.zincomining.com.

ON BEHALF OF THE BOARD,

Christopher Graf P.Eng., President & CEO

Certain information regarding the company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

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

Contact Information

  • Zinco Mining Corporation
    Christopher Graf, P.Eng.
    President & CEO
    (604) 507-2181
    (604) 507-2187 (FAX)
    Website: www.zincomining.com