Zinco Mining Corporation
TSX VENTURE : ZIM
FRANKFURT : 61Z

Zinco Mining Corporation

February 29, 2012 09:01 ET

Zinco Proposes Drilling Program to Calculate Resource Estimate

SURREY, BRITISH COLUMBIA--(Marketwire - Feb. 29, 2012) - Zinco Mining Corporation (TSX VENTURE:ZIM) (FRANKFURT:61Z) has completed an in-house technical review of its Cuale VMS Camp and proposes a drilling program that will allow it to calculate an initial resource estimate on at least one of the prospects. This proposal is a follow-up to the drilling program in 2011 when the Company completed 1534.8 metres of HQ diamond drilling in 14 holes. The drilling was split between San Juan (955.3 m in 9 holes) and Jesus Maria (579.5 m in 5 holes) in the Cuale VMS camp, one of several VMS camps in the Company's Jalisco VMS Project concessions.

All of the holes drilled in 2011 intercepted potentially economic mineralization of silver, gold, lead, zinc or copper. Highlights for San Juan, a silver-rich stockwork hosted in a quartz-feldspar porphyritic rhyolite dome, are (News Release dated 10 October 2011):

  • ZIM35 with 63.0 metres of 134 g/t silver, 1.2% zinc, and 0.6% lead,
  • ZIM39 with 54.7 metres of 136 g/t silver, 0.8% zinc and 0.5% lead,
  • ZIM38 with 134.4 metres of 25 g/t silver, 1.0% zinc and 0.4% lead.

Highlights from the 2011 drilling at Jesus Maria, a stratabound zinc and copper-rich VMS deposit in cherty sediments located under a brecciated flow-dome complex are (News Release dated 12 October 2011):

  • ZIM46 with 31.5 metres of 4.7% zinc, 1.1% lead, 0.2% copper and 13 g/t silver,
  • ZIM45 with 31.0 metres of 3.1% zinc, 0.5% lead, 0.1% copper and 9 g/t silver,
  • ZIM44 with 24.0 metres of 66 g/t silver and 0.38 g/t gold.

The major conclusion of the review process is that the priority of the next drill program should be to expand the known mineralization at San Juan and Jesus Maria, and to calculate an initial resource estimate on at least one of the prospects.

The Company also proposes completing geological mapping and systematic litho-geochemical rock sampling of its newly acquired property underlying the Minas de Oro, located in the Company's Cuale Camp in close proximity to San Juan and Jesus Maria (News Release dated 5 October 2011). These include the underground mines of Grandeza, Talpas, El Caldero, El Rosario and San Rafael. Underground rock sampling from the 1940 metre level at Talpas returned values of 12.6% Zn, 1.7% Pb, 0.6% Cu, 29 g/t Ag, 0.67 g/t Au across 2 m (sample 25832). Mineralization at Talpas consists of coarsely crystalline dark sphalerite and galena with pyrite, chalcopyrite and minor bornite in markedly silicified, fine-grained, thinly laminated, cherty sedimentary rocks that occur below a thick pile of quartz-porphyritic rhyolite flows. Stratigraphically, this is the same position as Jesus Maria on the western side of Cerro Descubriadora. Subsequent to the mapping and sampling, a first round of exploration drilling down-dip of the underground workings is proposed.

Finally, detailed topographic mapping and orthophotography is recommended as the work will be required to: (i) upgrade drill hole intercepts into resources and eventually mineral reserves, and (ii) make better use of the historic drill hole database by locating the old drill roads and drill pads on modern cartography with more certainty.

The proposed drilling and exploration programs are subject to the Company obtaining the necessary financing. The Company is in discussions with interested parties regarding potential financing of the next program.

Qualified Person

This Press Release was approved by Michelle Robinson, M.A.Sc., P.Eng., a Director of Zinco Mining Corporation, who acts as Zinco's Qualifed Person as defined by NI 43-101. Geochemical assaying done by Zinco was completed by Acme Analytical Laboratories according to the procedures described in Zinco's News Release (NR 2011.05) dated 17 Goldgust 2011.

Further information about the Jalisco VMS Project can be reviewed on Zinco's website www.zincomining.com

ON BEHALF OF THE BOARD,

David Elgee, PRESIDENT

Certain information regarding the Company including mansilverement's assessment of future plans and operations, may constitute forward-looking statements under applicable secopperrities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, copperrrency 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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCOPPERRACY OF THIS NEWS RELEASE.

Contact Information

  • Zinco Mining Corporation
    David Elgee
    President
    (604) 507-2181
    (604) 507-2187 (FAX)
    www.zincomining.com