Zinco Mining Corporation
TSX VENTURE : ZIM
FRANKFURT : 61Z

Zinco Mining Corporation

October 11, 2011 09:01 ET

Zinco Reports on Drilling Results for San Juan, Cuale District, Jalisco VMS Project, Mexico

SURREY, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2011) - Zinco Mining Corporation (TSX VENTURE:ZIM) (FRANKFURT:61Z) is pleased to announce that it has obtained complete assay results for 955.3 meters of HQ diamond drilling in holes ZIM34 to ZIM42 from the San Juan prospect, Cuale VMS District, Mexico. Two holes, drilled 105 meters apart, returned high silver and moderate base metal values over substantial widths of more than 55 meters down hole. Hole ZIM35, collared 56 meters west of hole ZIM9, returned values of 134 g/t silver, 1.2% zinc, 0.78% lead, 0.01% copper and 63 ppb gold across 63 meters. Similar results of 136 g/t silver, 0.75% zinc, 0.49% lead, 0.01% copper and 53 ppb gold across 54.65 meters were returned from ZIM39, collared 70 meters northeast of ZIM9. Complete results for all of the holes are tabulated below.

The main objectives of the core drilling program at San Juan were to: (i) expand on reverse-circulation drill hole intercept ZIM9 that returned results of 95 g/t silver, 0.96% zinc, 0.44% lead, 0.01% copper and 56 ppb Au across 194.82 m (the largest continuous drill hole intercept of silver-rich mineralization ever intercepted on Zinco's VMS Project), and (ii) model the geological context of the mineralization, work that could not be done as reliably with reverse-circulation chip samples.

Overall, the drilling results confirm the following:
  • of 16 holes (both RC and HQ core) drilled at San Juan, 14 holes contain potentially economic intercepts of silver-rich mineralization,
  • the intercepts occur in an area 280 meters long by 240 meters wide that remains open to the east and west,
  • 14 of the potentially economic silver-rich intercepts are longer than 14 meters (core-length), and
  • 7 intercepts are longer than 50 meters.
Geologically, silver-rich mineralization at San Juan is hosted in and peripheral to a quartz-feldspar porhyritic (QFP) rhyolite flow dome complex that intrudes weakly porphyritic, devitrified rhyolite overlain by tuffaceous sediments. In detail:
  • The "basement" in the San Juan deposit area consists of weakly quartz-porphyritic rhyolite with abundant spherulites, lithophysae, perlitic fractures and other devitrification textures. This unit can contain sulfide mineralization in vugs caused by devitrification, and in fractures.
  • The devitrified rhyolite is overlain by normally graded, fining upwards mass-flow units of rhyolite lapilli tuff to fine tuff, locally with black argillite and syn-sedimentary pyrite. Massive sulfides can occur in this unit, generally close to the QFP rhyolite.
  • The basement and the tuffs are intruded by a strongly porphyritic rhyolite with characteristic dipyramidal quartz as well as feldspar phenocrysts (QFP). This unit has peperitic (brecciated) boundaries with the surrounding sediments, a feature that is typical of submarine rhyolite flow-dome complexes where they intrude unconsolidated sediments. The upper contact of the QFP with the surrounding sediment is marked by gossanous zones of semi-massive sulfide a few centimeters to a few meters thick. Internally, the QFP is marked by abundant microscopic perlite and spherulites that are preferentially replaced by silver-rich and base metal sulfides as well as quartz, barite and clay minerals. Sulfides also occur in randomly oriented stock work veinlets, mainly without quartz, but commonly marked by clay in vein selvedges. All silver-rich intercepts longer than 50 meters at San Juan occur in this QFP.

Overall, the core-drilling program has expanded the bulk-tonnage silver-lead-zinc potential of San Juan and provided geological controls on the mineral deposit that will help define the placement of drill holes for the next drilling program. In particular, on the basis of these results, the Company intends to conduct further exploration of the upper and marginal portions of the QFP, the host rock to the most valuable and silver-rich parts of the San Juan deposit.

Table 1. HQ diamond drill hole intercepts from San Juan, Cuale VMS District, Jalisco, Mexico

Hole ID From
(m
) To
(m
) Interval
(m
) Silver
(g/t
) Gold
(ppb
) Copper
(ppm
) Lead
(ppm
) Zinc
(ppm
)
ZIM34 21.00 67.00 46.00 114 51 118 3739 3672
ZIM34 79.00 81.00 2.00 14 73 304 7775 19124
ZIM35 6.00 69.00 63.00 134 63 112 6011 12378
ZIM35 91.00 94.00 3.00 13 235 439 8052 14893
ZIM36 11.50 42.00 30.50 64 54 55 738 175
ZIM36 61.00 62.00 1.00 111 195 87 1586 552
ZIM37 23.00 42.00 19.00 36 97 190 606 195
ZIM37 89.00 90.00 1.00 7 1000 37 365 1032
ZIM37 109.00 110.00 1.00 18 316 963 2849 6105
ZIM38 9.00 143.35 134.35 25 50 93 4351 9860
ZIM39 21.35 76.00 54.65 136 53 83 4939 7503
ZIM39 82.00 83.00 1.00 22 21 250 4467 13896
ZIM39 98.00 99.00 1.00 23 43 126 21174 31163
ZIM39 106.00 108.00 2.00 14 66 685 1466 38878
ZIM40 15.00 106.75 91.75 45 34 55 2779 6031
ZIM41 21.40 82.00 61 60 41 306 6064 12422
ZIM41 99.00 100.00 1.00 26 62 54 10800 12490
ZIM41 106.00 109.00 3.00 20 35 51 4581 10786
ZIM42 6.00 24.00 18.00 111 88 308 1122 1316
ZIM42 47.17 48.22 1.05 25 32 592 8903 19855

Qualified Person

This press release was reviewed 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 August 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 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.

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Contact Information

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