Zincore Metals Inc.

Zincore Metals Inc.

October 12, 2010 08:16 ET

Zincore Discovers High Grade Zinc Mineralization North of Accha Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2010) - Zincore Metals Inc. (TSX:ZNC)(BVLAC:ZNC) ("Zincore" or the "Company") reports that it has discovered a new area of high grade zinc mineralization adjacent to and north of, the currently defined Accha deposit in southern Peru. Recent trenching on the northern limb of the Accha deposit exposed subcrops of mineralized reef material that returned high grade zinc and lead values.

Highlights from the trenching program include: 14.42% Zn and 0.24% Pb over 6.6 metres in Trench Three: 20.08% Zn and 1.85% Pb over 2.0 metres in Trench Five: 21.44% Zn and 1.50% Pb over 2.0 metres in Trench Six; 25.05% Zn and 0.32% Pb over 4.0 metres in Trench Seven; 37.19% Zn and 2.26% Pb over 1.5 metres in Trench Nine and 41.01% Zn and 8.44% Pb over 4.0 metres in Trench Ten. Please see Table 1 below for a complete summary of all trench results. To view maps of the drilled areas and trenches, please click (www.zincoremetals.com/en/projects/accha_map.php).

Zincore President and CEO, Jorge Benavides, commented: "The preliminary evidence indicates that these newly discovered mineralized subcrops form part of a continuous body that is adjacent to and separate from the Accha deposit as we currently know it. Some of these showings are exceptionally high grade and open up excellent exploration potential to the north of the known deposit with the opportunity to build upon the more than one billion pounds of Indicated and 2.6 billion pounds of Inferred zinc and lead resources within our Accha Zinc Oxide District (see news releases dated December 6, 2007 and March 3, 2008). When combined with the excellent metallurgical and in-fill drilling results we have recently announced, the potential to add new high grade zinc resources could really take this project to a completely different level."

Table 1 – Accha North Trench Results

Trench Number From (metres) To (metres) Length (metres) (1) Zinc (%) Lead (%)
Three 0.0 6.6 6.6 14.42 0.24
Four 10.5 28.0 17.5 5.38 0.41
And 31.5 36.5 5.0 8.76 0.24
Five 8.0 17.0 9.00 6.41 0.15
  19.0 24.0 5.0 3.79 0.19
Including 19.0 20.0 1.0 14.43 0.77
  47.0 49.0 2.0 3.30 0.94
  52.0 54.0 2.0 20.08 1.85
Six 7.5 15.5 8.0 9.07 0.35
  54.5 58.5 4.0 2.95 0.15
  61.0 73.0 12.0 3.67 0.22
  84.0 86.0 2.0 21.44 1.50
Seven 4.0 10.0 6.0 25.05 0.32
Eight 32.0 36.5 4.5 6.82 0.22
  53.5 57.5 4.0 3.2 0.21
  65.5 66.5 1.0 3.85 0.23
Nine 0.0 1.5 1.5 37.19 2.26
Ten 0.0 4.0 4.0 41.01 8.44
  1. As measured along length of the trench

Recent trenching on the north end of the Accha deposit uncovered a number of outcrops of gossan reef material with high grade zinc. The newly discovered mineralized outcrops lie on the northern limb of the main Accha anticline. All samples are channels taken over continuous lengths along the trenches. Geological mapping is continuing and additional trenches are planned for the coming weeks. The Company plans to drill these new and exciting targets shortly after its current in-fill definition drilling program is completed.

Vernon Arseneau, P.Geo., Vice President, Exploration for Zincore has prepared or supervised the preparation of the information contained in this news release and is the Qualified Person as defined under National Instrument 43-101 for this news release.

Quality Control

Zincore has implemented a quality control program to ensure best practice in litho geochemical sampling and analysis of rock chips, trench, tunnel and drill core samples.

All channel samples are shipped in security sealed bags via a private trucking company directly to the Acme Labs Laboratories facility in Lima. All samples are analyzed using two techniques: Zinc and lead grades are determined by Atomic Absorption and if the results exceed 10% they are re-assayed by volumetric methods. In addition, all samples are assayed by ICP-ES for 37 elements.

The Company submits its own standards and blanks as a measure of the accuracy of the analysis. All pulps and coarse rejects are being recovered and stored. Prior to a new resource estimate, 10% of all samples used in the resource calculation will be re-assayed at a second laboratory using the same analytical techniques described above. This includes re-assaying of pulps from the coarse rejects.

About Zincore

Zincore is a Vancouver-based mineral exploration company focused mainly on zinc and related base metal opportunities in the Americas, namely Peru, Mexico and Canada. The Company's common shares trade on both the Toronto and Lima Stock Exchanges under the symbol ZNC. For more information, please see our website at www.zincoremetals.com.

Forward-looking Statements: Statements in this release that are forward-looking, in particular with respect to the potential for increased resources, are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Annual Information Form of Zincore dated March 12, 2010 which is filed with Canadian securities regulatory authorities and available on SEDAR (www.sedar.com) Such information contained herein represents management's best judgment as of the date hereof based on information currently available.

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