Zincore Metals Inc.

Zincore Metals Inc.

June 21, 2011 08:30 ET

Zincore Drilling Expands Yanque Deposit With High Grade Zinc and Lead Over Significant Widths

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2011) -Zincore Metals Inc. (TSX:ZNC)(BVLAC:ZNC) ("Zincore" or the "Company") announces the results from nine diamond drill holes of definition drilling at its Yanque deposit, at the Company's 100%-owned, Accha Zinc Oxide District Project in southern Peru.

Highlights from these holes include: 7.29% Zn Eq* over 56.9 metres,including 15.11% Zn Eq* over 14.0 metres and 14.81% Zn Eq* over 6.0 metres in hole YA-72; 15.06% Zn Eq* over 13.6 metres, including 19.6% Zn Eq* over 8.6 metres in hole YA-78; 13.85% Zn Eq* over 9.0 metres in hole YA-80; and 11.56% Zn Eq* over 6.0 metres in hole YA-77.

Zincore CEO and President, Jorge Benavides commented, "Excellent results continue to flow from the definition drilling program at Yanque. We have again intersected zinc and lead in grades that are well above the deposit average. This is critical as an important goal for this program is to better define the high grade zones of the deposit and determine where we may selectively mine in the early years of a mine plan to improve project economics. Given that much of the deposit is right at surface, we believe that Yanque is amenable to development as an open pit operation."

Mr. Benavides added, "We are also very encouraged that we again intersected zinc and lead in significant widths, such as the 57 metres of 7.29% Zn Eq* in hole YA-72. This hole is about 60 metres from hole YA-54, where we intersected similar grade and thickness. Such significant widths really help the overall Resource tonnage add up quickly. Finally, we intersected high grade mineralization (over 15% Zn Eq*) in hole YA-78, which is at the edge of the known deposit and close to holes YA-65, 67 and 71, where we also intersected good mineralization. This leads us to believe that the Yanque deposit will grow in size."**

For a map of the Yanque deposit and associated drill holes, please click here or visit our website at www.zincoremetals.com.

Table 1 – Yanque Project Definition Drilling Results
Drill Hole
)Drill Hole Intersection
(metres) (1
  1. Core Widths
  2. Lost drill core between 11.8 and 12.5 metres
  3. Lost drill core between 12.3 and 13.1 metres and 13.5 to 14.7 metres
*** No significant values

These 9 holes represent 979 metres of drilling. The Company has now completed 3,752 metres of a planned 10,000 metre drill program intended to upgrade known Inferred Resources to Indicated. It is expected that the drilling will better define the high grade portions of the Yanque ore body. Given that a number of holes have intersected good grades and widths of zinc and lead mineralization at the edges of the known Resource, it is clear that the Yanque deposit is open in a number of directions and is expected to grow in size.

After the drill program is completed, a new model of the deposit will be generated and a new 43-101 Technical Report will be issued. The Company had good success with a similar in-fill drilling program at its Accha deposit, located 30 kilometres to the north. Zincore hopes to gain similar information about Yanque and use this intelligence to help develop a mine plan where a single facility could process zinc ores from both Yanque and Accha, as well as nine other 100% owned District prospects yet to be tested. Being able to selectively mine the higher grades of ore in the early years of a mine plan would significantly enhance the economics of the Accha Zinc Oxide District deposits.

(*)Figures are expressed as zinc equivalents using a ratio of 1:1 lead to zinc. Metallurgical recoveries and net refinery returns are assumed to be 100%.

(**)Please see our news releases dated March 19 and 23, 2011.

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 drill core samples (approximately one metre, half-core composites) are shipped in security sealed bags via a private trucking company directly to the Acme Laboratories facility in Lima. All samples for the resource drill program are analyzed using two techniques: Zinc and lead grades are determined by a four acid digestion and AAS finish, and if the results exceed 10% they are re-assayed by volumetric methods. In addition, all samples are assayed by ICP-ES for 36 elements including silver and if values exceed 200 ppm of silver, samples are re-assayed by an ore grade method with AAS finish.

The Company submits its own standards and blanks as a measure of the accuracy of the analysis. All pulps and coarse rejects are 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, regarding the mine potential of the Yanque deposit, 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 18, 2011 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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