Zincore Metals Inc.

Zincore Metals Inc.

December 07, 2010 08:46 ET

Zincore Drilling Indicates Opportunity to Expand Resources East Of Known Accha Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2010) - Zincore Metals Inc. (TSX:ZNC)(BVLAC:ZNC) ("Zincore" or the "Company") is pleased to report results from the final six holes of its 2010 in-fill, definition drilling program at the Accha project in southern Peru. Highlights from these holes include: 9.04% Zn* over 12.0 metres at hole AC-88, 8.35% Zn* over 4.0 metres at hole AC-86, 7.88% Zn* over 6.1 metres also at hole AC-86 and 7.39% Zn* over 24.2 metres at hole AC-85. For a full list of results, please see Table 1 below.

* Figures presented as zinc equivalents using a ratio of 1:1 zinc to lead.

Zincore President and CEO, Jorge Benavides, commented, "The 2010 in-fill drilling program at our Accha project has been tremendously successful and the results released today build on that success. These holes cover territory towards the eastern border of the known Accha ore body and give us important information about high grade mineralization within the deposit, so that we may mine it selectively and with the greatest economic efficiency. As importantly, today's results give us grounds to believe there is good potential to discover ore east of the current resources. This allows the possibility to expand the resources in that direction. We are making plans now for a new drilling campaign to explore this possibility in early 2011."

Table 1 – Accha Project In-Fill Drill Hole Results
  Drill Hole  
Hole Number From (metres) To (metres) Drill Hole Intersection (metres) (1) Zinc (%) Lead (%)
AC-85(2) 13.0 37.15 24.2 7.05 0.34
  Including 26.25 34.25 8.0 10.90 0.57
AC-86 27.0 31.0 4.0 6.57 1.78
  81.0 87.1 6.1 7.76 0.12
  99.2 102.2 3.0 5.76 0.42
AC-87 66.6 71.2 4.6 5.40 0.30
  77.2 94.8 17.6 4.52 0.22
  Including 77.2 88.2 11.0 6.11 0.31
AC-88 79.9 91.9 12.0 8.59 0.45
  Including 83.9 90.9 7.0 11.31 0.59
  125.9 131.9 6.0 2.51 0.14
AC-89 77.2 82.8 5.6 2.94 0.21
AC-90 95.2 97.2 2.0 5.01 0.34
 (1) Core Widths
 (2) Lost core from 21.3 metres to 22.3 metres and 35.2 metres and 36.2 metres

The in-fill portion of the approximately 5,000 metre drill program recommended by Micon International Limited (**) for the Accha project is now complete. With the information gained, Micon will construct a new model of the Accha deposit as well as a Mineral Resource Estimate and accompanying NI 43-101 Technical Report. A similar geological modeling program is underway at the Yanque project, also located on the Accha Zinc Oxide District. At Yanque, the objective is to upgrade Inferred Resources to Indicated and better define the high grade portions of the Yanque ore body. A new 43-101 Technical Report will also be issued after this work is concluded.

(**) See our news release dated April 29, 2010.

Micon International Limited has provided consulting services to the international mining industry since 1988, with particular focus upon mineral resource estimations, metallurgical services, mine design and production scheduling, preparation of pre-feasibility and feasibility studies, independent reviews of mining and mineral properties, project monitoring, independent engineer roles, financial analysis and litigation support.

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 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 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). In particular, investors are cautioned not to assume that any part or all of the Accha deposit will ever become a mine. Such information contained herein represents management's best judgment as of the date hereof based on information currently available.

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