Zincore Metals Inc.

Zincore Metals Inc.

February 25, 2014 07:05 ET

Zincore and First Quantum Plan Next Drill Program for Dolores Prophyry Copper Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 25, 2014) - Zincore Metals Inc. (TSX:ZNC)(LMA:ZNC) ("Zincore" or the "Company") is pleased to report that the next phase of drilling at the Dolores copper porphyry project, located in the prolific Yauri-Andahuaylas Copper Belt in southern Peru, is planned to begin after the end of the region's rainy season in April. The upcoming drill program was designed in conjunction with the Company's Dolores project partner, First Quantum Minerals Ltd., ("First Quantum"), and will test a reinterpretation of the geological model for Dolores resulting from a comprehensive synthesis and review of all new and existing geochemical, geophysical and drilling results.

Zincore President and CEO, Jorge Benavides commented, "By drawing on First Quantum's experience gained at their nearby Haquira project, the technical committee has been able to evaluate new drilling, trenching, aerial and ground geophysical data gathered to arrive at a new interpretation of Dolores. Given that we are talking about a huge system encompassing at least 3.5 kilometres north to south and 1.5 kilometres east to west, this information is invaluable in determining priority drill targets. By focusing on the anomalous areas which best marry all of this information, we believe we will significantly increase our chances as we continue the search for a higher grade mineralized body within the Dolores system".

2013 Results Seed 2014 Work Plan

Work in 2013 confirmed the existence of a large porphyry system at Dolores encompassing at least 3.5 kilometres north to south and 1.5 kilometres east to west. Within this area, five distinct intrusive phases have been recognized; one has been categorized as pre-mineralization, two are believed to be syn-mineralization and two are post-mineralization.

2013 exploration activities included detailed mapping at 1:2,000 scale in the eastern sector of Dolores. This work highlighted the presence of outcrops of syn-mineralization quartz monzonite porphyry with quartz-sericite alteration and disseminated chalcopyrite and quartzites with a strong fracture-controlled malachite mineralization. Rock chip grab samples in this sector returned values ranging from trace up to 2.15 % copper.

With geochemical and geophysical information collected from the field, combined with an extensive evaluation of the diamond drill core from the first seventeen holes completed at Dolores, a new 3D model of the different intrusive stages of Dolores was developed. This work has helped to better understand the geological architecture of the project and its potential to host a significant porphyry-type deposit.

Information gathered in 2013 and the new geological model were also used to identify and prioritize drill targets for the 2014 Dolores diamond drilling program. The program will comprise an initial 800 metres of drilling in two holes. Once results from these holes are received and interpreted, subsequent drilling plans will be determined. The Company is also completing a soil sampling program within the project area to assist in identifying new zones of interest.

All costs for work at Dolores are being funded by First Quantum Minerals Ltd., which elected to proceed to the second earn-in stage for Dolores in late 2013. By proceeding to the second earn-in stage at Dolores, First Quantum earned a vested 30% project interest. The Dolores project is located in the prolific Yauri-Andahuaylas copper belt of southern Peru, approximately 40 kilometres east of the Haquira project, which First Quantum is currently developing.

For a complete overview of the Zincore-First Quantum Dolores agreement, please see our news release dated October 29, 2013.

The Dolores Copper Porphyry Project

The Dolores Project is located on Zincore's Accha Zinc Oxide District in the Yauri-Andahuaylas Copper belt in southern Peru. It is near significant copper mines and developments such as Xstrata's Las Bambas and Tintaya, HudBay's Constancia and First Quantum's Haquira. Zincore has now published results for Dolores from 17 drill holes, three trenches and a number of surface samples. The area has also been the subject of an extensive ground magnetic and induced polarization survey, as well as a regional aeromagnetic and radiometric study.

Quality Assurance and Control

Zincore has implemented a quality control program to ensure best practice in litho-geochemical sampling and analysis of rocks, soils and streams sediments samples. The Company followed industry standard procedures for the work carried out on the AZOD property. Laboratory QA/QC protocols were used for this reconnaissance program and the Company detected no QA/QC issues during review of the data. All samples were delivered in sealed security bags to ALS Global in Arequipa. All samples were analyzed by ME-MS61 (48 elements) using four acid digestion (ICP-MS). Copper values were also determined by four acid digestion at ore grade level and gold was assayed by aqua regia digestion for soils and Atomic Absorption Spectroscopy for rocks.

David Terry, Ph.D, P.Geo., is an independent geologist registered in BC, Canada. He has reviewed and approved the technical disclosure contained in this news release and is the Qualified Person as defined under National Instrument 43-101 for this news release.

About Zincore

Zincore is a Vancouver-based mineral exploration company focused mainly on zinc and related base metal opportunities in Peru. 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 regards to the potential of the Dolores project 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 22, 2013 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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