Zincore Metals Inc.
TSX : ZNC
BVLAC : ZNC

Zincore Metals Inc.

May 19, 2011 07:00 ET

Zincore In-Fill Drilling Continues to Successfully Intersect Higher Grade Zinc, Lead and Silver at Yanque Project in Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2011) -Zincore Metals Inc. (TSX:ZNC)(BVLAC:ZNC) ("Zincore" or the "Company") announces it has received assay results from sixteen diamond drill holes of in-fill, definition drilling at its Yanque project, on the Company's 100%-owned, Accha Zinc Oxide District in southern Peru.

Highlights from these holes include: 18.89% Zn Eq* over 5.0 metres and 7.92% Zn Eq* and 38.2 g/tonne Ag over 12.0 metres in hole YA-70; 15.62% Zn Eq* over 5 metres in hole YA-61; 13.95% Zn Eq* over 6.0 metres in hole YA-67; 10.83% Zn Eq* over 10.0 metres in hole YA-64; 10.22% Zn Eq* over 6.5 metres in hole YA-56 and 6.02% Zn Eq* and 21.4 g/tonne Ag over 10.5 metres in hole YA-63.

Zincore President and CEO, Jorge Benavides, commented: "We continue to intersect grades of zinc and lead that are well above the deposit average. This is very positive as one of our main goals for this in-fill drilling program is to better define the high grade zinc and lead zones of the Yanque deposit, so that we may selectively extract the higher grades in the early years of a mine plan and improve the economics of a potential mine. We were very successful in defining the high grade zones for the Accha deposit as detailed in a recent 43-101 Technical Report and we are optimistic that we may be able to achieve similar results for Yanque."

Mr. Benavides added, "It is significant that holes 65, 67 and 71, which intersected good mineralization, are located at the northeast edge of the known deposit. This indicates the deposit is open in that direction and we may be able to further grow the resources at Yanque."

Similar to previously released results for this drill program, these assay results show good grades of silver. Significant silver mineralization has now been found in three different locations of the Yanque deposit. **

Table 1 – Yanque Project In-Fill Drill Hole Results

Drill Hole
Hole
Number
From
(metres)
To
(metres)
Drill Hole Intersection (metres) (1)Zinc
(%)
Lead
(%)
Silver
(g/t)(2)
YA-7111.023.012.03.821.43***
Including16.022.06.05.792.31***
YA-704.825.821.05.562.00***
Including4.89.85.014.354.54***
And55.866.811.02.315.27***
And83.295.212.00.887.0438.32
YA-69***
YA-680.215.215.01.954.58***
And19.026.07.04.870.36***
And50.064.014.00.681.92***
YA-6723.537.514.06.901.91***
Including27.533.56.010.223.73***
Drill Hole
Hole
Number
From
(metres)
To
(metres)
Drill Hole Intersection (metres) (1)Zinc
(%)
Lead
(%)
Silver
(g/t)(2)
YA-664.09.05.03.150.17***
YA-6535.049.514.54.072.20***
YA-640.010.010.08.002.83***
YA-630.010.510.51.454.5721.4
YA-6216.022.56.54.100.91***
And51.062.011.02.740.46***
YA-610.511.511.05.483.34***
Including0.55.55.08.906.72***
And40.446.46.01.107.15***
YA-6055.462.47.02.671.19***
YA-59***
YA-5877.085.18.12.092.39***
YA-57***
YA-56(2)2.723.620.95.860.67***
Including7.715.78.07.170.82***
And(2)25.934.99.03.400.63***
And67.983.415.50.675.57***
Including73.980.46.50.429.80***
1. Core Widths
2. Lost drill core between 23.6 and 25.9 metres
*** No significant values

These 16 holes represent 1,485.00 metres of drilling and the Company has now completed 2,773.40 metres of a planned 10,000 metre drill program intended to upgrade known Inferred Resources to Indicated. It is also expected that the drilling will better define the high grade portions of the Yanque ore body. 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 project, 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 District prospects. 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.

* 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 release dated March 23, 2011.

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 4 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 Ag, 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 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, 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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