Zincore Metals Inc.

Zincore Metals Inc.

October 06, 2010 08:15 ET

Zincore Infill Drilling a Success-Continuity of High Grade Mineralization Confirmed at Accha

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2010) - Zincore Metals Inc. (TSX:ZNC)(BVLAC:ZNC) ("Zincore" or the "Company") reports high grade assay results from a 5,000m in-fill, definition drilling program at its Accha project, on the Company's 100%-owned, Accha Zinc Oxide District in southern Peru.

Highlights from the last six holes include: 12.89% Zn* over 8.45 metres in hole AC-71: 18.51% Zn* over 12.30 metres in hole AC-72; 18.53% Zn* over 21.35 metres in hole AC-73; 19.00% Zn* over 12.30 metres in hole AC-74; 20.12 % Zn* over 36.10 metres in hole AC-75 and; 11.42 % Zn* over 22.70 metres in hole AC-76.This six hole program represents the second phase of in-fill drilling and follows on previous results from eight holes reported on September 15th. Please see Table 1 for complete results of all six holes.

* Numbers given as zinc equivalents using a ratio of 1:1 zinc to lead.

Zincore President and CEO, Jorge Benavides, commented, "We continue to obtain great results from our in-fill drilling program. The thickness of these intervals as well as high grades reported attest to the richness of the Accha deposit and confirm the continuity of the high grade ore body between sections. This information is critical as we move towards the development of a mine plan where we can selectively mine higher grades of ore in the beginning years of a mine and significantly enhance project economics."

The plan for the in-fill drill program was recommended by Micon International Limited(*) and with the current pace of drilling slightly ahead of schedule, Zincore hopes to complete this program by the end of October. Upon completion of the program, a new model of the Accha deposit will be constructed and a Mineral Resource Estimate and accompanying NI 43-101 Technical Report will be generated.

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

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-71 78.85 81.85 2.00 4.67 0.21
  85.85 94.50 8.65 8.19 2.43
  97.50 110.50 13.00 5.15 0.61
  123.65 132.10 8.45 12.85 0.04
  149.80 151.80 2.00 16.00 0.02
AC-72 60.45 74.45 14.00 7.13 4.64
    Including 61.45 68.45 7.00 11.62 8.97
  80.45 92.75 12.30 14.30 4.21
AC-73 38.25 59.60 21.35 16.35 2.18
    Including 46.60 57.60 11.00 26.83 0.26
AC-74 26.80 73.90 47.10 9.88 0.83
    Including 28.80 41.10 12.30 18.54 0.46
    Including 55.80 62.80 7.00 19.01 0.91
AC-75 91.70 127.80 36.10 18.92 1.20
    Including 91.70 103.15 11.45 21.39 0.85
    Including 109.15 122.80 13.65 27.21 2.22
AC-76 116.50 119.50 3.00 6.85 1.28
  128.50 151.20 22.70 10.36 1.06
    Including 130.50 141.00 10.50 15.32 0.45
(1) Core Widths

The six holes in this second phase of drilling represent 862 metres of drilling, and when combined with the first eight holes drilled, account for a total of 2,134 metres of a planned 5,000 metre program.

A similar geological modeling is underway at the Yanque project, also located on the Accha Zinc Oxide District. At Yanque, in-fill drilling is expected to start in early November with the objective 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 be issued after this work is concluded.

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 Labs 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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