Zincore Metals Inc.

Zincore Metals Inc.

October 04, 2011 07:20 ET

Zincore Intersects Good Copper and Molybdenum Mineralization at Dolores Porphyry Project, Including 0.49% Cu Eq(i) Over 72.4 Metres

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2011) - Zincore Metals Inc. (TSX:ZNC)(BVLAC:ZNC) ("Zincore" or the "Company") is pleased to report assay results from eight drill holes at the Company's 100%-owned, Dolores copper-molybdenum porphyry property located in the prolific Yauri-Andahuaylas Copper District in southern Peru.

Highlights include: 0.32% Cu Eq(i) over 144.4 metres, including 0.49% Cu Eq(i) over 72.4 metres in hole DOL-9; 0.29% Cu Eq* over 116 metres in hole DOL-10; and 0.20% Cu Eq* over 33.7 metres in hole DOL-7. To view a complete list of Dolores drill results, please see Table 1 below.

Zincore CEO and President, Jorge Benavides, commented, "This first drill program at Dolores has intersected excellent copper and molybdenum mineralization in six of the ten holes drilled, including very good grades and widths in holes DOL-2, 9, and 10(ii). We also intersected favourable copper and molybdenum mineralization in holes DOL-6, 7 and 8. (Hole DOL-7 was abandoned in the altered and mineralized porphyry with anomalous values of copper and molybdenum when the drill hole intersected an aquifer). We believe that the relative proximity and similarity of mineralization in these six holes is strong evidence of a large porphyry system focused south of the currently drilled area. We are encouraged by this prospect given the scope (Holes DOL-6 and 9 are about one and a half kilometres apart with holes DOL-2, 7, 8 and 10 lying in between) and the fact that this area remains largely open and unexplored."

Holes DOL-2, 7, 9, and 10 all intersected moderate potassic alteration in the mineralized diorite porphyry along with moderate to strong quartz veining over significant widths. In addition, holes Dol-6, 7 and 8 intersected wide sections of garnet skarn with anomalous to sub-economic copper values over 4 to 8 metre intervals.

Company geologists have extended the geological mapping and sampling southward in order to better understand the vectors controlling the emplacement of the copper-molybdenum mineralization. This work has confirmed that the altered and mineralized porphyry extends to the south for at least another 1.5km and possibly further. Once the mapping is completed, the Company plans to expand the IP and magnetic geophysical survey coverage over this very prospective ground to help define a second phase diamond drill program.

Mr. Benavides concluded, "The Yauri-Andahuaylas Copper District hosts a number of world class deposits including Xstrata's Tintaya and Las Bambas projects, the Haquira project which was purchased last year by First Quantum Minerals for approximately $460 million and the Constancia project, which was recently purchased by HudBay Mining for approximately C$520 million. The results from the first ten holes drilled at Dolores provide strong evidence that Dolores is a mineralized copper-molybdenum porphyry system with significant potential to become a major new porphyry deposit in a very prolific copper district. As such, Zincore will continue to explore Dolores with the objectives of localizing the higher grade core of the system and developing an understanding of the potential size of the deposit."

To view a map showing the location of the Dolores drill holes, please click here (http://www.zincoremetals.com/en/projects/dolores_map.php) or visit our website at www.zincoremetals.com.

Table 1 - Dolores Drill Results
From (metres) To (metres) Drill Hole Intersection(1) Copper (%) Molybdenum (%) Copper Equivalent Total (%)(i)
DOL-10 79.7 195.7 116.0 0.15 0.020 0.29
and 326.2 355.2 29.0 0.13 0.013 0.22
and 421.8 430.8 9.0 0.45 0.004 0.48
DOL-9 44.9 189.3 144.4 0.21 0.016 0.32
including 44.9 117.3 72.4 0.31 0.026 0.49
including 142.4 148.0 5.6 0.23 0.017 0.35
including 181.0 189.3 8.3 0.24 0.012 0.32
and 278.3 292.5 14.2 0.20 0.011 0.28
DOL-8 21.6 26.3 4.7 0.16 (iii) 0.16
and 111.2 117.9 6.7 0.24 (iii) 0.24
and 200.0 208.1 8.1 0.43 (iii) 0.43
and 638.8 644.8 6.0 0.20 (iii) 0.20
DOL-7 105.3 139.0 33.7 0.12 0.012 0.20
and 174.5 188.3 13.8 0.07 0.02 0.24
DOL-6 21.1 29.8 8.7 0.23 (iii) 0.23
DOL-5 (iii)
DOL-4 (iii)
DOL-3 (iii)
DOL-2 17.5 315.1 297.6 0.20 0.011 0.27
including 30.5 262.1 231.6 0.22 0.011 0.29
and 30.5 103.1 72.6 0.26 0.009 0.32
and 151.1 260.1 109.0 0.23 0.013 0.32
DOL-1 (iii)
(1) Core Widths
(i) Copper Equivalent Total calculated using TD Newcrest long term prices of US$2.25/lb copper and US$15.00/lb molybdenum. Metallurgical recoveries and net smelter returns are assumed to be 100%.
(ii) Please see our news release dated March 3, 2011.
(iii) No significant values

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 drill program are digested in an aqua regia acid digestion and analyzed for copper and molybdenum with an instrumental finish. In addition, all samples are analyzed for 34 elements by ICP-ES.

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.

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 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 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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