Zincore Metals Inc.
TSX : ZNC
LMA : ZNC

Zincore Metals Inc.

May 02, 2012 08:25 ET

Zincore Samples High Grade Copper Outcrops Including 3.35% Cu at Dolores Porphyry Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 2, 2012) - Zincore Metals Inc. (TSX:ZNC)(LMA:ZNC) ("Zincore" or the "Company") is pleased to report that it has discovered high grade copper mineralization during surface exploration work at an undrilled area of the Company's 100%-owned, Dolores copper porphyry project in southern Peru. The latest surface samples, from three separate areas, include evidence of a new skarn area with samples of up to 3.35% and 3.11% Cu. All three areas are located between 1.5 to 2 kilometres south of holes DOL-9 and DOL-10, two of the most highly prospective holes drilled at the project to date, and Trench One, which has shown 0.76% Cu equivalent* over 52 metres.

The Company also reports that it has discovered higher grade copper and molybdenum mineralization in the first results from Trench Two, including 0.61% Cu equivalent* over eleven metres. Trench Two is located approximately 500 metres and 1 km respectively from holes DOL-9 and DOL-10.

For Trench Two results, please see Table A below. To view the chip sample results, please see Table B. To view a map showing the location of the most recent Dolores sample locations, drill holes and trenches, please click here: http://www.zincoremetals.com/en/projects/dolores_map.php or visit our website at www.zincoremetals.com

Zincore President and CEO, Jorge Benavides commented, "These results provide further evidence of two important points. First, as we explore further south of the currently drilled areas we continue to see higher grades of copper mineralization. This is strong evidence that we are vectoring into the heart of the mineralized porphyry. Second, we have been working to extend the geological mapping and sampling south of the currently drilled area in order to better understand the vectors controlling the emplacement of the copper-molybdenum mineralization. These results confirm that the altered and mineralized porphyry extends to the south of the drilled areas for at least 2 km and possibly further. The bottom line is that Dolores is a big porphyry system."

Table A - Dolores Trench Two - one metre intervals
Location
From
(metres)
To
(metres)
Copper
(%)
Molybdenum
(%)
Copper
Equivalent
(%)*
Gold
(g/t)
Silver
(g/t)
0 1 0.12 0.001 0.13 0.02 NSV
1 2 0.27 0.027 0.42 0.01 0.8
2 3 1.26 0.028 1.41 0.07 4.3
3 4 1.35 0.121 2.01 0.14 4.1
4 5 0.93 0.191 1.96 0.09 3.3
5 6 0.30 0.004 0.32 0.01 0.6
6 7 0.09 0.003 0.11 0.01 NSV
7 8 0.05 0.001 0.05 0.01 NSV
8 9 0.01 0.000 0.01 0.01 NSV
9 10 0.20 0.001 0.20 0.01 NSV
10 11 0.09 0.001 0.10 0.01 NSV

The copper and molybdenum mineralization encountered in Trench Two consists of primary sulphides and is hosted within the same altered quartz diorite porphyry encountered in Trench One and the holes drilled to date. Trench Two was discontinued to the south at 11 metres due to high water levels in a nearby stream and the Company expects to continue work once local conditions permit.

Table B - Selected Rock Chip Samples - one metre
Sample Copper
(%)
Molybdenum
(%)
Copper
Equivalent
(%)*
Gold
(g/t)
Silver
(g/t)
21760 1.86 NSV 1.86 NSV NSV
21762 3.35 NSV 3.35 0.10 0.8
21763 3.12 0.001 3.12 0.15 NSV
21764 0.51 0.002 0.52 0.03 0.4

The rock chip samples were taken from a recently discovered skarn and consist of secondary oxides. The Company expects to expand the work in this area of outcrops in the coming weeks.

The Dolores property is located in the prolific Yauri-Andahuaylas Copper District in southern Peru near other copper porphyries being developed such as Xstrata's Las Bambas, HudBay's Constancia and First Quantum's Haquira. Company geologists have been working to extend the geological mapping and sampling south of the currently drilled area 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 2 km 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.

* Copper Equivalent Total calculated using TD Newcrest long term prices of US$2.75/lb. copper and US$15.00/lb. molybdenum and do not include any potential gold or silver credits. Metallurgical recoveries and net smelter returns are assumed to be 100%. Please see our news releases dated April 3rd and March 3rd 2012, and October 4th, 2011 for further details on Dolores trenching and drill results.

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 lithogeochemical sampling and analysis of rock chips, trench, tunnel and drill core samples. All channel samples were delivered in sealed security bags to ACME Labs Laboratory in Lima. All samples were analyzed by ICP (34 elements) using aqua regia digestion. Copper values were also determined by aqua regia digestion at ore grade level and gold was assayed by fire assay.

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 19, 2012 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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