VANCOUVER, BRITISH COLUMBIA--(Marketwire - Mar 21, 2013) - Zincore Metals Inc. (ZNC.TO)(ZNC.TO) ("Zincore" or the "Company") is pleased to report assay results from Holes DOL-14, DOL-15, DOL-16 and DOL-17, the final holes of the first drill program under a joint-venture with First Quantum Minerals ("First Quantum") formed to explore the Company''s 100%-owned, Dolores copper-molybdenum porphyry property located in the prolific Yauri-Andahuaylas copper district in southern Peru.
Highlights from these results include: 72.35 metres of 0.26% Cu Eq*, including 21.3 metres of 0.44% Cu Eq* in Hole DOL-17 and 298.6 metres of 0.16% Cu Eq*, including 20.0 metres of 0.40% Cu Eq* in Hole DOL-15. For a list of latest drill results please see Table One below.
To view a map of Dolores exploration activity, please click here.
* Copper Equivalent Total calculated using TD Securities long term prices of US$3.00/lb. copper and US$12.00/lb. molybdenum and do not include any potential gold or silver credits. Metallurgical recoveries and net smelter returns are assumed to be 100%.
Zincore CEO and President, Jorge Benavides, commented, "These results confirm the existence of a very large porphyry system at Dolores encompassing at least 3.5 kilometres north to south and 1.5 kilometres east to west. Within this area we have intersected six different phases of porphyry intrusion; one is pre-mineralization, three are mineralized and two are post-mineralization. The multiphase nature of porphyry intrusion and the widespread occurrence of copper-molybdenum mineralization within this large area attest to the mineral endowment of the system."
Mr. Benavides concluded, "The work completed to date at Dolores is preliminary, but the drill and trench results, combined with extensive aerial and ground geophysical work, provide us with an important body of information that requires re-interpretation to plan the next phase of work at Dolores, which will begin after the end of the rainy season in May. It is our intention to focus our future exploration efforts in finding a higher grade mineralized body within the large Dolores system."
A summary of these latest drill results includes:
Hole DOL-17 was drilled to a depth of 533.9 meters, 1.5 kilometres north of hole DOL-02 and approximately 500 meters higher in elevation, at the contact between the tonalite porphyry and sediments, coincident with a surface copper-molybdenum soil anomaly. Over the first 280 meters, DOL-17 cut sediments and thin intrusive dikes, afterwards it cut quartz monzonite porphyry to the end of the drill hole with predominant chlorite-clay alteration. The results from DOL-17 include 72.4 metres of 0.26% Cu Eq*, with 21.3 metres of 0.44% Cu Eq*, consisting of disseminated chalcopyrite and quartz and chalcopyrite veinlets. These results open up an area of interest for exploration, as the 1.5 kilometres separating it from DOL-02, which intersected 297.6 metres of 0.24% Cu Eq*, including 72.6 metres of 0.30% Cu Eq* and 109.0 metres of 0.28% Cu Eq*(2), remains unexplored by drilling to date.
The first 317 meters of Hole DOL-15, which is located between holes DOL-02 and DOL-12, cut quartz diorite porphyry, followed by alternations of quartz diorite porphyry and quartz monzonite porphyry intrusions for the next 409.4 meters. From 23 to 204 meters the prevailing alteration is potassic overlain by chlorite while deeper to the final depth it reports mainly propylitic alteration. Results from DOL-15 included 298.6 metres of 0.16 % Cu Eq*, with 20.0 metres of 0.40 % Cu Eq*.
Holes DOL-14 and DOL-16 were drilled from the same platform, located 200 meters north, northwest from hole DOL-7 and 450 meters east of hole DOL-10. Hole DOL-14 measured 333.4 meters in length and was oriented towards the east, cutting a structural corridor that turned out to be secondary to the main mineralized corridor. DOL-14 intersected quartz diorite porphyry for 42.5 meters, followed by sediments containing pyrite and some micro-diorite dikes.
Hole DOL-16, was drilled northwest 203.6 meters and the initial 153 meters cut quartzite with interdigitations of intrusives of different compositions, ending with alternating tonalite, orthophyre and quartz diorite porphyries.
(2) For more information about results for Hole DOL-2, please see our news release dated March 3, 2011.
|Table One - Dolores Drill Results|
|Drill Hole |
|(1) Core widths|
|* Copper Equivalent Total calculated using TD Securities long term prices of US$3.00/lb. copper and US$12.00/lb. molybdenum and do not include any potential gold or silver credits. Metallurgical recoveries and net smelter returns are assumed to be 100%.|
The Dolores Copper Porphyry Project
Zincore''s 100%-owned Dolores Project is located on the Company''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 Company has also completed an extensive ground magnetic and induced polarization survey of the Dolores area, as well as a regional aeromagnetic and radiometric study. It is expected that this new data will contribute to a better understanding of the deposit and help focus future exploration work.
To view the Dolores joint-venture details, please click here.
Vernon Arseneau, P.Geo., is an independent geologist registered in Quebec, Canada. He 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.
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 drill core samples were delivered in sealed security bags to ALS Global in Lima. All samples were analyzed by ICP (48 elements) using four acid digestion. Copper values were also determined by four acid digestion at ore grade level and gold was assayed by fire assay.
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 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.