Zincore Reconnaissance Work Indicates New Copper Porphyry Targets In
Region of Prolific Copper Project Development
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/23/13 -- Zincore
Metals Inc. (TSX:ZNC)(LMA:ZNC) ("Zincore" or the "Company") reports
that as a result of the integration of extensive airborne geophysical
surveys, satellite image and structural interpretations as well as
ground geochemical and geological work it has highlighted new, high
profile copper exploration targets on the Company's 100%-owned, Accha
Zinc Oxide District ("AZOD") property, located in the prolific
Yauri-Andahuaylas copper district in southern Peru. This exploration
work was carried out as part of a copper reconnaissance program that
commenced pursuant to a strategic partnership private placement made
into the Company by First Quantum Minerals ("First Quantum") on May
10, 2012. Zincore and First Quantum have also formed a
joint-venture(i) to explore Zincore's Dolores copper-molybdenum
porphyry which is located in the same area.
Zincore CEO and President Jorge Benavides commented "These are very
interesting reconnaissance results as the various indicators -
magnetic, radiometric, geochemical and geological anomalies - all
overlap and point to two first-class copper porphyry exploration
targets at Laca-Laca and Larisa, and secondary targets at Gema,
Bellavista, Atenas One, Atenas Two and Gorrion. Given the correlation
of indicators, we believe that exploring these highly prospective
targets further in 2013 could help bring new value to our
To view a map of the new copper targets on the Accha Zinc Oxide
District property, click here.
(i)For more information about the May 10, 2012 First Quantum private
placement and Dolores joint-venture details, please see our news
releases dated May 8th, 10th and July 13th 2012.
Mr. Benavides added "Although our Accha Zinc Oxide District and
Dolores Copper porphyry projects remain our current focus, this
geophysical and geochemical work has produced excellent targets which
are located in a prolific area of major mining development. This area
includes Xstrata's Tintaya and Las Bambas, HudBay's Constancia and
First Quantum's Haquira. Aside from our Dolores project, which is
joint-ventured with First Quantum, there has be
en no exploration for
copper on our 50,000 hectare AZOD property since 2006 and we believe
the combination of being located in a mineral-rich area with limited
exploration using modern methods presents an excellent opportunity."
The geophysical surveys carried out by New Sense Geophysics Ltd.
("NSG"), covered all concessions on Zincore's entire AZOD property
package of more than 50,000 hectares and consisted of aerial
geophysical studies comprising approximately 4,800 line kilometers at
200 metre spacing. In addition the full scope of reconnaissance
activities included an airborne magnetometric and spectrometric
survey of the 60,000 hectares of the AZOD block of claims plus
Dolores area, ASTER multispectral satellite image interpretation, DEM
structural interpretation, district geological reconnaissance,
partial district stream sediment geochemical survey and partial
district soil geochemistry survey. Fathom Geophysics, ("Fathom")
helped analyze and interpret the airborne geophysical and ground
data, as well as the ASTER images and structural model.
The sum total of this work indicates the exploration focus should be
at two priority targets: the Laca-Laca Porphyry target and the Larisa
Porphyry target. Both of these targets exhibit overlapping magnetic,
radiometric, geochemical and geological anomalies that make them
first class detail exploration opportunities.
Laca-Laca is located approximately 5 kilometres north of Dolores and
exhibits magnetic and radiometric anomalies over 5 kilometres. Copper
and molybdenum anomalies have been observed in sediment samples and
ASTER images indicate potassium alteration anomalies. A first soil
sampling campaign has been completed which covers part of the
geophysical anomaly where interesting values of copper and molybdenum
were discovered. The geology in this area is similar to that found in
the Dolores Project, making Laca-Laca a priority exploration target.
Larisa is located approximately 5.5 kilometres west of the Accha zinc
oxide deposit where magnetic and radiometric anomalies have been
observed as well as sediment samples exhibiting copper and molybdenum
Gema, located 2 kilometres east of the Company's Yanque zinc-lead
oxide target, exhibits magnetic and radiometric anomalies in a
favourable geological setting as well as potassic alteration as
indicated by ASTER image analysis. Near the southern-most anomaly,
rock samples with higher grade copper have been discovered.
Bellavista is located 3 kilometres east of the Accha zinc oxide
deposit in a favourable geological setting and exhibits potassic
alteration according to ASTER image analysis as well as molybdenum
anomalies in sediments.
Atenas One and Two are located 12.5 and 23 kilometres respectively
southeast of the Accha zinc oxide deposit, in a favourable geological
setting and exhibit potassic alteration as indicated by ASTER image
Gorrion is located 28 kilometers southeast of the Accha zinc oxide
deposit in a favourable geological setting and exhibits potassic
alteration as indicated by ASTER image analysis.
Geochemical sediment sampling has not yet been conducted at Atenas
One, Atenas Two or Gorrion. It is expected that this work will be
conducted in 2013.
New Sense Geophysics Ltd. provides high quality airborne
magnetic/gradiometer and spectrometer surveys using fixed-wing and
helicopter platforms. The company is owned and operated by W. E. S
(Ted) Urquhart Ph.D. NSG's mission is to provide airborne survey
services utilizing innovative technologies and focusing on collecting
the highest quality airborne geophysical data in the safest possible
manner. NSG operates from two offices. Its Markham, ON, Canada office
manufactures equipment, tests it and dispatches it throughout the
world. The second office is in Santiago, Chile where NSG offers
airborne geophysical services in Spanish to its South American
clients. NSG has performed airborne geophysical surveys in Africa,
North America, Europe, the Middle East and South America and has
flown in excess of 500,000 line kilometres in the last 2 years for
clients such as major companies like: USGS, BHP Billiton, Kennecott,
Teck Cominco, Barrick Gold, Kinross and Gold Fields.
Fathom Geophysics LLC of Newark, Ohio, analyzes and interprets
geophysical and other data for explorers and miners in the mineral
and energy resources industries. Fathom's main areas of expertise
include enhancement filtering and rapid, objective feature extraction
applied to potential field (gravity and magnetic) data and
topographic data. Fathom has developed their own software which can
be modified readily to extract specific features and for specific
targeting requirements. Fathom's analysis and interpretation of the
Zincore data was conducted by the company's principals Amanda
Buckingham and Daniel Core. Fathom's clients have included First
Quantum Minerals, Auzex Exploration, Talisman Mining, Kiska Metals
and Hochschild Mining.
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
ore 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
Company's new and existing projects 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
Zincore Metals Inc.
Manager, Investor Relations
(604) 669-6611 ext. 3
(604) 669-6616 (FAX)
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