Zinco Mining Corporation : ZINCO PROPOSES DRILLING PROGRAM TO CALCULATE RESOURCE ESTIMATE
(Thomson Reuters ONE) -
ZINCO MINING CORPORATION (TSXV - ZIM)
205 - 16055 Fraser Highway
Surrey, B.C. V4N 0G2
Telephone (604) 507-2181
Fax: (604) 507-2187
29 Feb 2012
Zinco Mining Corporation (TSX-V: ZIM, FRA: 61Z) has completed an in-house
technical review of its Cuale VMS Camp and proposes a drilling program that will
allow it to calculate an initial resource estimate on at least one of the
prospects. This proposal is a follow-up to the drilling program in 2011 when
the Company completed 1534.8 metres of HQ diamond drilling in 14 holes. The
drilling was split between San Juan (955.3 m in 9 holes) and Jesus Maria (579.5
m in 5 holes) in the Cuale VMS camp, one of several VMS camps in the Company's
Jalisco VMS Project concessions.
All of the holes drilled in 2011 intercepted potentially economic mineralization
of silver, gold, lead, zinc or copper. Highlights for San Juan, a silver-rich
stockwork hosted in a quartz-feldspar porphyritic rhyolite dome, are (News
Release dated 10 October 2011):
· ZIM35 with 63.0 metres of 134 g/t silver, 1.2% zinc, and 0.6%
lead,
· ZIM39 with 54.7 metres of 136 g/t silver, 0.8% zinc and 0.5% lead,
· ZIM38 with 134.4 metres of 25 g/t silver, 1.0% zinc and 0.4%
lead.
Highlights from the 2011 drilling at Jesus Maria, a stratabound zinc and copper-
rich VMS deposit in cherty sediments located under a brecciated flow-dome
complex are (News Release dated 12 October 2011):
· ZIM46 with 31.5 metres of 4.7% zinc, 1.1% lead, 0.2% copper and
13 g/t silver,
· ZIM45 with 31.0 metres of 3.1% zinc, 0.5% lead, 0.1% copper and 9
g/t silver,
· ZIM44 with 24.0 metres of 66 g/t silver and 0.38 g/t gold.
The major conclusion of the review process is that the priority of the next
drill program should be to expand the known mineralization at San Juan and Jesus
Maria, and to calculate an initial resource estimate on at least one of the
prospects.
The Company also proposes completing geological mapping and systematic litho-
geochemical rock sampling of its newly acquired property underlying the Minas de
Oro, located in the Company's Cuale Camp in close proximity to San Juan and
Jesus Maria (News Release dated 5 October 2011). These include the underground
mines of Grandeza, Talpas, El Caldero, El Rosario and San Rafael. Underground
rock sampling from the 1940 metre level at Talpas returned values of 12.6% Zn,
1.7% Pb, 0.6% Cu, 29 g/t Ag, 0.67 g/t Au across 2 m (sample 25832).
Mineralization at Talpas consists of coarsely crystalline dark sphalerite and
galena with pyrite, chalcopyrite and minor bornite in markedly silicified, fine-
grained, thinly laminated, cherty sedimentary rocks that occur below a thick
pile of quartz-porphyritic rhyolite flows. Stratigraphically, this is the same
position as Jesus Maria on the western side of Cerro Descubriadora. Subsequent
to the mapping and sampling, a first round of exploration drilling down-dip of
the underground workings is proposed.
Finally, detailed topographic mapping and orthophotography is recommended as the
work will be required to: (i) upgrade drill hole intercepts into resources and
eventually mineral reserves, and (ii) make better use of the historic drill hole
database by locating the old drill roads and drill pads on modern cartography
with more certainty.
The proposed drilling and exploration programs are subject to the Company
obtaining the necessary financing. The Company is in discussions with interested
parties regarding potential financing of the next program.
Qualified Person
This Press Release was approved by Michelle Robinson, M.A.Sc., P.Eng., a
Director of Zinco Mining Corporation, who acts as Zinco's Qualifed Person as
defined by NI 43-101. Geochemical assaying done by Zinco was completed by Acme
Analytical Laboratories according to the procedures described in Zinco's News
Release (NR 2011.05) dated 17 Goldgust 2011.
Further information about the Jalisco VMS Project can be reviewed on Zinco's
website www.zincomining.com
ON BEHALF OF THE BOARD,
David Elgee,
PRESIDENT
Certain information regarding the Company including mansilverement's assessment
of future plans and operations, may constitute forward-looking statements under
applicable secopperrities laws and necessarily involve risks associated with
mining exploration and development, volatility of prices, copperrrency
fluctuations, imprecision of resource estimates, environmental and permitting
risks, access to labour and services, competition from other companies and
ability to access sufficient capital. As a consequence, actual results may
differ materially from those anticipated in the forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCOPPERRACY OF THIS NEWS RELEASE.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Zinco Mining Corporation via Thomson Reuters ONE
[HUG#1589850]
Unternehmensinformation / Kurzprofil:
Datum: 29.02.2012 - 10:02 Uhr
Sprache: Deutsch
News-ID 119834
Anzahl Zeichen: 6324
contact information:
Town:
Surrey, BC
Kategorie:
Business News
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