ZINCO ACQUIRES ADDITIONAL MINING CONCESSIONS IN THE CUALE DISTRICT, JALISCO VMS PROJECT, MEXICO
(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
4-Oct 2011
Zinco Mining Corporation (TSX-V: ZIM, FRA: 61Z) has acquired 100% of mining
concessions San Antoñio Fracción II (T. 219743) and San Antoñio 2 Fracc 1 (T.
219744) from Antoñio Briseño Guerra for $100,000 (U.S.) and 250,000 common
shares of the Company. Together, these newly acquired concessions overlap an
area of 68.6 hectares centred on Cerro La Descubriadora, a prominent mountain
that defines the eastern part of the Cuale VMS mining camp. They are located
internal to Zinco's "La Diana" concession, which contains both the silver-rich
San Juan deposit 1.4 kilometres southwest of the San Antoñio concessions, and
most of San Rafael, a historic gold and silver mine partially overlapped by both
La Diana to the south and the San Antoñio 2 Fracc. 1 concession to the north.
The San Antoñio concessions are important to Zinco's ongoing exploration program
in the area because they contain several historic gold mines ("Minas de Oro")
that could represent the centre of the mineralizing system at Cuale. The Minas
de Oro on these concessions include Grandeza, Las Talpas, Caldero, El Rosario
and Cataminas, as well as the northern part of San Rafael. Zinco believes that
there is additional metal potential along strike and down-dip of these historic
mines and workings.
Grandeza mine was the largest of the Minas de Oro with historic production of
756 661 tonnes of ore grading 1.89 g/t Au, 22 g/t Ag, 1.41% Pb, 2.35% Zn and
0.2% Cu. Grandeza was mined from underground by Industrias Peñoles in the mid-
1980's. Collectively, there are about 2850 metres of underground workings on
six different levels between 2010 metres elevation and 2090 metres elevation at
Grandeza, all within a 110 metre long by 70 metre wide area 1.4 kilometres
southeast of the Company's Patrocinio Camp.
Las Talpas, also an underground mine, is accessed from a portal 200 metres
southeast of Grandeza. The Company has mapped seven levels of workings between
1920 and 2020 metres elevation. The mapping shows that collectively, there are
more than 3000 metres of underground development at Talpas, all in an area about
200 metres long by 140 metres wide. In the mine, there are several production
stopes that are still full of partially broken ore. Zinco has taken a few rock
chip-channel samples with results as follows:
* Level 2020 (stockwork) sample 26285: 0.5% Zn, 0.1% Pb, 0.4% Cu, 11 g/t Ag,
0.33 g/t Au across 3 m
* Level 1990 (stope pillar) sample 25831: 34.7% Zn, 26% Pb, 0.4% Cu, 60 g/t
Ag, 1.26 g/t Au across 1 m
* Level 1980 (stope pillar) sample 29954: 3.8% Zn, 2.2% Pb, 0.3% Cu, 25 g/t
Ag, 0.23 g/t Au across 10 m
* Level 1940 (stope pillar) sample 25832: 12.6% Zn, 1.7% Pb, 0.6% Cu, 29 g/t
Ag, 0.67 g/t Au across 2 m
The 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.
Bedding appears to be the primary control on mineralization, and most
measurements, both from surface and underground, imply that the geological
formations strike southeasterly and dip moderately southwest in this area.
Southwesterly trending, northwesterly dipping faults might be important syn-
mineral feeder structures to the mineralization that could localize higher grade
material. Reported past production from Las Talpas was 141,425 tonnes of 1.91%
Zn, 0.65% Pb, 0.16% Cu, 24 g/t Ag and 0.3 g/t Au. The reported tonnage is small
compared to the size of the underground stopes.
Caldero occurs 140 metres southwest of the Talpas Portal at 2078 m elevation.
From underground, the mineralization is accessed from the 1990 metre level of
Talpas mine. The tunnel goes 70 metres to the southwest, then follows the
Caldero Horizon for 100 metres to the southeast. There are 4 draw points for
ore along this tunnel. A sample cut across the very end of the stope contains
16.5% Zn, 7.7% Pb, 0.35% Cu, 42.5 g/t Ag and 1.6 g/t Au across 1.45 m (sample
25828).
El Rosario is 325 metres south of the Talpas portal, and rock dumps outside the
mine adits occur at 1980 m elevation and 1920 m elevation. Samples of the rock
dumps, collected by the Company prospector, contain metal values as follows:
Rosario Upper (25820): 32.3% Zn, 8.6% Pb, 0.2% Cu, 361 g/t Ag and 0.42 g/t Au
* Rosario Lower (25822): 23.5% Zn, 15.4% Pb, 0.4% Cu, 465 g/t Ag and 0.66 g/t
Au
* Rosario Lower (25821): 45.2% Zn, 3.6% Pb, 0.1% Cu, 209 g/t Ag and 0.21 g/t
Au
No geological inspections of the Rosario mines have yet been done by the
Company. The silver grades are high compared to samples from Talpas, and this
area represents a new priority for Zinco.
Geologically, the reason for the elevated gold content in the Minas del Oro
relative to other mines in the Cuale District might be because they are proximal
to a syn-mineral intrusion. Based on the 3-D inversion of airborne magnetic
data collected by Fugro Airborne in 2006, and interpreted by Trent Pezzot of SJ
Geophysics in late 2007, it appears that Cerro La Descubriadora is cored by an
area of relatively high magnetic susceptibility that might indicate the presence
of an intrusive body. Such an intrusion might represent the "heat pump"
responsible for circulating mineralizing fluids in the Cuale VMS District.
Spatially, the gold and copper-rich deposits of Cerro La Descubriadora occur
close to near-surface "apophyses" of magnetic susceptibility that might define
such an intrusion.
Qualified Person
This press Release was reviewed 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 reported in this News Release was
completed by Acme Analytical Laboratories according to the procedures described
in Zinco's News Release (NR 2011.05) dated 17 August 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 management's assessment of
future plans and operations, may constitute forward-looking statements under
applicable securities laws and necessarily involve risks associated with mining
exploration and development, volatility of prices, currency 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 ACCURACY 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#1551761]
Unternehmensinformation / Kurzprofil:
Datum: 04.10.2011 - 09:30 Uhr
Sprache: Deutsch
News-ID 72174
Anzahl Zeichen: 8678
contact information:
Town:
Surrey, BC
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 194 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ZINCO ACQUIRES ADDITIONAL MINING CONCESSIONS IN THE CUALE DISTRICT, JALISCO VMS PROJECT, MEXICO"
steht unter der journalistisch-redaktionellen Verantwortung von
Zinco Mining Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
