Dollar bouncing off of 80, Nikkei down 200 points. LME copper supplies up, but zinc and lead warehouse stocks continue to slide.
Zinc supplies down to 67,000 tons. I think this is a new record low:
kitcometals.com
So BWR wts, LTH, ZNC and SWN continuew to be my favorite zinc plays.
ZNC, has always looked good to me, but reading our thread there seems to be some administraiton concerns. Is that correct? What is that about?
TAM, I knew about, but just plain missed the move.
Zincore Metals drills 30 m of 6.3% Zn at Accha-Yanque
2007-07-19 07:28 ET - News Release
Shares issued 77,122,199
ZNC Close 2007-07-19 C$ 0.90
Ms. Meghan Brown reports
ZINCORE DRILLS 30 METRES OF 6.3% ZINC AT ACCHA AND RECEIVES DRILLING PERMIT FOR YANQUE
Zincore Metals Inc. has completed an additional 10 diamond drill holes at its 100-per-cent-owned Accha-Yanque project in southern Peru. These holes are part of a 20,000-metre exploration and definition drilling program at Accha to confirm and infill historical mineral resources and to extend zinc mineralization (which is spatially associated with an east-west-trending fold structure) at depth and along strike to the west.
All 10 holes targeted western extensions of the deposit. Highlights of this recent exploration drilling include:
Hole AC-50, which intersected 30 metres at 6.3 per cent zinc, including an interval of six metres at 16.2 per cent zinc;
Hole AC-52, which intersected 17 metres at 4.2 per cent zinc, including an interval of five metres at 10.4 per cent zinc;
Hole AC-48, which intersected 26 metres at 4 per cent zinc, including an interval of three metres at 9.2 per cent zinc;
Hole AC-49, which intersected eight metres at 5.8 per cent zinc.
All results are estimated true widths and a number of holes intersected multiple zones of mineralization. Full results are presented in the attached table.
The drilling continues to intersect oxide zinc mineralization over a distance approximately 300 metres west of the westernmost extent of outcropping mineralization. The zone remains open and exploration drilling continues to follow the mineralized trend of the western extension. In addition, drill platforms are now being prepared for exploration holes that will target a northern limb of the main anticline structure. These holes will be completed during the coming months.
A total of 52 holes totalling 13,500 metres have been drilled at Accha with three rigs continuing on site. A drill hole location map and new releases relating to previous exploration results are available on Zincore's website.
At the Yanque deposit, 30 kilometres southwest of Accha, Zincore has received a drilling permit from the Peruvian Ministry of Energy and Mines and has signed a drilling contract with Bradley MDH SAC. Field preparations, including surface sampling and mapping, camp installation, and preparation of drill platforms, are nearing completion and drilling will begin shortly. A 10,000-metre drill program is planned at the Yanque deposit.
President and chief executive officer, Timo Jauristo, commented: "Our Accha exploration program continues to be very encouraging and the definition of a northern limb would add additional near-surface mineralization. Consistent with our objective of rapidly completing a prefeasibility study on the Accha-Yanque project, our drilling focus will shortly transition to the Yanque deposit. Rio Tinto's historical drilling combined with our review gives us confidence that exploration at Yanque will confirm the potential of the significant outcropping zinc and lead mineralization."
Hole Intersection Estimated Zinc Lead
No. along drill hole true (%) (%)
From To width
(metres) (metres) (metres)
AC-43 No significant values
AC-44 No significant values
AC-45 261.0 270.8 7.3 5.50 0.44
296.0 299.0 2.2 6.27 0.66
315.3 323.5 6.1 4.79 0.24
354.0 366.0 9.0 4.79 0.70
AC-46 339.3 357.6 12.5 4.17 0.45
AC-47 No significant values
AC-48 338.0 344.0 5.6 7.36 0.81
349.0 352.0 2.8 8.81 3.42
359.0 387.0 26.4 3.96 0.38
including 375.0 378.0 2.8 9.15 1.06
AC-49 254.4 264.4 8.0 5.80 0.51
289.8 296.0 5.0 2.27 .39
AC-50 159.4 192.4 30.4 6.33 1.4
including 173.4 180.4 6.4 16.17 2.78
210.2 216.2 5.5 5.75 0.05
220.2 226.2 5.5 2.37 1.84
AC-51 No significant values
AC-52 309.3 340.5 17.4 4.16 0.74
including 311.3 320.1 4.9 10.37 1.68
AC-53 Abandoned before targeted zone
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 drill core samples (approximately one-metre, half-core composites) are shipped in security-sealed bags via a private trucking company directly to the ALS Peru Laboratories facility in Lima. All samples for the resource drill program are digested using a three-acid digestion and analyzed by two packages. Zinc and lead are determined by atomic absorption and if the results exceed 30 per cent they are reassayed by volumetric methods. All samples are also assayed by ICP for 25 elements (also using the three-acid digestion for complete dissolution).
The company submits its own standards and blanks as a measure of the accuracy of the analysis. All pulps and coarse rejects are being recovered and stored. Prior to a new resource calculation, 10 per cent of all samples used in the resource calculation will be reassayed at a second laboratory using the same analytical techniques described above. Both a reassay of the pulp and of a new pulp prepared from the coarse reject will be used.
Vernon Arseneau, PGeo, exploration manager, Peru, for Zincore is supervising the exploration program and is the qualified person as defined under National Instrument 43-101 for this news release.
We seek Safe Harbor.
So BWR wts, LTH, ZNC and SWN continuew to be my favorite zinc plays.
ZNC, has always looked good to me, but reading our thread there seems to be some administraiton concerns. Is that correct? What is that about.
TAM, I knew about, but just plain missed. |
