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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (34442)	2/28/2007 9:38:43 AM
From: LoneClone	Read Replies (2) \| Respond to of 78424

Zincore Continues to Intersect High-Grade Zinc at Accha Including 39% Zinc Over 11 Meters Wednesday February 28, 8:00 am ET biz.yahoo.com VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Feb 28, 2007 -- Zincore Metals Inc. (Toronto:ZNC.TO - News) ("Zincore" or "The Company") announces further high-grade oxide zinc intersections from its continuing 20,000 metre drill program on the Accha deposit at its 100% owned Accha-Yanque Project in southern Peru. Results from these ten holes continue to demonstrate extensive zones of near surface mineralization at Accha. Highlights of this drilling include: - 11 metres at 39% zinc from 113.20 metres - 33 metres at 12.54% zinc from 209.25 metres and - 34 metres at 9.42% zinc from 86.70 metres. The drilling has focused on resource definition, with all of the ten holes drilled within or peripheral to the historical resource areas. Nine holes intersected open-pit grade zinc mineralization with four holes intersecting wide zones of mineralization grading greater than 9% zinc. Three rigs are now on site and have commenced step-out drilling to test expansion potential to the west, to the south, as well as to the east. ---------------------------------------------------------- Intersection ----------------- Core(i) Hole From To Interval Zinc Lead No. (metres) (metres) (metres) (%) (%) ---------------------------------------------------------- ---------------------------------------------------------- DDH-AC-05 153.80 160.50 6.70 2.62 0.34 ---------------------------------------------------------- ---------------------------------------------------------- DDH-AC-06 86.70 121.05 34.35 9.42 0.72 ---------------------------------------------------------- including 86.70 105.55 18.85 13.46 1.33 ---------------------------------------------------------- ---------------------------------------------------------- DDH-AC-07 No significant intersections ---------------------------------------------------------- ---------------------------------------------------------- DDH-AC-08 57.30 73.60 16.30 10.04 1.39 ---------------------------------------------------------- including 58.30 65.30 7.00 16.40 2.33 ---------------------------------------------------------- ---------------------------------------------------------- 86.10 90.10 4.00 6.47 0.38 ---------------------------------------------------------- ---------------------------------------------------------- End of 96.10 Hole 23.90 2.79 0.14 ---------------------------------------------------------- ---------------------------------------------------------- DDH-AC-09 127.40 132.90 5.50 3.57 4.42 ---------------------------------------------------------- DDH-AC-10 209.25 242.25 33.00 12.54 0.39 ---------------------------------------------------------- including 216.25 237.25 21.00 16.84 0.80 ---------------------------------------------------------- ---------------------------------------------------------- DDH-AC-11 34.80 39.80 5.00 3.81 2.07 ---------------------------------------------------------- ---------------------------------------------------------- 45.80 57.80 12.00 3.01 0.07 ---------------------------------------------------------- ---------------------------------------------------------- DDH-AC-12 2.00 12.00 10.00 5.80 0.69 ---------------------------------------------------------- including 3.00 7.00 4.00 10.78 0.68 ---------------------------------------------------------- ---------------------------------------------------------- DDH-AC-13 96.80 106.80 10.00 6.42 0.20 ---------------------------------------------------------- ---------------------------------------------------------- 113.20 128.20 15.00 29.80 0.10 ---------------------------------------------------------- including 113.20 124.20 11.00 39.08 0.13 ---------------------------------------------------------- ---------------------------------------------------------- 135.70 139.90 4.20 3.21 0.10 ---------------------------------------------------------- ---------------------------------------------------------- 151.00 161.60 10.60 4.63 0.26 ---------------------------------------------------------- ---------------------------------------------------------- DDH-AC-14 130.20 135.20 5.00 4.06 0.37 ---------------------------------------------------------- (i)True Widths are not known at this time. Accha is one deposit within Zincore's 30-kilometer long Accha-Yanque zinc oxide belt in southern Peru. The drill program objectives include improving drill density within the historical mineral resource envelope (to approximately 50- by 50-metre spacing), testing for extensions of the Accha orebody along strike to the west and down-dip to the south, and collection of metallurgical samples. Results from the drill program will enable preparation of a current resource estimate under NI 43-101. Zincore has engaged Watts, Griffis and McOuat Limited, an independent, Toronto-based international geological and mining consulting firm, to advise on the drilling program and complete the resource estimate. The Company has also initiated base line water sampling studies as well as initial socio-economic studies within the area of influence of the Accha project. Other baseline studies will begin over the coming months and the Company is currently in the process of evaluating several contractors to carry out these surveys. Metallurgical test work is in progress under the direction of Green Team Consultants International ("GTI"). Drill hole locations and a map of the Accha deposit may be viewed on the Company's website at zincoremetals.com. Quality Control Zincore has implemented a quality control program to ensure best practice in litho geochemical 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% they are re-assayed 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% of all samples used in the resource calculation will be re-assayed at a second laboratory using the same analytical techniques described above. Both a re-assay of the pulp and of a new pulp prepared from the coarse reject will be used. Vernon Arseneau, P.Geo., 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. About Zincore Zincore's strategy is to become a leading, low-cost zinc producer with the immediate objective of advancing its 100% owned Accha-Yanque property toward a development decision through a disciplined process of exploration, drilling and resource definition, and technical studies. Zincore holds a portfolio of other zinc exploration properties in southern Peru and intends to pursue additional zinc opportunities elsewhere in Latin America and China. About the Accha Deposit The Accha-Yanque property consists of 56 concessions over a 30-kilometre distance in southern Peru. At the north end of the property is the Accha deposit and at the south end is the Yanque deposit. A number of zinc prospects with limited prior exploration occur between these two deposits. A total of 56 holes were completed by Cominco Ltd., Savage Resources Ltd. ("Savage"), and Pasminco Limited ("Pasminco") at the Accha deposit for 13,500 metres. Savage, and later, Pasminco, which acquired Savage, evaluated Accha between 1998 and 2001. Two historical resource estimates under the AUSIMM JORC standards were calculated for the Accha deposit using differing assumptions. In 1999, Kvaerner Metals ("Kvaerner"), under engagement to Savage calculated an indicated mineral resource of approximately 7.0 million tonnes grading 8.9% zinc and an inferred mineral resource of 1.8 million tonnes grading 8.9% zinc. In 2000, Pasminco calculated an indicated mineral resource of approximately 3.8 million tonnes grading 8.9% zinc and 1.0% lead and an inferred mineral resource of 2.0 million tonnes grading 11.4% zinc and 1.9% lead under more conservative assumptions. Cautionary Note Regarding Mineral Resource Estimates The qualified person for the Accha-Yanque technical report is L.D.S. Winter, P.Geo., an independent consulting geologist as defined under NI 43-101. Historical mineral resource estimates have not been reconciled to the mineral resource categories of NI 43-101 and sufficient work has not been done to classify these estimates as current mineral resources. For details on the Accha historical mineral resource estimates and the Yanque current mineral resource estimate, see Zincore's prospectus relating to its IPO dated October 26, 2006, which was filed with Canadian securities regulatory authorities and is available on SEDAR (www.sedar.com). Forward-looking Statements Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the prospectus of Zincore relating to its IPO 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. Zincore does not assume the obligation to update any forward-looking statements. Contact: Contacts: Zincore Metals Inc. Meghan Brown Manager Investor Relations (604) 669-6611 Zincore Metals Inc. Greg Martin Vice President and CFO (604) 669-6611 Email: investorrelations@zincoremetals.com Website: zincoremetals.com Source: Zincore Metals Inc.