Zincore Metals Inc.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 1020 - 625 Howe Street Vancouver, B.C. Canada V6C 2T6 |
| Tel No.: | (604) 669-6611 |
| Fax No.: | (604) 669-6616 |
| Web Site: | www.zincoremetals.com |
| Corporate Email: | mbrown@zincoremetals.com |
| Contact Person: | Meghan Brown |
| Position: | Manager, Investor Relations |
| Traded Market: | TSX |
| Traded Symbol: | ZNC |
| Outstanding Shares: | 79.1 Million |
| Public Float: | 36.8 Million |
| 52 Week High: | $ 0.75 |
| 52 Week Low: | $ 0.29 |
| Present Price: | Click Here |
INTRODUCTION
Zincore Metals Inc. was founded in September 2005 as a wholly owned subsidiary of Southwestern Resources Corp., the Vancouver-based diversified mineral exploration company, to hold its zinc property interests. Zincore went public in
November 2006 with an initial public offering and trades on the Toronto Stock Exchange under the symbol ZNC.
Zincore's strategy is to become a leading low-cost zinc metal producer. Their initial objective is to advance the Accha-Yanque exploration property in Peru to a pre-feasibility study through a disciplined process of exploration, resource definition and drilling, and technical studies. The initial National Instrument 43-101 compliant Accha deposit mineral resource estimate was completed, and the Yanque deposit has an inferred resource estimate that is compliant with National Instrument 43-10, and both deposits remain prospective for expansion through exploration and drilling. A number of other zinc mineral occurrences have been identified on the Accha-Yanque property and, along with the Minasccasa, Sayani and Cerro Condorini properties, provide immediate exploration opportunities.
PROJECT IN HAND
(1) Accha-Yanque Property, Peru
Zincore's 100%-owned Accha-Yanque property covers over 30,000 hectares and consists of 41 concessions over a 30 km
distance in southern Peru. At the north end of the property is the Accha deposit and at the south is the Yanque deposit. A number of zinc prospects with limited exploration occur between these two deposits.
Accha Deposit
In November 2006 Zincore launched a 20,000 metre HQ diamond drill program at Accha to improve drill density within the historical mineral resource envelope (to approximately 50- by 50-metre spacing), test for extension of the Accha orebody along strike to the west and down-dip to the south, and collect metallurgical samples. Three rigs are now on site. Results from the drill program will enable preparation of a current resource estimate under NI 43-101.
On December 6, 2007, Zincore reported the results of an independent mineral resource estimates completed on the Accha deposit. At 2.0% zinc cut-off, indicated mineral resources total 5.1 million tonnes grading 8.15% zinc and 0.9% lead. In addition, inferred mineral resources total 1.4 million tonnes grading 5.9% zinc and 0.7% lead. This mineral resource estimate validates Accha as a significant high-grade, near-surface zinc deposit, targeting production rates of 35,000 to 40,000 tonnes of zinc in concentrate annually.
This initial NI 43-101 compliant Accha mineral resource estimate was completed by Pincock Allen & Holt ("PAH") based on the results of 62 diamond holes drilled by Zincore, 60 historical drill holes and 7 trenches. The deposit has been traced for 750 metres along strike and remains open at depth in certain areas and to the west. With completion of this initial mineral resource estimate, PAH has commenced mine design for the pre-feasibility studies.
Zincore is currently conducting additional surface exploration work and mapping of the Accha deposit area in advance of determining the next phase of infill and exploration drilling that is anticipated to commence in early- to mid-2008.
Yanque Deposit
The Yanque deposit is approximately 30 km southwest of the Accha deposit. At the Yanque deposit, Zincore has signed an agreement with local communities that grants Zincore access to the property to conduct exploration work on the deposit. The Yanque deposit has a NI 43-101 compliant inferred mineral resource of 6.6 million tonnes at an average grade of 5.3% zinc and 3.5% lead. Crews from the local community have already commenced upgrading the access road to the project site.
Field work of the Yanque deposit consists of mapping, trenching and water sampling.
Zincore confirmed that the expanded drill permit covering the Yanque deposit has now been received. Magnetic and IP geophysical surveys are being completed over the deposit to assist with planning drill hole locations in advance of the program resuming. Approximately 8,000 metres of drilling is planned at Yanque in 2008.
(2) Minasccasa Property, Peru
The Minasccasa property is located in the Andahuaylas - Yauri metallogenic belt in southern Peru, 400 km southeast of Lima. Road access from Lima is through Ayacucho, a distance of 575 km and a travel time of eight hours. Minasccasa is comprised of three exploration concessions totalling 2,500 hectares and is 100% owned by Collasuyo, Zincore's wholly owned Peruvian subsidiary.
A program of regional stream sediment and outcrop sampling and geological mapping conducted in 2000-2001 by the Bambas West Joint Venture (Southwestern - Inco Limited), resulted in the discovery of a mineralized zinc-copper skarn system at Minasccasa.
Mapping and sampling to date has shown that the skarn system is very extensive, with garnet skarn hosting zinc-copper mineralization over a strike length of 1,200 metres and a vertical extent of 600 metres. Numerous mine workings, mostly caved and flooded, were worked at a small scale on high-grade zones of mineralization in two areas. Mineralization is widespread and in places is significantly leached and oxidized at surface, with scattered exposure of higher-grade material (in excess of 9% zinc). Further evaluation with trenching, geophysics and diamond drilling is warranted.
(3) Sayani Property, Peru
The Sayani property is located approximately 25 km southeast of Minasccasa and 380 km northwest of Arequipa. Access to the property is by gravel road and horseback. Sayani is comprised of two exploration concessions totalling 2,000 hectares and is 100% owned by Collasuyo.
The property is underlain by rocks of the Pucara Group of Triassic-Jurassic age which is a significant host to lead-zinc deposits in southern Peru. Several areas containing oxide lead-zinc mineralization have been identified on the property and limited sampling has shown that these areas contain high values of zinc, lead and silver over widths of two metres to three metres. Two channel samples collected at right angles to the strike of the areas assayed 13.7% zinc, 2.37% lead and 15.5 g/t silver over 3.6 metres and 12.0% zinc, 7.4% lead and 42.3 g/t silver over 2 metres. A program of detailed geological mapping and sampling is recommended to evaluate the potential of this area.
(4) Cerro Condorini Property, Peru
In February 2007 Zincore signed a definitive agreement with Brett Resources Inc. under which Zincore is earning up to an 80% interest in Brett's Cerro Condorini property in southern Peru. The agreement fits Zincore's strategy of gaining high potential zinc opportunities in Peru. The evidence of mining activities on the property combined with promising surface exploration results are encouraging. Zincore's exploration team is pursuing these targets to rapidly determine their potential.
The Condorini properties host several historic mining areas. Early stage exploration work by Brett and Zincore identified numerous areas with widespread zinc oxide mineralization within the 3,600-hectare property. Surface exposures within these areas are limited, with selective sampling returning high-grade zinc, including 9.0 metres at 9.3% zinc and 4.2% lead, 6.0 metres at 4.5% zinc and 2.4% lead and 2.4 metres of 13.4% zinc. Several other prospects were identified containing high-grade silver (100 to 600 grams per tonne) associated with copper and lead in historic workings.
Initial work will include mapping and trenching to define the geometry and tenor of identified mineralized zones, further general reconnaissance exploration to identify additional mineralized areas and a drilling program to test priority targets. Zincore will manage the exploration program.
MANAGEMENT
Zincore Metals Inc. has a professional management team with experience in different areas.
Timo Jauristo, President, Chief Executive Officer and Director
Mr. Jauristo jointed Southwestern Resources Corp. in July 2005 as Vice President of Corporate Development, and was instrumental in the formation of Zincore. Mr. Jauristo became President and CEO of Zincore in December 2005. Mr. Jauristo, a geologist, has more than 26 years experience in the mining industry, most recently as General Manager of Corporate Development for Placer Dome Inc., a gold mining company. He joined Placer Dome in 1990 and held various positions including Senior Project Geologist, Executive Assistant to Vice President of Exploration, Country Manager for Spain, Regional Manager for Southeast Asia, Exploration Manager for Australia, and Manager of Business Development.
Greg Martin, Vice President and Chief Financial Officer
Mr. Martin joined Southwestern in May 2006 and was appointed Chief Financial Officer of Zincore in July 2006. Prior to joining Southwestern, Mr. Martin spent 10 years with Placer Dome in a variety of finance and business development roles, including Manager of Corporate Finance and Insurance, General Manager, Business Development, and most recently, Director of Investor Relations.
Greg McCunn, Vice-President, Project Development
Mr. McCunn joined Zincore in 2007 from Hunter Dickinson Inc. where he was Senior Project Engineer providing project management, engineering and corporate development services to a group of nine publicly traded companies. Prior to Hunter Dickinson, Mr. McCunn worked for Placer Dome and Teck Cominco in both corporate and operating functions. In addition to his 15 years in the mining industry, Mr. McCunn holds a Bachelor of Applied Science in Metals and Materials Engineering from the University of British Columbia and a Master in Business Administration from Simon Fraser University.
Vernon Arseneau, Manager, Peru Exploration
Mr. Arseneau jointed Collasuyo, Zincore's wholly owned Peruvian subsidiary in June 2006. He has 30 years of exploration and project management experience of which the last 10 years have been in South America, principally in Peru, Chile and Argentina. Mr. Arseneau consulted on various exploration projects over the last three years and prior to that he was general manager of Noranda Inc.'s country office in Peru and was responsible for the reactivation of the El Pachon project in Argentina.
The Zincore Metals Inc. Board of Directors include:
David Black, Chairman
Rex McLennan
Myron Osatenko
Henry Giegrich
Timo Jauristo
NEWS UPDATE
On January 21, 2008, Zincore Metals Inc. announced that the regional exploration program on the Accha-Yanque zinc belt has identified a new zone of high-grade mineralization approximately 5 km east of Yanque. A continuous 16-metre channel sample across the zone returned grades of 9.7% zinc, 8.4% lead and 41 g/t silver.
Zincore also confirmed that the expanded drill permit covering the Yanque deposit has now been received. Magnetic and IP geophysical surveys are being completed over the deposit to assist with planning drill hole locations in advance of the program resuming. Approximately 8,000 metres of drilling is planned at Yanque in 2008.