Zinccorp Announces a Major Zinc-Lead-Silver Discovery
July 09 2008 - 1:07PM
Marketwired
VANCOUVER, BC is pleased to announce a very promising discovery
at its wholly owned Michelle property, located 25 km east of the
Dempster Highway in central Yukon.
The highlight result from this discovery is a drill interval
that averaged more than 40% combined lead-zinc with 510.7 g/t (14.9
ounces/ton) silver over a 7.94 m (26 ft) true thickness.
The discovery was made by diamond drilling done in 2007, results
of which were just received. It consists of fracture- and
breccia-hosted, carbonate replacement style mineralization. Zinc,
lead and silver are the main metals of interest. The host
stratigraphy consists of Cambrian to Devonian age limestones and
dolomites that are cut by large faults of uncertain age.
Reconnaissance-scale soil geochemistry and prospecting have
identified three main areas of mineralization, two of which are in
the western part of the property and one of which is in the eastern
part. None of the main targets are fully delineated, but they
appear to have both structural and stratigraphic controls. The
mineralized zones weather recessively, often forming gullies that
are mostly filled with unmineralized talus. The zones are marked by
very strong soil geochemical anomalies (i.e. 1000 ppm to 6.26%
lead). These anomalies range from 500 to 700 m in length and are
open to expansion along strike in both directions. In addition to
the main targets, there are a number of secondary targets with good
exploration potential.
The diamond drilling was confined to the main target area in the
eastern part of the property (Gully Showing). The program consisted
of seven holes designed to identify the source of limonitic float
boulders found on a steep talus slope. Outcrop is very rare in the
area. The first three holes (MCH-07-01 to 03) were aligned
subparallel to the dip of the zone and intersected only sparsely
mineralized footwall rocks. The next two holes (MCH-07-04 and 05)
were also drilled subparallel to the zone and mostly cut weakly
fractured and mineralized hanging wall rocks. The last two holes
(MCH-07-06 and 07) were drilled directly across the zone and
encountered heavily fractured and brecciated rocks that are well
mineralized with limonite, smithsonite, cerrusite and galena. The
most significant assay intervals are tabulated below.
Hole From To Metres Silver g/t Lead % Zinc %
MCH-07-04 93.57 95.75 2.18 1.1 0.23 10.15
MCH-07-06 35.66 53.95 18.29 309.5 8.87 16.76
including 45.22 53.16 7.94 510.7 17.38 22.72
MCH-07-07 47.85 57.00 9.15 2.1 0.10 12.62
including 49.10 53.95 4.85 2.7 0.17 21.92
The intersected interval in MCH-07-06 is nearly true width. The
true widths for intercepts in the other two holes are about 75% of
the reported interval lengths. Soil geochemical values in the
vicinity of the drill discovery are comparable to, but more
localized than, the values marking the highly prospective targets
in the western part of the property (Peak and Dynasty showings).
Neither of these targets was drilled in 2007 because results were
not available until after the crew and drill had left the
property.
The Michelle property lies in a belt of Proterozoic and
Paleozoic age, platformal carbonate rocks that stretch through
northern BC, western NWT, Yukon and Alaska. Carbonate-hosted
mineral deposits within this belt include Pine Point, Gayna River,
Prairie Creek, Blende and Full Metal Minerals' recently announced
discovery at Fortymile.
A crew has just moved back to the Michelle property to begin pad
construction in preparation for renewed diamond drilling. The next
phase of drilling will continue to delineate the Gully Zone along
strike and will begin to explore the Peak, Dynasty and other zones
in the western part of the property.
Zinccorp Resources Inc. plans to start a 2500 m diamond drill
program within two weeks using funds on hand and proceeds from a
proposed $1 million private placement unit offering. The program is
already permitted. Pending continued favourable results, an
application will be made next winter to build a road to the
property. Terrain is gentle and there is only one major stream
crossing on the proposed road route.
The analytical results reported in this news release were done
at ALS Chemex in North Vancouver, B.C. All soil samples and core
samples were analyzed for 34 elements using aqua regia digestion
and inductively coupled plasma-atomic emission spectroscopy
(ME-ICP41). Samples that exceeded 10,000 ppm lead, 10,000 ppm zinc
or 100 g/t silver were re-analyzed using aqua regia digestion with
inductively coupled plasma and either atomic emission spectroscopy
or atomic absorption spectroscopy (Pb, Zn- or Ag-OG46). Samples
that exceeded 30% zinc or 20% lead were determined using wet
chemical assay techniques (Pb-VOL70 and Zn-VOL50). One sample that
exceeded 1500 g/t silver was re-analyzed using fire assay and
gravimetric finish (Ag-GRA21).
The 2007 exploration was conducted by Archer, Cathro &
Associates (1981) Limited, under the supervision of W.A.
Wengzynowski, P.Eng. Mr. Wengzynowski is the qualified person for
this project. He has read this release and has approved its
contents.
The Company also announces that it has granted 1,300,000 share
purchase options to insiders and 1,775,000 share purchase options
to non-insiders, both at an exercise price of $0.15 and expiring in
July 2013.
About Zinccorp Resources Inc.
Zinccorp Resources Inc., a member of the Hughes Exploration
Group of companies, is a newly formed, tightly held junior mineral
exploration company set to commence trading on the TSX Venture
Exchange on July 10, 2008, under the symbol "ZN." The company is
focused on the discovery of large zinc-rich deposits. It recently
acquired 100% interests in four highly prospective properties from
Strategic Metals Ltd. All properties are located in Yukon
Territory, Canada.
Please visit Zinccorp's web-site www.zinc-corp.com to learn more
about the Michelle and other exciting Zinccorp projects and sign up
to receive upcoming Zinccorp news.
The statements made in this Press Release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially
from the Company's expectations and projections.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
Distributed by Filing Services Canada and retransmitted by
Marketwire
For further information contact: Alan Campbell or Kevin Hull
Investor Relations Hughes Exploration Group Phone: (604) 685-2222
ZINCCORP RESOURCES INC. 711-675 West Hastings Street, Vancouver,
B.C. V6B 1N2 Canada Telephone: (604) 685-2222 Facsimile: (604)
685-3764 www.zinc-corp.com
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