Zinccorp Resources Acquires Land Package Intersected by Destor-Porcupine Fault Zone
September 15 2009 - 3:09PM
Marketwired
Zinccorp Resources Inc (TSX VENTURE: ZN) ('Zinccorp') is pleased to
announce, subject to regulatory approval, the acquisition of a 100%
interest in the Crest Lake property, located in Keefer Township.
This property continues to build Zinccorp's gold presence in the
West Timmins camp.
The Crest Lake property consists of two claims (21 units)
located in the Keefer Township of Porcupine Mining Division. The
property is accessible by road and is approximately 35 km southwest
of Timmins. The property is approximately 20 km southwest of West
Timmins Mining/Lake Shore Gold recent discovery of 12.75 g/T gold
over 83.4 meters. (See West Timmins Mining news release dated June
24, 2009 http://westtimminsmining.com/main/?newsReleases&207
)
To view a map of Zinccorp's newly acquired properties in the
Timmins region is now available on the Company's website:
www.zinc-corp.com
"We are strategically expanding our presence in the West Timmins
gold district and are pleased to announce another quality property
has been added to the Company's already diverse portfolio,"
comments Company President, Richard Hughes. "Zinccorp will continue
to increase its exposure in the area as major exploration programs
being carried out by numerous companies in proximity continue to
test the potential of this historic gold camp. West Timmins Mining
and Lake Shore Gold's recent success only speaks to the camp's
potential, especially at depth. The Destor-Porcupine Fault Zone is
a major structure dividing the West Timmins region and our focus
has been and will continue to be acquisition and advancement of
projects in the immediate area."
The Crest Lake Property has seen limited exploration work in the
past. The most recent company to review the property was Blackwater
Resources in 1996, which included line cutting, mag and an IP
survey but no drilling. Data from previous work is currently being
reviewed by Company and will be used to guide upcoming
exploration.
Consideration for the property consists of $105,000 and an
additional $75,000 in cash or the equivalent value in shares (or a
combination of cash and shares), as well as 400,000 shares, all
payable over four years. (A further 100,000 shares are to be issued
following the completion of a positive feasibility study). There is
a 3% net smelter return payable, one-third (1%) of which may be
purchased for $1,000,000.
The Company is also expecting assays from a summer exploration
program on its 100% owned, Michelle Property, in Yukon territory,
in the near future.
About Zinccorp Resources Inc.
Zinccorp Resources Inc., a member of the Hughes Exploration
Group of companies, is a recently formed, tightly held junior
mineral exploration company. The Company had a zinc/lead/silver
discovery on the Michelle Property, one of its four highly
prospective properties in Yukon, Canada in 2007. Zinccorp Resources
Inc. has now expanded their exploration venture into the prolific
Timmins / Larder Lake mining camp adding a new gold dimension to
their exploration portfolio.
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 news 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.
Contacts: Zinccorp Resources Inc. Kevin Hull or Alan Campbell
Investor Relations (604) 685-2222 info@zinc-corp.com
www.zinc-corp.com
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