Zinccorp Resources Inc.: Phase Two Drilling Scheduled to Begin on Recent Silver-Lead-Zinc Discovery Intersecting 40% Pb-Zn & 510
July 23 2008 - 8:21AM
Marketwired
VANCOUVER, BRITISH COLUMBIA is pleased to announce a 2500 meter
Phase Two diamond drill program at its wholly owned Michelle
property located 25 km east of the Dempster Highway in central
Yukon. Drilling is scheduled to begin at month end, July 2008.
Phase One drilling of the Gully Zone returned a drill interval
that averaged more than 40 per cent combined lead-zinc with 510.7
g/t (14.9 ounces/ton) silver over a 7.94 m (26 ft) true
thickness.
The work crew is presently building drill pads on the Michelle
property in preparation for the Phase Two drilling program. This
phase 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.
The Company is financing this phase of exploration using funds
on hand and proceeds from the current 6 million unit private
placement offering. The work program is already permitted and
pending continued favourable results, an application will be made
this coming winter to build a road to the property.
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 discovery was made by diamond drilling 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 limestone and
dolomite that are cut by large faults of uncertain age.
The 2007 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.
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.
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 which commenced trading on the TSX Venture
Exchange in July of 2008. The company is focused on the discovery
of large zinc-rich deposits, recently acquiring 100% interest in
four highly prospective properties from Strategic Metals Ltd., 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.
Contacts: Hughes Exploration Group Alan Campbell Investor
Relations (604) 685-2222 (604) 685-3764 (FAX) Hughes Exploration
Group Kevin Hull Investor Relations (604) 685-2222 (604) 685-3764
(FAX) Website: www.zinc-corp.com
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