ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

ZIM

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:ZIM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Zinco Mining Corporation Commences Major Drilling Program on its Jalisco Polymetallic VMS Project in Mexico

28/05/2008 7:29pm

Marketwired Canada


Zinco Mining Corporation ("Zinco") (TSX VENTURE:ZIM) is pleased to announce that
it has commenced a major drilling project on its 100% owned Cuale polymetallic
volcanogenic massive sulphide property, one of six separate massive sulphide
camps that occur within its Jalisco VMS project area, which is located in the
Jalisco State of south western Mexico approximately 50 to 75 kilometres east of
Puerto Vallarta. The other five massive sulphide mining camps in the Jalisco VMS
project area are Desmoronado, Aranjuez, Bramador, La Mina and El Rubi.


The Cuale drill program is budgeted at US$700,000 and is planned to total 5000
to 6000 metres of reverse circulation drilling in approximately 40 drill holes.
Layne de Mexico, S.A. de C.V. has been contracted for the drilling which will be
the first drilling program conducted on the Jalisco VMS project area since 1990.


A satisfactory agreement has been signed with the Ejido of Cuale permitting
Zinco access to its lands for the purpose of drilling and an operating permit
allowing the drilling program has also been signed by all of the requisite
Mexican government agencies.


Zinco's contiguous 100% owned Jalisco VMS Project mining concessions total over
52,755 hectares (527 sq km) in area and in the Cuale camp alone it contains at
least six precious metal enriched volcanogenic massive sulphide deposits, five
of which were partially mined as open pits during the 1980's by a subsidiary of
major Mexican mining company Penoles. From north to south the Cuale camp massive
sulphide deposits are called Jesus Maria, Patrocino, Refugio, Naricero, San
Nicolas and San Juan which all occur within an area approximately 3 km by 2 km
in size. Naricero was Penoles' largest mine and it produced approximately
800,000 tonnes of ore from which 266,065 grams of gold, 122,859,408 grams of
silver, 22,303 tonnes of zinc and 470 tonnes of copper were recovered.


The geological setting and age of the six massive sulphide camps in the Jalisco
VMS project area, including the Cuale mining camp, and their numerous precious
metal enriched massive sulphide deposits are similar in many aspects to the
valuable Eskay Creek gold-silver mine and the highly prospective Iskut
River-Stewart area l in north western British Columbia. A similar Mexican
analogy that lies south of Cuale is the Campo Morado district where TSX company
Farallon Resources Ltd. is readying its G-9 deposit for production and
conducting aggressive exploration drilling on several other deposits.


Zinco's Cuale drilling program is designed to test targets it has developed over
the last 2 years through conducting and processing data from over 1800 line km
of regional airborne EM and Mag geophysical surveys as well as a major soil
sampling program combined with geological mapping and rock chip sampling of
mineralized outcrops. Zinco has also digitized the drill log and assay data from
hundreds of drill holes previously drilled by Penoles.


The most significant result of the soil sampling is the discovery of a
continuous 3 km long lead in soil anomaly, which is also strongly anomalous in
zinc and silver that extends from the Refugio deposit in the north, through the
Naricero deposit and southwards over the San Juan deposit.


The specific targets planned to be drilled during this campaign are shown on the
attached map and are described below.


Jesus Maria and Patrocino

Some of the highest precious metal results from Zinco's soil survey have been
from the area around the Jesus Maria-Patrocino deposits. The Patrocino deposit
lies 400 metres south of Jesus Maria and has never been mined. Penoles developed
the Jesus Maria deposit in the 1980's as an open pit and mined approximately
43,000 tonnes of ore grading 0.34 g gold/t, 182g silver/t, 1.47% lead, 3.35%
zinc. Zinco collected a chip sample above the pit that assayed 1.02 g gold/t and
131 g silver/t across 10 metres. Soil samples taken by Zinco along the
mineralized horizon outline a continuous polymetallic geochemical anomaly 600
metres long by 150 metres wide containing values as high as 3000 ppb gold and
100 ppm silver.


Four previous holes drilled by Penoles successfully intersected the mineralized
horizon within 30 to 50 metres of the surface south of the pit in the direction
towards Patrocino.


Up to 24 drill holes in two fences are planned by Zinco to test the Jesus
Maria-Patrocino targets.


San Juan

The San Juan deposit was mined on a small scale at some time in the past and the
workings consist of several short adits and open cuts along a northerly trending
zone about 350 m long. Penoles drilled six holes in the vicinity of the San Juan
deposit with their best assay results being 108 g silver/t and 4.87% lead over a
core length of 26 m and 33 g silver/t, 0.64% lead and 1.4% zinc over a core
length of 51.35 m. The deposit lies along the large lead in soil polymetallic
anomaly and all of 16 rock chip and grab samples collected by Zinco along a 600m
strike length of the anomalous zone assayed over 20 ppm silver with the best
chip sample result assaying 274 g silver/t across 5 m.


Zinco has designed a 7 to 10 drill hole program to test the San Juan target.

Naricero

Penoles mined approximately 800,000 tonnes from the Naricero deposit in an open
pit about 200m long, 125 m wide and 50 m deep and remnants of the ore zone are
exposed at the base of the pit wall. Zinco has collected 25 chip and grab
samples from several locations along the 180 m of the ore zone at the base of
the pit which returned average assay results of 280 g silver/t, 0.33 g gold/t,
3.7% lead and 7.0% zinc. A continuous chip sample assayed 80 g silver/t, 0.5 g
gold/t, 0.5% lead and 1.4% zinc across 19 m and it is possible that previous
workers underestimated the value of disseminated mineralization exposed in the
pit wall.


Zinco plans to drill 8 holes to explore for extensions to the Naricero ore zone
both down dip and along strike from the mined out portion of the Naricero
orebody.


San Nicolas

The San Nicolas deposit is located about 400 m south west of Naricero and
consists of two adits and several open cuts. In the 1980's Penoles mined
approximately 80,000 tonnes of ore grading 0.19 g gold/t, 121 g silver/t, 1.57%
lead, 3.18% zinc and .14% copper. Massive sulphide mineralization is exposed in
the bottom of the pit where Zinco collected a continuous chip sample that
assayed 310 g silver/t, 2.5% lead, 3.8% zinc and 0.3% copper across 14.5 m. The
high grade potential of the San Nicolas ore is demonstrated by a 2 tonne float
boulder discovered in the creek below the pit which assayed 0.32g gold/t, 194 g
silver/t, 1.5% lead, 47.7% zinc and 1.1% copper.


Zinco plans to drill 5 holes to explore the down dip potential of the San
Nicolas ore zone.


Minera Camargo S.A. de C.V. has been contracted as operator to manage the drill
program and will employ an on- site analytical laboratory consisting of a Niton
X-ray analyzer, field portable work station with 3-D drill hole management
software (MapINFO with Discover 3-D) and a Meiji microscope with camera for
visual confirmation of X-ray results. All samples selected for further
analytical work will be sent to ACME labs in Vancouver, B.C.


Michelle Robinson MASc., P.Eng., a director of Zinco, is the Qualified person as
defined by NI 43-101 and responsible for the preparation of technical
information in this news release.


Further detailed information about the Jalisco VMS project and the Cuale camp
can be reviewed on Zinco's website www.zincomining.com.


ON BEHALF OF THE BOARD,

Christopher Graf, P.Eng., President & C.E.O.

To view the map accompanying this release please click on the following link:
http://media3.marketwire.com/docs/0528zin.jpg


1 Year Zinco Mining Corporation Chart

1 Year Zinco Mining Corporation Chart

1 Month Zinco Mining Corporation Chart

1 Month Zinco Mining Corporation Chart