Zinco Mining Corporation (TSX VENTURE:ZIM) (FRANKFURT:61Z) has
acquired 100% of mining concessions San Antonio Fraccion II (T.
219743) and San Antonio 2 Fracc 1 (T. 219744) from Antonio Briseno
Guerra for $100,000 (U.S.) and 250,000 common shares of the
Company. Together, these newly acquired concessions overlap an area
of 68.6 hectares centred on Cerro La Descubriadora, a prominent
mountain that defines the eastern part of the Cuale VMS mining
camp. They are located internal to Zinco's "La Diana" concession,
which contains both the silver-rich San Juan deposit 1.4 kilometres
southwest of the San Antonio concessions, and most of San Rafael, a
historic gold and silver mine partially overlapped by both La Diana
to the south and the San Antonio 2 Fracc. 1 concession to the
north.
The San Antonio concessions are important to Zinco's ongoing
exploration program in the area because they contain several
historic gold mines ("Minas de Oro") that could represent the
centre of the mineralizing system at Cuale. The Minas de Oro on
these concessions include Grandeza, Las Talpas, Caldero, El Rosario
and Cataminas, as well as the northern part of San Rafael. Zinco
believes that there is additional metal potential along strike and
down-dip of these historic mines and workings.
Grandeza mine was the largest of the Minas de Oro with historic
production of 756 661 tonnes of ore grading 1.89 g/t Au, 22 g/t Ag,
1.41% Pb, 2.35% Zn and 0.2% Cu. Grandeza was mined from underground
by Industrias Penoles in the mid-1980's. Collectively, there are
about 2850 metres of underground workings on six different levels
between 2010 metres elevation and 2090 metres elevation at
Grandeza, all within a 110 metre long by 70 metre wide area 1.4
kilometres southeast of the Company's Patrocinio Camp.
Las Talpas, also an underground mine, is accessed from a portal
200 metres southeast of Grandeza. The Company has mapped seven
levels of workings between 1920 and 2020 metres elevation. The
mapping shows that collectively, there are more than 3000 metres of
underground development at Talpas, all in an area about 200 metres
long by 140 metres wide. In the mine, there are several production
stopes that are still full of partially broken ore. Zinco has taken
a few rock chip-channel samples with results as follows:
-- Level 2020 (stockwork) sample 26285: 0.5% Zn, 0.1% Pb, 0.4% Cu, 11 g/t
Ag, 0.33 g/t Au across 3 m
-- Level 1990 (stope pillar) sample 25831: 34.7% Zn, 26% Pb, 0.4% Cu, 60
g/t Ag, 1.26 g/t Au across 1 m
-- Level 1980 (stope pillar) sample 29954: 3.8% Zn, 2.2% Pb, 0.3% Cu, 25
g/t Ag, 0.23 g/t Au across 10 m
-- Level 1940 (stope pillar) sample 25832: 12.6% Zn, 1.7% Pb, 0.6% Cu, 29
g/t Ag, 0.67 g/t Au across 2 m
The mineralization at Talpas consists of coarsely crystalline
dark sphalerite and galena with pyrite, chalcopyrite and minor
bornite in markedly silicified, fine-grained, thinly laminated,
cherty sedimentary rocks that occur below a thick pile of
quartz-porphyritic rhyolite flows. Stratigraphically, this is the
same position as Jesus Maria on the western side of Cerro
Descubriadora. Bedding appears to be the primary control on
mineralization, and most measurements, both from surface and
underground, imply that the geological formations strike
southeasterly and dip moderately southwest in this area.
Southwesterly trending, northwesterly dipping faults might be
important syn-mineral feeder structures to the mineralization that
could localize higher grade material. Reported past production from
Las Talpas was 141,425 tonnes of 1.91% Zn, 0.65% Pb, 0.16% Cu, 24
g/t Ag and 0.3 g/t Au. The reported tonnage is small compared to
the size of the underground stopes.
Caldero occurs 140 metres southwest of the Talpas Portal at 2078
m elevation. From underground, the mineralization is accessed from
the 1990 metre level of Talpas mine. The tunnel goes 70 metres to
the southwest, then follows the Caldero Horizon for 100 metres to
the southeast. There are 4 draw points for ore along this tunnel. A
sample cut across the very end of the stope contains 16.5% Zn, 7.7%
Pb, 0.35% Cu, 42.5 g/t Ag and 1.6 g/t Au across 1.45 m (sample
25828).
El Rosario is 325 metres south of the Talpas portal, and rock
dumps outside the mine adits occur at 1980 m elevation and 1920 m
elevation. Samples of the rock dumps, collected by the Company
prospector, contain metal values as follows:
-- Rosario Upper (25820): 32.3% Zn, 8.6% Pb, 0.2% Cu, 361 g/t Ag and 0.42
g/t Au
-- Rosario Lower (25822): 23.5% Zn, 15.4% Pb, 0.4% Cu, 465 g/t Ag and 0.66
g/t Au
-- Rosario Lower (25821): 45.2% Zn, 3.6% Pb, 0.1% Cu, 209 g/t Ag and 0.21
g/t Au
No geological inspections of the Rosario mines have yet been
done by the Company. The silver grades are high compared to samples
from Talpas, and this area represents a new priority for Zinco.
Geologically, the reason for the elevated gold content in the
Minas del Oro relative to other mines in the Cuale District might
be because they are proximal to a syn-mineral intrusion. Based on
the 3-D inversion of airborne magnetic data collected by Fugro
Airborne in 2006, and interpreted by Trent Pezzot of SJ Geophysics
in late 2007, it appears that Cerro La Descubriadora is cored by an
area of relatively high magnetic susceptibility that might indicate
the presence of an intrusive body. Such an intrusion might
represent the "heat pump" responsible for circulating mineralizing
fluids in the Cuale VMS District. Spatially, the gold and
copper-rich deposits of Cerro La Descubriadora occur close to
near-surface "apophyses" of magnetic susceptibility that might
define such an intrusion.
Qualified Person
This press Release was reviewed by Michelle Robinson, M.A.Sc.,
P.Eng., a Director of Zinco Mining Corporation, who acts as Zinco's
Qualifed Person as defined by NI 43-101. Geochemical assaying
reported in this News Release was completed by Acme Analytical
Laboratories according to the procedures described in Zinco's News
Release (NR 2011.05) dated 17 August 2011.
Further information about the Jalisco VMS Project can be
reviewed on Zinco's website www.zincomining.com
ON BEHALF OF THE BOARD,
David Elgee, PRESIDENT
Certain information regarding the Company including management's
assessment of future plans and operations, may constitute
forward-looking statements under applicable securities laws and
necessarily involve risks associated with mining exploration and
development, volatility of prices, currency fluctuations,
imprecision of resource estimates, environmental and permitting
risks, access to labour and services, competition from other
companies and ability to access sufficient capital. As a
consequence, actual results may differ materially from those
anticipated in the forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS NEWS RELEASE.
Contacts: Zinco Mining Corporation David Elgee President (604)
507-2181 (604) 507-2187 (FAX)www.zincomining.com
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