Zincore Metals Inc. (TSX: T.ZNC, Stock Forum) said assay results from holes DOL-14, DOL-15, DOL-16 and DOL-17, the final holes of the first drill program under a joint venture with FirstQuantumMinerals Ltd. (TSX: T.FM, Stock Forum) confirm the existence of a very large porphyry system on the Dolores project in Peru.
Zincore's 100%-owned Dolores copper-molybdenum porphyry property located on the company's Accha zinc oxide district in the Yauri-Andahuaylas copper belt in southern Peru.
According to the Zincore Metals press release, highlights from the final results include 72.35 metres grading 0.26% copper equivalent, including 21.3 metres grading 0.44% copper equivalent in hole DOL-17 and 298.6 metres grading 0.16% copper equivalent, including 20.0 metres grading 0.40% copper equivalent in hole DOL-15.
“These results confirm the existence of a very large porphyry system at Dolores encompassing at least 3.5 kilometres north to south and 1.5 kilometres east to west,” said Jorge Benavides, Zincore CEO and President. “It is our intention to focus our future exploration efforts in finding a higher grade mineralized body within the large Dolores system."
The next phase of work at Dolores will begin after the end of the rainy season in May.
Zincore is a mineral exploration company focused mainly on zinc and related base metal opportunities in Peru.
On Thursday, Zincore was trading at $0.08 a share. The company had a market cap of $16.8 million, based on 210.4 million shares outstanding. The 52-week high and low was $0.24 and $0.075 respectively.