Zinccorp awaiting Michelle assays

2010-09-28 09:18 ET - News Release

Mr. Richard Hughes reports

ZINCCORP RESOURCES COMPLETES 2010 EXPLORATION PROGRAM AT MICHELLE PROJECT

Zinccorp Resources Inc. has completed a 2010 diamond drill program at the Michelle project in north-central Yukon Territory. The focus of the 2010 drill program was to drill untested targets within two of the 15 mineralized zones. Ten holes totalling 1,034 metres were drilled at the Blender and Nanny zones. Assays are awaited.

Fifteen mineralized zones were discovered within an area roughly 12 kilometres by seven kilometres prior to 2010. One of the highlights of the 2010 exploration program was the prospecting discovery of a 16th zone, the Silver Matt, located five kilometres west of the previous westernmost zone and just 13.5 kilometres from the Dempster Highway along the proposed access corridor. The average of four assays from galena-rich material at Silver Matt is 3,727.5 grams per tonne silver (108.7 ounce per ton) and 81.92 per cent lead. The galena is hosted within a typical iron-rich oxide zone, with lower silver and lead but higher zinc values, gallium up to 83 parts per million and indium up to 16 parts per million. This discovery was made on the last day of the exploration program and will form an important focal point for 2011 exploration.

In addition to the drill program the 2010 exploration program featured prospecting, geological mapping and gravity geophysical surveys. Kluane Drilling of Whitehorse was the drilling contractor and Fireweed Helicopters provided air transportation. Aurora Geosciences conducted a gravity geophysical survey and provided camp facilities. The camp is located near the Dempster Highway, at a site rented from the Trondek Hwechin First Nation.

"The Michelle property has numerous high-grade targets that have not been drill tested. The Peak and Gully zones, which have been previously tested, are still open to expansion. We expect to be able to expand and define these zones through systematic exploration programs in the future," comments company president, Richard Hughes.

The first drill holes of the 2010 program tested the Blender zone, at a point 500 metres east of the Peak zone. The Blender does not outcrop, but has returned some very high assay results from boulders and some highly anomalous soil geochemical anomalies. Three boulder samples at Blender averaged 27.7 per cent zinc, 22.8 per cent lead, 986 grams per tonne silver and 533 parts per million gallium. This zone is located at lower elevation and close to a water source for drilling. Other drill holes were at the Nanny zone, which lies about 2.5 kilometres due west of the Peak zone, on the same trend. Although assays results have not been received, visual examination of drill core revealed only moderately mineralized structures at both zones.

Exploration at the Michelle property has revealed zinc, lead, silver and gallium mineralization in dominantly carbonate and oxide form (with minor lead sulphide) over an area measuring roughly 17 kilometres by seven kilometres. Mineralization is hosted by upper Cambrian to lower Devonian carbonate rocks of the Bouvette formation. Fifteen zones were discovered by the end of the 2009 work, and 2010 prospecting generated one significant new discovery and several minor zones. The mineralized zones are also variably enriched in gallium, indium and germanium, and 15 zinc-rich samples collected in 2009 averaged 221.7 grams per tonne Gallium (maximum value 1170 grams per tonne), 7.4 grams per tonne indium (maximum value 24.1 grams per tonne) and 6.4 grams per tonne germanium (maximum value 60.3 grams per tonne). Germanium and indium will be systematically analyzed in all samples this year for the first time.

The 2010 program totalled 1,034 metres of drilling and tested two zones not previously drill tested. The gravity geophysical survey is an initial orientation to evaluate this method, which may help focus exploration toward large, high-grade bodies. Further prospecting was conducted as the limits to the mineralized system have not been determined and prospecting has been very successful in previous seasons. Geological mapping at both property and target scales will help Zinccorp to focus its efforts.

Zinccorp owns 100 per cent of the Michelle property.

The qualified person for the purpose of National Instrument 43-101 is William Mann, PGeo, who has read and agreed with the technical information in this news release.

We seek Safe Harbor.