Now that Zincore Metals (ZNC-T) has a resource estimate for its Accha deposit in southern Peru, the company’s visions of a future mine are becoming a little more concrete.
Zincore says it hopes to be producing 35,000 to 40,000 tonnes of zinc in concentrate a year via open pit mining.
Mine design for the deposit has already begun by Pincock Allen & Holt, the company that compiled the resource, in the way of a prefeasibility study.
Using a cutoff grade of 2% zinc, the current indicated resource is 5.1 million tonnes grading 8.15% zinc and 0.9% lead, totaling 911 million lbs. of zinc and 97 million lbs. of lead.
Under the inferred category, Accha has a resource of 1.4 million tonnes grading 5.9% zinc and 0.7% lead, or 186 million lbs. of zinc and 21 million lbs. of lead.
The resource was based on 62 diamond drill holes drilled by Zincore, 60 historical drill holes and 7 trenches.
The deposit has a 750-metre strike with mineralization extending from surface to 450 metres depth and is hosted in laminated limestone.
Right now, Zincore is working on additional surface exploration and mapping of the Accha area to find targets for the next phase of infill and exploration drilling, which will start by mid 2008.
The Accha deposit is 30 km north of Zincore’s Yanque deposit, where the company is also exploring. Yanque has an inferred resource of 6.6 million tonnes grading 5.3% zinc and 3.5% lead.
Recently, Zincore began exploring 40 concessions between Yanque and Accha. Zinc and lead oxide showings will be included in next year’s drill program based on current testing.
Zincore shares fell 2, or nearly 5% today, to 40 each on a trading volume of 123,000 shares.
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