Zincore Metals Announces End of Regional Copper Exploration Partnership With First Quantum

Zincore Metals (TSX:ZNC) reported that First Quantum Minerals (TSX:FM) has terminated the memorandum of understanding between the two companies for the Regional Copper Exploration Program on Zincore’s Accha Zinc Oxide District land package. The Dolores project, also within the land package, is being explored through a separate joint venture agreement between Zincore and First Quantum.

As quoted in the press release:

Zincore and First Quantum originally announced the MOU for Regional Copper Exploration on Zincore’s 50,000 hectare AZOD property package in July 2013. Work that lead to the announcement of three Copper Target Areas in December 2013 included soil sampling, geological mapping, geophysical surveys and interpretation of airborne geophysics, structural lineaments and Aster images. The two companies are still discussing a final settlement of accounts related to their partnership activities and any monies that may still be owing between the parties.

Zincore president and CEO, Jorge Benavides, said:

Although we are disappointed that First Quantum has decided to terminate the Regional Copper Exploration Program on our AZOD properties, a tremendous amount of useful information was generated by work carried out. In particular, three significant porphyry Copper Target Areas were identified at Larisa, Gema and Alcatraz. However, given financial market turmoil, none of these targets have yet been drill-tested. The facts remain that we have a large land package in an area of intensive copper project development and operation, which hosts a number of very attractive porphyry copper targets that are ready to be drill tested.

Click here to read the Zincore Metals (TSX:ZNC) press release