Zincore Metals Inc. (TSX:ZNC) and First Quantum Minerals Ltd.are proceeding to the second earn-in stage for the Dolores copper porphyry project in Peru. The two companies are exploring Dolores under a joint-venture agreement with all activities being funded by First Quantum.
As quoted in the press release:
By committing to the second earn-in requirements, First Quantum has earned a vested 30% project interest and may earn an additional 20.1% project interest by completing the second earn-in obligations.
Zincore President and CEO, Jorge Benavides, said:
We are very pleased that after reviewing the large body of work performed to date at Dolores, First Quantum has elected to fund and proceed with the next phase of exploration. Given their industry-acknowledged technical excellence and specific expertise gained from their work at the nearby Haquira project, this is a big vote of confidence that Dolores offers great potential as a copper project as we at Zincore have long believed.