Blue River Resources' (TSXV:BXR) Castle Copper Property in British Columbia Borders Xstrata Copper's Acquisitions - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, July 9, 2012 - With Xstrata, one of the world's
largest mining and metals companies, back in the news due to its merger with
Glencore International, making the combined company the 4th largest mining
company in the world, shareholders of Vancouver based Blue River Resources
(TSXV:BXR) are watching to see if this will further increase interest in the
development of British Columbia's bulk-tonnage copper deposits.
InvestmentPitch.com has produced a "video news alert" about Blue River
Resources. If this link is not enabled, please visit www.InvestmentPitch.com and
enter "Blue River" in the search box.
Blue River Resources, which went public last August on the TSX Venture Exchange,
had Xstrata Copper acquire land positions on two sides of its Castle Copper
Project in the Princeton area of British Columbia this year.
The company's initial mineral property is the 18,000 acre Castle Copper Property
located 12 kilometres north of the town of Princeton in southwestern British
Columbia, and strategically located 25 kilometres north of Copper Mountain
Mining's new open pit copper mine.
Over the last two years, Xstrata Copper has been inking joint ventures in the
Quesnel Trough of BC, with a total of five joint ventures. The Quesnel Trough,
where all of Blue River's projects are located, is recognized as one of the most
prolific copper mineralized belts in the world. Two of Xstrata's recent
acquisitions flank Blue River's Castle Copper property, which has been explored
intermittently since the late 1950's.
Previous historic drilling showed results ranging from 100 feet of 0.65% to 230
feet of 1.1% copper.
Blue River's first move was a 10 hole 1,350 metre drill program to test the
depth extension of a previously identified zone of anomalous copper
mineralization, which measured 500 metres by 150 metres. In January they
released their first drill results, with Hole BXR 11-7 intersecting 120 feet (43
metres) grading 0.16% copper starting at just 19 metres below surface and Hole
BXR 11-9 intersecting 600 feet (200 meters) grading 0.04% copper from 30 meters
below surface
President Griffin Jones stated, "We are very encouraged that the initial diamond
drill program on the Castle Copper Project resulted in copper mineralization in
8 of 10 holes that were recovered. BXR Hole 11-9 is also exciting due to its
600 foot intersection and the consistency of the porphyry-style mineralization.
This gives us an excellent starting point for further exploration and drilling
in 2012."
The company recently acquired an Aeroquest helicopter-borne EM and Mag survey,
covering the Castle property. This survey, which indicated a large magnetic
anomaly, with a prominent north and north-west extending trend, will provide
data to be used in conjunction with recently discovered historical results, as a
basis for the company's 2012 exploration and drilling programs.
Blue River has been expanding their footprint in the area, increasing the Castle
property to approximately 18,000 acres. To the north, the company entered into
an option agreement to earn a 100% interest in the Highland North property
located in British Columbia's Highland Valley. This property is approximately
1,900 acres and directly adjoins Teck's Highland Valley copper mine property,
approximately 3.5 miles (6 kilometres) from the former Bethlehem deposit, the
first copper mine in the camp. Twelve kilometres to the south, Blue River has
an option to earn a 100% interest in the Highland South Project, a 5,800 acre
property located adjacent to 2 active exploration programs. One of these
programs recently reported 162 metres of 0.33% copper, 95 metres of 0.65% copper
and 102 metres of 0.45 copper
Blue River plans to conduct diamond drilling this year on the Highland North
property & mapping and soil sampling on the Highland South property.
Shareholders can look forward to continuing news from this area which already
has 3 mines in production and several in development. Blue River currently
trades at $0.13 and with approximately 26.8 million shares outstanding is
capitalized at $3.5 million.
For more information on Blue River Resources you can visit their website at
www.blueriv.com or contact the company's President, Griffin Jones at
604-682-7339, or email griff(at)blueriv.com.
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating, hosting, and distributing financial video content across multiple
platforms to investors and financial professionals, specializes in producing
three minute videos based on news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1625373]
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Datum: 09.07.2012 - 19:08 Uhr
Sprache: Deutsch
News-ID 163425
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