DGAP-News: Excelsior Mining Corp. Intersects 0.45% Copper Over 960 Feet
(firmenpresse) - DGAP-News: Excelsior Mining Corp. / Key word(s): Miscellaneous
Excelsior Mining Corp. Intersects 0.45% Copper Over 960 Feet
22.03.2011 / 15:12
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Excelsior Mining Corp. (TSX-V: MIN, Frankfurt: 3XS) ('Excelsior') is
pleased to announce the first set of assay results from the Gunnison Copper
Property located within the copper porphyry belt in southern Arizona. The
2011 Phase I program consists of 10,000 meters (32,800 feet) of drilling
and preliminary hydrological and metallurgical tests.
Highlights from the first three holes include:
Drill Hole From (feet) To (feet) Length (feet) Total Copper %
NSD - 1 530.0 1490.0 960.0 0.45
including 530.0 932.5 402.5 0.59
NSD - 3 563.0 1543.6 980.6 0.28
including 1360.0 1543.6 183.6 0.44
NSD - 12 422.0 900.0 478.0 0.27
including 422.0 744.5 322.5 0.35
Please note that the holes were not drilled in sequence.
Gunnison contains a National Instrument (NI) 43-101 inferred resource of
4.77 billion pounds of copper (787 million tons at 0.30% copper) which
remains open for expansion (see news release dated November 2, 2010). The
first three holes continue to demonstrate the continuity in terms of
thickness and grade of the deposit and are expected to be used in upgrading
the resource from the inferred to the indicated category. NSD-01 and NSD-03
also help define the western extent of the copper mineralization.
'We are excited to have started this drill program with such great results,
'says Stephen Twyerould, President and CEO of Excelsior. 'Not only are the
grades and thickness as we expected or better, but the core is very nicely
fractured, which is key for developing this as an in-situ copper recovery
project.'
Over two-thirds of the copper contained in the NI 43-101 resource occurs as
oxide copper, which has the potential to be mined using in-situ recovery
(ISR) methods. The fractured nature of the deposit (see photo on left)
allows for fluid to move through and extract the copper before being pumped
back up to the surface. For further details on the ISR process and its
advantages, please visit: http://excelsiormining.com/e/in-siturecovery.php
Complete assay highlights with drill plan map are posted on the Excelsior
website at: http://excelsiormining.com/e/gunnison.php.
All samples are prepared from manually split half-core sections on site in
Arizona. Split drill core samples are then sent to Skyline Assayers&Laboratories in Tucson, Arizona for Total Copper and Sequential Copper
analyses. Standards, blanks, and duplicate assays are included at regular
intervals in each sample batch submitted from the field as part of an
ongoing Quality Assurance/Quality Control Program.
Excelsior's exploration work on the Gunnison Property is supervised by
Stephen Twyerould, Fellow of AUSIMM, President and CEO of Excelsior and a
Qualified Person as defined by NI 43-101. Mr. Twyerould has reviewed and
is responsible for the technical information contained in this news
release.
About Excelsior
Excelsior is an exploration and development company with a copper project
located within the copper porphyry belt of Arizona. The Gunnison Copper
Project is located close to the required infrastructure and with its
in-situ recovery potential, is intended for near-term production. The
Excelsior team consists of experienced professionals with proven track
records of advancing projects towards production.
Further details about Excelsior can be found on Excelsior's website at:
http://www.excelsiormining.com.
ON BEHALF OF THE EXCELSIOR BOARD
'Stephen Twyerould'
President&CEO
T: +1 604-681-8030
F: +1 604-681-8039
www.excelsiormining.com
NOT FOR DISSEMINATION IN THE US OR FOR DISTRIBUTION TO US NEWSWIRE SERVICES
Information set forth in this news release may involve forward-looking
statements under applicable securities laws. Forward-looking statements are
statements that relate to future, not past, events. In this context,
forward-looking statements often address expected future business and
financial performance, and often contain words such as 'anticipate',
'believe', 'plan', 'estimate', 'expect', and 'intend', statements that an
action or event 'may', 'might', 'could', 'should', or 'will' be taken or
occur, or other similar expressions. All statements, other than statements
of historical fact, included herein including, without limitation;
statements about the production potential of the Gunnison Copper Project
are forward-looking statements. By their nature, forward-looking statements
involve known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or other future
events, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such
factors include, among others, the following risks: the need for additional
financing; operational risks associated with mineral exploration;
fluctuations in commodity prices; title matters; environmental liability
claims and insurance; reliance on key personnel; the potential for
conflicts of interest among certain officers, directors or promoters with
certain other projects; the absence of dividends; competition; dilution;
the volatility of our common share price and volume and the additional
risks identified the management discussion and analysis section of our
interim and most recent annual financial statement or other reports and
filings with the TSX Venture Exchange and applicable Canadian securities
regulations. Forward-looking statements are made based on management's
beliefs, estimates and opinions on the date that statements are made and
Excelsior undertakes no obligation to update forward-looking statements if
these beliefs, estimates and opinions or other circumstances should change,
except as required by applicable securities laws. Investors are cautioned
against attributing undue certainty to forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release, and no
securities regulatory authority has either approved or disapproved of the
contents of this release.
End of Corporate News
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116448 22.03.2011
Datum: 22.03.2011 - 15:12 Uhr
Sprache: Deutsch
News-ID 33538
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