Copper Mountain Announces Positive Drill Results at New Ingerbelle
(firmenpresse) - COPPER MOUNTAIN ANNOUNCES POSITIVE DRILL RESULTS AT NEW INGERBELLE
Vancouver, British Columbia - July 23, 2018 - Copper Mountain Mining Corporation (TSX: CMMC | ASX:C6C) (the Company or Copper Mountain) http://www.commodity-tv.net/c/search_adv/?v=298239 is pleased to announce initial drill results from Phase 2 of its 3-Phase drilling program at the New Ingerbelle property nearby the present operations of Copper Mountain Mine (See Appendix A for New Ingerbelle location map).
Highlights include:
- Hole 18IG-06 returning 105 metres of 1.03% CuEq (0.71% Cu, 0.87 g/t Ag, 0.47 g/t Au), which includes:
o 30 metres of 2.22% CuEq (1.53% Cu, 2.02 g/t Ag, 1.01 g/t Au), and,
o 48 metres of 0.83% CuEq (0.58% Cu, 0.58 g/t Ag, 0.37 g/t Au)
- Hole 18IG-03 returning 63 metres of 0.91% CuEq (0.56% Cu, 0.91 g/t Ag, 0.51 g/t Au) and 117 metres of 0.50% CuEq (0.35% Cu, 0.49 g/t Ag, 0.22 g/t Au)
- Hole 18IG-01 returning 165 metres of 0.63% CuEq (0.44% Cu, 0.60 g/t Ag, 0.29 Au g/t), which includes:
o 93 metres of 0.81% CuEq (0.55% Cu, 0.74 g/t Ag, 0.38 g/t Au), and,
o 48 metres of 0.56% CuEq (0.4% Cu, 0.52 g/t Ag, 0.24 g/t Au)
- Hole 18IG-02 returning 60 metres of 0.70% CuEq (0.47% Cu, 0.98 g/t Ag, 0.33 g/t Au)
- Hole 18IG-05 returning 48 metres of 0.72% CuEq (0.49% Cu, 1.05 g/t Ag, 0.33 g/t Au), which includes:
o 21 metres of 1.19% CuEq (0.8% Cu, 1.73 g/t Ag, 0.56 g/t Au)
Gil Clausen, Copper Mountains President and CEO stated, These early phase 2 drill results are very encouraging, and we believe demonstrate that New Ingerbelle will continue to grow in quality and size. We see New Ingerbelle as having transformative potential for our operations in B.C. providing further growth opportunity for the Company.
New Ingerbelle provides considerable upside as the Company has never reported any New Ingerbelle Mineral Reserves. Copper Mountain initiated a 3-Phase drilling program at the New Ingerbelle Mine last year with Phase 1. The Phase 1 program, which consisted of 22 drill holes, was successful in validating and confirming historical data, thus allowing a revised Mineral Resource estimate using both historical and new drill data. The program also confirmed the significant gold mineralization at New Ingerbelle (see February 1, 2018 press release).
The objectives of this Phase 2 drilling program are to continue to expand the New Ingerbelle resource area and to convert Inferred Mineral Resources to the Measured and Indicated status. A total of 30 holes are planned. Complete drill results from this program followed by an updated Mineral Resource estimate is planned in Q3 2018.
The Companys objective under the 3-phase program at New Ingerbelle is to outline sufficient resources to form the basis of a Feasibility Study on the development potential of this historic producing mine. The Companys target is to add a minimum of 150 million tonnes of Measured and Indicated resource to commence that study.
Significant intercepts from the seven completed drill holes to date, are summarized in the table below. A drill hole location map for the Phase 2 program and associated cross sections can be found in Appendix B, while a detailed listing of drill holes being reported can be found in Appendix C.
Hole IDAzi Dip LengtFromTo IntervCu% Ag g/tAu g/tCu Eq%
h (m) al *
(m)
(m)
18IG-01315 -48 312 33 63 30 0.33 0.45 0.31 0.54
72 111 39 0.21 0.27 0.11 0.29
120 141 21 0.17 0.28 0.12 0.25
147 312 165 0.44 0.60 0.29 0.63
Incl 147 240 93 0.55 0.74 0.38 0.81
Incl 264 312 48 0.4 0.52 0.24 0.56
18IG-02222 -45 180 0 60 60 0.47 0.98 0.33 0.70
66 93 27 0.14 0.42 0.06 0.18
18IG-0342 -57 348 33 96 63 0.56 0.91 0.51 0.91
114 126 12 0.24 0.33 0.14 0.34
198 231 33 0.11 0.21 0.06 0.15
231 348 117 0.35 0.49 0.22 0.50
18IG-04315 -54 273 84 207 123 0.35 0.57 0.25 0.42
18IG-05315 -54 288 9.6 27 17.4 0.2 0.5 0.13 0.29
27 42 15 0.11 0.29 0.04 0.14
60 87 27 0.19 0.4 0.14 0.29
120 138 18 0.11 0.3 0.07 0.16
168 216 48 0.49 1.05 0.33 0.72
Incl 168 189 21 0.8 1.73 0.56 1.19
18IG-06315 -58 303 48 120 72 0.2 0.35 0.11 0.28
132 237 105 0.71 0.87 0.47 1.03
Incl 132 180 48 0.58 0.58 0.37 0.83
Incl 207 237 30 1.53 2.02 1.01 2.22
18IG-07222 -45 290 12 68 56 0.22 0.46 0.12 0.30
170 209 39 0.18 0.33 0.12 0.26
248 281 33 0.35 0.67 0.28 0.54
*CuEq%: Calculated using US$2.75/lb Cu, US$1,250/oz Au, and US$16/oz Ag, at 100% recoveries.
Competent Persons Statement
The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Peter Holbek, B.SC (Hons), M.Sc. P. Geo. Mr. Holbek is a full time employee of the Company and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Holbek does consent to the inclusion in this news release of the matters based on their information in the form and context in which it appears.
Peter Holbek is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the
technical content of this release.
About Copper Mountain Mining Corporation:
Copper Mountains flagship asset is the Copper Mountain mine, located in southern British Columbia near the town of Princeton. The Company has a strategic alliance with Mitsubishi Materials Corporation who owns 25% of the mine. The Copper Mountain mine has a large resource of copper that remains open laterally and at depth. This significant exploration potential is being explored to maximize the propertys full development potential. Copper Mountains Cloncurry project in Queensland, Australia, includes the development-ready Eva Copper Project and an extensive exploration potential within the Companys 379,000 hectare highly prospective land package within the Mount Isa area.
Additional information is available on the Companys web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Gil Clausen-
Gil Clausen, P.Eng.
Chief Executive Officer
For further information, please contact:
Letitia Wong, Vice President Corporate Development & Investor Relations
604-682-2992 Email: letitia.wong(at)cumtn.com or
Dan Gibbons, Investor Relations 604-682-2992 ext. 238 Email: Dan(at)CuMtn.com
Website: www.CuMtn.com
In Europe:
Swiss Resource Capital AG
info(at)resource-capital.ch
www.resource-capital.ch
Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts expectations or estimates or to release publicly any revisions to any forward-looking statement.
APPENDIX A: NEW INGERBELLE LOCATION
http://www.irw-press.at/prcom/images/messages/2018/44097/News Release 22 New Ingerbelle Phase 2 (7 holes) Jul 23-2018_PRCOM.001.jpeg
APPENDIX B: PHASE 2 DRILL HOLE MAP
http://www.irw-press.at/prcom/images/messages/2018/44097/News Release 22 New Ingerbelle Phase 2 (7 holes) Jul 23-2018_PRCOM.002.jpeg
APPENDIX B: CROSS SECTIONS
CROSS SECTION A
http://www.irw-press.at/prcom/images/messages/2018/44097/News Release 22 New Ingerbelle Phase 2 (7 holes) Jul 23-2018_PRCOM.003.jpeg
CROSS SECTION B
http://www.irw-press.at/prcom/images/messages/2018/44097/News Release 22 New Ingerbelle Phase 2 (7 holes) Jul 23-2018_PRCOM.004.jpeg
APPENDIX C: 2018 New Ingerbelle Drill Holes
HOLE-ID EastinNorthinElevatAzimutDip Lengt
g* g* ion h h
18IG-01 6778895467890844 310 -48 312
18IG-02 6778895467890844 222 -45 180
18IG-03 6778895467890844 42 -57 348
18IG-04 6780765467972857 315 -54 273
18IG-05 6779765468062917 315 -54 288
18IG-06 6781055468064861 315 -58 303
18IG-07 6779375468183949 222 -45 290
*UTM NAD 83 Zone 10
Diamond drilling, which runs 24/7, uses NQ2 diameter rods and bits and drill core is placed in wooden boxes which are delivered to the core logging area at the end of every shift. Drill-hole collars are surveyed with differential GPS and down-hole surveys using a Reflex instrument are taken approximately every 30-80m depending on ground conditions and hole length. The core is logged, and sample tags a stapled into the boxes where samples are to be taken and the core is photographed. Core recovery is always at, or near, 100% except for fault zones. All assay samples are 3m in length. Core is split with a diamond saw, and samples are transported to the mines analytical laboratory by members of the exploration team. Samples are sorted, weighed, dried and crushed prior to pulverizing to 75% passing -200mesh. Cu and Ag are analyzed by XRF and samples with >0.4% Cu are re-analyzed by Atomic Absorption. Sample pulps for all samples >0.1% Cu are delivered to a commercial lab for Au analysis by either fire assay or Aqua Regia digestion followed by AA analysis. Additionally, every tenth sample is analyzed by ICP-AES for a 35 element suite, which includes Cu and Ag providing checks on the mine-site laboratory, in addition to routine insertion of standards and blanks. All pulps and coarse-reject material are retained.
Intercept grades are length-weighted averages using uncut grades. For additional information on project land holdings, history, production data, geology and mineralization, the reader is directed to Canadian NI:43-101 reports which a filed under the company name on the SEDAR website.
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Datum: 24.07.2018 - 11:18 Uhr
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