Caribou Cuts 3.4 Meters of 3.36% Cu and 5.54 g/t Ag From 2011 Drilling at the Caribou Dome Project, Alaska; Exploration to Continue
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/20/11 -- CARIBOU COPPER RESOURCES LTD. (TSX VENTURE: CKR) ("Caribou" or the "Company") is pleased to announce results of its 2011 drill program on its Caribou Dome Property in Alaska, USA. The drill program was designed to test the eastern extension of the "East Snow Gulch" zone, where trenching in 2010 exposed up to 4.03% copper over seven meters (see news release August 5th, 2011). Six of nine core drill holes in the 2011 program intersected copper sulfide mineralization, with the greatest intercept encountering 3.4 meters (11 feet) with 3.36% Cu and 5.54 g/t Ag.
The Caribou Dome Property is located 177 kilometers (110 miles) south of Fairbanks, Alaska, in the Talkeetna mining district of south-central Alaska. The property covers 4,144 hectares (10,240 acres) and positioned between Windy Creek and the south fork of Pass Creek in the Clearwater Mountains. Copper mineralization is contained primarily within two black shale and limestone horizons enclosed within a package of Mesozoic intermediate to mafic volcanic and intrusive rocks. The massive sulphide horizons strike essentially east-west and dip vertically to steeply northward, and are variably sheared parallel to bedding.
The 2011 core drill program was located 426 meters (1,400 feet) northeast of massive sulphide occurrences on the property that have been extensively drilled and sampled on surface and underground, and have a historic resource estimate of 499,315 tonnes (550,400 tons) with an average of 5.84% Cu (D.L. Stevens, 2008, Caribou Dome Copper Prospect, Clearwater Mountains, South-Central Alaska, NI 43-101 Technical Report prepared for Yow Capital). The Company emphasizes that the resource estimates are historical, and a qualified person has not done sufficient work to classify the historical resource estimate as current mineral resources, therefore these historical reserves should not be relied on and do not have currently demonstrated economic viability.
A total of 791 meters (2,595 feet) of NQ2 core was recovered in nine holes at seven collar sites on the East Snow Gulch zone. Core recovery over the massive sulphide intervals was 100% in all holes except CD-11-01 (90%) and CD-11-04 (50-80%). True thicknesses were estimated using the relationship of surface outcrop strike and dip to drill hole orientation, as well as bedding when observed in the core. Significant grades and thicknesses were intercepted in six of the nine drill holes as shown in the table below.
"We are very encouraged by these latest results, and believe that further exploration is justified, with the goal of providing an updated and NI 43-101 compliant resource estimate," stated Caribou Copper President Mike England. "Over the next few months we will be investigating various options for implementing an aggressive program for next season, which could involve a bringing in a partner with an objective to develop a large tonnage copper resource."
The technical contents of this release were approved by Tom E. McCandless, Ph.D., P.Geo, a director of the Company and a qualified person as defined by National Instrument 43-101.
Caribou Copper Resources' mission is to identify, acquire, and advance high potential base and precious metal prospects. For more information visit the website at .
ON BEHALF OF CARIBOU COPPER RESOURCES LTD.
Tom E. McCandless, President, and Director
Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Caribou Copper Resources. Actual results may differ materially from those currently anticipated in such 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.
Contacts:
Caribou Copper Resources Ltd.
Michael England
CEO
1-604-683-3995 or Toll Free: 1-888-945-4770
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Datum: 20.10.2011 - 12:00 Uhr
Sprache: Deutsch
News-ID 78375
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