THEMAC Resources Group Limited: Copper Flat Mine 2011 Core Drilling Program Continues To Return Encouraging Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/07/11 -- THEMAC Resources Group Limited ("THEMAC" or "the Company") (TSX VENTURE: MAC) today provided an update on the 2011 core drilling program at the Company's Copper Flat project.
2011 CORE DRILLING PROGRAM-Results for Holes CF-11-08 through CF-11-12
Additional assay results for the recently completed 16-hole 2011 Copper Flat drilling program have been received for holes CF-11-08 through CF-11-12 (including CF-11-10B). A total of 6076.9 feet of drilling was completed in these six holes. At the end of this release, Figure 1 illustrates the locations of the six new holes and Appendix 1 lists their assay results. A November 17th news release summarized the first eight holes of this drilling campaign: CF-11-01 through CF-11-07 (posted on ). The assays for the remaining two holes (CF-11-13 and CF-11-14) are anticipated in late December.
"The results from these six additional holes at Copper Flat continue to be highly encouraging," said Andre Douchane, CEO. "These holes addressed areas of limited drilling in an effort to expand our knowledge of the high-grade Cu mineralization while adding to our geotechnical knowledge. Additionally, holes 9 and 11 showed mineralization outside of the current pit design. A surprising number of high grade copper intervals were reported at relatively shallow depths indicating the potential for better than average copper grades during the early years of mining."
Drilling Highlights
Table 1
Table 1 highlights drill intervals by hole based on equal to/greater than 0.65% Cu values.
Table 2
Table 2 is a summary of the average grade for each of these six holes. CF-11-10B had the highest average grade for Cu, at 0.35%.
Table 3
Results show 46 intervals with assay values equal to/greater than 0.65% Cu, encountered in holes CF-11-08, CF-11-09, CF-11-10B, and CF-11-11. The highest grade assays returned to date for this 2011 drilling is 2.34% Cu in CF-11-10B. Table 3 below lists each of these higher grade Cu assays on a per hole basis. No intercepts equal to/greater than 0.65% Cu were encountered in CF-11-10 and CF-11-12.
Table 4
Within these 6 holes, there are thirty (30) intercepts with values of greater than or equal to 300ppb Au. The highest Au value encountered in the 2011 drilling to date was in CF-11-09; 1,193ppb at 583-588 feet. Twenty-eight (28) of the thirty (30) intercepts were encountered relatively equally between holes CF-11-08, CF-11-09, and CF-11-10B. Table 4 summarizes the intercepts and values.
Assay Methods
Assaying was undertaken at Skyline Laboratory in Tucson, AZ. Copper, molybdenum, gold and silver were determined by multiple methods; gold was by fire assay with AA finish; silver was by AA; and copper and molybdenum by ICP. Reference standards and blanks were inserted in the sample streams, along with duplicate sampling of the core.
Standard procedures for core handling were in place during the program, with core being logged into the core facility at every shift change. A geologist was on site for all sample preparation and shipping.
About the Copper Flat Project
Copper Flat is a former producing mine located approximately 20 miles southwest of Truth or Consequences in Sierra County, State of New Mexico, USA. Permitting for a return of the project to production is at an advanced stage, and a prefeasibility study is in progress and targeted for completion during first quarter 2012.
The Copper Flat project is a porphyry copper-molybdenum-gold-silver deposit. The deposit has NI43-101 Indicated Mineral Resources of 107 million short tons grading 0.303% copper and 0.01% molybdenum for 645 million lbs copper and 21.4 million lbs molybdenum, plus Inferred Mineral Resources of 46 million short tons grading 0.24% copper and 0.006% molybdenum for 222 million lbs copper and 5.6 million lbs molybdenum.
The gold and silver content of the deposit is evidenced by historic production and metallurgical test work, and gold and silver are targeted for incorporation into the deposit's NI43-101 Mineral Resource statement following completion and interpretation of a re-assay program using historic drill pulps.
An NI43-101 Preliminary Economic Assessment ("PEA") dated June 30, 2010 and updated February 25, 2011 has been completed for Copper Flat and can be viewed on SEDAR, which includes the current NI43-101 Mineral Resource statement.
Civil infrastructure in place at Copper Flat includes a tailings dam, largely pre-stripped open pit, power lines, water well field and pipeline, access roads, diversion channels and building foundations. The project land package comprises in excess of 1,200 hectares. For more information visit .
About THEMAC Resources Group Limited
THEMAC is a copper development company with a strong management team and as of May 18, 2011, a 100% ownership interest in the Copper Flat copper-molybdenum-gold-silver project in New Mexico, USA. We are committed to bringing the closed copper mine, Copper Flat, in Sierra County, New Mexico back into production with innovation and a sustainable approach to mining development and production, local economic opportunities and the best reclamation practices for our unique environment. The Company is listed on the TSX Venture Exchange (ticker: MAC) and has issued share capital of 74,117,622 common shares (fully diluted share capital 135,648,241).
Technical information in this news release has been approved by Mr. John Marek, P. Eng., a Qualified Person under National Instrument 43-101.
For more information please visit or review the Company's filings on SEDAR ().
To view "Figure 1. Drill Hole Location Map, Copper Flat" please click on the following link:
To view "Appendix 1. Assay Results for CF-11-01 thru CF-11-07" please click on the following link:
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has reviewed, nor do they accept responsibility for the adequacy or accuracy of, this release.
Contacts:
THEMAC Resources Group Limited
Andre J. Douchane
CEO
(+1) 416 671 8089 or (+1) 520 850 7529
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Datum: 07.12.2011 - 19:29 Uhr
Sprache: Deutsch
News-ID 94868
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Mining & Metals
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