Web Site: www.CuMtn.com
VANCOUVER, April 3, 2013 /PRNewswire/ - Copper Mountain Mining Corporation ("CMMC" or the "Company") summarizes results from the 2012 mine site exploration program, which was successful in extending mineralization both laterally and to depth beyond the current limits of the Super pit.
The 2012 exploration program consisted of a total of 18,400m of core drilling in 66 holes and 3,120m of shallow percussion drilling in 110 holes. Exploration was successful in confirming the continuity of deep mineralization below the Pit 2 area, extending mineralization to the north and northwest of Pit 2, and intersecting high grade mineralization below the Super pit bottom in Pit 3. The most significant results from the drill program were intersections of 123m grading 0.75% CuEq* and 122.8m grading 0.69% CuEq at depths in excess of 150m below the bottom of the Super pit in the Pit 2 area; an intersection of 102m grading 0.70% Cu immediately below the bottom of the Super pit in the center of Pit 3 area; and an intersection of 32m grading 3.03% CuEq in the southern end of Pit 3. This release summarizes the full 2012 exploration program and some of the results, in whole or part, were previously reported in September, 2012.
Pit 2 Deep Drilling: Five holes, spaced approximately 100m apart, were drilled with a southwesterly orientation deep below the western Pit 2 area, and intersected mineralization at depths up to 250m below the bottom of the proposed Super pit. These deeper holes, together with those drilled in 2010/11, encountered mineralization below the existing resource over the entire length of Pit 2, with the best grades below the south wall of the pit. Pit 2 mineralization remains open in all directions except to the southeast.
Pit 2 Deep Drilling: Significant drill intersections
|Hole_ID||Area||From (m)||To (m)||Interval (m)||CuEq%||Cu%||Ag g/t||Au g/t|
* CuEq. or copper equivalent is based on Cu, Ag, and Au prices of $3.50/lb, $31/oz and $1500/oz, respectively, mine site average recoveries of 82%, 48% and 75% respectively; and smelter terms and transportation charges and is designed to allow easy comparison of results from the different areas.
Pit 2 Near Surface Results: Shallow drilling along the southern, northern and western edges of the Pit 2 area was successful at infilling gaps within the block model as well as extending mineralization to the north, west and northwest. Fourteen, relatively shallow, holes were completed on the south and west side of Pit 2 infilling gaps and increasing confidence of resource blocks. Eleven, shallow to moderate length, drill-holes were completed on the north side and two medium length holes were drilled to the northwest from the northwest corner of the pit. Additionally, five deep drill-holes below the west-central part of Pit 2 were completed from the north side of the pit, with the results from the upper part of these holes included in table below. See attached map for drill-hole locations.
Pit 2 Near Surface drilling: Significant drill intersections
|Hole_ID||Area||From (m)||To (m)||Interval (m)||CuEq%*||Cu%||Ag g/t||Au g/t|
The drill results on the north side of Pit 2 extended mineralization, resulting in a northwards expansion of the Super pit. Additionally, results from drilling to the northwest of Pit 2 (12P2-36) indicate that lower grade mineralization extends for distances of 300m beyond the northwest edge of the Super pit. Percussion drilling in the northeastern side of the pit proved to be a rapid and inexpensive way of obtaining more data from the upper benches to assist with mine planning. Favourable results of the diamond and percussion drilling suggested higher tonnages and grades than projected by the reserve model which was confirmed by initial mining in Pit 2.
Pit 3 Drilling: In the Pit 3 area 12 holes totalling 5,200m were drilled in the southern and central Pit 3 areas and helped determine the extent of historical mining in high-grade areas, as well as extending mineralization both laterally and to depth. Ten holes were drilled on three, north-easterly oriented, "scissor" sections spaced approximately 100m apart, at the southern end of Pit 3, while two holes (P3-11 and 12) were drilled off the ramp near the center of the pit, to the northwest and southeast, respectively. Two of the holes (12P3-05, 06) in the southern end of the pit were not completed due to broken ground, and a third hole (12P3-01) was abandoned in high grade mineralization after intersecting an historical underground working. Results of the drilling in the southern end of Pit 3 indicate that a zone of variable, but generally narrow, thickness but relatively high-grade mineralization, trends along the volcanic-intrusive contact and that only part of this zone was previously mined during the underground era.
Pit 3: Significant drill intersections
|Hole_ID||Area||From (m)||To (m)||Interval (m)||CuEq%||Cu%||Ag g/t||Au g/t|
Three holes drilled well below the maximum depth of historical workings (12P3-09, 10 and the lower part of 12P3-12) did not intersect significant mineralization at depth and suggest that mineralization in the southern end of the pit is, at least partly, depth limited. Drill-hole 12P3-11 intersected high grade mineralization immediately below the bottom of the proposed Super pit as well as extending mineralization to depths of 150m below the Super pit near the approximate center of Pit 3, which together with the results from the south end of Pit 3, suggests that mineralization maybe plunging to the northwest.
Alabama Ridge Drilling: Mineralization in the Alabama area is generally more disseminated and less structurally controlled, and therefore is generally of lower grade relative to other areas of Copper Mountain. Drilling in the Alabama area was designed to increase the resource grade and classification. Results of the drilling were generally favourable indicating potential for some higher grade areas within the Alabama zone and demonstrating pervasive low grade mineralization. A total of 16 holes were drilled along NE-SW oriented sections spaced 60m apart, over the central and western parts of the Alabama ridge. Although drilling failed to extend mineralization to the west, it did delineate a zone of moderate grade mineralization below the ridge crest, and almost all holes ended in mineralization. Results are summarized below, and drill-hole locations can be found on the accompanying plan.
Alabama Zone: Significant drill intersections
|Hole_ID||From (m)||To (m)||Interval (m)||CuEq.%||Cu_%||Ag g/t||Au g/t|
The mineralized system at Copper Mountain is classified as a bulk-tonnage, alkalic porphyry copper deposit that is hosted within Nicola Group volcanic rocks and Lost Horse Intrusions. Mineralization is structurally controlled and focused at multi-directional vein intersections and within vein stockwork systems. Drill holes are usually drilled at angles of -45 or -55 degrees to provide the best indication of the lateral extents of vertically oriented mineralization.
The company employs a system of quality control for drill results which includes the use of blanks, certified reference material (standards) and check assaying. Core is logged on site and split with a diamond saw. Samples are analyzed for copper at the mine laboratory. Gold and silver, as well as a large number of duplicate copper assays are determined on pulps by Pioneer Laboratories in Richmond, B.C. The drilling program is supervised by Peter Holbek, M.Sc., P.Geo., a qualified person as defined by National Policy Instrument 43-101.
About Copper Mountain Mining Corporation:
Copper Mountain is a Canadian resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company's shares trade on the Toronto Stock Exchange under the symbol "CUM". Copper Mountain owns 75% and Mitsubishi Materials Corporation owns 25% of the Copper Mountain Mine. The 18,000 acre mine site is located 20 km south of the town of Princeton in southern British Columbia. The Copper Mountain Mine has a current resource of approximately 5 billion pounds of copper and recently commenced production. Additional information is available on the Company's new web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
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.
SOURCE Copper Mountain Mining Corporation