2014

Catalyst Copper announces a 71% resource increase for La Verde copper porphyry

Trading Symbol: CCY

VANCOUVER, Jan. 20, 2012 /PRNewswire/ - Catalyst Copper Corp. today announced an updated Measured plus Indicated Resource of 354.1 million tonnes grading 0.41% Cu; 0.043 g/t Au; 2.3 g/t Ag at its La Verde copper porphyry deposit in Michoacán State, Mexico.  This represents a 71% increase in tonnage and 54% in contained copper over the previous resource released in January, 2011 (Table 1)

The resource, which was calculated using a 0.2% Cu cut-off, was completed by Wardrop, A Tetra Tech Company (Tetra Tech), and incorporates all drilling results from the 15,819 metres in 24 holes completed by the Company during 2011. This resource now includes gold and silver values not previously modeled as sufficient drill results now exist for these elements.

La Verde consists of two proximal deposits referred to as East Hill and West Hill. The deposits are amenable to low cost open pit mining methods and are located in an area of excellent infrastructure; rail, power, water and highways all cross the property.

"We are extremely pleased with the updated resource numbers," says Terry Hodson, V.P. Exploration. "Drill holes released from the 2011 drill program consistently returned encouraging results and the increased deposit size reflects those drill results. We believe there is still room for further expansion of the total deposit resource and our 2012 drill program will target these areas".

Catalyst Copper plans to use the updated resource to prepare a Preliminary Economic Assessment (PEA) for La Verde. Tetra Tech has commenced work on the preparation of preliminary open pit models for the deposits to be used in the PEA.

The 2012 resource was prepared by T. Maunula, P.Geo, Chief Geostatistician Tetra Tech who is an independent qualified person as defined by NI 43-101. The Mineral Resource estimate was completed using a 3D computer model. The drill hole database was based on 637 drill holes for a total of 108,800 meters, 46,105 assays. A composite interval of 5 meters was used and constrained to geological rock types. A single block model (10 x 10 x 10 meters) was created to envelope both mineralized deposits. Block grades were interpolated using the kriging technique. The estimate did not employ a high grade copper cap. A density (specific gravity) of 2.70 g/cm3 was used for the deposit (porphyry style mineralization). All QA/QC requirements have been followed including incorporating standards, blanks and duplicates into the assay procedures and independent check analyses by a second laboratory.

T.W. Hodson, P.Geo. is the qualified person as defined by National Instrument 43-101, and has reviewed the technical disclosure contained herein and accepts responsibility for such disclosure.

La Verde property is subject to a three year option agreement with a Mexican subsidiary of Teck Resources Limited (Teck), further details available on the Company's website at www.catalystcopper.com.

ON BEHALF OF THE BOARD OF DIRECTORS
OF CATALYST COPPER CORP.

"Terence W. Hodson, P.Geo."

TERENCE HODSON, V.P. EXPLORATION

Catalyst Copper Corp. will be exhibiting at the Vancouver Resource Investment Conference on January 22nd and 23rd 2012. Please come by and see us at booth number 1027 in the Vancouver Convention Centre West.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Neither 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.

Quality Assurance: The Company employs a system of quality control for drill results which includes the use of blanks, certified reference materials (standards) and check assaying. Core is logged on site and split with a diamond saw. Samples are shipped to Acme Analytical Laboratories Ltd. for analysis. All elements with the exception of gold are analyzed by Aqua Regia digestion and ICP-ES analysis. Gold is analyzed by fire assay method.

Tetra Tech Resource Model
                 
Class Cu COG Tonnes Cu% Au g/t Ag g/t Cu lbs Au ozs Ag ozs
Measured >=  0.100 38,415,147 0.42 0.05 2.6 354,618,583 61,324 3,267,091
  >=  0.200 29,341,759 0.50 0.055 2.8 325,302,101 52,024 2,650,735
  >=  0.300 21,569,568 0.60 0.059 3 283,388,682 40,838 2,103,439
                 
Indicated >=  0.100 514,031,345 0.30 0.036 1.9 3,443,046,222 590,107 31,811,907
  >=  0.200 324,735,229 0.40 0.042 2.2 2,847,277,405 433,490 23,368,430
  >=  0.300 194,705,580 0.50 0.047 2.5 2,158,223,306 292,358 15,735,138
                 
January, 2012
Class Cu COG Tonnes Cu% Au g/t Ag g/t Cu lbs Au ozs Ag ozs
                 
Ms+Ind >=0.100 552,446,500 0.31 0.037 2 3,797,664,800 651,400 35,079,000
  >=0.200 354,077,000 0.41 0.043 2.3 3,172,579,500 485,500 26,019,200
  >=0.300 216,275,000 0.51 0.048 2.6 2,441,611,100 333,200 17,838,600
                 
Inf >=0.100 345,639,642 0.27 0.038 1.6 2,047,473,900 423,700 17,834,900
  >=0.200 168,074,400 0.41 0.058 2.3 1,509,584,300 311,400 12,138,300
  >=0.300 92,309,100 0.55 0.078 2.8 1,110,400,900 230,600 8,300,500 
                 
January, 2011
Class Cu COG Tonnes Cu% Au g/t Ag g/t Cu lbs Au ozs Ag ozs
                 
Ms+Ind >=0.100 341,923,500 0.33 --- --- 2,508,360,100 --- ---
  >=0.200 207,174,900 0.45 --- --- 2,071,045,100 --- ---
  >=0.300 139,680,700 0.55 --- --- 1,701,017,500 --- ---
                 
Inf >=0.100 189,027,500 0.33 --- --- 1,356,773,900 --- ---
  >=0.200 114,824,500 0.45 --- --- 1,127,750,900 --- ---
  >=0.300 76,866,400 0.54 --- --- 918,906,500 --- ---
                 
%Change Jan. 2011 to Jan. 2012            
                 
Ms+Ind >=0.100 62%       51%    
  >=0.200 71%       53%    
  >=0.300 55%       44%    
                 
Inf >=0.100 83%       51%    
  >=0.200 46%       34%    
  >=0.300 20%       21%    
                 
Notes:                
1. It cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an
Indicated or Measured Resource as a result of continued exploration.
2. Mineral Resources are not Mineral Reserves as there are insufficient studies to demonstrate economic viability.
3. The Mineral Resource is a global insitu total without constraints to an economic pit.
   
Ms = Measured Resources Cu%  = copper percent Cu lbs = copper pounds
Ind  = Indicated Resources Au g/t = gold grams per tonne Au oz = gold ounces
Inf  = Inferred Resources Ag g/t = silver grams per tonne Ag oz = silver ounces
Cu COG = Copper cut-off grade grams to oz = grams/31.103      

 

 

SOURCE Catalyst Copper Corp.




Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.