Trading Symbol: CCY
VANCOUVER, Oct. 26, 2011 /PRNewswire/ - Catalyst Copper Corp. (the "Company" or "Catalyst") today released the latest drill results from its ongoing drill program at the La Verde copper porphyry project in Michoacán state, Mexico, including a 197.1-meter intercept in Hole LV11-026 on the East Hill deposit which returned 0.36% copper, 0.108 g/t gold, 3.9 g/t silver.
Catalyst also announced that Tetra Tech WEI Inc. has been contracted to produce an updated NI43-101 resource estimate which is expected to be completed by the end of this year. Based on the continuity of mineralization seen during the 2011 drill program Catalyst expects an increase in the previous December 2010 NI43-101 resource estimate shown below:
Table 1. December 2010 La Verde Resources
|Measured + Indicated||Copper||Inferred||Copper|
|tonnes||Cu (%)||(billion lbs)||tonnes||Cu (%)||(billion lbs)|
- Based on 0.20% Cu cut-off
- Does not include potential Au-Ag-Mo credits.
- See January 2011 press release for complete details.
Today's drill results
Drill holes LV11-026 and LV11-027 were drilled on the East Hill deposit. LV11-026 returned 0.23% copper, 0.042 g/t gold and 2.8 g/t silver over 584.2 meters, including 7.0 meters of 1.49% Cu, 0.012 g/t gold and 30.2 g/t silver and 197.1 meters of 0.36% Cu, 0.108 g/t gold and 3.9 g/t silver. Drill hole LV11-027 returned 0.15% copper, 0.111 g/t gold and 1.2 g/t silver over 23.4 meters. Table 2.
Drill holes LV11-028, LV11-029 and LV11-030 were drilled on section 811650E to test the valley separating the East Hill from the West Hill deposit. LV11-028, the most northerly drill hole on this section, returned 111.5 meters of 0.29% copper, 0.111 g/t gold and 1.2 g/t silver from 335.0 to 446.5 meters. This is the most encouraging drill intersection returned to date from the gap between the two deposits. It outlines the potential for expansion of the East Hill deposit towards the West Hill deposit and also indicates an area with elevated copper-gold values. Follow-up drill holes are planned for this copper-gold zone.
Drill holes LV11-031 and Lv11-032 were drilled on the West Hill deposit. Both of these drill holes intersected chalcopyrite (copper rich) veins as well as fracture and disseminated copper sulfides. Partial assay results for LV11-031 returned 19.5 meters of 1.43% Cu, 99.3 meters of 0.71% Cu and 4.2 meters of 6.41% Cu; 16.0 g/t silver. Further assay results are pending for these two drill holes.
In total Catalyst has now completed 26,089 meters of drilling on the La Verde property of which 13,809 have been drilled during the ongoing 2011 drill program. (See September 6, 2011 News Release for previously released assay results).
TABLE 2. 2011 La Verde Assay Results
|Drill Hole||From||To||Length||Cu%||Au g/t||Ag g/t||Mo%||Location|
Previously released 2011 drill holes can be found on the company's website at www.catalystcopper.com/media/news-releases/2011.
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.
About La Verde
La Verde is located in an area with excellent infrastructure. Power, rail and water all cross the property. Lazaro Cardenas, Mexico's third largest port on the Pacific Ocean coast is 180 km from the site. Significant upside potential remains for the two known zones of porphyry style copper, gold and molybdenum mineralization as the 2010 drill program has shown both deposits remain open to depth and along strike.
La Verde property is subject to an 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
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.
SOURCE Catalyst Copper Corp.
PDF with caption: "Drill holes LV11-026 through LV11-031". PDF available at: http://stream1.newswire.ca/media/2011/10/26/20111026_C7704_DOC_EN_5623.pdf