2011 La Verde Drill Program returns 0.76% Cu, 0.2 g/t gold over 175 meters
Trading Symbol: CCY
VANCOUVER, June 6, 2011 /PRNewswire/ - Catalyst Copper Corp. (the "Company" or "Catalyst") today released assay results for a further two drill holes of the current approximate 20,000 meter drill program in progress on the La Verde copper porphyry project in Michoacán state, Mexico.
Holes LV11-018 and LV11-019 were drilled on the East Hill deposit. LV11-019 returned 0.206 g/t gold, 9.1 g/t silver and 0.76% copper over 175.04 meters from 239.0 to 414.34 meters. Hole LV11-018 returned 0.051 g/t gold, 4.2 g/t silver and 0.432% copper over 390.35 meters. Results from these two drill holes; the second and third holes completed this year on the East Hill deposit, continue to confirm the presence of potentially economic copper, gold, silver and molybdenum values associated with the East Hill copper deposit (Table 1).
TABLE 1. 2011 Drill Results
| Drill Hole |
From (metres) |
To (metres) |
Length (metres) |
Cu% |
Au g/t |
Ag g/t |
Mo% |
Location |
|
| LV11-019 | 239.30 | 699.45 | 460.15 | 0.572 | 0.117 | 6.1 | 0.003 | East Hill | |
| Incl. | 239.30 | 414.34 | 175.04 | 0.760 | 0.206 | 9.1 | 0.003 | ||
| Incl. | 424.00 | 472.00 | 48.00 | 0.731 | 0.166 | 5.3 | 0.003 | ||
| Incl. | 582.43 | 624.25 | 41.82 | 0.943 | 0.009 | 10.0 | 0.003 | ||
| LV11-018 | 486.20 | 876.55 | 390.35 | 0.432 | 0.051 | 4.2 | 0.004 | East Hill | |
| Incl. | 743.10 | 876.55 | 133.45 | 0.572 | 0.065 | 6.5 | 0.003 | ||
| LV11-017 | 320.62 | 711.00 | 390.38 | 0.413 | 0.078 | 3.2 | 0.005 | East Hill | |
| Incl. | 496.82 | 633.70 | 136.88 | 0.653 | 0.118 | 4.0 | 0.002 | ||
| LV11-016 | 7.60 | 875.49 | 876.89 | 0.363 | 0.005 | -- | -- | West Hill | |
| LV11-015 | 14.90 | 40.95 | 26.05 | 0.310 | 0.017 | -- | -- | West Hill | |
| 241.00 | 258.60 | 17.60 | 0.526 | 0.109 | -- | -- | |||
| 505.00 | 519.15 | 14.85 | 0.439 | 0.003 | -- | -- | |||
| 551.00 | 580.15 | 29.15 | 0.438 | 0.003 | -- | 0.003 | |||
| LV11-014 | 130.10 | 143.48 | 13.38 | 0.592 | 0.012 | -- | 0.002 | West Hill | |
| 312.00 | 330.90 | 18.90 | 0.498 | 0.018 | -- | -- | |||
| 358.24 | 368.45 | 10.21 | 0.370 | 0.003 | -- | -- | |||
| 409.30 | 419.80 | 10.50 | 0.787 | 0.003 | -- | -- | |||
| 487.85 | 646.50 | 158.65 | 0.450 | 0.002 | -- | 0.002 | |||
| LV11-013 | 91.70 | 151.40 | 59.70 | 0.378 | 0.002 | -- | -- | West Hill |
Assays for hole LV11-018 returned a significantly longer mineralized intersection than intersected by the previous drilling in this area and extended mineralization (copper, gold, silver) to the south and to depth on this section. Drilled at -50° to the north on Section 812000 East, this hole was designed to test an area of inferred mineralization as defined by two holes located above the target location (See Image One http://files.newswire.ca/949/LaVerde_East_Image_1.doc).
Drill hole LV11-019, drilled on East Hill section 812150 East (Image Two http://files.newswire.ca/949/LaVerde_East_Image_2.doc) at -50° to the north, also targeted an area of inferred mineralization located below previous holes on this section. This drill hole, located 150 meters east of LV11-018, returned results similar to hole LV11-018 and also cored a wider mineralized intersection than seen in the previous holes on this section. Copper, gold, and silver values were extended to the south and to depth, expanding the previously defined resources on this section.
Another hole (LV11-020) was drilled on the southern edge of the East Hill deposit on section 812350 East and was designed to extend the known deposit to the south and to depth, LV11-020 is complete and awaits assay results. Drill hole LV11-021 is in progress and is testing a previously undrilled geophysical target (Induced Polarization) located two kilometres south of the East Hill deposit.
Drilling at La Verde commenced on January 28, 2011. As of May 17, 2011 eight holes had been completed for a total of 6,332 meters.
During 2011, Catalyst plans to drill a minimum of 20,000 meters at La Verde. Additional work planned for 2011 includes environmental studies, metallurgical test work and updating the NI43-101 resource estimate to incorporate new drill results.
A map showing previous and current drill holes is available on the Catalyst website at www.catalystcopper.com.
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) whereby Catalyst's 100% Mexican subsidiary, Minera Hill 29, may earn a 60% interest in La Verde by making US$10,000,000 in exploration expenditures (including 30,000 meters of drilling and 200 kilometers of IP) by December 31, 2012. Upon Catalyst earning a 60% interest, Teck has the option to increase its interest to 60% by incurring aggregate expenditures equal to two times the amount spent by Catalyst. Should Teck fail to exercise its option to earn a 60% interest, Catalyst can acquire a 100% interest in La Verde by paying to Teck US$20 million. The property is subject to an underlying 0.5% NSR.
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.
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