Trading Symbol: CCY
VANCOUVER, June 21 /PRNewswire-FirstCall/ - Catalyst Copper Corp. (the "Company" or "Catalyst") today announced Falcon Drilling has mobilized two diamond drill rigs to the La Verde property, located in Michoacan State, Mexico, and that drilling has commenced on the 2010 exploration program.
Porphyry copper mineralization at La Verde has been explored since the 1970s, resulting in the discovery of two mineralized copper zones; East Hill and West Hill. Previous geological and geophysical programs at La Verde have demonstrated a strong association between geophysical responses (Induced Polarization, "IP") and porphyry copper mineralization hosted in the multistage La Verde intrusive system.
The 2010 exploration budget of US$4.0 million includes costs associated with a minimum 10,000 meters of diamond drilling. Initial drill targets include confirmation holes across the known mineralization as part of the technical support required to bring the property into NI 43-101 compliance, as well as the commencement of drilling previously untested IP targets.
Catalyst Copper Corp. is a Vancouver-based publicly traded mine development company (TSX-V: CCY) that optioned the La Verde copper porphyry project in Michoacan, Mexico from Minera Torre de Oro, S.A. de C.V., a subsidiary of Teck Resources Limited (see December 8, 2009 news release for complete option details).
ON BEHALF OF THE BOARD OF DIRECTORS OF CATALYST COPPER CORP. "Terence W. Hodson" TERENCE W. 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.
SOURCE Catalyst Copper Corp.