Web Site: www.CuMtn.com
VANCOUVER, March 7 /PRNewswire/ - Copper Mountain Mining Corporation ("CMMC" or the "Company") announces assay results from eight diamond drill-holes completed in the Saddle zone and below Pit 2 of the Copper Mountain project. Drilling was targeted at defining additional mineralization in areas outside of the mine plan, specifically, the upper part of the Saddle zone and below the Pits 1 and 2. Drilling has defined some additional mineralization within the Saddle zone and, more importantly, demonstrated that mineralization in the Pit 2 area extends to significant depths below the currently planned Super Pit. Both grade and continuity of mineralization below Pit 2 appears to be improving with depth.
A total of fourteen holes were drilled from the Saddle Zone along six northwest-southeast oriented sections which were spaced on approximate 60m centres (see attached plan map). Results from five holes within the Saddle zone and three holes below Pit 2 are the subject of this release. Drill holes 10SD-63, 65, 67, 69and 70 are shorter holes within the Saddle zone, whereas 10SD-68, 71 and 75 are the deeper holes testing below Pit 2. Drill hole 10SD-75 is the lone hole that was drilled in a south-westerly direction from the north side of the Pit 2. A summary of the significant drill intercepts is presented in the table below, and drill hole locations can be found on the attached plan and section.
Saddle - Pit 2 Area: Significant Drill Intersections
|Hole_ID||Area Direction||From (m)||To (m)||Interval (m)||Cu_%||Ag g/t||Au g/t|
|10SD-68||Pit 2 NE||388.0||561.0||173.0||0.43||1.42||0.15|
|10SD-71||Pit 2 NE||418.0||492.7||74.7||0.46||1.29||0.14|
|10SD-75||Pit 2 SW||75.0||633.0||558.0||0.24||0.71||0.10|
Drilling in the western part of the Saddle Zone yielded favourable results, which were reported in a previous press release on Jan 13th, 2011; however, the current holes drilled in the Saddle zone only returned relatively narrow intersections, and drill holes 10SD-67 and 70 did not contain significant intersections. Drill holes that were extended through the Saddle zone and below Pit 2 were consistent in yielding significant intersections. The position of these drill intersections are shown on the attached drill section and plan. Intersections in drill holes DS-68, 71 and 75 indicate that mineralization extends to depths of greater than 200m below the planned Super Pit.
The 558m of mineralization in 10SD-75 contains some un-mineralized dyke and barren zones, which if removed, would leave 394m with an average grade of 0.33% Cu, 1.0 g/t Ag and 0.14 g/t Au, and includes two higher grade intersections of 54m at 0.62% Cu and 81m grading 0.40% Cu. The current drill results, together with results released previously, indicate the possibility for additional pit expansion in the Pit 2 area, however additional drilling would be required to develop Measured and Indicated resources in this area.
Core samples from the last five drill-holes of the 2010 exploration program are currently at the laboratory with assays pending.
The mineralized system at Copper Mountain is classified as a bulk-tonnage, alkalic porphyry copper deposit that is hosted within Nicola Group volcanic rocks. 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 shipped to Pioneer Laboratories for analysis. The drilling program is being 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 Project. The 18,000 acre mine site is located 20 km south of the town of Princeton in southern British Columbia. The Copper Mountain Project has a current resource of approximately 5 billion pounds of copper, the project is fully financed ($438M), in construction, and on schedule for the mine to produce approximately 100 million pounds of copper per year by mid 2011. Additional information is available on the Company's 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.
To view Plan view of 2010 Exploration Drilling please visit: http://files.newswire.ca/596/pressreleaseplanmap.pdf
To view Cross Section diagonally through the Pit 2 area illustrating drill holes from current program and Measured and Indicated Resource blocks, as well as the Super Pit (magenta) outline please visit: http://files.newswire.ca/596/pit2area.pdf
SOURCE Copper Mountain Mining Corporation