VANCOUVER, March 29 /PRNewswire/ - Copper Mountain Mining Corporation ("CMMC" or the "Company") announces assay results from the last five diamond drill-holes of the 2010 exploration program completed in the Saddle zone and below Pits 1 and 2 of the Copper Mountain project. Drilling was targeted at defining additional mineralization in areas outside of the current mine plan, specifically, within the upper elevations of the Saddle zone and adjacent to the lower elevations of the Saddle zone, below the Pits 1 and 2. Overall, the program was successful in defining additional mineralization in the western end of the Saddle zone, expanding mineralization in the Pit 2 area to depth, and adding mineralization on the north side of Pit 1. The significant intersections below the south wall of Pit 2, where both grade and continuity of mineralization appears to be improving with depth, as well as the intersections in the western part of the Saddle zone are expected to be accretive to the resource base and could be a significant factor in determining future pit expansions.
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 collared in the Saddle zone, with four extending below Pit 1 and one below Pit 2, are listed in the table below and are the final results from the 2010 drill program. All six of the holes drilled under Pit 2, one on each of the six sections, returned significant intersections, with the highest grades coming from the easternmost drill hole, 10SD-64 (127.5m grading 1.01% Cu, 2.4 g/t Ag and 0.25 g/t Au). These intersections demonstrate that mineralization in Pit 2 extends to depth, locally to more than 200m below the currently designed Super-pit.
Pit 1 and Pit 2 Areas: Significant Drill Intersections
|Hole_ID||Area Direction||From (m)||To (m)||Interval (m)||Cu_%||Ag g/t||Au g/t|
|10SD-64||Pit 2 NE||90||108||18.0||0.47||1.33||0.04|
|and||Pit 2 NE||396.5||542.0||127.5||1.01||2.38||0.25|
|10SD-66||Pit 1 SW||174.0||192.0||18.0||0.29||1.00||0.10|
|10SD-72||Pit 1 SW||295.0||331.4||29.4||0.56||1.77||0.09|
|10SD-73||Pit 1 SW||81.0||123.0||42.0||0.40||1.25||0.09|
|10SD-74||Pit 1 SW||150.0||162.0||12.0||0.58||0.80||0.05|
Drill holes 10SD-66, and 74 are shorter holes drilled from the Saddle to the southwest towards Pit 1 and 10SD-72 and 73 are deeper holes testing below Pit 1. Drill holes SD-66 and 74 intersected scattered, narrow zones of mineralization in the area below northwest wall of Pit 1. 10SD-72 was drilled deep below the south-eastern side of Pit 1 and apart from some narrow intersections in the upper part of the drill hole did not intersect significant mineralization and may have drilled down through what appears to be a highly albitic, late intrusive phase which forms the un-mineralized part of the Saddle zone. 10SD-73 was drilled from the Saddle below the north side of Pit 1 and intersected 174m grading 0.39% Cu, 1.20g/t Ag and 0.08g/t Au, pushing the Copper King mineralized zone further south into the Pit 1 area.
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.
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SOURCE Copper Mountain Mining Corporation