Press release from CNW Group
Drilling below Pit 3 intersects 94m grading 0.72% Cu, 2.77g/t Ag and 0.11g/t Au.
Thursday, January 13, 2011
Drilling below Pit 3 intersects 94m grading 0.72% Cu, 2.77g/t Ag and 0.11g/t Au.08:30 EST Thursday, January 13, 2011Web Site: www.CuMtn.comTSX: CUMVANCOUVER, Jan. 13 /CNW/ - Copper Mountain Mining Corporation ("CMMC" or the "Company") announces assay results from 5 diamond drill-holes completed below Pit 3 and in the Saddle Zone of the Copper Mountain project. Two deep holes (>1,000m)were completed below the Pit 3 areaand three holes are in the Saddle Zone.An additional twelve holes have been drilled from the Saddle zone, of which six are deep, targeting geophysical anomalies and depth extensions to mineralization below the planned super-pit. Splitting and assaying of this drill core is on-going.Pit 3 Area:Deep drilling below Pit 3 was designed to follow up on the 2008 drill results in hole 08P3-08 which intersected 292m grading 0.55% Cu, 2.23g/t Ag and 0.14g/t Au, an interval which was made up of a number of higher grade intervals including, 98m grading 1.31% Cu, 5.53g/t Ag and 0.34g/t Au. The 08P3-08 intersection occurs approximately 150m below the bottom of the planned Super-pit, and passed through the upper part of a large, deep seated Titan-24 chargeability anomaly. Drill-hole 10P3-60 was recently drilled from a collar just to the south of the 08P3-08 collar with a slightly steeper dip and angled in a more southerly direction, resulting in sub-parallel hole to 08P3-08 but 120m deeper and 100m further to the south. Mineralized zones within 10P3-60 (see table below) correlated well with those in 08P3-08 but were of lower grades and narrower widths. Drill-hole 10P3-61 was drilled from the west side of Pit 3 to form a scissor section with 10P3-60 and test the lower part of the deep chargeability anomaly (see attached figure 1). 10P3-61 intersected 94.0m grading 0.72% Cu, 2.77g/t Ag and 0.11g/t Au, approximately 80m below the historical underground workings and immediately below the currently designed Super-pit. This high-grade intersection is likely part of the same zone that hosts the 98m of 1.31% Cu in 08P3-08, which is situated approximately 130m deeper and 180m further to the north. Drill core between 459m and 1,011m in hole 10P3-61 did not encounter significant mineralization and more drilling will be required to understand the relationship between geology, mineralization and geophysical results in the large (700m long by 400m wide by 400m deep) chargeability anomaly that underlies the Pit 3 area.Pit 3 Area: Significant Drill IntersectionsHole_IDFrom (m)To (m)Interval (m)Cu_%Ag g/tAu g/t10P3-6033435218.00.251.020.0110P3-6037940122.00.401.030.0310P3-6086088121.00.371.900.2710P3-6094095212.00.986.830.4910P3-601013104027.00.261.310.3410P3-6136545994.00.722.770.11Saddle Zone: The Saddle Zone is the ridge separating Pit 2 from Pits 1 and 3. Current drilling targeted the part of the Saddle Zone between Pits 2 and 1 that is not included in the current mine plan because of insufficient drill information. Drill holes 10SD-60 and 10SD-61 intersected mineralization (see table below) within an area classified as waste and consequently excluded from the mine plan. Delineation of ore within this area of the Saddle Zone, and inclusion into the mine plan provides additional resources and has the potential to facilitate deepening of the Super-pit. Drill-hole 10SD-62 returned a near surface intersection that will upgrade the reserves within the current mine plan area. Continued successful drilling on the property will result in incremental improvements to the current mine plan and/or increased mine life.Saddle Zone: Significant drill intersectionsHole_IDFrom (m)To (m)Interval (m)Cu_%Ag g/tAu g/t10SD-6063.081.018.00.240.580.0510SD-60191.6214.022.40.902.650.3910SD-6169.0162.393.30.451.100.1310SD-627.025.418.40.430.960.26The 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. Quality AssuranceThe 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) and 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 ofCOPPER MOUNTAIN MINING CORPORATION "Peter Holbek"Peter HolbekVP ExplorationNote: 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 maps associated with this release, please see:http://files.newswire.ca/596/CUM_Map.pdfFor further information: Galina Meleger, Corporate Communications, 604-682-2992 ext.224, Email: Galina.meleger@CuMtn.com orWebsite: www.CuMtn.com