NEWS RELEASE 2007 -13
TSX Trading Symbol: Common Shares – “SRY” CUSIP Number 860838101
Warrants
– “SRY.WT” CUSIP Number 860838119
STINGRAY’S DRILLING AT EL PILAR CONTINUES
TO ENCOUNTER STRONG OXIDIZED COPPER MINERALIZATION
August 22, 2007
– Toronto, Ontario, Canada Peter Mordaunt, CEO and Chairman of Stingray
Copper Inc. (“Stingray”) is pleased to report assay results from 13 additional
drill holes completed at the Company’s El Pilar Copper Property located in Sonora, Mexico.
Work at El Pilar is focused on a definition drilling program designed to
enhance the El Pilar inferred mineral resource of 180 million tonnes grading
0.37% total copper calculated at a cut off of 0.25% total copper (See News
Release 2007-05). Stingray’s present
drill program is methodically intersecting oxidized copper mineralization at El
Pilar by drilling vertical holes to fill in the resource model at 100 meter
centers along its length and across its width. Additionally, the program is
delimiting the margins of the resource as the drilling progresses from north to
south along the east-west drill sections.
Of the 13 holes
reported, several are outside the known inferred resource and encountered
copper which is positive for expanding the resource. Although the copper grades appear lower in
percentage copper than reported by sulphide copper developers and miners, the
capital and operating costs of heap leach solvent extraction and electro
winning (SX_EW) cathode copper can be significantly lower.
Table 1 presents
results from 7 holes drilled to fill in the inferred mineral resource model. These
drill holes continue to confirm the results of the previous drill programs
completed by Noranda Mexico.
It can also be seen that the
mineralization thickens from West to East in the drill hole presentation.
Table 2 presents
6 holes drilled to the Northwest of the inferred mineral resource. These holes
determine the margin of the resource and have now defined additional areas of
copper mineralization for the Company to follow up. Of particular note are the intercepts
of copper mineralization in holes S07-01 and S07-02 on Section 9200N. Drill
holes S07-11,12 & 13 will have to be deepened to test the extent of this
copper mineralization on adjoining Section 9100N.
Upon completion of the fill in drilling Stingray
anticipates updating the El Pilar geological model and resource model calculation.
Table 1: Inferred Mineral
Resource Fill In Drill Results
Section
|
Easting
|
Hole
|
From (m)
|
To (m)
|
Interval (m)
|
Grade (Total Copper %)
|
|
|
|
|
|
|
|
9100N
|
1600
|
S07-14
|
9.5*
|
16
|
6.5
|
0.21
|
|
1800
|
S07-15
|
0*
|
50
|
50
|
0.37
|
|
2000
|
S07-16
|
4*
|
98
|
94
|
0.43
|
|
|
|
|
|
|
|
9000N
|
1700
|
S07-19
|
10
|
18
|
8
|
0.35
|
|
1900
|
S07-20
|
32
|
104
|
72
|
0.47
|
|
2300
|
S07-22
|
78
|
213
|
135
|
0.22
|
|
|
|
148
|
210
|
62
|
0.32
|
|
|
|
|
|
|
|
8900N
|
1700
|
S07-23
|
30
|
36
|
6
|
0.30
|
Table 2: Northwest Drill
Results - Determining Margin of Resource
Section
|
Easting
|
Hole
|
From (m)
|
To (m)
|
Interval (m)
|
Grade (Total Copper %)
|
|
|
|
|
|
|
|
9200N
|
1100
|
S07-01
|
114
|
124
|
10
|
0.30
|
|
1300
|
S07-02
|
120
|
168
|
48
|
0.32
|
|
|
|
|
|
|
|
9100N
|
1200
|
S07-10
|
88
|
168
|
80
|
0.30
|
|
1300
|
S07-11**
|
|
|
|
No Significant Values
|
|
1400
|
S07-12**
|
|
|
|
No Significant Values
|
|
1500
|
S07-13**
|
|
|
|
No Significant Values
|
*top of hole.
**holes to be deepened.
The location of these drill holes
can be viewed at the link below;
http://www.stingraycopper.com/PressReleases/elpilar_drillingmap.pdf
The Company is continuing this
extensive, 25,000 meter fill in drill program at the El Pilar Copper Property,
Sonora, Mexico where 2 drills are drilling HQ core. The purpose of this program
is to reclassify the inferred mineral resource and to explore for additional
resources in the immediate vicinity. All drill core samples are split by the
Company’s staff under the direction of the Company’s geologists and are
delivered for assaying to ALS Chemex, Hermosillo,
Sonora, Mexico.
The Company’s program will incorporate significant metallurgical testing in
preparation of a feasibility study for the El Pilar project which is viewed as
an SX – EW operation (solvent extraction – electro winning).
Peter Mordaunt, P.Geo is the
Qualified Person responsible for the technical content of this release.
Website: www.stingraycopper.com
TSX
Symbol:
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Common
Shares - “SRY”
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Issued:
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58,725,982 common shares
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Warrants
- “SRY.WT”
|
|
20,850,000 warrants
|
|
|
|
|
FOR
FURTHER INFORMATION PLEASE CONTACT:
“Steve
Brunelle”
|
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“Peter Mordaunt”
|
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Steve Brunelle
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Peter Mordaunt
|
Vice
President at (416) 368-6240
|
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CEO
& Chairman
|
Certain Statements presented herein may constitute “forward-looking
statements”. Such forward-looking
statements may include potential mineralization, resources and reserves,
conclusions of prefeasibility and feasibility studies, estimates of future
production, capital and operating costs, prices of metals and other known and
unknown risks. These and other factors
and uncertainties may cause material differences from future results as
expressed or implied by these forward-looking statements. These risks, uncertainties and other factors
include but are not limited to the risks involved in the exploration,
development and mining business.
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