Stingray Copper Inc.

Published : August 22nd, 2007

Additional Drill Results from El Pilar

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Keywords :   Canada | Copper | G Mexico | Mexico |
 
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Stingray Resources Inc.
 
 

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:

Common Shares - “SRY”

Issued:

58,725,982 common shares

 

Warrants - “SRY.WT”

 

20,850,000 warrants

 

 

 

 

 

FOR FURTHER INFORMATION PLEASE CONTACT:

 

“Steve Brunelle”

 

“Peter Mordaunt”

 

 

 

Steve Brunelle

 

Peter Mordaunt

Vice President at (416) 368-6240

 

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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Stingray Copper Inc.

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Stingray is a copper exploration company based in Canada.

Its main asset in development is EL PILAR in Mexico and its main exploration property is ELEPHANT 8 in Mexico.

Stingray is listed in Canada and in United States of America. Its market capitalisation is CA$ 36.9 millions as of today (US$ 36.7 millions, € 25.5 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.19, and its lowest recent point on November 28, 2008 at CA$ 0.13.

Stingray has 60 556 000 shares outstanding.

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