Stingray Copper Inc.

Published : September 21st, 2007

Copper Drill Results Continue: 7 More Holes From El Pilar Copper Property

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Keywords :   Canada | Commercial Paper | Copper | G Mexico | Mexico |

NEWS RELEASE      2007 -14

 

TSX Trading Symbol:   Common Shares – “SRY”  CUSIP Number 860838101

                                                Warrants – “SRY.WT”  CUSIP Number 860838119

 

STINGRAY COPPER DRILL RESULTS CONTINUE:

7 MORE HOLES FROM EL PILAR COPPER PROPERTY

 

September 21, 2007 – Toronto, Ontario, Canada Peter Mordaunt, CEO and Chairman of Stingray Copper Inc. (“Stingray”) is pleased to report the results of 7 additional drill holes from the 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. The location of these drill holes can be viewed at the link below or at the Company’s website.

 

http://www.stingraycopper.com/PressReleases/elpilar_drillingmap.pdf

 

Of the 7 holes reported in Table 1 below, holes S07-21, 24, 25, and S07-26 continue to confirm the results of previous drill programs, demonstrating wide intercepts of oxidized copper mineralization. Drill holes S07-29, 30 and 31 have been drilled to determine the eastern extent of the copper mineralization on Section 8900N and are located outside the known inferred mineral resource. These 3 holes define the extent of the copper mineralization as the conglomerate host dips deeper to the east. 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 are significantly lower.

 

Table 1:  Inferred Mineral Resource Fill In Drill Results

 

Section

Easting

Hole

From (m)

To (m)

Interval (m) *

Grade (Total Copper %)

 

 

 

 

 

 

 

9000N

2100

S07-21

58

164

106

0.35

 

 

 

 

 

 

 

8900N

1800

S07-24

14

74

60

0.36

 

1900

S07-25

48

136

88

0.45

 

2000

S07-26

66

174

108

0.33

 

2300

S07-29

112

242

130

0.16

 

 

Or

194

238

44

0.23

 

2400

S07-30

102

168

66

0.10

 

2500

S07-31

 

 

 

No Significant Values

 

 

 

 

 

 

 

 

*The mineralization occurs in a flat-lying to gently dipping horizon and intervals reflect approximate true widths.

 

The Company is continuing an extensive, 25,000 meter fill in drill program at the El Pilar Copper Property 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).

 

Stingray has recently filed its second quarter financial statements for the six months ended July 31, 2007 at SEDAR and at the Company’s website. Stingray reports that its working capital of $26 million is held primarily in cash and cashable Guaranteed Investment Certificates issued by the CIBC. The Company does not hold any Asset Backed Commercial Paper.

 

 

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.

 

.
Data and Statistics for these countries : Canada | Mexico | All
Gold and Silver Prices for these countries : Canada | Mexico | All

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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4/23/2008(El Pilar)21 METWORK DRILL HOLE RESULTS: DELIVERED TO METCON
4/16/2008(El Pilar)IN FILL DRILLING RESULTS CONTINUE - EL PILAR
4/7/2008(El Pilar)STINGRAY CONSULTANTS FULL SPEED AHEAD ON FEASIBILITY STUDY A...
3/11/2008(El Pilar)Confirmation of Oxide Copper Results
2/14/2008(El Pilar)STARTER PIT AREA DRILLING CONFIRMS COPPER GRADES AND THICKNE...
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9/21/2007Copper Drill Results Continue: 7 More Holes From El Pilar Co...
8/22/2007Additional Drill Results from El Pilar
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