AQM Reports 2010 Achievements and Announces
Latest Zafranal Drill Results-Including 342 metres of 0.55% Cu-First NI 43-101 Compliant
Resource to be Announced
-- AQM completes 74,000m of drilling in 2010
-- First NI 43-101 Compliant Resource for Zafranal project to be announced imminently
-- ZFDDH10-150 drills 125m of 0.86% copper and
0.07g/t gold
-- Step-out holes ZFDDH10-138 and 143 expands
Main Zone mineralization to the South
VANCOUVER,
BC - AQM Copper Inc. (TSX-V:AQM) (BVLAC:AQM) ("AQM" or "the
Company") is pleased to provide results for the remaining 24
diamond drill holes of its 2010 drilling campaign, in addition to a
summary of the year's achievements.
In 2010, AQM successfully expanded the Zafranal Main Zone to 2.8km by 600m and up to 500m
thick including both the supergene blanket and primary mineralization
zones; the Company also identified several satellite zones of
significant copper mineralization within the 25,000 hectare Zafranal project.
After a total of US$18.2M in project
expenditures AQM fulfilled its 50% stake in the Joint Venture with Teck (who originally discovered Zafranal
in 2003). Going forward, Teck and AQM
will fund the project's ongoing development in proportion to their
joint venture interests.
AQM completed a total of 68,500m of RC and
Diamond drilling on the Main Zone and will publish Zafranal's
first NI 43-101 compliant resource estimate imminently. Drilling has
systematically tested the Main Zone porphyry system over a 2.8km strike
length, encountering both secondary and primary copper-gold
mineralization over widths of up to 600m and thicknesses of up to 500m.
AQM also completed 5,500m of RC drilling on
its Sicera Sur and Sicera
Norte satellite prospects. Drilling in Sicera
Norte encountered several intercepts with significant primary copper
mineralization starting near surface. Subsequent detailed mapping
identified a 2.8km x 1.4km alteration zone, which AQM intends to
systematically drill test during 2011. These two targets are
located 6km West and North West, respectively, from the Zafranal main zone.
Juan Villarzu, the
Company's Chairman declared, "Few companies are capable of
executing in one year a program such as the one AQM has performed in
2010 at Zafranal, and as a result of this
effort, we will soon be announcing the first official report regarding
the resources contained in the main zone of the project."
As for 2011, AQM as operator of the joint
venture has proposed a $20M program to continue drilling to expand the
Main Zone towards the east, undertake a scoping study on the project's
development and drill test several other targets identified by company
geologists, including systematic drill testing at Sicera
Norte. Final approval of the 2011 program and budget by the joint
venture is pending.
The year's remaining drill holes reported
herein were aimed at extending the known mineralization of the Main
Zone, in addition to infill drilling and furthering the understanding
of the geological body by drilling East-West oriented holes. Drill
holes ZFDDH10-134, 136, 138, 139, 141, 143, 145, 146, 148 and 153 were
aimed at testing the southern limits of the Main Zone. Of particular
significance were drill holes ZFDDH10-138 and 143 which intercepted
thick supergene mineralization further south than previously
identified. These assays confirm that the zone remains open to the
South along their respective section.
Drill holes ZFDDH10-131, 132, 133, 142, 144
and 151 tested the northern extension of the Main Zone. All of these
drill holes, except ZFDDH10-151, cut potentially economic copper
mineralization at the northern edge of the Main Zone, and confirm AQM�s
geological interpretation of an elongated east-west porphyry system
controlled by regional-scale structural features.
Hole No.
|
From
|
To
|
Interval
|
Cu%
|
Au ppm
|
ZFDDH10-131
|
310
|
336
|
26
|
0.22
|
0.04
|
And
|
358
|
382
|
24
|
0.27
|
0.09
|
And
|
394
|
444
|
50
|
0.22
|
0.06
|
And
|
460
|
500
|
40
|
0.22
|
0.05
|
ZFDDH10-132
|
78.4
|
107.9
|
29.5
|
0.37
|
0.03
|
ZFDDH10-133
|
38.4
|
72
|
33.6
|
0.35
|
0.06
|
And
|
80
|
144
|
64
|
0.43
|
0.03
|
And
|
152
|
187
|
35
|
0.22
|
0.04
|
And
|
200
|
220
|
20
|
0.30
|
0.04
|
And
|
352
|
426
|
74
|
0.36
|
0.08
|
ZFDDH10-134
|
138
|
150
|
12
|
0.33
|
0.03
|
ZFDDH10-135
|
115.8
|
198
|
82.2
|
0.70
|
0.341
|
And
|
218
|
436
|
218
|
0.32
|
0.11
|
ZFDDH10-136
|
No Significant
Results
|
ZFDDH10-137
|
116
|
126.5
|
10.5
|
0.59
|
0.05
|
And
|
166
|
274
|
108
|
0.69
|
0.07
|
Incl.
|
210
|
238
|
28
|
0.88
|
0.08
|
ZFDDH10-138
|
54
|
76
|
22
|
0.51
|
0.16
|
And
|
138
|
189
|
51
|
0.56
|
0.07
|
ZFDDH10-139
|
No Significant
Results
|
ZFDDH10-140
|
84
|
178
|
94
|
0.41
|
0.07
|
And
|
278
|
386
|
108
|
0.26
|
0.06
|
ZFDDH10-141
|
90
|
114
|
24
|
0.56
|
0.05
|
ZFDDH10-142
|
80
|
92
|
12
|
0.32
|
0.02
|
And
|
213.25
|
234
|
20.75
|
0.37
|
0.03
|
And
|
272
|
280
|
8
|
0.85
|
0.23
|
And
|
296
|
318
|
22
|
0.32
|
0.10
|
ZFDDH10-143
|
10
|
44
|
34
|
0.28
|
0.15
|
And
|
120
|
188
|
68
|
0.60
|
0.07
|
Incl.
|
150
|
172
|
22
|
1.12
|
0.12
|
ZFDDH10-144
|
95
|
108
|
13
|
0.31
|
0.02
|
ZFDDH10-145
|
2
|
16
|
14
|
0.31
|
0.11
|
And
|
52.5
|
100
|
47.5
|
0.38
|
0.03
|
ZFDDH10-146
|
83.5
|
137.3
|
53.8
|
0.70
|
0.06
|
Incl.
|
106
|
137.3
|
31.3
|
0.88
|
0.07
|
And
|
154
|
175.22
|
21.2
|
0.81
|
0.07
|
ZFDDH10-147
|
46
|
388
|
342
|
0.55
|
0.06
|
Incl.
|
68
|
117.95
|
49.95
|
1.79
|
0.07
|
ZFDDH10-148
|
138
|
164
|
26
|
0.44
|
0.10
|
ZFDDH10-149
|
74.8
|
95
|
20.2
|
0.54
|
0.08
|
And
|
104.1
|
214.25
|
110.15
|
0.33
|
0.05
|
And
|
248
|
307
|
59
|
0.28
|
0.05
|
And
|
317
|
361
|
44
|
0.27
|
0.07
|
ZFDDH10-150
|
135
|
260
|
125
|
0.86
|
0.07
|
Incl.
|
135
|
160
|
25
|
1.01
|
0.11
|
Incl.
|
233
|
258
|
25
|
1.44
|
0.09
|
And
|
314
|
390
|
76
|
0.35
|
0.12
|
And
|
400
|
426.7
|
26.7
|
0.46
|
0.31
|
And
|
434
|
478.42
|
44.4
|
0.37
|
0.08
|
ZFDDH10-151
|
No Significant
Results
|
ZFDDH10-152
|
29.5
|
54
|
24.5
|
0.68
|
0.01
|
ZFDDH10-153
|
48
|
64
|
16
|
0.33
|
0.02
|
ZFDDH10-154
|
149
|
240
|
91
|
0.78
|
0.15
|
Incl.
|
197.8
|
216
|
18.2
|
1.21
|
0.27
|
And
|
298
|
340
|
42
|
0.39
|
0.08
|
And
|
369.7
|
397.4
|
27.7
|
0.30
|
0.07
|
1 Gold grade cut back to 5 g/t
2 Hole ends in mineralization
|
Drill holes ZFDDH10-140, 147 and 152 were
infill. Drill holes 135, 137, 149, 150 and 154 were drilled in an
east-west orientation and were aimed at improving the geological
knowledge in areas with a complex structural layout.
The Company has established a rigorous QA/QC
program at Zafranal, which includes the
insertion of blanks, duplicates and certified standards into the sample
stream. Core is photographed on site and subsequently sawed in half,
with one half sent for analysis and the other half stored for future
reference and assay verification. RC chips are split twice on site
using a riffle splitter, with 25% of the sample being sent to the
laboratory for assay and the rest stored for future verification
purposes. All Zafranal samples are shipped to
ALS Chemex's sample preparation facility in
the city of Arequipa, where they are crushed and pulverized. Prepared
samples are shipped to ALS Chemex's certified
laboratory in Lima where they are analysed
for gold, copper and multi-element ICP.
Dr. Tom Henricksen,
consultant geologist of the Company and Chief Geologist for AQM Peru,
the Company's Qualified Person for the purposes of NI 43-101, has
approved the information contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Bruce Turner, President and CEO
ABOUT AQM: AQM Copper Inc. (formerly Apoquindo
Minerals) is a Canadian based mineral exploration company developing
copper deposits in South America. Through its wholly owned Peruvian
subsidiary, Minera AQM Peru SAC, the company
is developing the Zafranal Copper-Gold
Porphyry Project located in Southern Peru. Management and directors
have extensive experience working for the world's largest mining Copper
producers. Please refer to the Company's website for further information regarding the
Company and its projects.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES
OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
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