 |
Copper Mountain Mining Corporation
Suite 584, 885 Dunsmuir Street
Vancouver, BC V6C 1N5
Telephone:
(604) 689-0489
Facsimile: (604) 681-5910
Web Site: www.CuMtn.com
|
MINERALIZED ZONES CONTINUE TO BE EXTENDED AT COPPER MOUNTAIN
Vancouver, B.C., August 14, 2007 – Copper Mountain Mining
Corporation (“CMMC” or the “Company) announces results from eleven additional drill-holes
completed in the Pit 2 area of the 100% owned Copper Mountain project. Key results from the drilling within and peripheral to Pit 2
are:
· Mineralization extends for at least
700 feet below the current pit bottom and remains open to depth at both the eastern and western ends
of the pit area, with one drill hole intersecting 272 feet of .63% CU, 0.32 g/t Au, and 1.88 g/t
Ag;
· Mineralization extends to the north,
and west-southwest beyond the current pit area and locally to the south. (the potential for eastern
and north-eastern extensions to the pit have yet to be tested)
· Gold and silver grades in the Pit 2
area are as anticipated and after factoring in metallurgical recoveries are likely to contribute 12%
to the concentrate value as was the historical norm.
Jim O’Rourke, President of the
Company commented, “the Company is very excited that these new drill results from the Pit 2
area clearly show that the known mineralization continues at depth and at grades that are consistent
with what was achieved historically at this mine site.
The next step is to incorporate these results and prior drill results into an interim global
43-101 resource for the property which has been contracted with an independent
consultant.”
To date, results from a total of 84 drill-holes
have been released, including those contained herein, and these results will be combined with the
historical data for an independent 43-101 compliant resource estimation, currently in progress and
expected to be completed shortly. The drilling in the
Pit 2 area has three objectives: 1) to assist in validating historical drill data; 2) to provide
additional information at depth and in areas of low drill density and increase resource
classification; and 3) to provide better controls on the location of barren, post-mineralization
dykes. Three dimensional modelling of these dykes is
important for both resource estimation and mine planning.
Holes have been drilled from accessible locations on various benches within the pit and from
outside the pit walls.
Significant intersections from drill-holes
announced in this press release are listed in the table below and shown on the attached map. A complete list of drill results can be found on the
company’s website.
|
Hole
ID
|
Location
|
Total Length
|
Azi
|
Dip
|
From (ft)
|
To (ft)
|
Length
|
Cu%
|
Au g/t
|
Ag g/t
|
|
P207-35
|
Pit 2 East
End
|
472
|
143
|
-45
|
|
|
|
NSR
|
|
|
|
P207-36
|
Pit 2 East
End
|
394.3
|
140
|
-51
|
125
|
175
|
50
|
0.32
|
0.19
|
1.24
|
|
|
|
|
|
|
275
|
329
|
54
|
0.36
|
0.17
|
1.17
|
|
P207-37
|
Pit 2 East
End
|
620
|
319
|
-55
|
60
|
160
|
100
|
0.90
|
0.30
|
2.52
|
|
P207-38
|
Pit 2 East
End
|
426.4
|
40
|
-45
|
20
|
50
|
30
|
0.99
|
0.25
|
2.47
|
|
|
|
|
|
|
110
|
130
|
20
|
0.96
|
0.26
|
2.83
|
|
P207-39
|
Pit 2 East
End
|
1283
|
39
|
-55
|
630
|
640
|
10
|
0.82
|
0.20
|
1.82
|
|
|
|
|
|
|
1005
|
1045
|
40
|
1.06
|
0.54
|
2.20
|
|
P207-40
|
Pit 2 East
End
|
1199
|
90
|
-48
|
235
|
535
|
242.5
|
0.38
|
0.10
|
1.38
|
|
|
|
|
|
|
599
|
634.5
|
35.5
|
0.30
|
0.18
|
1.36
|
|
|
|
|
|
|
993
|
1090
|
97
|
0.55
|
0.22
|
2.35
|
|
|
|
|
|
|
1115
|
1198.5
|
69.5
|
0.3
|
0.17
|
1.34
|
|
P207-41
|
Pit 2 West Wall
|
1233
|
39
|
-45
|
180
|
198
|
18
|
0.34
|
0.07
|
1.08
|
|
|
|
|
|
|
1060
|
1095
|
35
|
0.34
|
0.14
|
1.14
|
|
|
|
|
|
|
1167
|
1202
|
35
|
0.28
|
0.11
|
0.97
|
|
P207-42
|
Pit 2 East
End
|
699
|
318
|
-51
|
48.7
|
175
|
126.3
|
0.32
|
0.17
|
1.20
|
|
|
|
|
|
|
205
|
230
|
25
|
0.76
|
0.22
|
2.38
|
|
|
|
|
|
|
305
|
330
|
25
|
0.28
|
0.08
|
2.52
|
|
P207-43
|
Pit 2 East
End
|
900
|
228
|
-45
|
39.4
|
59
|
19.6
|
0.33
|
0.09
|
0.77
|
|
|
|
|
|
|
211.6
|
305
|
93.1
|
0.40
|
0.20
|
1.41
|
|
|
|
|
|
|
334.6
|
606.8
|
272.2
|
0.63
|
0.32
|
1.88
|
|
P207-44
|
Pit 2 West Wall
|
1297
|
39
|
-45
|
1260
|
1275
|
15
|
0.76
|
0.27
|
1.63
|
|
P207-45
|
Pit 2 East
End
|
1049.6
|
79
|
-47
|
206.6
|
223
|
16.4
|
0.30
|
0.21
|
1.45
|
|
|
|
|
|
|
246
|
285.4
|
39.4
|
0.27
|
0.13
|
1.51
|
Due to an extensive historical drill database all measurements on the project are in imperial
units rather than metric.
Most of the barren parts of the drill-holes within
the Pit boundaries are due to barren, Tertiary-aged, felsic dykes which are north-south trending
with steep, but variable, dips. The detailed definition
of the dykes is a departure from previous work where the dykes were assumed to be simply
vertical.
The 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.
Quality Assurance
The 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 geochemical analysis of copper with all values of greater than 1000 ppm copper
being re-analysed by assay methods for copper, gold and silver. 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 Corp.:
CMMC is a new public BC resource company. The Company owns 100% of Similco Mines Ltd which holds
the mineral claims and crown grants over the 18,000 acre Similco Mine site, located 15 km south of
the town of Princeton in southern British Columbia.
Copper Mountain Mining Corp. has the goal of verifying and expanding the historical resources
of the Copper Mountain project, as documented in a 43-101 technical report recently filled on
SEDAR. Additional information is available on the Company’s web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
“Peter Holbek”
Peter
Holbek
VP
Exploration
Contact Don Graham Director Investor Relations 604 682 2992 ext. 224 for
further information.
Or
B&D Capital 604-685-6465
Note: 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 statements.
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