DRILLING
INDICATES A NEW HIGH GRADE ZONE OF MINERALIZATION AT COPPER MOUNTAIN:� INTERSECTS 370 FEET
GRADING 1.05% Cu, 0.28 g/t Au, and 2.35 g/t Ag
Vancouver, B.C., March 3, 2008 – Copper
Mountain Mining Corporation (“CMMC” or the “Company) announces assay results from seven new
drill-holes completed in the eastern and western Pit 2 area of the 100% owned Copper Mountain
project where a major drill program continues. �
A series of drill-holes to the west
of Pit 2 and immediately north of Pit 1 are beginning to define a new zone of
higher grade mineralization that extends for approximately 1000 feet north of Pit 1
and appears to be about 300 to 400
feet wide.� Recent
mapping in Pit1suggests that the Zone may be a fault offset of the Copper Mountain
trend mineralization that was historically mined underground at plus 1% Cu in
the Pit 3 area.� The mineralization sits
under a fault-bounded, westerly-dipping wedge of barren ground.� The Zone has been intersected by the
following drill holes:
Hole ID
|
Interval (ft)
|
Cu %
|
Ag gmt
|
Au gmt
|
Cu EQ*
|
CM07P2-62
|
200
|
0.63
|
1.52
|
0.16
|
0.69
|
CM07P2-67
|
400
|
0.69
|
1.71
|
0.26
|
0.79
|
CM08P2-92
|
370
|
1.05
|
2.35
|
0.28
|
1.15
|
CM08P2-94
|
160
|
0.58
|
1.43
|
0.16
|
0.64
|
CM08P2-94
|
332
|
0.29
|
0.70
|
0.15
|
0.34
|
CM07P1-05
|
84
|
0.67
|
0.71
|
1.71
|
0.19
|
CM07P1-06
|
215
|
0.85
|
1.03
|
4.93
|
1.03
|
The mineralization begins at depths
of about 200 feet
and appears to be raking to the southeast and generally coincides with the
northwest edge of strong, pipe shaped, chargeability anomaly defined by the
recently completed Quantec Titan 24 geophysical survey.� The chargeability anomaly is a carrot shaped
zone approximately 1,200
feet in diameter that extends to depths in excess of 3000 feet.� This new zone of mineralization is situated
just beyond the western corner of the Super-pit designed for the Preliminary
Assessment (see press release November 21, 2007) and appears to be beyond the
revised pit for the Feasibility Study, which is currently under way.� Because the drill-holes in this area are
still relatively widely spaced, it is unlikely that they will form resources in
the Measured or Indicated categories and therefore will not be included in the
estimated resource for the Feasibility Study.�
However, exploration is on-going in this area and the drill data will be
included in subsequent pit designs and will likely result in an increase to the
resource base in the near future.
Significant intersections from drill-holes
announced in this press release are listed in the table below and shown on the
attached map.� http://www.cumtn.com/sitemanager/_pdf_exploration/080303_CMMC_drill_map.pdf
A complete list of
drill results can be found on the company’s website.
Hole ID
|
Location
|
Azi
|
Dip
|
From
|
To
|
Interval
|
Cu %
|
Ag gmt
|
Au gmt
|
Cu EQ*
|
CM08P2-90
|
Pit 2 East
|
|
|
|
|
|
Assays
|
pending
|
|
|
CM08P2-91
|
Pit 2 East
|
129
|
-48
|
45
|
155
|
110
|
0.38
|
1.13
|
0.18
|
0.45
|
CM08P2-91
|
Pit 2 East
|
|
|
290
|
375
|
85
|
0.32
|
1.47
|
0.09
|
0.35
|
CM08P2-92
|
Pit 1 North
|
39
|
-45
|
720
|
1090
|
370
|
1.05
|
2.35
|
0.28
|
1.15
|
CM08P2-93
|
Pit 2 East
|
129
|
-51
|
65
|
180
|
115
|
0.30
|
0.84
|
0.10
|
0.34
|
CM08P2-94
|
Pit 1 North
|
39
|
-51
|
65
|
145
|
80
|
0.29
|
0.57
|
0.06
|
0.31
|
CM08P2-94
|
Pit 1 North
|
|
|
208
|
258
|
50
|
0.26
|
0.96
|
0.06
|
0.28
|
CM08P2-94
|
Pit 1 North
|
|
|
1015
|
1175
|
160
|
0.58
|
1.43
|
0.16
|
0.64
|
CM08P2-94
|
Pit 1 North
|
|
|
1305
|
1637
|
332
|
0.29
|
0.70
|
0.15
|
0.34
|
CM08P2-95
|
Pit 2 West
|
39
|
-46
|
|
|
|
NSR
|
|
|
|
CM08P2-96
|
Pit 2 East
|
309
|
-46
|
65
|
90
|
25
|
0.41
|
0.14
|
0.09
|
0.44
|
CM08P1-07
|
Pit 1 North
|
131
|
-55
|
160
|
320
|
160
|
0.48
|
1.24
|
0.08
|
0.51
|
Additional results include two
drill-holes on the northeast end of Pit 2; CM08P2-91 and 93, which were
successful in extending low-grade mineralization in the eastern end of Pit 2 to
the north.� Drill-hole CM08P1-07 was
drilled from the north side of the lower reaches of Pit 1 and indicates a
continuation of mineralization in Pit 1 to depth, below the north wall.
Results from the current drilling are
significant because they indicate:
� that new zones of high-grade mineralization can
still be discovered in close proximity to areas of historical mining and could
be important additions to the resource base; �
� that mineralization continues beyond current
proposed pit limits which facilitates expansion of the pit to depth; and
� that mineralization remains open to depth in
all three of the historical pit areas.
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.� Drill holes are usually drilled at angles of
-45 or -55 degrees to provide the best indication of the lateral extents of
vertically oriented mineralization.� �
Exploration and
Development Plans for 2008
Copper Mountain is forging ahead
with an aggressive exploration and development plan for the coming year.� Completion of the Feasibility Study for early
in the second quarter is on track, with a production decision to follow shortly
thereafter.� Although the exploration
potential on the property is very high the Company feels it is important to
establish production as soon as possible, and therefore, the design criteria in
the current Feasibility Study is for a 35,000 ton/day operation which would
produce approximately 100 million pounds of copper, 38,000 ounces of gold
and 800,000 ounces
of silver annually.� Continued
exploration success would allow for subsequent project expansions as the
project grows.
Currently, a 30,000 m (100,000 feet)
exploration drill program is underway which is focused on continued expansion
of the resource base through both incremental additions to known resources as
well as the discovery and delineation of new zones of mineralization as the
Company follows up on the chargability anomalies identified in the Titan 24
geophysical survey�� In addition,
geotechnical and condemnation drilling is being carried out in the areas of the
proposed concentrator and crusher sites, as well as waste rock storage and
low-grade stockpile areas for inclusion in the Feasibility Study report. �
�
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 Corporation:
CMMC is a new public BC resource company
managed by an experienced team of professionals with a solid track record of
exploration and development success.� The
Company owns 100% of the 18,000
acre Copper Mountain Project, located 15 km south of the town of Princeton in southern British Columbia� The developed infrastructure, substantial
resource, and extensive historical data base provides an exceptional project.� Copper Mountain Mining Corp. has the goal of
developing the Copper Mountain Project as a major copper and precious metal
producer within the next three years.�
Copper Mountain Mining Corporation’s shares trade on the TSX
Venture Exchange under the symbol CUM.�
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
For
further information, please contact:
Don Graham Director Investor Relations 604 682 2992 ext. 224
Email: don@CuMtn.com
Website: www.CuMtn.com
or B&D Capital 604-685-6465
*Based on metal prices of: Copper US $3.00/lb, Gold at
US $675/Oz, and Silver at US $12/Oz with metallurgical recoveries and smelter
terms being considered equivalent for all metals.
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 statement