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 $26 million is held primarily in cash and cashable Guaranteed Investment Certificates
issued by the CIBC. The Company does not hold any Asset Backed Commercial Paper.
Peter Mordaunt, P.Geo is the
Qualified Person responsible for the technical content of this release.
Website: www.stingraycopper.com
TSX
Symbol:
|
Common
Shares - “SRY”
|
Issued:
|
58,725,982 common shares
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Warrants
- “SRY.WT”
|
|
20,850,000 warrants
|
|
|
|
|
FOR
FURTHER INFORMATION PLEASE CONTACT:
“Steve
Brunelle”
|
|
“Peter Mordaunt”
|
|
|
|
Steve Brunelle
|
|
Peter Mordaunt
|
Vice
President at (416) 368-6240
|
|
CEO
& Chairman
|
Certain Statements presented herein may constitute “forward-looking
statements”. Such forward-looking
statements may include potential mineralization, resources and reserves,
conclusions of prefeasibility and feasibility studies, estimates of future
production, capital and operating costs, prices of metals and other known and
unknown risks. These and other factors
and uncertainties may cause material differences from future results as
expressed or implied by these forward-looking statements. These risks, uncertainties and other factors
include but are not limited to the risks involved in the exploration,
development and mining business.
.
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Stingray Copper Inc.
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EN DÉVELOPPEMENT |
CODE : SRY.TO |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Stingray est une société d’exploration minière de cuivre basée au Canada. Son principal projet en développement est EL PILAR au Mexique et son principal projet en exploration est ELEPHANT 8 au Mexique. Stingray est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 36,9 millions CA$ (36,7 millions US$, 25,5 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 1,19 CA$, et son plus bas niveau récent le 28 novembre 2008 à 0,13 CA$. Stingray possède 60 556 000 actions en circulation. |