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Stingray Copper Inc.

Publié le 11 octobre 2007

Drill Results - October 11, 2,007

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Mots clés associés :   Canada | Copper | G Mexico |
 
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Stingray Resources Inc.
 

NEWS RELEASE      2007 -15

 

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

                                                Warrants – “SRY.WT”  CUSIP Number 860838119

 

 

STINGRAY CONTINUES TO DEFINE COPPER  AT EL PILAR

 

October 11, 2007 – Toronto, Ontario, Canada Peter Mordaunt, CEO and Chairman of Stingray Copper Inc. (“Stingray”) is pleased to report the results of 7 more drill holes from the El Pilar Copper Property located in Sonora, Mexico. Stingray’s current drilling is 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).

 

The program of definition drilling is continuing with a third drill that has been added in the past two weeks. The drilling 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. The mineralization occurs in a flat lying to gently dipping horizon and copper intervals reflect approximate true widths. The drilling is also delimiting the margins of the resource as the drilling progresses from north to south along the east-west drill sections.

 

  

Table 1:  Inferred Mineral Resource Fill In Drill Results

 

Section

Easting

Hole

From (m)

To (m)

Interval (m) *

Grade (Total Copper %)

 

 

 

 

 

 

 

8900N

2100

S07-27

134

202.4*

68.4

0.32

 

2200

S07-28

180

224

44

0.34

 

 

 

 

 

 

 

8800N

1900

S07-33

82

186

104

0.40

 

2100

S07-34

168

246

78

0.30

 

 

   or  

198

246

48

0.35

 

2300

S07-35

228

246

18

0.23

 

 

 

 

 

 

 

8700N

1800

S07-40

86

114.5**

28.5

0.30

 

 

S07-40A

84

190

106

0.35

 

*The drill hole ended in copper mineralization.                     **The drill hole was lost at this depth and subsequently redrilled.

 

 

Including these diamond drill holes, Stingray has now reported 37 holes, drilled on 6 drill sections, which are posted at the Company’s website and a map of the hole locations can be found at the link below or at the Company’s website;

 

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

 

Of the 7 holes reported above in Table 1, holes S07-27, 28, 33, 34, 40 and 40A continue to confirm the results of previous drill programs, demonstrating wide intercepts of oxidized copper mineralization. Drill hole S07-35 was drilled outside the known mineral resource to define the eastern limit of the mineralization on section 8800N.

 

Stingray is working to reclassify the inferred mineral resource and develop the El Pilar as an open pit, heap leach, solvent extraction–electrowinning (SX-EW) copper mine. The oxidized copper mineralization as reported may appear lower in percentage copper than reported by sulphide copper developers and miners, however the capital and operating costs of heap leach, SX-EW operations are significantly lower. Additionally, such SX-EW copper operations produce a cathode copper product and not an intermediate concentrate that must be treated by a smelter and refiner.

 

The Company is continuing an extensive, 25,000 meter fill in drill program at the El Pilar Copper Property where 3 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 using drill core material obtained in the current drill program in preparation of a feasibility study for the El Pilar project.

 

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.

 

“Stingray Copper Inc.”

40 University Avenue, Suite 605, Toronto, Ontario  M5J 1T1

Telephone:  (416) 368-6240    Fax:  (416) 368-7141

E-Mail:  info@stingraycopper.com

 

 
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Stingray Copper Inc.

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CODE : SRY.TO
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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.

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14/02/2008(El Pilar)STARTER PIT AREA DRILLING CONFIRMS COPPER GRADES AND THICKNE...
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04/01/2010Mercator and Stingray Complete Business Combination
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26/10/2009and Mercator Sign Arrangement Agreement
02/10/2009and Mercator Minerals Announce Business Comb
29/09/2009SRY: Canaccord Adams Research Report
04/06/2009 Haywood Securities Research Report
26/05/2009Invitation from Stingray Copper
09/02/2009SRY Study on Schedule: Metallurgical Update
28/01/2009Haywood Securities Research Report
26/11/2008Corporate Update; Strong Financial Condition Feasib
17/09/2008SRY Canaccord Adams Research Document
07/02/2008Stingray Copper Inc.
11/10/2007 Drill Results - October 11, 2,007
21/09/2007Copper Drill Results Continue: 7 More Holes From El Pilar Co...
22/08/2007Additional Drill Results from El Pilar
02/08/2007Drill Results, El Pilar Copper, Mexico
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