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Re: News Release - Thursday, October 11, 2007
Global Copper Intersects 246 meters grading 0.84% Copper
Equivalent in step-out drilling in the Las Guias zone at
Relincho, Chile.
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News Release: 07-09
Vancouver, British Columbia - Global Copper Corp. ("Global") is pleased
to announce results from 11 additional holes in the sulphide drilling
program at its Relincho copper-molybdenum project in Chile. The holes
were all drilled in the Las Guias area. Results are highlighted by
step-out hole RG06-202 that intersected 246 meters grading 0.38% copper
and 0.051% molybdenum (0.85% copper equivalent**) including 34 meters
grading 0.88% copper and 0.117% molybdenum (1.50% copper equivalent**).
Hole RG 06-202 extends the Las Guias zone to the south at depth. The
holes represents a 50 meters step-out to the south of the area between
holes RG 06-196 (reported below) and RG 06-189 which intersected 255
meters from 364 meters grading 0.67% copper and 0.057% molybdenum
(1.01% copper equivalent**) including 26 meters from 574 meters grading
1.46% copper and 0.125% molybdenum (2.22% copper equivalent**).
These results show that there is continuity of higher grade copper and
molybdenum mineralization at depth at Las Guias. Further step-out
drilling is planned to investigate the size and extent of this zone of
higher grade mineralization and to determine if it continues southeast
towards the previously drilled Marja zone.
To date, 62 holes totaling 30,727 meters have been completed in the
sulphide drill program. In June a third rig was mobilized to the
project and the program is now forecast to continue until at least
November 2007. On completion of the drill program the current NI 43-101
sulphide mineral resource estimate will be updated to include the
results of the sulphide drill program.
The results from the latest 11 drill holes are shown in the table
below:
View Table:
http://www.globalcoppercorp.com/i/misc/2007-10-11_NRT.gif
* Diamond drill holes have been drilled from the bottom of previously
drilled RC holes (pre-collars). For that reason the number of the
pre-collar is not the actual order in which these holes were drilled as
part of the sulphide program. The first column indicates the sequence
in which the sulphide holes were drilled.
**Copper equivalent is calculated for primary intervals using
US$1.00/lb Cu and US$6.00/lb Mo and is not adjusted for metallurgical
recoveries as these remain uncertain. The formula used is as follows:
CuEQ = Cu% + Mo% x 6)
The technical reports for the previously delineated oxide and sulphide
resource estimates can be viewed on both the Global website at
www.globalcoppercorp.com and SEDAR at www.sedar.com.
View Map:
http://www.globalcoppercorp.com/i/maps/2007-10-11_NRM.gif
Leo Hathaway, P.Geo., is the Qualified Person as defined by National
Instrument 43-101 for the Relincho Project. The quality
assurance/quality control program is monitored by independent
consultant Dr. Bruce M. Davis, Chief Geostatistician for Norwest
Corporation and managed on site by Patricio Valenzuela, a Chilean
geologist with over 24 years of experience. Logging and sampling are
completed at Global's secure facility located at the project. The
drill cores are mechanically split on site and samples securely
transported to the ACME's facilities in Santiago, Chile for sample
preparation and analysis. Total copper content is determined by
three-acid digestion with atomic absorption finish. Global inserts
standards, blanks and duplicates selected on a random basis into the
sample stream and sends 5% of the sample pulps to check laboratories in
Santiago, Chile.
GLOBAL COPPER CORP
Signed: "David Strang"
David Strang, President & CEO
For further information contact:
David Strang, President & CEO
dstrang@globalcoppercorp.com
tel: + 604 687 0407
fax: + 604 687 7041
CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release
contains "forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities legislation. Forward-looking statements include,
but are not limited to, statements with respect to the future price of
gold, silver, copper and molybdenum, the timing of exploration
activities, the estimation of mineral reserves and mineral resources,
the results of drilling, estimated future capital and operating costs,
future stripping ratios, projected mineral recovery rates and Global
Copper's commitment to, and plans for developing any of its projects.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "can", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Global Copper to be materially different
from those expressed or implied by such forward-looking statements,
including but not limited to: risks related to the exploration and
potential development of the Company's projects, risks related to
international operations, the actual results of current exploration
activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, future prices of gold,
silver, copper and molybdenum, as well as those factors discussed in
the sections relating to risk factors of our business filed in Global
Copper's required securities filings on SEDAR. Although Global Copper
has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results to be
materially different from those anticipated, described, estimated,
assessed or intended.
There can be no assurance that any forward-looking statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
Global Copper does not undertake to update any forward-looking
statements that are incorporated by reference herein, except in
accordance with applicable securities laws.
View News Release in PDF Format:
http://www.globalcoppercorp.com/i/pdf/2007-10-11_NR.pdf
445 KB in size, approx. 1 minute, 24 seconds to download at 56.6Kbps
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Copyright (c) 2007 GLOBAL COPPER CORP. (GLQ) All rights reserved. For
more information visit our website at http://www.globalcoppercorp.com/
or send mailto:info@globalcoppercorp.com
Message sent on Thu Oct 11, 2007 at 11:19:40 AM Pacific Time
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