Copper Mountain Mining
Corporation
Suite 550, 800 West Pender
Street
Vancouver, BC
V6C 2V6
Telephone: (604) 682-2992
Facsimile: (604)
681-5910
Web Site: www.CuMtn.com
TSX.V:
CUM
NEW
MINERALIZED ZONES INTERSECTED AT COPPER MOUNTAIN
Vancouver, B.C., July 12, 2007 – Copper Mountain Mining
Corporation (“CMMC” or the “Company) announces results
from nine additional drill-holes completed in the Pit 2 area of the 100% owned Copper Mountain
project, located 15 km south of the town of Princeton in southern British Columbia. The Phase I drill program, which has been underway since
mid-January, is designed to help validate the very large historical drill database (more than
400,000 m of drilling in nearly 7,000 drill holes) and to expand areas of mineralization,
particularly in areas between and around the existing open pits. The Phase I drilling at Copper mountain now totals 25,000 meters in 75 drill holes
of the planned 51,000 meter program which is the second largest exploration drill program in BC this
year. Highlights of this press release
include:
-
a new mineralized zone between Pit 1
and Pit 2 graded 2.96% copper over 51
feet;
-
mineralization within and beyond the south-western wall of Pit 2 extends to depths greater than 700 feet below the current pit
bottom; and
-
narrow mineralized zones extend beyond Pit
walls on the north side of Pit 2, indicating
potential for increased resources and lower strip ratios during ‘push-backs’
for pit expansion.
Robert Young, geological advisor to the
Company, states “The continuing positive results from the Phase I program underscore the
potential for intersecting additional mineralization as the drills step out from the existing pit
limits and at depth.” Drilling is currently being conducted in two areas of the 18,000 acre
property: 1) the saddle zone, (see attached Property Map Layout) and 2) the Pit 2 area, which
includes the north, east, west and downward extensions to the pit. The current results reported in this release come from three areas; the
north-central and western areas of Pit 2 and an exploration area about 1 km to the northwest of Pit
2, referred to as the conveyor zone.
Drill-holes P207-26 to 28 represents
100 and 200 foot step outs from the pit edge located north of the central area of Pit 2. Intersections in the these holes are likely extensions of
vertical, northerly trending, structurally controlled zones that are typical of the mineralization
in central part of Pit 2. The extensions of these zones
north of the existing Pit indicates potential for significant resource expansion and a lowering of
the strip ratio of ‘push-backs’ during pit expansion.
Drill-holes P207-29 to 31 were drilled
below the historical conveyor system, approximately 1 km northwest of Pit 2, testing for
north-easterly trending mineralization between the Ingerbelle and Alabama deposits. Alteration in these holes is typical of areas proximal to
mineralization.
Drill-holes P207-32 to 34 are spaced
200 feet apart and were collared between 400 and 500 feet west-southwest of the western rim of Pit
2, oriented to drill north-easterly back towards Pit 2.
Mineralized zones were intersected well outside
of the pit area and appear to increase in both grade and thickness from north to south (saddle zone
- towards Pit 1 and Pit 3). Mineralization also occurs
below the Pit walls and extends to significant depths below the current pit bottom. Drill-hole P207-34 intersected mineralization at depths of
greater than 1100 feet – and is the deepest drill hole in the Pit 2 area to date and indicates
significant vertical extent to the mineralization.
Significant intersections from
drill-holes announced in this press release are listed in the table below. A complete list of drill results can be found on the company’s
website.
|
Drill-hole
|
Location
|
From
(feet)
|
To
(feet)
|
Thickness
|
Cu%
|
|
P207-26
|
Pit 2
North Wall
|
81
|
105
|
24
|
0.28
|
|
|
|
200
|
233
|
33
|
0.34
|
|
|
|
353
|
412
|
59
|
0.58
|
|
P207-27
|
Pit 2
North Wall
|
320
|
543
|
233
|
0.43
|
|
P207-28
|
“
|
57
|
117
|
60
|
0.36
|
|
|
|
350
|
421
|
71
|
0.31
|
|
|
|
500
|
525
|
25
|
0.88
|
|
|
|
556
|
605
|
49
|
0.45
|
|
P207-29
|
Conveyor
|
|
|
|
NSR
|
|
P207-30
|
“
|
345
|
355
|
10
|
0.83
|
|
P207-31
|
“
|
Hole
abandoned in fault zone.
|
|
P207-32
|
Pit 2
West Wall
|
30
|
50
|
20
|
0.49
|
|
|
|
433
|
453
|
20
|
0.38
|
|
|
|
550
|
630
|
80
|
0.52
|
|
|
|
985
|
1030
|
45
|
0.45
|
|
|
|
1085
|
1300
|
215
|
0.37
|
|
P207-33
|
Pit 2
West Wall
|
155
|
289
|
134
|
0.30
|
|
|
|
439
|
474
|
39
|
0.33
|
|
P207-34
|
Pit 2
West Wall
|
195
|
246
|
51
|
2.96
|
|
|
|
333
|
435
|
102
|
0.45
|
|
|
|
1510
|
1675
|
165
|
0.39
|
Due to an extensive historical drill database all measurements on the
project are in imperial units rather than metric.
Previous drilling in the western end of Pit 2, from within the pit also
confirmed the extension of mineralization to depth below the pit bottom and below the pit walls.
The current holes have greatly expanded the mineralized
area.
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 site. 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 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
or B&D Capital at 604-685-6465 for further
information.
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
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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