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Northern Peru to drill new silver-gold-zinc prospect at Galeno
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Vancouver, British Columbia -- Northern Peru Copper Corp. is pleased to
announce that it has discovered a new silver-gold-zinc-lead prospect on
its Galeno property in Peru. The Company is not aware of any previous
drilling on the prospect and intends to drill test it during August.
The prospect is located on a regional structure that passes through the
Hilorico gold deposit, 1.5 kilometers to the southwest, and the Galeno
copper deposit, 3.0 kilometers to the west-southwest. Prospecting of
the Company's claims initially identified the area of small-scale
historic mine workings and surface mapping, rock chip sampling and
ground geophysics followed. Mineralization at surface occurs in
sulphide replacement bodies and epithermal veins that are hosted in
limestones and minor intrusive dikes.
Seventy nine surface rock chip grab samples have been taken at the
prospect over an area of approximately 750 meters in diameter, focussed
on the historic mine workings. Highlights of the sampling include a
grab sample from a jasperoid outcrop returning 1,210 gram/tonne silver
with 3.1 gram/tonne gold and a grab sample from an altered volcanic
outcrop assaying 471 gram/tonne silver, 2.1 gram/tonne gold and 6.9%
zinc. The samples averaged 66ppm silver, 194ppb gold, 0.33% zinc,
including results below the detection limit for these elements. Due to
poor exposure any true width of mineralization cannot be determined.
Processed data from an induced polarization survey has identified a
strong chargeability anomaly of 21 mrads which is approximately
circular in plan view and has a diameter of 150 meters at a depth of
100 meters, widening to 250 meters diameter at a depth of 200 meters.
The anomaly is open to the southeast and underlies the area of historic
mine workings.
Northern Peru views as highly prospective the prospect's structural
setting and the combination of historic workings with high grade silver
plus gold and zinc at surface, overlying a strong chargeability anomaly
which widens to depth.
In addition to the drilling at the new prospect, the Company also plans
to imminently drill test deep porphyry-related base and gold metal
targets in the Hilorico area.
Northern Peru reports significant advances on the Galeno Project
feasibility study. Most notably the Company has completed a 20,500
meter infill drilling program which will enable the estimation of a NI
43-101 Measured Resource for the proposed starter pit. In addition, a
1,150 meter metallurgical drilling program has been completed and the
metallurgical testing program is scheduled for completion in September
by SGS Mineral Services of Santiago. Engineering work for pit slope
design, pit dewatering, water supply, geotechnical siting, power,
concentrate transport and the port facility is in progress. Management
plans and baseline studies for the Environmental and Social Impact
Analysis are ongoing. Concentrate marketing alternatives are being
developed and discussions with smelters and metals traders are
advancing well.
Leo Hathaway P.Geo., VP Exploration, is the Qualified Person for the
Galeno Project and has reviewed the contents of this news release.
Jeff O'Toole, a geologist with over 25 years of experience is
supervising the quality control and quality assurance program on site.
The samples are transported to the ALS Chemex facility in Lima for
sample preparation and analysis. Northern Peru 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 Vancouver.
NORTHERN PERU COPPER CORP
Signed: "Marshall Koval"
Marshall Koval, CEO & President
For further information contact:
David Strang, VP Corporate Development
dstrang@northernperucopper.com
tel: + 604 687 0407
fax: + 604 687 7041
CAUTION REGARDING FORWARD LOOKING STATEMENTS: Safe Harbor Statement
under the United States Private Securities Litigation Reform Act of
1995: Except for the statements of historical fact contained herein,
the information presented constitutes "forward-looking statements"
within the meaning of the Private Securities Act of 1995. Such
forward-looking statements, including but not limited to those with
respect to the price of copper, gold and molybdenum, the timing and
amount of future production, metallurgical recoveries, costs of
production, reserve and resource determination and reserve conversion
rates, involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievement of the
Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking
statements. Such factors include, among others, risks relating to the
integration of acquisitions, risk relating to international operations,
risks relating to joint-venture operations, the actual results of
current exploration activities, conclusions of economic evaluations,
changes in project and exploration parameters as plans continue to be
refined, future prices of copper, gold and molybdenum, as well as those
factors discussed in the section entitled "Risk Factors" in the Form
20-F as on file with the Securities and Exchange Commission in
Washington, D.C. Although the Company has attempted to identify
important factors that could cause actual results to differ materially,
there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such 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.
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Copyright (c) 2007 NORTHERN PERU COPPER CORP. (NOC) All rights
reserved. For more information visit our website at
http://www.northernperu.com/ or send mailto:info@northernperu.com
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