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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