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Capstone Intercepts 20m of 2.2% Cu Including 5m of 5.3% Cu: Exploration Program Pointing to Higher Grades and Wider Intercepts than in Current Reserve

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Capstone Intercepts 20m of 2.2% Cu Including 5m of 5.3% Cu: Exploration Program Pointing to Higher Grades and Wider Intercepts than in Current Reserve

 

 

 

 

 

Capstone Mining Corp. (TSX:CS) announces additional high grade copper and silver results from 20 infill drill holes at its Cozamin Mine, further to the update of November 5, 2019. These, plus an additional 15 holes pending assays, bring the total drilled to date to 138 holes of a 200 hole program, aiming to more than double the current reserve base. Drill results to date continue to demonstrate greater widths and grades than current Mineral Reserves. Mineral Resources and Mineral Reserves estimates will be updated in late 2020.

 

“These recent drill results continue a theme we saw in the last results, released in early November, of better grade times thickness on average than the current reserve,” said Brad Mercer, Capstone’s Senior Vice President of Operations and Exploration. “With each additional hole we are more confident that Cozamin will be an even greater mine for the next decade, with 50% higher copper and silver production compared to today. The Mala Noche Footwall Zone  is still open in two directions and we continue to keep six drills running to expand the resource and eventually the mineral reserves with a new technical report next year.”

 

Darren Pylot, Capstone’s President and CEO said, “Our exploration team has done a fantastic job in surfacing huge NAV for shareholders. Not long ago we were facing a sunset operation and with exploration excellence we are now looking forward to higher production and higher margins than what we have ever realized at this mine. Cozamin is the type of operation all mining companies want to have but are extremely rare to find.”   

 

Cozamin is expected to produce 50 to 55 million pounds of copper and 1.4 to 1.5 million ounces of silver starting in early 2021, upon completion of the underground debottlenecking development project which is on schedule.

 

Select intervals are summarized in Table 1 and full results for all previously unreleased holes since the November 5, 2019 exploration update are in Table 2.

 

 

Table 1 – Selected MNFWZ Drilling Completed Since the November 5, 2019 News Release  

 

 

                       
Section
ID #
Drill hole ID Type In
Resource
From
(m)
 To
(m)
Width
(m)
True
Width*
(m)
Cu
(%)
Zn
(%)
Pb
(%)
Ag
(g/t)
2 CG-19-S434 infill no 527.5 550.9 23.4 20.3 2.20 0.08 0.04 43.6
  including     536.5 542.3 5.8 5.0 5.28 0.14 0.01 96.8
3 CG-19-S427 infill no 626.9 633.1 6.2 6.1 4.01 0.10 0.01 67.3
9 CG-19-S429 infill no 569.3 588.1 18.8 18.5 1.49 0.05 0.01 50.7
  including     582.5 588.1 5.6 5.5 1.92 0.06 0.01 69.5
10 CG-19-S433 infill no 550.5 577.6 27.1 24.6 1.27 0.05 0.01 31.1
  Including     550.5 558.3 7.8 7.1 2.99 0.09 0.01 62.4
18 CG-19-S426 infill no 584.0 598.2 14.2 12.2 3.15 0.10 0.01 58.2
  including     592.0 596.8 4.8 4.1 6.97 0.20 0.01 121.0
24 CG-19-S418 infill no 557.4 566.5 9.1 8.4 3.98 0.83 0.02 84.2
*estimated true width of vein intercept for inclined drill holes              

 

 

For drill hole location and context please view the long-section of the MNFWZ at https://capstonemining.com/files/images/maps/Cozamin-Hole-ID-Long-Section-NR-02Dec2019.pdf.

 

Table 2 – All MNFWZ Drilling Completed Since the November 5, 2019 News Release

 

 

                       
Section
ID #
Drill hole ID Type In
Resource
From
(m)
 To
(m)
Width
(m)
True
Width*
(m)
Cu
(%)
Zn
(%)
Pb
(%)
Ag
(g/t)
1 CG-19-S439 infill no assays pending
2 CG-19-S434 infill no 527.5 550.9 23.4 20.3 2.20 0.08 0.04 43.6
  including     536.5 542.3 5.8 5.0 5.28 0.14 0.01 96.8
3 CG-19-S427 infill no 626.9 633.1 6.2 6.1 4.01 0.10 0.01 67.3
4 CG-19-S444 infill no assays pending
5 CG-19-S447 infill no in progress
6 CG-19-S438 infill no assays pending
7 CG-19-S421 infill no 647.0 648.0 1.0 0.9 5.91 1.14 0.08 111.0
8 CG-19-S430 infill no 633.7 639.1 5.4 5.3 3.25 0.09 0.01 53.5
  including     636.7 639.1 2.4 2.3 6.31 0.16 0.01 101.8
9 CG-19-S429 infill no 569.3 588.1 18.8 18.5 1.49 0.05 0.01 50.7
  including     582.5 588.1 5.6 5.5 1.92 0.06 0.01 69.5
10 CG-19-S433 infill no 550.5 577.6 27.1 24.6 1.27 0.05 0.01 31.1
  including     550.5 558.3 7.8 7.1 2.99 0.09 0.01 62.4
11 CG-19-S442 infill no assays pending
12 CG-19-S446 infill no in progress
13 CG-19-S425 infill no no significant intercepts
14 CG-19-S431 infill no 652.1 654.8 2.7 2.0 7.86 0.28 0.02 132.0
15 CG-19-S420 infill no no significant intercepts
16 CG-19-S435 infill no assays pending
17 CG-19-S419 infill no 636.0 639.7 3.7 2.7 3.26 1.23 0.17 80.1
18 CG-19-S426 infill no 584.0 598.2 14.2 12.2 3.15 0.10 0.01 58.2
  including     592.0 596.8 4.8 4.1 6.97 0.20 0.01 121.0
19 CG-19-S440 infill no assays pending
20 CG-19-S428 infill no 582.5 586.4 3.9 2.7 4.55 0.17 0.01 107.4
21 CG-19-S423 infill no 623.5 628.4 4.9 4.2 1.37 0.64 0.04 42.9
22 CG-19-S424 infill no 603.4 606.0 2.6 2.1 3.07 0.75 0.06 96.5
23 CG-19-S422 infill no 558.7 568.8 10.1 9.2 2.29 0.51 0.01 55.6
24 CG-19-S418 infill no 557.4 566.5 9.1 8.4 3.98 0.83 0.02 84.2
25 CG-19-S437 infill no assays pending
26 CG-19-S432 infill no 510.1 515.0 4.9 3.9 1.26 0.06 0.01 27.2
27 CG-19-S441 infill no assays pending
28 CG-19-S445 infill no in progress
29 CG-19-U504 infill no in progress
30 CG-19-U503 infill no assays pending
31 CG-19-U502 infill no no significant intercepts
32 CG-19-U501 infill no no significant intercepts
33 CG-19-U500 infill no no significant intercepts
34 CG-19-S436 infill no assays pending
35 CG-19-S443 infill no in progress
*estimated true width of vein intercept for inclined drill holes              

 

 

Methodology

 

All samples were submitted for preparation by ALS at its facilities in Zacatecas, Mexico, followed by analysis at the ALS Laboratory in North Vancouver, Canada. The entire sample is crushed to a minimum of 70% passing 2 millimetres. A 250g subsample of the crushed material is then pulverized to 85% passing 75 microns. Copper, zinc, lead and silver are determined by ICP analysis after 4 acid digestion of a 0.4g subsample of pulverized material. QAQC samples in each batch of 20 samples include a blank, a certified reference material and a duplicate (one of a field, coarse reject or pulp reject).

 

About Capstone Mining Corp.

 

Capstone Mining Corp. is a Canadian base metals mining company, focused on copper. Our two producing mines are the Pinto Valley copper mine located in Arizona, US and the Cozamin copper-silver mine in Zacatecas State, Mexico. In addition, Capstone has the large scale 70% owned copper-iron Santo Domingo development project in Region III, Chile, in partnership with Korea Resources Corporation, as well as a portfolio of exploration properties. Capstone’s strategy is to focus on the optimization of operations and assets in politically stable, mining-friendly regions, centred in the Americas. We are committed to the responsible development of our assets and the environments in which we operate.

 

Posted December 2, 2019

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