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Capstone Mining Announces High Grade Step-out Holes at Cozamin Mine

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Capstone Mining Announces High Grade Step-out Holes at Cozamin Mine

 

 

 

 

 

Capstone Mining Corp. (TSX: CS) today announced high grade results from step-out drilling at its Cozamin Mine in Mexico, which will be included in a re-estimation of mineral resources in the Mala Noche Footwall Zone later this year. Since the last Mineral Resource estimate, effective March 31, 2018, Capstone has completed 46 additional holes, including 23 step-out holes beyond the boundaries of the March 31 model. Drill intercepts underpinning Capstone’s decision to re-estimate the Mineral Resource are summarized below in Table 1.

 

 

Table 1 – Selected MNFWZ Drilling Completed Since March 31, 2018 Mineral Resource Estimate

 

 

Section
ID #
Drill hole ID Type From
(m)
To 

(m)

Width
(m)
True
Width*
(m)
Cu
(%)
Zn
(%)
Pb
(%)
Ag
(g/t)
Au
(g/t)
4 CG-18-S323

including

step-out 657.4

662.4

673.3

673.3

15.9

10.9

15.4

10.6

3.88

5.39

0.12

0.17

0.01

0.01

63.1

88.6

0.02

0.02

6 CG-18-S331 step-out 690.4 698.5 8.1 8.0 2.08 0.07 0.01 69.9 0.15
9 CG-18-S337

including

step-out 648.8

663.5

666.7

666.1

17.9

2.6

17.1

2.5

2.19

4.47

0.07

0.11

0.01

0.01

39.3

68.3

0.01

0.02

12 CG-18-S343

including

step-out 542.3

548.6

558.5

557.8

16.2

9.2

14.8

8.4

5.34

8.00

0.80

1.02

0.03

0.04

112.3

157.9

0.05

0.06

16 CG-18-U474

and

step-out 661.5

676.9

672.0

678.9

10.5

2.0

9.7

1.9

2.26

1.80

0.19

0.07

0.02

0.01

40.3

29.0

0.01

0.00

 

*estimated true width of vein intercept for inclined drill holes

 

 

“Given the grade and substantially thicker intervals in multiple new drill intercepts, including holes well up-dip of the March 31 resource model, we have decided to re-estimate the MNFWZ Mineral Resource,” said Brad Mercer, Senior Vice President of Exploration at Capstone. “We have completed drilling up-dip and along strike, and to a lesser extent down-dip, from the March 2018 Mineral Resource estimate. We intend to keep drilling with five to six drills for the remainder of 2018, both stepping out and infilling the MNFWZ extension.” 

 

 

A Cozamin technical review is underway and a technical report is expected to be completed later this year. The review will target the March 31 Mineral Resource for conversion to mineral reserves, update the resource estimate to include the additional drilling since the March 31 update and will also include the materials handling study currently underway. This study is assessing options to increase Cozamin’s copper output by debottlenecking the mine in order to take advantage of the current 20% unutilized mill capacity.

 

 

“We are extremely optimistic about Cozamin’s future based on our recent exploration success,” said Darren Pylot, Capstone’s President and CEO. “This low cost mine is going through a paradigm shift as we continue to unlock its potential value through ongoing exploration and evaluation of various scenarios to increase copper production.”

 

 

The full results for all MNFWZ holes completed since the March 31, 2018 Mineral Resource estimate are in Table 2 below. For drill hole location and context please view the long-section of the MNFWZ at: http://capstonemining.com/files/images/maps/MNFWZ-Sept2018.pdf.  

 

 

Table 2 – All MNFWZ Drilling Completed Since March 31, 2018 Mineral Resource Estimate

 

 

Section
ID #
Drill hole ID Type From
(m)
To
(m)
Width
(m)
True
Width*
(m)
Cu

(%)

Zn

(%)

Pb

(%)

Ag
(g/t)
Au
(g/t)
1 CG-18-S315 step-out 681.9 695.4 13.5 12.0 1.50 0.47 0.01 22.9 0.01
2 CG-18-S317 step-out 728.4 729.0 0.6 0.6 0.95 0.07 0.01 24.3 0.01
3 CG-18-S318 step-out 970.7 971.2 0.5 0.4 2.69 0.12 0.03 33.5 0.00
4 CG-18-S323

including

step-out 657.4

662.4

673.3

673.3

15.9

10.9

15.4

10.6

3.88

5.39

0.12

0.17

0.01

0.01

63.1

88.6

0.02

0.02

5 CG-18-S325 step-out 686.2 688.2 2.0 1.8 0.06 0.21 0.04 22.2 0.04
6 CG-18-S331 step-out 690.4 698.5 8.1 8.0 2.08 0.07 0.01 69.9 0.15
7 CG-18-S332 step-out 640.3 642.3 2.0 2.0 5.85 0.19 0.01 97.7 0.04
8 CG-18-S334 step-out 641.8 651.3 9.5 9.3 1.50 0.06 0.01 32.0 0.01
9 CG-18-S337

including

step-out 648.8

663.5

666.7

666.1

17.9

2.6

17.1

2.5

2.19

4.47

0.07

0.11

0.01

0.01

39.3

68.3

0.01

0.02

10 CG-18-S339

and

step-out 483.7

499.0

486.8

503.5

3.1

4.5

2.6

3.8

0.90

1.75

0.03

0.07

0.01

0.01

21.0

34.3

0.03

0.09

11 CG-18-S342 step-out 674.8 675.5 0.7 0.6 3.32 0.12 0.01 59.0 0.02
12 CG-18-S343

including

step-out 542.3

548.6

558.5

557.8

16.2

9.2

14.8

8.4

5.34

8.00

0.80

1.02

0.03

0.04

112.3

157.9

0.05

0.06

13 CG-18-S344

including

step-out 611.0

611.0

618.2

615.9

7.2

4.9

7.0

4.7

1.42

1.85

0.05

0.06

0.01

0.01

31.1

40.2

0.01

0.01

14 CG-18-S346

and

step-out 568.3

599.0

569.4

601.2

1.1

2.2

0.9

1.8

0.47

0.72

0.07

0.20

0.01

0.15

8.2

43.0

0.07

0.02

15 CG-18-U472

and

step-out 663.7

677.1

665.0

677.6

1.3

0.5

1.1

0.4

0.76

0.99

0.02

0.06

0.00

0.01

9.0

21.0

0.01

0.04

16 CG-18-U474

and

step-out 661.5

676.9

672.0

678.9

10.5

2.0

9.7

1.9

2.26

1.80

0.19

0.07

0.02

0.01

40.3

29.0

0.01

0.00

17 CG-18-S348

including

step-out 609.5

635.7

642.7

642.7

33.2

7.0

28.5

6.0

0.67

2.1

0.05

0.17

0.03

0.13

15.6

44.3

0.03

0.06

18 CG-18-S347 step-out assays pending
19 CG-18-S349 step-out assays pending
20 CG-18-S351 step-out assays pending
21 CG-18-S352 step-out assays pending
22 CG-18-S353 step-out assays pending
23 CG-18-S354 step-out assays pending
24 CG-18-S355 step-out in progress
25 CG-18-S356 step-out in progress
26 CG-18-S357 step-out in progress
27 CG-18-U477 step-out in progress
28 CG-18-S314 infill 777.1 782.3 5.2 4.4 5.20 0.93 0.26 130.8 0.03
29 CG-18-S316 infill 759.9 765.9 6.0 5.4 1.12 0.26 0.01 24.0 0.02
30 CG-18-S319

and

infill 788.5

797.6

791.7

801.9

3.2

4.3

3.0

3.8

3.13

1.14

0.34

1.50

0.01

0.41

52.0

116.6

0.06

0.18

31 CG-18-S320 infill 704.7 708.0 3.3 3.1 3.57 1.30 0.02 61.2 0.03
32 CG-18-S321

and

infill 626.5

776.3

636.9

790.8

10.4

14.5

9.2

12.9

1.45

2.11

3.25

0.23

4.26

0.01

87.1

37.8

0.08

0.01

33 CG-18-S322 infill 884.7 894.5 9.8 8.0 1.25 0.08 0.03 22.2 0.00
34 CG-18-S326 infill 753.1 760.4 7.3 7.1 7.89 0.84 0.30 128.2 0.03
35 CG-18-S328 infill 872.2 878.8 6.6 5.6 0.69 0.03 0.01 11.4 0.01
36 CG-18-S329 infill no significant intercepts
37 CG-18-S333 infill 865.6 869.8 4.2 3.8 1.76 0.07 0.01 24.9 0.01
38 CG-18-S338

including

and

including

infill 807.0

817.7

846.9

859.9

824.2

824.2

871.3

866.1

17.2

6.5

24.4

6.2

14.9

5.7

21.2

5.4

1.57

2.77

1.96

5.52

0.06

0.10

0.50

1.20

0.02

0.02

0.06

0.18

36.5

45.7

35.6

96.2

0.06

0.02

0.01

0.01

39 CG-18-S358 infill in progress
40 CG-18-U461 infill 632.0 633.2 1.2 1.0 1.32 0.02 0.01 9.0 0.01
41 CG-18-U464 infill 641.5 647.3 5.8 5.6 4.15 0.67 0.01 71.9 0.06
42 CG-18-U465 infill 656.1 658.9 2.8 2.6 2.52 0.69 0.02 52.5 0.04
43 CG-18-U466 infill 557.2 566.3 9.1 8.0 1.81 0.11 0.00 42.1 0.09
44 CG-18-U467 infill 605.3 611.4 6.1 5.8 1.46 0.18 0.04 26.7 0.06
45 CG-18-U468 infill 577.4 587.6 10.2 9.7 3.83 0.72 0.03 65.3 0.04
46 CG-18-U469

including

infill 665.1

669.0

670.4

669.9

5.3

0.9

4.7

0.8

0.49

1.55

0.05

0.08

0.01

0.01

9.3

22.0

0.01

0.02

47 CG-18-U470

including

infill 635.7

641.4

656.2

656.2

20.5

14.8

18.1

13.1

1.27

1.43

0.38

0.51

0.09

0.12

57.5

73.7

0.14

0.18

48 CG-18-U471

and

infill 701.1

718.0

709.0

721.3

7.9

3.3

7.0

2.9

3.20

3.69

0.15

0.30

0.03

0.06

49.2

66.4

0.01

0.01

49 CG-18-U473

including

infill 687.0

695.0

698.0

696.0

11.0

1.0

9.1

0.8

0.84

3.38

0.05

0.13

0.01

0.02

13.2

46.0

0.01

0.02

50 CG-18-U475 infill assays pending
51 CG-18-U476 infill assays pending
52 CG-18-U478 infill in progress

 

 

*estimated true width of vein intercept for inclined drill holes

 

 

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 -10 mesh. A 250g subsample of the crushed material is then pulverized to 85% passing -200 mesh. Copper, zinc, lead and silver are determined by ICP analysis after 4 acid digestion of a 0.4g subsample of pulverized material. Gold is determined by fire assay of a 30g sub-sample with AA finish. 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. We are committed to the responsible development of our assets and the environments in which we operate. Our three producing mines are the Pinto Valley copper mine located in Arizona, US, the Cozamin polymetallic mine in Zacatecas State, Mexico and the Minto copper mine in Yukon, Canada. 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.

 

Posted September 17, 2018

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