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Copper Mountain Announces Positive Drill Results at New Ingerbelle

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Copper Mountain Announces Positive Drill Results at New Ingerbelle

 

 

 

 

 

Copper Mountain Mining Corporation (TSX: CMMC) (ASX:C6C) is pleased to announce initial drill results from Phase 2 of its 3-Phase drilling program at the New Ingerbelle property nearby the present operations of Copper Mountain Mine (See Appendix A for New Ingerbelle location map).

 

 

Highlights include:

 

  • Hole 18IG-06 returning 105 metres of 1.03% CuEq (0.71% Cu, 0.87 g/t Ag, 0.47 g/t Au), which includes:
    • 30 metres of 2.22% CuEq (1.53% Cu, 2.02 g/t Ag, 1.01 g/t Au), and,
    • 48 metres of 0.83% CuEq (0.58% Cu, 0.58 g/t Ag, 0.37 g/t Au)
  • Hole 18IG-03 returning 63 metres of 0.91% CuEq (0.56% Cu, 0.91 g/t Ag, 0.51 g/t Au) and 117 metres of 0.50% CuEq (0.35% Cu, 0.49 g/t Ag, 0.22 g/t Au)
  • Hole 18IG-01 returning 165 metres of 0.63% CuEq (0.44% Cu, 0.60 g/t Ag, 0.29 Au g/t), which includes:
    • 93 metres of 0.81% CuEq (0.55% Cu, 0.74 g/t Ag, 0.38 g/t Au), and,
    • 48 metres of 0.56% CuEq (0.4% Cu, 0.52 g/t Ag, 0.24 g/t Au)
  • Hole 18IG-02 returning 60 metres of 0.70% CuEq (0.47% Cu, 0.98 g/t Ag, 0.33 g/t Au)
  • Hole 18IG-05 returning 48 metres of 0.72% CuEq (0.49% Cu, 1.05 g/t Ag, 0.33 g/t Au), which includes:
    • 21 metres of 1.19% CuEq (0.8% Cu, 1.73 g/t Ag, 0.56 g/t Au)

 

 

Gil Clausen, Copper Mountain’s President and CEO stated, “These early phase 2 drill results are very encouraging, and we believe demonstrate that New Ingerbelle will continue to grow in quality and size. We see New Ingerbelle as having transformative potential for our operations in B.C. providing further growth opportunity for the Company.” 

 

 

New Ingerbelle provides considerable upside as the Company has never reported any New Ingerbelle Mineral Reserves. Copper Mountain initiated a 3-Phase drilling program at the New Ingerbelle Mine last year with Phase 1. The Phase 1 program, which consisted of 22 drill holes, was successful in validating and confirming historical data, thus allowing a revised Mineral Resource estimate using both historical and new drill data. The program also confirmed the significant gold mineralization at New Ingerbelle (see February 1, 2018 press release).

 

 

The objectives of this Phase 2 drilling program are to continue to expand the New Ingerbelle resource area and to convert Inferred Mineral Resources to the Measured and Indicated status. A total of 30 holes are planned. Complete drill results from this program followed by an updated Mineral Resource estimate is planned in Q3 2018.

 

 

The Company’s objective under the 3-phase program at New Ingerbelle is to outline sufficient resources to form the basis of a Feasibility Study on the development potential of this historic producing mine. The Company’s target is to add a minimum of 150 million tonnes of Measured and Indicated resource to commence that study.

 

 

Significant intercepts from the seven completed drill holes to date, are summarized in the table below. A drill hole location map for the Phase 2 program and associated cross sections can be found in Appendix B, while a detailed listing of drill holes being reported can be found in Appendix C.

 

 

Hole ID Azi Dip Length From

(m)

To

(m)

Interval

(m)

Cu% Ag g/t Au g/t Cu Eq%*
18IG-01 315 -48 312 33 63 30 0.33 0.45 0.31 0.54
        72 111 39 0.21 0.27 0.11 0.29
        120 141 21 0.17 0.28 0.12 0.25
        147 312 165 0.44 0.60 0.29 0.63
Incl        147 240 93 0.55 0.74 0.38 0.81
Incl        264 312 48 0.4 0.52 0.24 0.56
                     
18IG-02 222 -45 180 0 60 60 0.47 0.98 0.33 0.70
        66 93 27 0.14 0.42 0.06 0.18
                     
18IG-03 42 -57 348 33 96 63 0.56 0.91 0.51 0.91
        114 126 12 0.24 0.33 0.14 0.34
        198 231 33 0.11 0.21 0.06 0.15
        231 348 117 0.35 0.49 0.22 0.50
                     
18IG-04 315 -54 273 84 207 123 0.35 0.57 0.25 0.42
                     
18IG-05 315 -54 288 9.6 27 17.4 0.2 0.5 0.13 0.29
        27 42 15 0.11 0.29 0.04 0.14
        60 87 27 0.19 0.4 0.14 0.29
        120 138 18 0.11 0.3 0.07 0.16
        168 216 48 0.49 1.05 0.33 0.72
Incl       168 189 21 0.8 1.73 0.56 1.19
                     
18IG-06 315 -58 303 48 120 72 0.2 0.35 0.11 0.28
        132 237 105 0.71 0.87 0.47 1.03
 Incl       132 180 48 0.58 0.58 0.37 0.83
 Incl       207 237 30 1.53 2.02 1.01 2.22
                     
18IG-07 222 -45 290 12 68 56 0.22 0.46 0.12 0.30
        170 209 39 0.18 0.33 0.12 0.26
        248 281 33 0.35 0.67 0.28 0.54
*CuEq%: Calculated using US$2.75/lb Cu, US$1,250/oz Au, and US$16/oz Ag, at 100% recoveries.  

 

 

Competent Persons Statement

 

 

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Peter Holbek, B.SC (Hons), M.Sc. P. Geo. Mr. Holbek is a full time employee of the Company and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Holbek does consent to the inclusion in this news release of the matters based on their information in the form and context in which it appears.

 

 

Peter Holbek is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this release.

 

 

About Copper Mountain Mining Corporation:

 

 

Copper Mountain’s flagship asset is the Copper Mountain mine, located in southern British Columbia near the town of Princeton. The Company has a strategic alliance with Mitsubishi Materials Corporation who owns 25% of the mine. The Copper Mountain mine has a large resource of copper that remains open laterally and at depth. This significant exploration potential is being explored to maximize the property’s full development potential. Copper Mountain’s Cloncurry project in Queensland, Australia, includes the development-ready Eva Copper Project and an extensive exploration potential within the Company’s 379,000 hectare highly prospective land package within the Mount Isa area.

 

Posted July 23, 2018

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