Copper Mountain Mining Announces Addition to Eva Copper Mineral Resource, Increases Measured&Indicated Resource by 836 Million Pounds of Copper with Blackard Deposit
(PresseBox) - Copper Mountain Mining Corporation (TSX:CMMC | ASX:C6C)https://www.youtube.com/watch?v=m7BCML1dKP0&t=123s - ) is pleased to announce drill results from a recently completed exploration program, metallurgical testwork results and a new Mineral Resource for the Blackard deposit. Blackard is a large stratabound deposit located within the Company?s Eva Copper Project mining leases, five kilometres from the proposed Eva Copper processing plant, in Queensland, Australia (See Appendix 1 for Location Map).
Drill hole results highlights:
Hole BCR910 returned 125 metres of 0.57% Cu including 5 metres of 1.30% Cu
Hole BCR911 returned 78 metres of 0.69% Cu including 24 metres of 1.17% Cu
Hole BCR917 returned 86 metres of 0.59% Cu including 46 metres of 0.86% Cu
Hole BCR918 returned 94 metres of 0.55% Cu including 44 metres of 0.75% Cu
Hole BCR919 returned 72 metres of 0.57% Cu including 20 metres of 0.68% Cu
The Company also recently completed extensive metallurgical testwork that has confirmed economic recoveries at Blackard. Based on these results, flotation recoveries are expected to be 90% for the Copper Sulphide Zone and 63% for the Copper Zone, both producing saleable concentrates.
The Blackard Mineral Resource consists of a Measured and Indicated Mineral Resource of 77 million tonnes grading 0.49% copper containing 836 million pounds of copper and an Inferred Mineral Resource of 19 million tonnes grading 0.49% copper containing 206 million pounds of copper.
Gil Clausen, Copper Mountain?s President and CEO, commented, ?We are extremely encouraged by the potential that exists at Eva Copper. These results lead us to believe that Blackard could significantly increase the mill feed and copper production at the Eva Copper Project. We intend to incorporate the information from the Blackard Mineral Resource and metallurgical testwork into an updated feasibility study for Eva Copper, the results of which we expect to announce in the first quarter of 2020.?
Mr. Clausen added, ?The Blackard deposit is only one of seven historical copper deposits within the Eva Copper Project area that are not included in the current mine plan. We are continuing to drill and advance the other deposits, which we believe could add even more value to the Eva Copper Project.?
October 2019 Mineral Resource Estimate
A summary of Blackard?s October 2019 Mineral Resource estimate is provided below. The new resource estimate is based on approximately 60,600 metres of drilling, which includes drill and assay information up to August 2019.
The mineral resource has been contained within a US$3.50 per pound copper whittle-pit shell.ies and are 0.23% Cu, 0.20% Cu and 0.17% Cu for the copper, transition and copper sulphide zones, respectively.
The Copper Sulphide Zone consists of primary sulphide material which occurs in carbonate altered sediments and includes bornite, chalcopyrite and hypogene chalcocite copper-sulphide species. Mineralization within the Copper Zone is primarily fine-grain native copper and lesser chalcocite which are hosted within altered metasedimentary schists. The deposit is covered by a shallow weathered cap of ferruginous oxide material that is considered as waste rock. Pit).
The Mineral Resource and metallurgical testwork results on Blackard are currently being incorporated into the Eva Copper mine plan.
2019 Drill Results
In 2019, Copper Mountain recently completed an 18-hole drill program (2,695 metres) at the Blackard deposit with the objective of validating the existing deposit model and test for extensions to mineralization. The drill results are included in the October 2019 Mineral Resource.
Competent Persons Statement
The information in this report that relates Mineral Resources or 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.
The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr. George Ross, BSc, MSc, MBA, MAIG.
Qualified Persons Statement
Mr. Peter Holbek and Mr. George Ross are both deemed a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the contents of this press release.
About Copper Mountain Mining Corporation:
Copper Mountain?s flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia near the town of Princeton. The Copper Mountain mine currently produces approximately 90 million pounds of copper equivalent annually, with average annual production expected to increase to over 110 million pounds of copper equivalent in 2020.the symbol ?C6C?.
Additional information is available on the Company?s web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
?Gil Clausen?
Gil Clausen, P.Eng.
Chief Executive Officer
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Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, ?forward-looking statements?) within the meaning of applicable securities laws.ng statement, whether as a result of new information, future events or otherwise.
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Datum: 16.10.2019 - 05:29 Uhr
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News-ID 1553110
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