NR - copper mountain has released assay results The 2012 exploration program, which consists of two phases, commenced in late May and through to the end of July, a total of 9,800m of diamond drilling has been completed in 50 holes. Phase 1 diamond drilling targeted three areas: the southern end of Pit 3, the northern side of Pit 2 and the western part of the Alabama trend. Phase 2 of the program will be completed by the end of the year and will consist of approximately 10,000 meters of diamond drilling.
Phase 1 drilling on the south end of Pit 3 was completed to obtain additional geotechnical data, and verify the extent of historical mining in order to assist with pit planning and deeper drilling. Four holes were drilled along two sections from the western side of the deposit. Results are listed in the table below. The first hole, drilled at -60o to a depth near the bottom of the planned Super pit, intersected the intrusive-volcanic contact, and the mineralization that occurs there, on target, but was lost after a short distance due to intersecting underground workings. The second drill hole at -47o was completed to target depth and intersected 80m of mineralization with a 0.4% average copper grade, approximately 100m above the 12P3-01 intersection. Drill holes P3-03 and 04 were drilled at -47o and -60o, respectively, on a section 120m further to the south than the P3-01/02 section. Drill hole 12P3-03 is the shallower hole and intersected 42m of mineralization grading 0.82% copper before entering a dyke-filled fault zone running sub-parallel to the drilling direction. Drill hole 12P3-04, the deeper hole on this section, intersected 38m grading 2.14% copper.
Southern end of Pit 3: Significant drill intersectionsHole_IDArea DirectionFrom (m)To (m)Interval (m)Cu_%Ag g/t Au g/t 12P3-01Pit 3 E 261.7 321.5 59.8 0.45pendingpending12P3-02Pit 3 E 190.0 270.0 80.0 0.40 " " 12P3-03Pit 3 E 295.0 331.4 42.0 0.82 " " 12P3-04Pit 3 E 81.0 123.0 38.0 2.14 " "
Drilling in the Pit 2 area was carried out, in part, to provide infill data for the block model, allowing the conversion of inferred resources to the measured and indicated categories in order to assist with pit optimization currently being carried out at the mine site; as well as to extend the Pit 2 mineralization to the north; and test mineralization at depth. Fourteen, relatively shallow drill-holes were completed at -45o on the south and west side of Pit 2; eleven, shallow to moderate length, drill-holes were completed on the north side; and five, deep drill-holes below the west-central part of Pit 2 were completed from the north side of the pit. Significant results are listed in the table below, and a plan map showing the drill-hole locations is appended to this release.
Pit 2 area: Significant IntersectionsHole_ID Area DirectionFrom (m)To (m)Interval (m)Cu_%Ag g/t Au g/t 12P2-04 Pit2 South NW 81.0 129.0 48.0 0.34 1.1 0.09 12P2-07 Pit2 South NW 12.0 90.0 78.0 0.56 1.5 0.15 12P2-13 Pit2 South NW 9.0 153.0 144.0 0.30 0.74 0.12 12P2-15 Pit2 South NW 18.0 81.0 63.0 0.50 1.34 0.18 12P2-19 Pit2 North SE 444.0 585.0 141.0 0.59pendingpending12P2-21 Pit2 North SE 240.0 353.8 113.8 0.28 0.81 0.16 Incl. 330.0 353.8 23.8 0.50 1.38 0.19 12P2-23 Pit2 North SE 306.0 366.0 60.0 0.39pendingpending12P2-26 Pit2 North SE 204.0 495.3 291.3 0.34 " " Incl. 342.5 465.3 122.8 0.52 " "
The results from the shallow drilling are generally higher than the inferred model grades and will assist in improving the pit design. Additionally, the results from the deep drill-holes are similar to the previous deep drilling (2010) and extend the trend of, 'increasing grade and continuity of mineralization with depth', to the west of the previous drilling.
Drilling in and along the Alabama trend was designed to determine if additional drilling in this area could increase both the resource grade and classification. Mineralization in the Alabama area is generally more disseminated and is lower grade than other areas of Copper Mountain. Results of this drilling in the Alabama trend are as follows:
Alabama Trend: Significant drill intersectionsHole_ID Area DirectionFrom (m)To (m)Interval (m)Cu_%Ag g/t Au g/t 12AB-11Alabama NE 23.0 300.0 277.0 0.23pendingpending Incl. 40.0 219.0 179.0 0.29 " " 12AB-12Alabama NE 3.0 177.2 174.2 0.35 0.68 0.11 12AB-13Alabama NE 42.0 165.0 123.0 0.20pendingpending12AB-13Alabama NE 180.0 256.2 76.2 0.23 " "
The mineralized system at Copper Mountain is classified as a bulk-tonnage, alkalic porphyry copper deposit that is hosted within Nicola Group volcanic rocks. Mineralization is structurally controlled and focused at multi-directional vein intersections and within vein stockwork systems. Drill holes are usually drilled at angles of -45 or -55 degrees to provide the best indication of the lateral extents of vertically oriented mineralization.
Quality Assurance
The company employs a system of quality control for drill results which includes the use of blanks, certified reference material (standards) and check assaying. Core is logged on site and split with a diamond saw. Samples are analyzed for copper at the mine laboratory. Gold and silver, as well as a large number of duplicate copper assays are determined on pulps by Pioneer Laboratories in Richmond, B.C. The drilling program is supervised by Peter Holbek, M.Sc., P.Geo., a qualified person as defined by National Policy Instrument 43-101.
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