Copper Mountain PropertyCopper Mountain
An induced polarization geophysical survey is planned for this season. The survey will cover prospective areas identified by an airborne magnetic EM survey completed in 2009. The Copper Mountain project directly adjoins the 35,000-tonne-per-day Similkameen copper mine (Similco -- currently under development by Copper Mountain Mining Corp.) which will enter into full production in June of this year at a cost of $438-million. Measured plus indicated resources at Similco are 518.6 million tonnes containing 3.226 billion pounds of copper and 390.7 million tonnes of inferred resource containing 1.758 billion pounds of copper for a total of 4.984 billion pounds (Giroux, 2009). CUM has been conducting exploration and development drilling outside its delineated deposit and have defined two new copper, silver, gold zones known as the Oriole and Rifle. The Oriole is approximately 1,500 metres northeast and the Rifle is 1,500 east of CIN's property. On completion of the geophysical survey, CIN will consider several serious joint venture offers that it has received to finance a diamond drill program.