NEWS RELEASE !!!!!! Copper Creek Gold Corp
Symbol C : CPV
Shares Issued 112,806,731
Close 2012-10-02 C$ 0.025
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Copper Creek, Stina complete Bandit drill program
2012-10-03 13:29 ET - News Release
Also News Release (C-SQA) Stina Resources Ltd
Mr. James Anderson of Copper Creek reports
COPPER CREEK PROVIDES UPDATE ON BANDIT PROPERTY DRILLING
Copper Creek Gold Corp. has completed a percussion drilling program on its Bandit copper-silver-gold-molybdenum property located in the Blackwater area of British Columbia, approximately 130 kilometres south of Vanderhoof.
Stina Resources Ltd. is financing this year's exploration program on the Bandit property. Under the terms of the option agreement, Stina must incur $2-million in exploration spending over a four-year period and issue 400,000 common shares to Copper Creek over a three-year period to earn a 60-per-cent interest in the property. Copper Creek is the designated operator of the project for the present exploration season.
The program consisted of 15 percussion drill holes (1,402 metres) over part of a two-kilometre-by-five-kilometre copper, gold and molybdenum anomaly identified during MMI sampling by Copper Creek in the summer of 2011. Samples are being transported to ALS Group in North Vancouver, B.C., for assaying. Results will be announced when received. The cost for this year's drilling program is estimated at between $250,000 and $275,000.
The Bandit property is adjacent to claims owned by New Gold Inc., where New Gold is currently drilling its Blackwater gold project. Blackwater currently hosts a gold resource of 7.1 million ounces indicated and 2.5 million ounces inferred (refer to New Gold Inc.'s July 18, 2012, news release).
"To date, drilling has provided preliminary information needed to form an understanding of the basic geology of the property as well as to gain an understanding of this mineralizing system. This information will allow us to more effectively target other untested zones in future exploration programs," said Kristian Whitehead, vice-president, exploration.
Assay results from these holes will be reported once received and interpreted by the company.
The foregoing geological disclosure has been reviewed and verified by Kristian Whitehead, PGeo (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr. Whitehead is an officer of Copper Creek.
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