From CXO sitedrills 196.5 m of 0.18% CuEq at Eldorado
2014-06-30 08:36 ET - News Release
Mr. Adam Travis reports
COLORADO RESOURCES LTD.: ELDORADO 2014 PROJECT UPDATE
Colorado Resources Ltd. has released the results of the company's 2014 phase 1 drill program at its Eldorado property, which it has under option with Sunrise Resources Ltd.
Highlights of the recent results include drill hole EL14-008, which intersected 196.5 metres of 0.19 gram per tonne gold and 0.06 per cent copper over the entire length of the drill hole from bedrock onward. This hole is located 300 metres west of drill hole EL13-004, reported last year with an intercept of 71.3 m of 0.34 g/t Au and 0.13 per cent Cu.
ELDORADO CU-AU PORPHYRY SYSTEM -- 2014 DRILL RESULTS Total depth From To Interval Au Cu CuEq Hole (m) (m) (m) (m) (g/t) (%) (%) EL14-006 239.9 220.8 236.8 16.1 0.12 0.07 0.15 EL14-007 204.2 6.1 153.8 147.7 0.17 0.05 0.16 includes 9.1 39.0 29.9 0.18 0.07 0.19 EL14-008 231.1 33.5 230.0 196.5 0.19 0.06 0.18 includes 33.5 113.8 80.3 0.22 0.07 0.21 includes 160.2 191.8 31.6 0.26 0.10 0.27 EL14-009 216.4 92.4 93.9 1.5 2.48 0.04 1.61 Copper-equivalent has been used to express the combined value of copper and gold as a percentage of copper and is provided for illustrative purposes only. No allowances have been made for recovery losses that may occur should mining eventually result. Copper-equivalent calculations herein use metal prices of $3.00 (U.S.)/pound of copper and $1,300 (U.S.) per troy ounce of gold using the formula CuEq equals (Cu per cent plus (Au g/t times 0.632). The lengths quoted represent core lengths and do not necessarily represent the true thickness of mineralized intervals.
Samples were analyzed by Acme Analytical Laboratories of Vancouver, B.C. Copper values were first determined using the 1DX ICP-MS method, which reports values as parts per million. The gold results were determined using the G601 fire assay method, which reports gold results in ppm. The analytical results were verified with the application of industry-standard quality assurance/quality contol procedures.
The intent of the 2014 drilling program was to utilize a broadly spaced drill pattern to extend the gold-copper plus or minus molybdenum porphyry system first discovered with DDH EL13-004 along strike. To date mineralization has been identified over a 1,000 m strike length between drill holes EL13-005 and EL14-007.
Geophysical surveys and current drilling demonstrate that this mineralization occurs within a larger intrusive hosted porphyry system measuring at least 1,000 m wide by 2,000 m long. Significant potential therefore remains to expand the mineralized system.
Company president and CEO Adam Travis commented, "We continue to efficiently and systematically explore and advance Eldorado on the eastern doorstep of Red Chris, and have continued to identify the presence of significantly mineralized intrusives with highly anomalous gold and copper values along trend of Red Chris in a similar geological setting."
The company will review these results in the context of its other significant projects and consider future drilling.
Further information on the Eldorado program is contained on Colorado's website.
As announced in the company's news release of June 19, 2014, results from its North ROK 2014 drill program are pending receipt of final assays and QA/QC review by the company's technical team, and are anticipated early July.
Qualified person
Greg Dawson, PGeo, is the qualified person as defined by National Instrument 43-101 who supervised the work program and preparation of the technical data in this news release.
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