Mr. Rana Vig reports
CONTINENTAL DRILLS 0.46% COPPER EQUIVALENT AT DOK
Continental Precious Minerals Inc. has provided the analytical results for the diamond drilling program completed on the DOK copper-gold project located in northwest British Columbia. The DOK property is located between the Schaft Creek and Galore Creek copper deposits to the south and the active exploration currently under way north of the Stikine River. Pursuant to an option agreement with Boxxer Gold Corp., Continental has the right to earn up to a 75-per-cent interest in the DOK property if certain conditions are met (see press release on April 14, 2014). The 2014 diamond drilling program consisting of two holes totalling 834.9 metres has been completed.
Highlights:
- Diamond drill hole (DDH) DOK-01-2014 returned three intervals of greater than 0.10 per cent copper equivalent in potassic and phyllic altered andesite. The entire hole shows elevated concentrations of copper-gold-silver and molybdenum.
- The lower 24.4 metres of DDH DOK-01-2014 intersected 0.012 per cent molybdenum as well as significant copper-gold-silver concentrations in hydrothermal breccia.
- DDH DOK-2014-02 intersected three intervals averaging greater than 0.10 per cent copper equivalent is in strongly potassic and phyllic altered andesite and quartz monzonite intrusive. This hole contains elevated concentration in copper-gold-silver.
- The analytical results show a copper-gold-silver and a copper-gold-silver-molybdenum style of mineralization.
- The significant pyrite concentration in the drill hole combined with the analytical results, alteration, mineralogy and lithology suggest that the drilling may have intersected the outer edge of a hydrothermal porphyry copper-gold system.
The weighted average grade of the mineralized intervals in the two diamond drill holes are as displayed in the table.
From To Interval Copper Gold Silver Molybdenum CuEq DDH ID (m) (m) (m) (%) (g/t) (g/t) (%) (%) DOK-01-2014 6.1 410.0 403.9 0.04 0.03 0.40 0.001 0.07 including 129.5 312.4 182.9 0.07 0.04 0.60 trace 0.11 including 275.8 294.1 18.3 0.33 0.13 1.90 0.001 0.46 including 385.6 410.0 24.4 0.03 0.05 0.98 0.012 0.14 DOK-02-2014 33.5 384.1 350.6 0.05 0.04 0.50 trace 0.08 including 33.5 88.4 54.9 0.11 0.06 1.64 trace 0.18 including 125.0 185.9 60.9 0.07 0.05 0.46 trace 0.12 including 289.6 304.8 15.2 0.03 0.09 0.62 trace 0.11 The above core intervals do not represent true width of the mineralization. CuEq calculations assumes 100-per-cent metal recoveries and metal prices of $2.75 (U.S.) per pound copper, $1,445 (U.S.) per ounce gold, $27.74 (U.S.) per ounce silver and $14.64 (U.S.) per pound molybdenum.
Rana Vig, chief executive officer of Continental, stated: "We are pleased with the results of the 2014 drilling program and the confirmation at depth of broad intervals of porphyry copper-style mineralization. The data suggest that these first two holes may have been completed on the outer edge of the porphyry system, which combined with the higher grade intervals, is considered very encouraging and warrants follow-up work."
DDH DOK-01-2014 was designed to test a stronger portion of the chargeability signature. This hole intersected an 18.5 m interval of higher grade copper-gold-silver mineralization within a broad interval of 0.11 per cent CuEq. The lower interval in the hole yielded a 24.4 m interval that returned 0.012 per cent molybdenum as well as copper-gold-silver mineralization in a hydrothermal breccia. The interval in the hole between 6.1 m and 129.5 m returned variable metal values that ranged from 41 to 953 parts per million (ppm) copper, 0.001 to 0.064 gram per tonne (g/t) gold, 0.1 to 0.5 g/t silver and less than one to 11 ppm molybdenum. The mineralization is not restricted to a specific lithology.
DDH DOK-02-2014 is located 400 m along strike from DDH DOK-01-2014 to test a weaker portion of the chargeability signature. This hole intersected three broad intervals of copper-gold-silver mineralization. This hole contains no appreciable concentration of molybdenum. The interval from 289.6 to 304.8 m returned a weighted average of 0.093 g/t gold, 0.62 g/t silver and 0.03 per cent copper in hydrothermal breccia. The absence of molybdenum suggest that this hydrothermal breccia is different than that intersected in DDH DOK-01-2014. The mineralization in this hole occurs in several host rocks.
Diamond drilling and sampling procedures
The diamond drilling was completed using NQ core size. Overall core recovery was estimated to be greater than 97 per cent. After cutting, one-half of the core is collected for sample preparation and analysis, and the other half is retained for future reference. Sample intervals were selected based on lithology changes/alteration intensity/estimated mineral content. The sample interval was maintained at 3.0 m for the majority of the samples collected. Sample preparation was completed by ACME Analytical Laboratories Ltd. located in Smithers, B.C., and sample analyses were completed by ACME in Vancouver, B.C. Base metals were assayed using the ACME's standard sample preparation and ICP-ES finish. Lower detection limits are as follows: Cu greater than 0.001 per cent, Mo greater than 0.001 per cent and silver values had a lower detection limit of 0.1 g/t. Gold is assayed by fire assay -- fusion of a 30-gram followed by ICP-ES finish; with a lower detection limit of 0.005 g/t. ACME has an 9001:2008 International Standard Organization rating.
Phil van Angeren, PGeol, a qualified person pursuant to National Instrument 43-101, standards for disclosure for mineral projects, has reviewed, verified and approved the technical information disclosed in this news release.
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