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Last updated on April 17, 2014 at 17:30 EDT

Catalyst Copper announces updated resource for La Verde copper project

October 16, 2012

Trading Symbol: CCY

VANCOUVER, Oct. 16, 2012 /PRNewswire/ – Catalyst Copper Corp. (Catalyst) today
announced an updated Measured plus Indicated Resource of 408 million
tonnes grading 0.41% Cu; 0.03 g/t Au; 2.4 g/t Ag at the La Verde copper
porphyry deposit in Michoacán State, Mexico. This resource is estimated
to contain 3.7 billion lbs of copper; 446,000 oz of gold; 31.7 million
oz of silver (Tables 1 & 2).

In addition, Inferred Mineral Resources are estimated at 338 million
tonnes grading 0.37% Cu; 0.02 g/t Au; 1.9 g/t Ag and estimated to
contain 2.7 billion lbs of copper; 250,000 oz of gold; 21.0 million oz
of silver.


                                                 Table 1

                                         La Verde Resource

                                        September 19, 2012

    Class          Tonnes    Cu %  Au g/t  Ag g/t 

    Measured    57,527,000   0.45  0.046   2.9

    Indicated   350,442,000  0.40  0.032   2.3

    Total       407,969,000  0.41  0.034   2.4

    Inferred    337,838,000  0.37  0.024   1.9

        --  Please refer to cautionary notes following Table 2.
        --  Reported at 0.2% Cu cut-off (no gold or silver value added)

The resource has been completed by Tetra Tech Inc. (Tetra Tech).  It
incorporates all drilling to date and has an effective date of
September 19, 2012. The complete NI 43-101 technical report will be
filled on SEDAR within 45 days of this news release.

La Verde consists of two proximal deposits referred to as East Hill and
West Hill. The deposits are amenable to low-cost open-pit mining
methods and are located in an area of excellent infrastructure; rail,
power, water and highways all cross the property.

A Preliminary Economic Assessment (PEA) of La Verde incorporating all
work to date is currently being prepared by AMC Mining Consultants
(Canada) Ltd. and is expected to be completed this month.

“Catalyst is very pleased with the updated resources at La Verde. The
numbers continue to grow and there is still room for expansion,” says
Terry Hodson, V.P. Exploration. “With this  resource update we can now
complete our initial economic assessment of La Verde.”

Catalyst has now completed more than 30,000 meters of drilling, more
than 200 kilometers of geophysics (IP). La Verde property is subject to
an option agreement with a Mexican subsidiary of Teck Resources Limited
(Teck) whereby Catalyst’s 100% Mexican subsidiary, Minera Hill 29, may
earn a 60% interest in La Verde by making US$10,000,000 in exploration
expenditures (including 30,000 meters of drilling and 200 kilometers of
IP) by December 31, 2012. Upon Catalyst earning a 60% interest, Teck
has the option to increase its interest to 60% by incurring aggregate
expenditures equal to two times the amount spent by Catalyst. Should
Teck fail to exercise its option to earn a 60% interest, Catalyst can
acquire a 100% interest in La Verde by paying to Teck US$20 million.
The property is subject to an underlying 0.5% NSR.

The updated resource has been estimated by Mike O’Brien, Pr.Sci.Nat.. 
Mr. O’Brien is the Chief Geologist of Tetra Tech and an independent
qualified person as defined by NI 43-101. The Mineral Resource estimate
was completed using a 3D computer model. The drill hole database
consists of 641 drill holes for a total of 114,823.93 meters, 49,597
assays. A composite interval of 3 meters was used and constrained to
geological rock types. A single block model (20 x 20 x 15 meters) was
created to envelope both mineralized deposits. Block grades were
interpolated using ordinary kriging method. The estimate did not employ
a high grade copper cap. A density (specific gravity) of 2.70 g/cm(3) was used for the deposit (porphyry style mineralization). All QA/QC
requirements have been followed including incorporating standards,
blanks and duplicates into the assay procedures and independent check
analyses by a second laboratory.

T.W. Hodson, P.Geo. has reviewed and approved the technical disclosure
contained in this news release.   Mr. Hodson is a qualified person as
defined by NI 43-101, and is the V.P Exploration of Catalyst.

ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.

Terence W. Hodson, P.Geo.

TERENCE HODSON, V.P. EXPLORATION

Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and unknown
risks and uncertainties. These forward-looking statements are subject
to numerous risks and uncertainties, certain of which are beyond the
control of the Company, including, but not limited to, risks associated
with mineral exploration and mining activities, the impact of general
economic conditions, industry conditions, dependence upon regulatory
approvals, and the uncertainty of obtaining additional financing.
Readers are cautioned that the assumptions used in the preparation of
such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.

Quality Assurance: The Company employs a system of quality control for
drill results which includes the use of blanks, certified reference
materials (standards) and check assaying. Core is logged on site and
split with a diamond saw. Samples are shipped to Acme Analytical
Laboratories Ltd. for analysis. All elements with the exception of gold
are analyzed by Aqua Regia digestion and ICP-ES analysis. Gold is
analyzed by fire assay method.

Table 2


                                                      Tetra Tech Resource Model
                                                          September 19, 2012

      Class    Cu COG       Tonnes     Cu%    Au     Ag           Cu lbs   Au ozs        Ag ozs
                                              g/t    g/t

    Ms+Ind     >=0.100   664,563,000   0.30   0.03   2.0   4,439,000,000   613,000   42,000,000 

               >=0.200   407,969,000   0.41   0.03   2.4   3,661,000,000   446,000   32,000,000

               >=0.300   266,379,000   0.50   0.04   2.7   2,907,000,000   326,000   24,000,000

    Inferred   >=0.100   765,040,000   0.24   0.02   1.4   3,997,000,000   464,000   34,000,000

               >=0.200   337,838,000   0.37   0.02   1.9   2,748,000,000   256,000   21,000,000

               >=0.300   187,983,000   0.47   0.03   2.4   1,956,000,000   153,000   14,000,000


                                                       Tetra Tech Resource Model
                                                           January 19, 2012

      Class    Cu COG       Tonnes     Cu%    Au g/t   Ag         Cu lbs     Au ozs       Ag ozs
                                                       g/t

    Ms+Ind     >=0.100   552,447,000   0.31   0.0374   2.0   3,798,000,000   651,000   35,000,000

               >=0.200   354,077,000   0.42   0.043    2.3   3,173,000,000   486,000   26,000,000

               >=0.300   216,275,000   0.51   0.0485   2.6   2,442,000,000   333,000   18,000,000

    Inferred   >=0.100   376,709,000   0.27   0.040    1.6   2,210,000,000   484,000   20,000,000

               >=0.200   181,739,000   0.40   0.062    2.3   1,618,000,000   362,000   13,000,000

               >=0.300                 0.54   0.0869   2.9   1,185,000,000   273,000    9,000,000
                         99,439,000

 


    Notes: 1. It cannot be assumed that all or any part of an Inferred
           Mineral Resource will be upgraded to an Indicated or
           Measured Resource as a result of continued exploration.

           2. Mineral Resources are not Mineral Reserves as there is
           insufficient studies to demonstrate economic viability.

           3. The Mineral Resource is an in situ total without constraints
           to an economic pit.

               Ms = Measured    Cu%  = copper       Cu lbs = copper pounds
                    Resources          percent                

             Ind  = Indicated Au g/t = gold grams    Au oz = gold ounces
                    Resources          per tonne

             Inf  = Inferred  Ag g/t = silver grams  Ag oz = silver ounces
                    Resources          per tonne              

                              grams to
                                  troy

                       Copper
           Cu COG =   cut-off     oz = grams/31.103
                        grade

 

 

 

 

 

SOURCE Catalyst Copper Corp.


Source: PR Newswire