Drilling Continues to Encounter Strong Mineralization North of Pit 1
VANCOUVER, Feb. 7 /PRNewswire-FirstCall/ — Copper Mountain Mining Corporation ("CMMC" or the "Company) announces assay results from the last 32 drill holes of the 2007 exploration program at the 100% owned Copper Mountain project. Six drill-holes were completed immediately north of Pit 1, fifteen drill-holes to the northeast and northwest of Pit 2, five drill-holes in the Saddle Zone between Pit 1 and Pit 3, and seven drill-holes in the northeast wall of Pit 3.
The drill holes were completed during December, 2007, and were primarily drilled to convert areas of inferred resources within the preliminary designed "Super-Pit" to the measured and indicated categories in advance of the Feasibility Study, which is currently underway and expected to be completed early in 2008. Additionally, where drill-holes encountered significant mineralization near the edge of the design pit, more holes were drilled resulting in extensions beyond the pit boundary (see attached map).
Key results from the five areas of drilling are: - Drill-holes CM07P2-78-81, 83, and 85-90 were drilled to the north- east of Pit 2, in the entrance ramp area and intersected numerous, narrow to moderate length, intersections which will likely result in an extension and deepening of the design pit in this area. Of significance, CM07P2-89 intersected 67 feet grading 0.98% Cu, 0.34g/t Au and 4.34g/t Ag, starting at 23'. - Drill-holes CM07P2-77 and 82 were collared 300' west of the north- western edge of Pit2 and intersected relatively continuous mineralization including 360 feet of 0.29% Cu, 0.13g/t Au and 0.9g/t Ag starting at 47'; which provides low-strip material for additional pit expansion. - Drill-holes P1-02 to 06, were collared between 200 and 800 feet north of Pit 1 in an area of sparse drilling and inferred resources. All of these holes contained significant intersections, many of which are above average in grade. In particular, CM07P1-04 intersected 60 feet grading 1.03% Cu, 0.18g/t Au and 3.23g/t Ag from 275 to 335'; and the bottom of CM07P1-06 intersected 215 feet grading 0.85% Cu, 0.45g/t Au and 4.93g/t Ag. - Drill-holes QA5 to QA9, are short holes within the saddle zone located between Pits 1 and 3, and did not intersect any significant near-surface mineralization. - Seven holes were drilled in the northeast wall of Pit 3 in order to upgrade the classification of an area of inferred blocks within the resource estimate. Results were mixed, but CM07P3-05 returned an intersection of 90 feet grading 0.75% Cu, 0.10g/t Au and 1.98g/t Ag.
A total of 44,000m (144,000 feet) of drilling was completed in 163 drill holes in 2007. Completion rate for drill holes was 94%. The 2007 drill program had three primary objectives: 1) to provide enough data to upgrade inferred resources to the indicated and measured categories; 2) to validate and confirm the historical data; and 3) to provide additional drill information peripheral to, and between, the existing open pits; and at depth in order to delineate additional resources. The interim resource estimate (Sept. 06, 2007) demonstrated that the program had been highly successful in achieving all of the objectives to that point and it is anticipated that the additional drilling since then will be equally successful. All of 2007 drill results will be added to the historical database for an updated, independent 43-101 compliant resource estimate which is anticipated early in 2008.
Most of the more significant intersections from drill-holes announced in this press release are listed in the table below and shown on the attached map. A complete list of the significant intersections from all of the 2007 drilling can be found on the company’s website. It should be noted that there are numerous narrow or low-grade zones within the drill holes that are not reported but that still contribute to the resource estimate.
The mineralized system at Copper Mountain is classified as a bulk-tonnage, alkalic porphyry copper-gold deposit that is hosted within Nicola Group volcanic rocks. Mineralization is structurally controlled and focused at multi-directional vein intersections and within vein stockwork systems. Drill holes are usually drilled at angles of -45 or -55 degrees to provide the best indication of the lateral extents of vertically oriented mineralization.
The Copper Mountain project is situated 300 km east of Vancouver, British Columbia. The Copper Mountain project is a former producer of 1.7 billion pounds of copper and has extensive infrastructure in place, including power and water. The site can be accessed year round as a paved highway goes right to site.
Quality Assurance
The company employs a system of quality control for drill results which includes the use of blanks, certified reference material (standards) and check assaying. Core is logged on site and split with a diamond saw. Samples are shipped to Pioneer Laboratories for geochemical analysis of copper with all values of greater than 1000 ppm copper being re-analysed by assay methods for copper, gold and silver. The drilling program is being supervised by Peter Holbek, M.Sc., P.Geo., a qualified person as defined by National Policy Instrument 43-101.
About Copper Mountain Mining Corp.:
CMMC is a new public BC resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company owns 100% of Copper Mountain Project which holds the mineral claims and crown grants over the 18,000 acre mine site. Copper Mountain Mining Corp. has the goal of developing the Copper Mountain Project as a major copper and precious metal producer within the next three years. Additional information is available on the Company’s web page at http://www.cumtn.com/.
On behalf of the Board of COPPER MOUNTAIN MINING CORPORATION "Peter Holbek" Peter Holbek VP Exploration
Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at http://www.sedar.com/, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statement
COPPER MOUNTAIN MINING CORPORATION NEWS RELEASE DATED FEB 6th, 2008 - DRILLING ENCOUNTERS STRONG ------------------------------------------------------------- MINERALIZATION TO NORTH OF PIT ------------------------------ 1:INTERSECTS 215 FT. GRADING 0.85% Cu, 0.45 g/t Au, and 4.93 g/t Ag ------------------------------------------------------------------- ------------------------------------------------------------------------- Inter- Length From To val Cu Ag Au Hole ID Location (ft) Azi Dip (ft) (ft) (ft) Cu% EQ(x) g/T g/T ------------------------------------------------------------------------- CM07P2-76 SE 1007 39 -45 110 582 472 0.15 0.18 0.6 0.07 Corner Pit 2 ------------------------------------------------------------------------- CM07P2-77 NE of 947 39 -50 27 515 488 0.22 0.25 0.69 0.09 Pit 2 ------------------------------------------------------------------------- CM07P2-78 Pit 2 1207 129 -45 220 275 55 0.21 0.24 1.15 0.07 East ------------------------------------------------------------------------- 447 475 28 0.42 0.44 2.55 0.03 ------------------------------------------------------------------------- CM07P2-80 Pit 2 1055 129 -45 417 437 20 0.25 0.28 0.83 0.09 East ------------------------------------------------------------------------- 771 878 107 0.18 0.2 0.9 0.04 ------------------------------------------------------------------------- CM07P2-82 NW of 717 39 -55 47 407 360 0.29 0.34 0.9 0.13 Pit 2 ------------------------------------------------------------------------- incl. 47 267 220 0.37 0.43 1.05 0.16 ------------------------------------------------------------------------- CM07P2-83 Pit 2 807 129 -45 158 193 35 0.39 0.45 2.16 0.14 East Wall ------------------------------------------------------------------------- 484 519 35 0.48 0.54 2.71 0.14 ------------------------------------------------------------------------- 569 629 60 0.39 0.45 2.61 0.14 ------------------------------------------------------------------------- CM07P2-85 NE end 627 309 -54 47 89 42 0.4 0.44 1.81 0.1 of Pit 2 ------------------------------------------------------------------------- 190 258 68 0.47 0.52 1.35 0.13 ------------------------------------------------------------------------- CM07P2-86 NE end 817 309 -70 354 454 100 0.29 0.33 0.99 0.11 of Pit 2 ------------------------------------------------------------------------- CM07P2-87 NE end 981 129 -45 17 105 88 0.44 0.49 0.91 0.13 of Pit 2 ------------------------------------------------------------------------- CM07P2-88 NE end 887 309 -52 90 179 89 0.32 0.36 0.64 0.12 of Pit 2 ------------------------------------------------------------------------- 261 321 60 0.24 0.27 0.88 0.07 ------------------------------------------------------------------------- CM07P2-89 NE end 617 309 -45 23 90 67 0.98 1.12 4.34 0.34 of Pit 2 ------------------------------------------------------------------------- 147 237 84 0.38 0.43 1.7 0.13 ------------------------------------------------------------------------- CM07P2-90 NE end 1012 129 -45 27 264 225 0.24 0.28 0.86 0.11 of Pit 2 ------------------------------------------------------------------------- 855 1012 157 0.33 0.36 0.99 0.08 ------------------------------------------------------------------------- CM07P1-01 Pit 1 797 308 -58 580 620 40 0.31 0.35 1.08 0.09 South Wall ------------------------------------------------------------------------- CM07P1-02 Pit 1 1004 219 -57 105 145 40 0.55 0.58 1.2 0.07 North Wall ------------------------------------------------------------------------- 185 220 35 0.99 1.05 2.6 0.14 ------------------------------------------------------------------------- 610 725 115 0.86 0.96 2.84 0.25 ------------------------------------------------------------------------- incl. 65 260 195 0.36 0.38 0.97 0.05 ------------------------------------------------------------------------- CM07P1-03 Pit 1 600 219 -56 506.5 521.6 15.1 0.64 0.69 1.81 0.13 North Wall ------------------------------------------------------------------------- CM07P1-04 North 1053 219 -45 275 335 60 1.03 1.11 3.23 0.18 of Pit 1 ------------------------------------------------------------------------- CM07P1-05 North 997 219 -55 44 128 84 0.67 0.74 1.75 0.19 Wall Pit 1 ------------------------------------------------------------------------- CM07P1-06 North Wall ------------------------------------------------------------------------- Pit 1 1105 219 -57 30 125 125 0.41 0.44 1.02 0.08 ------------------------------------------------------------------------- 590 640 50 0.56 0.59 1.65 0.07 ------------------------------------------------------------------------- 890 1105 215 0.85 1.03 4.93 0.45 ------------------------------------------------------------------------- CM07QA-6 Queen 353 219 -45 180 288 108 0.2 0.22 1.06 0.04 Anne Zone ------------------------------------------------------------------------- CM07P3-01 Pit 3 1247 219 -45 810 862 52 0.51 0.55 1.74 0.09 NE Wall ------------------------------------------------------------------------- CM07P3-02 Pit 3 1257 219 -45 865 900 35 0.26 0.27 1.13 0.02 NE Wall ------------------------------------------------------------------------- 1214 1254 40 0.93 0.99 2.74 0.14 ------------------------------------------------------------------------- CM07P3-03 Pit 3 1040 219 -58 410 465 55 0.32 0.34 1.07 0.05 NE Wall ------------------------------------------------------------------------- 525 545 20 0.55 0.69 1.95 0.38 ------------------------------------------------------------------------- CM07P3-04 Pit 3 1040 219 -57 77 124 47 0.27 0.31 1.28 0.09 NE Wall ------------------------------------------------------------------------- 482 571 89 0.27 0.29 0.76 0.04 ------------------------------------------------------------------------- CM07P3-05 Pit 3 1477 219 -57 275 365 90 0.75 0.79 1.98 0.1 NE Wall ------------------------------------------------------------------------- 644 679 35 0.43 0.45 0.9 0.03 ------------------------------------------------------------------------- CM07P3-06 Pit 3 1228 219 -72 348 473 125 0.29 0.31 0.73 0.04 NE Wall ------------------------------------------------------------------------- 607 642 35 0.63 0.75 3.67 0.31 ------------------------------------------------------------------------- CM07P3-07 Pit 3 1167 219 -57 60 100 40 0.61 0.72 2.67 0.3 NE Wall ------------------------------------------------------------------------- 937 1007 70 0.53 0.58 1.54 0.12 ------------------------------------------------------------------------- (x) Based on metal prices of: Copper US $3.00/lb, Gold at US $675/Oz, and Silver at US $12/Oz with metallurgical recoveries and smelter terms being considered equivalent for all metals. CM07P2-84 lost in overburden. CM07P2-79,81 and CM07QA-5,7-9: no significant intersections.
CONTACT: Don Graham, Director, Investor Relations, (604) 682-2992 ext. 224, Email: don@CuMtn.com, Website: http://www.cumtn.com/ or B&D Capital, (604) 685-6465
Copper Mountain Mining Corporation
CONTACT: Don Graham, Director, Investor Relations, (604) 682-2992 ext.224, Email: don@CuMtn.com, Website: http://www.cumtn.com/ or B&D Capital, (604)685-6465