Hole 10SWC770 intercepts 4.6% Cu & 3.6g/t
Au over 6.1m including 5.4% Cu & 3.4g/t Au over
3.7m
Hole 10SWC777 intercepts 3.2% Cu & 1.8g/t Au over 8.2m
including 4.5% Cu & 2.0g/t Au over 4.0m
VANCOUVER,
May 2 /PRNewswire/ - Capstone Mining
Corp. (TSX: CS) announced assay results today for the first
nineteen drill holes from the Copper Keel deposit completed this
winter at the Minto Mine in the Yukon. Highlights from the first phase of the
2011 exploration holes are summarized in the table below, with
complete results attached.
"The first phase of the 2011 program expanded the extents of the
Copper Keel deposit and demonstrate that it is continuous to
contiguous with the deeper levels of the Area 2/118 deposit,
located to the northwest of Copper Keel and south of the Minto Main
Pit," said Brad Mercer,
Vice-President of Exploration for Capstone. "A new resource model,
which is nearing completion, is expected to integrate the
Wildfire/Copper Keel deposit into a larger framework that will
combine the Area 2/118 and the Wildfire/Copper Keel deposits into
one resource model. This will facilitate a more seamless approach
for optimizing the development of a group of spatially and
genetically related deposits in a tandem approach of open pit and
underground mining where open pit pre-stripping of waste has
already begun.
Highlights of Recent Drilling at Copper
Keel
Hole ID |
Target Area |
From
(m) |
To
(m) |
Interval
(m) |
Interval
(ft) |
Copper
(%) |
Gold
(g/t) |
Silver
(g/t) |
11SWC-762 |
Copper Keel |
265.3 |
279.6 |
14.3 |
46.9 |
2.10 |
0.58 |
7.0 |
including |
|
269.3 |
274.0 |
4.7 |
15.4 |
4.74 |
1.16 |
15.4 |
11SWC-765 |
Copper Keel |
268.1 |
289.0 |
20.9 |
68.6 |
2.00 |
0.66 |
6.1 |
including |
|
271.8 |
276.8 |
5.0 |
16.4 |
3.12 |
0.90 |
9.1 |
11SWC-770 |
Copper Keel |
327.5 |
333.6 |
6.1 |
20.0 |
4.57 |
3.60 |
27.8 |
including |
|
327.5 |
331.2 |
3.7 |
12.1 |
5.41 |
3.43 |
29.8 |
11SWC-777 |
Copper Keel |
350.0 |
358.2 |
8.2 |
26.9 |
3.20 |
1.75 |
14.5 |
including |
|
350.0 |
354.0 |
4.0 |
13.1 |
4.49 |
2.01 |
20.6 |
Work on an initial resource estimate for the combined
Wildfire/Copper Keel copper-gold deposit is nearing completion and
is expected to be ready before the end of the second quarter of
2011. An updated resource estimate will also be prepared once the
second phase of the 2011 drill campaign is completed, sometime in
late summer.
2011 Exploration Plans at Minto
Drilling operations that are now paused for spring freshet are
anticipated to resume in mid to late May once ground conditions
have dried out at Copper Keel (which is still open to the east,
northeast and northwest) and at Inferno, a new prospect discovered
late last year. There are 15,960 metres of drilling remaining in
the 2011 program out of a total program of 33,750 metres, which is
expected to take seven to nine weeks to complete once drilling
resumes. Construction of drill pads at Inferno, located a few
hundred metres northeast of the Main Pit and mill, has begun.
Further drill results will be released over the coming months
once they have been received and checked. Assay data for 25 holes
drilled in the Copper Keel region are still outstanding.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability. Mineral resource estimates
do not account for mineability, selectivity, mining loss and
dilution. There is also no certainty that mineral resources will be
converted to mineral reserves through further drilling and once
economic considerations are applied.
Drill Hole Location Maps
For current drillhole locations please view the accompanying
map:
http://capstonemining.com/i/maps/2011-13CSCurrentDrillHoleLocations.jpg
For a current view of drill results in the Wildfire/Copper Keel
area please view the accompanying map:
http://capstonemining.com/i/maps/2011-13MintoDrillResultsUpdate.jpg
To see a recent panoramic view of the Area 2 open pit please
view the accompanying photo:
http://capstonemining.com/i/maps/2011-13Area2PrestripPanoramicView.jpg
Quality Assurance
The technical information in this news release has been prepared
in accordance with Canadian regulatory requirements set out in
National Instrument 43-101 Standards of Disclosure for Mineral
Projects of the Canadian Securities Administrators ("NI 43-101")
and reviewed by Brad Mercer, P.
Geol., VP, Exploration of Capstone, a ("Qualified Person") as
defined in National Instrument 43-101.
The analytical method for the copper and silver analyses is aqua
regia digestion of the samples followed by atomic absorption
spectroscopy. Gold is analysed by fire assay fusion with
atomic absorption spectroscopy finish for gold. Analyses are
carried out by ALS CHEMEX in North
Vancouver. When visible gold is noted in drill core samples
or regular fire assay values appear abnormally high, the pulp and
screen metallic assay method is used to determine the total gold
content and gold contents of different size fractions. This is
considered industry best practice when dealing with coarse gold
mineralization where a nugget effect is suspected. This
determination is accepted as the most representative value and is
used in the assay database for mineral resource calculations. Blank
and standard samples are used for quality assurance and quality
control. Where more than two check samples assay outside
expected ranges, the entire batch is re-assayed. After the
completion of planned drill programs at Minto, random check assays will be carried out
by Inspectorate-IPL of Vancouver.
Forward-Looking Information
This document may contain "forward-looking
information" within the meaning of Canadian securities legislation
and "forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995
(collectively, "forward-looking statements"). These forward-looking
statements are made as of the date of this document and Capstone
Mining Corp. (the "Company") does not intend, and does not assume
any obligation, to update these forward-looking statements, except
as required under applicable securities legislation.
Forward-looking statements relate to future
events or future performance and reflect Company management's
expectations or beliefs regarding future events and include, but
are not limited to, statements with respect to the estimation of
mineral reserves and resources, the realization of mineral reserve
estimates, the timing and amount of estimated future production,
costs of production, capital expenditures, success of mining
operations, environmental risks, unanticipated reclamation
expenses, title disputes or claims and limitations on insurance
coverage. In certain cases, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved" or the
negative of these terms or comparable terminology. By their very
nature forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, among others, risks related to actual results of
current exploration activities; changes in project parameters as
plans continue to be refined; future prices of mineral resources;
possible variations in ore reserves, grade or recovery rates;
accidents, labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing or in the
completion of development or construction activities; as well as
those factors detailed from time to time in the Company's interim
and annual financial statements and management's discussion and
analysis of those statements, all of which are filed and available
for review on SEDAR at www.sedar.com. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements.
Accordingly, readers should not place undue
reliance on forward-looking statements.
Details of 2011 Wildfire/Copper Keel
First Phase Drill Results
To accompany Capstone Mining News Release Dated May 2, 2011
Hole ID
& Interval |
Target |
From
(m) |
To
(m) |
Interval
(m) |
Interval
(feet) |
Copper
(%) |
Gold
(g/t) |
Silver
(g/t) |
11SWC-759 |
Copper Keel |
255.0 |
277.9 |
22.9 |
75.1 |
0.88 |
0.22 |
1.9 |
including |
|
256.0 |
264.4 |
8.4 |
27.6 |
1.72 |
0.39 |
2.8 |
including |
|
256.0 |
261.7 |
5.7 |
18.7 |
1.99 |
0.41 |
3.3 |
|
|
|
|
|
|
|
|
|
11SWC-760 |
Copper Keel |
121.7 |
124.6 |
2.9 |
9.5 |
1.62 |
0.21 |
0.6 |
and |
|
258.9 |
272.2 |
13.3 |
43.6 |
1.81 |
0.43 |
4.4 |
including |
|
262.6 |
267.3 |
4.7 |
15.4 |
2.85 |
0.49 |
5.1 |
including |
|
262.6 |
264.6 |
2.0 |
6.6 |
3.76 |
0.60 |
6.4 |
|
|
|
|
|
|
|
|
|
11SWC-761 |
Copper Keel |
254.6 |
274.6 |
20.0 |
65.6 |
1.20 |
0.46 |
5.3 |
including |
|
259.8 |
264.6 |
4.8 |
15.7 |
2.30 |
0.67 |
7.7 |
including |
|
259.8 |
262.2 |
2.4 |
7.9 |
3.45 |
0.84 |
8.9 |
|
|
|
|
|
|
|
|
|
11SWC-762 |
Copper Keel |
265.3 |
279.6 |
14.3 |
46.9 |
2.10 |
0.58 |
7.0 |
including |
|
269.3 |
274.0 |
4.7 |
15.4 |
4.74 |
1.16 |
15.4 |
including |
|
269.3 |
272.1 |
2.8 |
9.2 |
6.50 |
1.51 |
21.3 |
|
|
|
|
|
|
|
|
|
11SWC-763 |
Copper Keel |
267.1 |
282.4 |
14.3 |
46.9 |
1.31 |
0.36 |
2.9 |
including |
|
268.1 |
273.3 |
5.2 |
17.1 |
1.88 |
0.50 |
3.8 |
|
|
|
|
|
|
|
|
|
11SWC-764 |
Copper Keel |
231.4 |
242.4 |
11.0 |
36.1 |
1.13 |
0.27 |
3.1 |
|
|
|
|
|
|
|
|
|
11SWC-765 |
Copper Keel |
268.1 |
289.0 |
20.9 |
68.6 |
2.00 |
0.66 |
6.1 |
including |
|
271.8 |
276.8 |
5.0 |
16.4 |
3.12 |
0.90 |
9.1 |
|
|
|
|
|
|
|
|
|
11SWC-766 |
Copper Keel |
266.1 |
275.0 |
8.9 |
29.2 |
1.62 |
0.48 |
5.5 |
|
|
|
|
|
|
|
|
|
11SWC-767 |
Copper Keel |
285.5 |
287.7 |
2.2 |
7.2 |
0.53 |
0.09 |
3.0 |
and |
|
305.7 |
312.0 |
6.3 |
20.7 |
0.43 |
0.10 |
1.4 |
|
|
|
|
|
|
|
|
|
11SWC-768 |
Copper Keel |
252.4 |
263.4 |
11.0 |
36.1 |
0.66 |
0.16 |
1.2 |
and |
|
285.0 |
286.5 |
1.5 |
4.9 |
0.99 |
0.47 |
3.6 |
and |
|
295.9 |
302.0 |
6.1 |
20.0 |
1.16 |
0.65 |
8.5 |
including |
|
297.3 |
302.0 |
4.7 |
15.4 |
1.33 |
0.79 |
10.7 |
|
|
|
|
|
|
|
|
|
11SWC-769 |
Copper Keel |
277.0 |
289.9 |
12.9 |
42.3 |
1.23 |
0.37 |
3.6 |
including |
|
279.0 |
287.0 |
8.0 |
26.2 |
1.75 |
0.50 |
4.7 |
|
|
|
|
|
|
|
|
|
11SWC-770 |
Copper Keel |
275.8 |
280.6 |
4.8 |
15.7 |
1.29 |
0.31 |
2.3 |
and |
|
327.5 |
333.6 |
6.1 |
20.0 |
4.57 |
3.60 |
27.8 |
including |
|
327.5 |
331.2 |
3.7 |
12.1 |
5.41 |
3.43 |
29.8 |
|
|
|
|
|
|
|
|
|
11SWC-771 |
Copper Keel |
252.8 |
265.2 |
12.4 |
40.7 |
1.45 |
0.34 |
2.4 |
|
|
|
|
|
|
|
|
|
11SWC-772 |
Copper Keel |
302.7 |
313.6 |
10.9 |
35.8 |
1.24 |
0.83 |
7.5 |
including |
|
310.9 |
313.6 |
2.7 |
8.9 |
1.90 |
1.85 |
16.4 |
|
|
|
|
|
|
|
|
|
11SWC-773 |
Copper Keel |
255.4 |
265.8 |
10.4 |
34.1 |
1.04 |
0.26 |
1.7 |
including |
|
255.4 |
260.0 |
4.6 |
15.1 |
1.43 |
0.34 |
1.8 |
|
|
|
|
|
|
|
|
|
11SWC-774 |
Copper Keel |
298.4 |
301.3 |
2.9 |
9.5 |
0.62 |
0.25 |
2.0 |
and |
|
345.7 |
349.3 |
3.6 |
11.8 |
1.23 |
0.70 |
7.0 |
|
|
|
|
|
|
|
|
|
11SWC-776 |
Copper Keel |
343.0 |
349.0 |
6.0 |
19.7 |
1.12 |
0.44 |
11.9 |
|
|
|
|
|
|
|
|
|
11SWC-777 |
Copper Keel |
309.9 |
314.2 |
4.3 |
14.1 |
0.84 |
0.37 |
1.9 |
and |
|
350.0 |
358.2 |
8.2 |
26.9 |
3.20 |
1.75 |
14.5 |
including |
|
350.0 |
354.0 |
4.0 |
13.1 |
4.49 |
2.01 |
20.6 |
|
|
|
|
|
|
|
|
|
11SWC-778 |
Copper Keel |
Geochemically Anomalous
- No Significant Intersections |
SOURCE Capstone Mining Corp.