Capstone Reports Additional High Grade Copper-Gold Intercepts from the Copper Keel Deposit at the Minto Mine
May 02 2011 - 7:00AM
PR Newswire (Canada)
VANCOUVER, May 2 /CNW/ -- 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 /CNW/
- 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|From | To |Interval |Interval |Copper |Gold
|Silver| | | Area | (m) | (m) | (m) | (ft) | (%) |(g/t)|(g/t) |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|11SWC-762|Copper|265.3|279.6| 14.3 | 46.9 | 2.10 |0.58 | 7.0 | | |
Keel | | | | | | | |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|including| |269.3|274.0| 4.7 | 15.4 | 4.74 |1.16 | 15.4 |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|11SWC-765|Copper|268.1|289.0| 20.9 | 68.6 | 2.00 |0.66 | 6.1 | | |
Keel | | | | | | | |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|including| |271.8|276.8| 5.0 | 16.4 | 3.12 |0.90 | 9.1 |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|11SWC-770|Copper|327.5|333.6| 6.1 | 20.0 | 4.57 |3.60 | 27.8 | | |
Keel | | | | | | | |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|including| |327.5|331.2| 3.7 | 12.1 | 5.41 |3.43 | 29.8 |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|11SWC-777|Copper|350.0|358.2| 8.2 | 26.9 | 3.20 |1.75 | 14.5 | | |
Keel | | | | | | | |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|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 |Target|From | To |Interval|Interval|Copper |Gold |Silver
| | & | | (m) | (m) | | | (%) |(g/t)| (g/t) | |Interval | | | |
(m) | (feet) | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-759|Copper|255.0|277.9| 22.9 | 75.1 | 0.88 |0.22 | 1.9 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|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|121.7|124.6| 2.9 | 9.5 | 1.62 |0.21 | 0.6 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| 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|254.6|274.6| 20.0 | 65.6 | 1.20 |0.46 | 5.3 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|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|265.3|279.6| 14.3 | 46.9 | 2.10 |0.58 | 7.0 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|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|267.1|282.4| 14.3 | 46.9 | 1.31 |0.36 | 2.9 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |268.1|273.3| 5.2 | 17.1 | 1.88 |0.50 | 3.8 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-764|Copper|231.4|242.4| 11.0 | 36.1 | 1.13 |0.27 | 3.1 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-765|Copper|268.1|289.0| 20.9 | 68.6 | 2.00 |0.66 | 6.1 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |271.8|276.8| 5.0 | 16.4 | 3.12 |0.90 | 9.1 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-766|Copper|266.1|275.0| 8.9 | 29.2 | 1.62 |0.48 | 5.5 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-767|Copper|285.5|287.7| 2.2 | 7.2 | 0.53 |0.09 | 3.0 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| and | |305.7|312.0| 6.3 | 20.7 | 0.43 |0.10 | 1.4 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-768|Copper|252.4|263.4| 11.0 | 36.1 | 0.66 |0.16 | 1.2 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| 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|277.0|289.9| 12.9 | 42.3 | 1.23 |0.37 | 3.6 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |279.0|287.0| 8.0 | 26.2 | 1.75 |0.50 | 4.7 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-770|Copper|275.8|280.6| 4.8 | 15.7 | 1.29 |0.31 | 2.3 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| 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|252.8|265.2| 12.4 | 40.7 | 1.45 |0.34 | 2.4 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-772|Copper|302.7|313.6| 10.9 | 35.8 | 1.24 |0.83 | 7.5 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |310.9|313.6| 2.7 | 8.9 | 1.90 |1.85 | 16.4 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-773|Copper|255.4|265.8| 10.4 | 34.1 | 1.04 |0.26 | 1.7 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |255.4|260.0| 4.6 | 15.1 | 1.43 |0.34 | 1.8 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-774|Copper|298.4|301.3| 2.9 | 9.5 | 0.62 |0.25 | 2.0 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| and | |345.7|349.3| 3.6 | 11.8 | 1.23 |0.70 | 7.0 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-776|Copper|343.0|349.0| 6.0 | 19.7 | 1.12 |0.44 | 11.9 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-777|Copper|309.9|314.2| 4.3 | 14.1 | 0.84 |0.37 | 1.9 | | |
Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| 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| Geochemically Anomalous - No Significant | | |
Keel | Intersections |
|_________|______|____________________________________________________|
To view this news release in HTML formatting, please use the
following URL:
http://www.newswire.ca/en/releases/archive/May2011/02/c8254.html p
Capstone Mining Corp.br/ Cindy Burnett, VP, Investor Relationsbr/
Telephone: 604-637-8157br/ Email: a
href="mailto:cburnett@capstonemining.com"cburnett@capstonemining.com/abr/
Website: a
href="http://www.capstonemining.com"www.capstonemining.com/a b /b
/p
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