Trading Symbol: CCY
VANCOUVER, Aug. 5 /PRNewswire-FirstCall/ - Catalyst Copper
Corp. (the "Company" or "Catalyst") is pleased to announce the
contracting of Micon International Ltd. ("Micon") to complete a NI
43-101 compliant resource estimate for the La Verde copper-gold porphyry project located
in Michoacan State, Mexico which
Catalyst's holds under option from a subsidiary of Teck Resources
Limited. This resource estimate will incorporate all previously
completed drill holes as well as drill data from the current drill
program in progress.
Several historic mineral resource estimates have been generated
at La Verde, but are not compliant
with current CIMM and NI 43-101 guidelines. The last publicly
released historic mineral resource of 72.6 million tonnes at an
average grade of 0.7% copper was included in the 1972 feasibility
study completed on behalf of Lytton Minerals Ltd. and was
calculated prior to the enactment of NI 43-101.
Currently Catalyst has completed 4967 meters in 10 drill holes
of the planned 10,000 meter program. Phase 1 of this drill program
was designed to twin a number of the 1970's drill holes in order to
verify historical grades and Phase 2 targeted extensions of known
Cu-Au mineralized drill intersections.
All current drill holes have encountered visual copper
mineralization as reported in the historical drill holes. To date,
all completed holes drilled to twin historic holes have been
extended past the original depth on the basis of the presence of
visible copper mineralization (Table 1). Assay results are pending.
Core samples are being sent to Acme Labs of Vancouver for analysis.
Table I
Drill hole Original Twin Area
Depth (m) Depth (m)
V-012 259.8 425.4 (in progress) East Hill
V-013 276.5 499.3 East Hill
V-014 167.0 349.2 East Hill
V-038 243.9 564.9 East Hill
V-076 108.7 398.9 East Hill
V-015 310.3 659.0 West Hill
V-017 276.0 254.8 (in progress) West Hill
V-019 276.0 660.9 West Hill
V-021 321.8 671.6 West Hill
V-047 460.7 583.4 West Hill
The Induced Polarization (IP) survey (geophysical program) is
continuing with 100.6 line kilometres completed to date and 35
kilometres remaining to be completed. Areas which have returned
interesting IP responses are being filled in with closer spaced
lines where warranted. In particular, the process of investigating
a magnetic signature in the southern part of the property led to
the discovery of anomalous IP responses on 3 lines, 450 metres
apart and still open along strike. This is regarded as very
encouraging as previous geological and geophysical programs at
La Verde demonstrated a strong
association between anomalous IP responses and porphyry copper
mineralization. Additional lines have now been laid out in this
area to provide more detailed coverage.
Catalyst Copper is a Vancouver-based publicly traded mine
development company (TSX-V: CCY) that optioned the La Verde copper porphyry project in
Michoacan, Mexico from a
subsidiary of Teck Resources Limited (see December 8, 2009 news release for complete option
details).
ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.
"Terence W. Hodson"
TERENCE W. HODSON, V.P. EXPLORATION
T.W. Hodson is the qualified
person as defined by National Instrument 43-101, and has reviewed
the technical disclosure contained herein and accepts
responsibility for such disclosure.
Reference may be made in this press release to historic minerals
resource estimates. None of these are NI43-101 compliant and a
qualified person has not done sufficient work to classify these
historic estimates a current mineral resource. They should not be
relied upon and Catalyst does not treat them as current mineral
resources.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.
SOURCE Catalyst Copper Corp.
Copyright g. 5 PR Newswire