Trading Symbol: CCY
VANCOUVER,
Feb. 1 /PRNewswire/ - Catalyst Copper
Corp. (Catalyst or the Company) announced today that it has filed
on SEDAR a NI 43-101 compliant report entitled "Technical Report
on the Mineral Resources of the La Verde Property, Michoacán State,
Mexico, January 19, 2011". The report was prepared by
D. Makepeace, P.Eng., senior geologist for Micon Engineering
International Ltd. (Micon) who is an independent qualified person
as defined by NI 43-101.
Total Measured, Indicated and Inferred Resources determined for
La Verde are listed below.
Measured, Indicated and Inferred Resources
Total East Hill plus West Hill
|
|
|
|
|
|
|
|
|
Cu% Cut-Off |
|
Measured+Indicated
Tonnes |
|
Cu% |
|
Inferred
Tonnes |
|
Cu% |
0.1 |
|
341,923,500 |
|
0.33 |
|
189,027,450 |
|
0.33 |
0.2 |
|
207,174,900 |
|
0.45 |
|
114,824,500 |
|
0.45 |
0.3 |
|
139,680,700 |
|
0.55 |
|
76,866,350 |
|
0.54 |
0.4 |
|
91,579,350 |
|
0.66 |
|
49,044,450 |
|
0.65 |
0.5 |
|
58,126,050 |
|
0.78 |
|
30,304,550 |
|
0.78 |
|
|
|
|
|
|
|
|
|
- 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.
- Mineral Resources are not Mineral Reserves because there are
insufficient studies to demonstrate economic viability.
- The Mineral Resource is a global in-situ total without
constraints to an economic pit.
- Mineral Resource numbers have been rounded and may not add up
in the above table
The above numbers correct an error found in the compositing
routine associated with the software Micon used to construct the
resource model. At the 0.2% Cu cut-off the Resources published in
the January 21, 2011 Catalyst press
release were Measured plus Indicated of 210.5M tonnes at 0.46% Cu
and Inferred of 130.8M tonnes at 0.45% Cu.
The 2011 drill program at La Verde has commenced with the first drill
hole collared on January 29.
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 report was prepared by D. Makepeace, P.Eng.,
senior geologist for Micon who is 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 was based on 616
drill holes which totalled 92,881 meters. A composite interval of 5
meters was used and constrained to geological rock types. A single
block model (10 x 10 x 10 meters) was created to envelope both
mineralized deposits. Block grades were interpolated using the
inverse distance squared technique. The estimate did not employ a
high grade copper cap. A density (specific gravity) of 2.70
g/cm3was used for the East
Hill deposit (porphyry style mineralization) while the West
Hill deposit (chalcopyrite vein style mineralization) used 2.75
g/cm3, based on historical density measurements. 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.
Catalyst Copper is a Vancouver-based publicly traded mine
development company (TSX-V: CCY) that optioned the La Verde copper porphyry target from a
subsidiary of Teck Resources Limited.
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 geochemical analysis of
copper with all values of greater than 1.000 parts per million
copper being reanalyzed by assay methods for copper, gold and
silver.
SOURCE Catalyst Copper Corp.
Copyright b. 1 PR Newswire