Trading Symbol: CCY
VANCOUVER,
May 2 /PRNewswire/ - Catalyst
Copper Corp. (the "Company" or "Catalyst") today
announced assay results for the latest two drill holes completed on
the La Verde copper porphyry
project in Michoacán state, Mexico. Hole LV11-016 drilled on the West Hill
deposit returned an average of 0.363 %Cu and 0.005 g/t Au over
867.9 meters. Hole LV11-017 targeted the East Hill deposit and returned 0.413 %Cu,
0.078 g/t Au and 0.005 %Mo over 390.4 meters (See Table 1
below).
"Delineation and expansion drill holes in La Verde's twin copper-gold porphyry deposits
are consistently returning copper and precious metal values over
significant intervals," says Catalyst's VP Exploration Terry
Hodson. "These two deposits are located in an area with excellent
infrastructure, are separated by 800 meters, both outcrop at
surface near the top of a low ridge and are amenable to low cost
open pit mining methods. Based on my years of experience as a
geologist evaluating mineral deposits, La
Verde is one of the most attractive porphyry copper deposits
with which I have been associated."
Hole LV11-016, drilled at -50° to the north, was designed to
improve resource definition on West Hill deposit section 810850E
(See Image 1). Numerous copper (chalcopyrite) rich veins and
lesser fracture controlled and disseminated mineralization was
intersected. This hole was extended to 894.45 meters, the maximum
depth capability of the drill rig as mineralization continued to
depth. Results for the upper in-fill portion of this hole returned
results close to expectations and provided more definition of the
mineralization on this section. The lower portion of the hole
clearly extends mineralization 150 to 200 meters below the pit
shells shown in Figure 1 (Also see Catalyst press release
April 19, 2011). This drill hole plus
others on this cross section outline potential for expansion of
West Hill resources to the north into an area with a 500 meter
vertical gap between drill holes. In an east-west direction
historical drilling shows this same gap extends for more than 300
meters (sections 810650E to 810950E).
Hole LV11-017 drilled on East
Hill section 811900E (See Image 2) at -50° to the north
targeted an area of Inferred Resources located below two older
holes on this section. And, as was seen with LV11-016, this drill
hole also extended mineralization to depth below the recently
completed pit shells. Potentially recoverable gold, molybdenum and
silver values are associated with the East Hill deposit as indicated by the LV11-017
intersection which contained 0.413 %Cu; 0.078 g/t Au; 0.005 %Mo;
3.2 g/t Ag over 390.4 meters (320.6 to 711.0m) including 1.219 %Cu;
0.236 g/t Au; 0.002 %Mo; 6.0 g/t Ag over 42.3 meters (542.4 to
584.7m).
Drilling at La Verde commenced
on January 28, 2011. As of
April 22, 2011 six holes had been
completed for a total of 4760 meters. Results for LV11-018 are
pending and drilling continues on LV11-019.
During 2011, Catalyst plans to drill a minimum of 20,000 meters
at La Verde. Additional work
planned for 2011 includes environmental studies, metallurgical test
work and updating the NI43-101 resource estimate to incorporate new
drill results.
TABLE 1 Significant assay results for LV11-016 and
LV11-017
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Drill Hole |
Location |
Dip |
Azm |
From(m) |
To(m) |
Length(m) |
Cu% |
Au g/t |
Mo% |
LV11-016 |
West Hill |
-50 |
000 |
7.6 |
875.5 |
867.9 |
0.363 |
0.005 |
0.001 |
|
|
|
incl |
74.7 |
78.6 |
3.9 |
2.799 |
0.031 |
0.006 |
|
|
|
incl |
197.6 |
210.5 |
12.9 |
0.524 |
0.009 |
0.001 |
|
|
|
incl |
231.5 |
249.2 |
17.7 |
0.610 |
0.023 |
0.002 |
|
|
|
incl |
275.1 |
293.0 |
17.9 |
0.828 |
0.007 |
0.001 |
|
|
|
incl |
355.5 |
374.9 |
19.4 |
0.835 |
0.005 |
0.001 |
|
|
|
incl |
404.5 |
449.5 |
45.0 |
0.337 |
0.010 |
0.001 |
|
|
|
incl |
449.5 |
512.9 |
63.4 |
0.910 |
0.005 |
0.004 |
|
|
|
incl |
559.1 |
563.5 |
4.4 |
2.107 |
0.006 |
0.001 |
|
|
|
incl |
688.1 |
704.2 |
16.1 |
2.023 |
0.004 |
0.002 |
|
|
|
incl |
750.0 |
875.5 |
125.5 |
0.602 |
0.008 |
0.003 |
LV11-017 |
East Hill |
-50 |
000 |
110.8 |
115.0 |
4.2 |
0.276 |
0.007 |
0.002 |
|
|
|
|
166.0 |
176.3 |
10.3 |
0.334 |
0.037 |
0.001 |
|
|
|
|
287.5 |
295.3 |
5.7 |
0.284 |
0.019 |
0.001 |
|
|
|
|
320.6 |
711.0 |
390.4 |
0.413 |
0.078 |
0.005 |
|
|
|
incl |
320.6 |
358.4 |
37.7 |
0.444 |
0.093 |
0.002 |
|
|
|
incl |
373.9 |
407.1 |
33.2 |
0.261 |
0.061 |
0.011 |
|
|
|
incl |
428.9 |
473.8 |
44.9 |
0.517 |
0.106 |
0.005 |
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|
|
incl |
542.4 |
584.7 |
42.3 |
1.219 |
0.236 |
0.002 |
|
|
|
incl |
652.0 |
711.0 |
59.0 |
0.277 |
0.053 |
0.003 |
|
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|
|
720.0 |
729.1 |
9.1 |
0.244 |
0.028 |
0.005 |
|
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|
|
797.7 |
804.9 |
7.22 |
0.288 |
0.046 |
0.001 |
|
|
|
|
876.9 |
892.9 |
16.0 |
0.272 |
0.024 |
0.002 |
A map showing previous and current drill holes is available on
the Catalyst website at www.catalystcopper.com.
T.W. Hodson, P.Geo. 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.
About La
Verde
La Verde is
located in an area with excellent infrastructure. Power, rail and
water all cross the property. Lazaro
Cardenas, Mexico's third largest port on the Pacific Ocean
coast is 180 km from the site. Significant upside potential remains
for the two known zones of porphyry style copper, gold and
molybdenum mineralization as the 2010 drill program has shown both
deposits remain open to depth and along strike.
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.
To view La Verde West Hill and La Verde East
Hill map please click http://files.newswire.ca/949/Catalyst.doc
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 analysis. All elements
with the exception of gold are analyzed by Aqua Regia digestion and
ICP-ES analysis. Gold is analyzed by fire assay method.
SOURCE Catalyst Copper Corp.