Trading Symbol: CCY
VANCOUVER,
June 6, 2011 /PRNewswire/ - Catalyst
Copper Corp. (the "Company" or "Catalyst") today
released assay results for a further two drill holes of the current
approximate 20,000 meter drill program in progress on the
La Verde copper porphyry project
in Michoacán state, Mexico.
Holes LV11-018 and LV11-019 were drilled on the
East Hill deposit. LV11-019
returned 0.206 g/t gold, 9.1 g/t silver and 0.76% copper over
175.04 meters from 239.0 to 414.34 meters. Hole LV11-018
returned 0.051 g/t gold, 4.2 g/t silver and 0.432% copper over
390.35 meters. Results from these two drill holes; the second
and third holes completed this year on the East Hill deposit, continue to confirm the
presence of potentially economic copper, gold, silver and
molybdenum values associated with the East Hill copper deposit (Table 1).
TABLE 1. 2011 Drill Results
Drill Hole
|
From
(metres) |
To
(metres) |
Length
(metres) |
Cu%
|
|
Au g/t
|
Ag g/t
|
Mo%
|
Location
|
| LV11-019 |
239.30 |
699.45 |
460.15 |
0.572 |
|
0.117 |
6.1 |
0.003 |
East Hill |
| Incl. |
239.30 |
414.34 |
175.04 |
0.760 |
|
0.206 |
9.1 |
0.003 |
|
| Incl. |
424.00 |
472.00 |
48.00 |
0.731 |
|
0.166 |
5.3 |
0.003 |
|
| Incl. |
582.43 |
624.25 |
41.82 |
0.943 |
|
0.009 |
10.0 |
0.003 |
|
| |
|
|
|
|
|
|
|
|
|
| LV11-018 |
486.20 |
876.55 |
390.35 |
0.432 |
|
0.051 |
4.2 |
0.004 |
East Hill |
| Incl. |
743.10 |
876.55 |
133.45 |
0.572 |
|
0.065 |
6.5 |
0.003 |
|
| |
|
|
|
|
|
|
|
|
|
| LV11-017 |
320.62 |
711.00 |
390.38 |
0.413 |
|
0.078 |
3.2 |
0.005 |
East Hill |
| Incl. |
496.82 |
633.70 |
136.88 |
0.653 |
|
0.118 |
4.0 |
0.002 |
|
| |
|
|
|
|
|
|
|
|
|
| LV11-016 |
7.60 |
875.49 |
876.89 |
0.363 |
|
0.005 |
-- |
-- |
West Hill |
| |
|
|
|
|
|
|
|
|
|
| LV11-015 |
14.90 |
40.95 |
26.05 |
0.310 |
|
0.017 |
-- |
-- |
West Hill |
| |
241.00 |
258.60 |
17.60 |
0.526 |
|
0.109 |
-- |
-- |
|
| |
505.00 |
519.15 |
14.85 |
0.439 |
|
0.003 |
-- |
-- |
|
| |
551.00 |
580.15 |
29.15 |
0.438 |
|
0.003 |
-- |
0.003 |
|
| |
|
|
|
|
|
|
|
|
|
| LV11-014 |
130.10 |
143.48 |
13.38 |
0.592 |
|
0.012 |
-- |
0.002 |
West Hill |
| |
312.00 |
330.90 |
18.90 |
0.498 |
|
0.018 |
-- |
-- |
|
| |
358.24 |
368.45 |
10.21 |
0.370 |
|
0.003 |
-- |
-- |
|
| |
409.30 |
419.80 |
10.50 |
0.787 |
|
0.003 |
-- |
-- |
|
| |
487.85 |
646.50 |
158.65 |
0.450 |
|
0.002 |
-- |
0.002 |
|
| |
|
|
|
|
|
|
|
|
|
| LV11-013 |
91.70 |
151.40 |
59.70 |
0.378 |
|
0.002 |
-- |
-- |
West Hill |
Assays for hole LV11-018 returned a significantly
longer mineralized intersection than intersected by the previous
drilling in this area and extended mineralization (copper, gold,
silver) to the south and to depth on this section. Drilled at -50°
to the north on Section 812000 East, this hole was designed to test
an area of inferred mineralization as defined by two holes located
above the target location (See Image One
http://files.newswire.ca/949/LaVerde_East_Image_1.doc).
Drill hole LV11-019, drilled on East Hill section 812150 East (Image Two
http://files.newswire.ca/949/LaVerde_East_Image_2.doc) at -50° to
the north, also targeted an area of inferred mineralization located
below previous holes on this section. This drill hole, located 150
meters east of LV11-018, returned results similar to hole LV11-018
and also cored a wider mineralized intersection than seen in the
previous holes on this section. Copper, gold, and silver values
were extended to the south and to depth, expanding the previously
defined resources on this section.
Another hole (LV11-020) was drilled on the southern
edge of the East Hill deposit on
section 812350 East and was designed to extend the known deposit to
the south and to depth, LV11-020 is complete and awaits assay
results. Drill hole LV11-021 is in progress and is testing a
previously undrilled geophysical target (Induced Polarization)
located two kilometres south of the East
Hill deposit.
Drilling at La
Verde commenced on January 28,
2011. As of May 17, 2011 eight
holes had been completed for a total of 6,332 meters.
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.
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.
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.