Trading Symbol: CCY
VANCOUVER,
Sept. 12, 2011 /PRNewswire/ -
Catalyst Copper Corp. (the "Company" or "Catalyst")
today announced it has commenced metallurgical test work as part of
the ongoing evaluation of the La
Verde copper-gold-silver porphyry deposit located in
Michoacán State, Mexico, 320
kilometres west of Mexico
City.
Four composite samples from La
Verde have been delivered to G&T Metallurgical Services
Ltd. (G&T) located in Kamloops,
B.C. Two samples from each of the West Hill and East Hill deposits will be tested. Grades of
the four composite samples are shown in Table 1.
The purpose of the tests is to provide initial metallurgical
recoveries to concentrate for copper gold and silver. These
recoveries will then be utilized in a planned economic analysis of
La Verde.
Each metallurgical sample weighed about 100 kilograms and was
created by compositing drill core intersections taken from multiple
drill holes. For both the West and East
Hill deposits, one metallurgical sample is from the mixed
oxide-sulfide zone located at surface and the second is from the
sulfide zone. The sulfide zone is characterized by the presence of
copper minerals chalcopyrite plus or minus bornite and forms the
majority of the deposits. The narrow mixed oxide-sulfide zone is
located at or near surface as indicated by the presence of oxide
minerals malachite and limonite.
TABLE 1. La Verde Metallurgical Samples
| Location |
Cu% |
Au g/t |
Ag g/t |
Zone |
East Hill
East Hill |
0.70
0.36 |
0.049
0.098 |
5.6
1.9 |
Sulfide
Mixed |
West Hill
West Hill |
0.61
0.33 |
0.023
0.002 |
2.4
0.9 |
Sulfide
Mixed |
Total meters drilled on La
Verde is now 104,237 meters. Of this total Catalyst had
drilled 23,634 meters as of September 1,
2011.
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.