Trading Symbol: CCY
VANCOUVER,
Oct. 26, 2011 /PRNewswire/ - Catalyst
Copper Corp. (the "Company" or "Catalyst") today released the
latest drill results from its ongoing drill program at the
La Verde copper porphyry project
in Michoacán state, Mexico,
including a 197.1-meter intercept in Hole LV11-026 on the
East Hill deposit which returned
0.36% copper, 0.108 g/t gold, 3.9 g/t silver.
Catalyst also announced that Tetra Tech WEI Inc. has been
contracted to produce an updated NI43-101 resource estimate which
is expected to be completed by the end of this year. Based on the
continuity of mineralization seen during the 2011 drill program
Catalyst expects an increase in the previous December 2010 NI43-101 resource estimate shown
below:
Table 1. December 2010 La Verde
Resources
Measured +
Indicated |
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Copper |
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Inferred |
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Copper |
tonnes |
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Cu (%) |
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(billion lbs) |
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tonnes |
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Cu (%) |
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(billion lbs) |
207,175,000 |
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0.45 |
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2.1 |
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114,825,000 |
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0.45 |
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1.1 |
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- Based on 0.20% Cu cut-off
- Does not include potential Au-Ag-Mo credits.
- See January 2011 press release
for complete details.
Today's drill results
Drill holes LV11-026 and LV11-027 were drilled on the East Hill deposit. LV11-026 returned
0.23% copper, 0.042 g/t gold and 2.8 g/t silver over 584.2
meters, including 7.0 meters of 1.49% Cu, 0.012 g/t gold and
30.2 g/t silver and 197.1 meters of 0.36% Cu, 0.108
g/t gold and 3.9 g/t silver. Drill hole LV11-027 returned
0.15% copper, 0.111 g/t gold and 1.2 g/t silver over 23.4
meters. Table 2.
Drill holes LV11-028, LV11-029 and LV11-030 were drilled on
section 811650E to test the valley separating the East Hill from the West Hill deposit.
LV11-028, the most northerly drill hole on this section,
returned 111.5 meters of 0.29% copper, 0.111 g/t gold and 1.2
g/t silver from 335.0 to 446.5 meters. This is the most
encouraging drill intersection returned to date from the gap
between the two deposits. It outlines the potential for expansion
of the East Hill deposit towards
the West Hill deposit and also indicates an area with elevated
copper-gold values. Follow-up drill holes are planned for this
copper-gold zone.
Drill holes LV11-031 and Lv11-032 were drilled on the West Hill
deposit. Both of these drill holes intersected chalcopyrite (copper
rich) veins as well as fracture and disseminated copper sulfides.
Partial assay results for LV11-031 returned 19.5 meters of 1.43%
Cu, 99.3 meters of 0.71% Cu and 4.2 meters of 6.41% Cu; 16.0
g/t silver. Further assay results are pending for these two drill
holes.
In total Catalyst has now completed 26,089 meters of drilling on
the La Verde property of which
13,809 have been drilled during the ongoing 2011 drill program.
(See September 6, 2011 News Release
for previously released assay results).
TABLE 2. 2011 La Verde Assay Results
Drill
Hole |
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From |
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To |
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Length |
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Cu% |
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Au g/t |
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Ag g/t |
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Mo% |
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Location |
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LV11-026 |
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0.0 |
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584.2 |
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584.2 |
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0.23 |
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0.042 |
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2.8 |
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0.002 |
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East Hill |
incl. |
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62.1 |
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69.1 |
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7.0 |
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1.49 |
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0.012 |
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30.2 |
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0.001 |
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incl. |
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387.1 |
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584.2 |
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197.1 |
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0.36 |
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0.108 |
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3.9 |
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0.004 |
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LV11-027 |
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343.6 |
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367.0 |
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23.4 |
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0.15 |
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0.111 |
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1.2 |
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0.001 |
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East Hill |
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LV11-028 |
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335.0 |
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446.5 |
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111.5 |
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0.29 |
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0.226 |
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31.6 |
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0.003 |
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EH-WH Gap |
incl. |
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337.0 |
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374.6 |
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37.6 |
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0.35 |
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0.461 |
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1.6 |
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0.003 |
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incl. |
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388.8 |
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414.5 |
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25.7 |
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0.43 |
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0.158 |
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2.5 |
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0.002 |
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LV11-029 |
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361.0 |
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367.0 |
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6.0 |
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0.25 |
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0.134 |
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2.3 |
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0.001 |
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EH-WH Gap |
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382.8 |
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392.0 |
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9.2 |
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0.15 |
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0.103 |
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1.0 |
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0.002 |
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LV11-030 |
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386.7 |
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393.1 |
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6.4 |
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0.71 |
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0.070 |
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3.0 |
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0.003 |
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EH-WH Gap |
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LV11-031 |
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242.5 |
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286.5 |
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44.0 |
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0.32 |
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0.005 |
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2.6 |
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0.002 |
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West Hill |
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322.2 |
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341.7 |
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19.5 |
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1.43 |
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0.004 |
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3.5 |
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0.001 |
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400.3 |
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499.6 |
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99.3 |
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0.71 |
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0.006 |
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3.2 |
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0.001 |
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524.5 |
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550.3 |
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25.8 |
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0.43 |
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0.002 |
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1.7 |
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0.004 |
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577.1 |
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581.3 |
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4.2 |
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6.41 |
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0.009 |
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16.0 |
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0.006 |
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581.3 |
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898.8 |
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Assays |
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pending |
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LV11-032 |
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0.0 |
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898.8 |
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898.8 |
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Assays |
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pending |
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West Hill |
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Previously released 2011 drill holes can be found on the
company's website at
www.catalystcopper.com/media/news-releases/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), further details
available on the Company's website at www.catalystcopper.com.
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.
PDF with caption: "Drill holes LV11-026 through LV11-031". PDF
available at:
http://stream1.newswire.ca/media/2011/10/26/20111026_C7704_DOC_EN_5623.pdf