Trading Symbol: CCY
VANCOUVER,
Jan. 20, 2012 /PRNewswire/ - Catalyst
Copper Corp. today announced an updated Measured plus Indicated
Resource of 354.1 million tonnes grading 0.41% Cu; 0.043 g/t Au;
2.3 g/t Ag at its La Verde copper
porphyry deposit in Michoacán State, Mexico. This represents a 71% increase
in tonnage and 54% in contained copper over the previous resource
released in January, 2011 (Table 1)
The resource, which was calculated using a 0.2% Cu
cut-off, was completed by Wardrop, A Tetra Tech Company (Tetra
Tech), and incorporates all drilling results from the 15,819 metres
in 24 holes completed by the Company during 2011. This resource now
includes gold and silver values not previously modeled as
sufficient drill results now exist for these elements.
La Verde consists
of two proximal deposits referred to as East Hill and West Hill. The deposits are
amenable to low cost open pit mining methods and are located in an
area of excellent infrastructure; rail, power, water and highways
all cross the property.
"We are extremely pleased with the updated resource
numbers," says Terry Hodson, V.P.
Exploration. "Drill holes released from the 2011 drill program
consistently returned encouraging results and the increased deposit
size reflects those drill results. We believe there is still room
for further expansion of the total deposit resource and our 2012
drill program will target these areas".
Catalyst Copper plans to use the updated resource
to prepare a Preliminary Economic Assessment (PEA) for La Verde. Tetra Tech has commenced work on the
preparation of preliminary open pit models for the deposits to be
used in the PEA.
The 2012 resource was prepared by T. Maunula,
P.Geo, Chief Geostatistician Tetra Tech 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 637 drill holes for a total of 108,800
meters, 46,105 assays. 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 kriging
technique. The estimate did not employ a high grade copper cap. A
density (specific gravity) of 2.70 g/cm3 was used for the deposit
(porphyry style mineralization). 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.
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.
La Verde property
is subject to a three year 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
Catalyst Copper Corp. will be exhibiting at the
Vancouver Resource Investment Conference on January 22nd and 23rd 2012.
Please come by and see us at booth number 1027 in the Vancouver Convention Centre West.
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.
Tetra Tech Resource
Model |
|
|
|
|
|
|
|
|
|
Class |
Cu COG |
Tonnes |
Cu% |
Au g/t |
Ag g/t |
Cu lbs |
Au ozs |
Ag ozs |
Measured |
>= 0.100 |
38,415,147 |
0.42 |
0.05 |
2.6 |
354,618,583 |
61,324 |
3,267,091 |
|
>= 0.200 |
29,341,759 |
0.50 |
0.055 |
2.8 |
325,302,101 |
52,024 |
2,650,735 |
|
>= 0.300 |
21,569,568 |
0.60 |
0.059 |
3 |
283,388,682 |
40,838 |
2,103,439 |
|
|
|
|
|
|
|
|
|
Indicated |
>= 0.100 |
514,031,345 |
0.30 |
0.036 |
1.9 |
3,443,046,222 |
590,107 |
31,811,907 |
|
>= 0.200 |
324,735,229 |
0.40 |
0.042 |
2.2 |
2,847,277,405 |
433,490 |
23,368,430 |
|
>= 0.300 |
194,705,580 |
0.50 |
0.047 |
2.5 |
2,158,223,306 |
292,358 |
15,735,138 |
|
|
|
|
|
|
|
|
|
January,
2012 |
Class |
Cu COG |
Tonnes |
Cu% |
Au g/t |
Ag g/t |
Cu lbs |
Au ozs |
Ag ozs |
|
|
|
|
|
|
|
|
|
Ms+Ind |
>=0.100 |
552,446,500 |
0.31 |
0.037 |
2 |
3,797,664,800 |
651,400 |
35,079,000 |
|
>=0.200 |
354,077,000 |
0.41 |
0.043 |
2.3 |
3,172,579,500 |
485,500 |
26,019,200 |
|
>=0.300 |
216,275,000 |
0.51 |
0.048 |
2.6 |
2,441,611,100 |
333,200 |
17,838,600 |
|
|
|
|
|
|
|
|
|
Inf |
>=0.100 |
345,639,642 |
0.27 |
0.038 |
1.6 |
2,047,473,900 |
423,700 |
17,834,900 |
|
>=0.200 |
168,074,400 |
0.41 |
0.058 |
2.3 |
1,509,584,300 |
311,400 |
12,138,300 |
|
>=0.300 |
92,309,100 |
0.55 |
0.078 |
2.8 |
1,110,400,900 |
230,600 |
8,300,500 |
|
|
|
|
|
|
|
|
|
January,
2011 |
Class |
Cu COG |
Tonnes |
Cu% |
Au g/t |
Ag g/t |
Cu lbs |
Au ozs |
Ag ozs |
|
|
|
|
|
|
|
|
|
Ms+Ind |
>=0.100 |
341,923,500 |
0.33 |
--- |
--- |
2,508,360,100 |
--- |
--- |
|
>=0.200 |
207,174,900 |
0.45 |
--- |
--- |
2,071,045,100 |
--- |
--- |
|
>=0.300 |
139,680,700 |
0.55 |
--- |
--- |
1,701,017,500 |
--- |
--- |
|
|
|
|
|
|
|
|
|
Inf |
>=0.100 |
189,027,500 |
0.33 |
--- |
--- |
1,356,773,900 |
--- |
--- |
|
>=0.200 |
114,824,500 |
0.45 |
--- |
--- |
1,127,750,900 |
--- |
--- |
|
>=0.300 |
76,866,400 |
0.54 |
--- |
--- |
918,906,500 |
--- |
--- |
|
|
|
|
|
|
|
|
|
%Change |
Jan. 2011 to Jan. 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ms+Ind |
>=0.100 |
62% |
|
|
|
51% |
|
|
|
>=0.200 |
71% |
|
|
|
53% |
|
|
|
>=0.300 |
55% |
|
|
|
44% |
|
|
|
|
|
|
|
|
|
|
|
Inf |
>=0.100 |
83% |
|
|
|
51% |
|
|
|
>=0.200 |
46% |
|
|
|
34% |
|
|
|
>=0.300 |
20% |
|
|
|
21% |
|
|
|
|
|
|
|
|
|
|
|
Notes: |
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1. |
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.
|
2. |
Mineral Resources are not
Mineral Reserves as there are insufficient studies to demonstrate
economic viability. |
3. |
The Mineral Resource is a
global insitu total without constraints to an economic pit. |
|
|
Ms = |
Measured Resources |
Cu% = |
copper percent |
Cu lbs = |
copper pounds |
Ind = |
Indicated Resources |
Au g/t = |
gold grams per tonne |
Au oz = |
gold ounces |
Inf = |
Inferred Resources |
Ag g/t = |
silver
grams per tonne |
Ag oz = |
silver ounces |
Cu COG = |
Copper cut-off grade |
grams to oz
= |
grams/31.103 |
|
|
|
SOURCE Catalyst Copper Corp.