Catalyst Copper Reports Drill Results from La Verde Project, Mexico
June 12 2012 - 12:15PM
PR Newswire (Canada)
Intercepts from seven holes include 1.25% Cu over 17.8m, 2.02% Cu
over 10m and 1.19% Cu over 49m Trading Symbol: CCY VANCOUVER, June
14, 2012 /CNW/ - Catalyst Copper Corp. ("Catalyst" or "the
Company") today released the results of the final seven holes
(6,771 meters) of its 2012 diamond drill program at the La Verde
copper porphyry project in Michoacán state, Mexico. The 2012 drill
program was focused on expanding the known mineralization
associated with the two potential open pit copper deposits, East
Hill and West Hill. Results from the latest drill holes are shown
in Table 1 below. Highlights include: -- LV12-043 with 0.69% Cu,
0.006 g/t Au, 2.2 g/t Ag over 27.0 meters; -- LV12-044 with 0.53%
Cu, 0.014 g/t Au, 6.6 g/t Ag over 89.5 meters; -- LV12-045 with
1.25% Cu, 0.019 g/t Au, 4.6 g/t Ag over 17.8 meters; plus 1.68% Cu,
0.007 g/t Au, 4.0 g/t Ag over 26.0 meters; plus 2.04% Cu, 0.010 g/t
Au, 6.4 g/t Ag over 14.3 meters; -- LV12-046 with 1.19% Cu, 0.039
g/t Au, 10.4 g/t Ag over 49.1 meters; and, -- LV12-048 with 2.02%
Cu, 0.003 g/t Au, 2.5 g/t Ag over 10.1 meters. The Company has now
drilled a total of 34,968 metres under its option agreement with
Teck Resources Limited's Mexican subsidiary, taking the total
drilling on the property (including historic drilling) to 108,800
meters in 649 drill holes. A Preliminary Economic Assessment (PEA)
is currently being prepared by AMC Mining Consultants Limited, and
is expected to be published later this month. None of the 2012
drilling program results have been used in the PEA. Catalyst has
requested Tetra Tech, Inc. to submit a proposal to update its NI
43-101-compliant Technical Report and Resource Estimate of La Verde
dated January 19, 2012 and to incorporate all work conducted by the
Company under the Option agreement with Teck. Catalyst is targeting
to have the updated report; including a revised resource
calculation, available in the third quarter of 2012. A summary of
the current NI 43-101 compliant resource is set out in Table 2.
TABLE 1. La Verde 2012 Assay Results Drill
Hole From To Length Cu% Au g/t Ag g/t Mo% Location LV11-042 100.8
243 142.2 0.29 0.007 2.9 0.016 East Hill 359.2 558 198.8 0.38 0.078
4.5 0.004 Incl. 359.2 373.3 14.1 0.66 0.437 8.1 0.073 LV11-043
115.6 119.8 4.2 1.01 0.046 5 0.001 East Hill 176 203 27 0.69 0.006
2.2 0.001 211.2 221.3 10.1 0.69 0.036 2 0.001 336.5 345.8 9.3 0.68
0.021 3.1 0.005 LV11-044 197.1 201.2 4.1 0.24 0.018 2.2 0.002 East
Hill 238 246 8 0.3 0.016 5 0.001 278.5 283.3 4.8 0.25 0.022 4 0.003
303.5 307.5 4 0.23 0.021 2.5 0.001 366.2 369.7 3.5 0.39 0.05 2.8
0.001 400.5 406.5 6 0.2 0.14 2 0.002 432.8 436.7 3.9 0.21 0.113 2
0.002 483 487 4 0.56 0.095 4.5 0.005 506.4 510.4 4 0.65 0.504 6.5
0.003 533.7 575.4 41.7 0.56 0.014 5.1 0.003 657 746.5 89.5 0.53
0.014 6.6 0.007 LV11-045 133.1 150.9 17.8 1.25 0.019 4.6 0.003 West
Hill 233 255.9 22.9 0.97 0.015 4.4 0.001 295.6 299 3.4 0.27 0.002 2
0.001 326.7 352.7 26 1.68 0.007 4 0.001 381 395.3 14.3 2.04 0.01
6.4 0.001 403.1 410.5 7.4 0.39 0.003 2 0.001 LV12-046 187.8 227.1
39.3 0.23 0.038 2.1 0.001 East Hill 256.3 259.6 3.3 0.22 0.041 3
0.001 267.5 274.9 7.4 0.22 0.062 2.2 0.001 279.6 283.6 4 0.29 0.045
3.5 0.001 314.5 319.7 5.2 0.21 0.055 2.7 0.003 414 418 4 0.3 0.003
8 0.001 445.4 452.5 7.1 0.24 0.092 3 0.002 466.3 472 5.7 0.38 0.094
4.1 0.002 493 529 36 0.59 0.114 6 0.003 562.3 611.4 49.1 1.19 0.039
10.4 0.003 623.8 630.1 6.3 0.28 0.005 2.9 0.012 635 641 6 0.21
0.046 2.7 0.01 605.2 640.1 34.9 0.6 0.002 1.2 0.001 LV12-047 81.7
86.3 4.6 0.29 0.003 2 0.001 West Hill 114.6 123.4 8.8 0.26 0.004
2.3 0.001 132.8 140.9 8.1 0.87 0.009 4.3 0.001 196.3 205.3 9 0.63
0.042 4.3 0.004 209.3 213.3 4 0.25 0.005 2 0.001 298 330.7 32.7
0.39 0.003 2.1 0.001 378 382 4 1.64 0.014 5 0.001 413.4 422.7 9.3
0.67 0.018 2.3 0.001 433.4 437.6 4.2 0.22 0.002 2 0.001 452 458.9
6.9 0.41 0.002 2 0.001 493.6 584.9 91.3 0.53 0.003 2.2 0.001
LV12-048 98.6 102.6 4 0.82 0.002 2 0.001 West Hill 115 124.3 9.3
0.88 0.002 2.4 0.002 146.4 153.9 7.5 0.23 0.002 2 0.001 179.3 188.7
9.4 0.47 0.004 2.3 0.001 208.5 216 7.5 0.26 0.002 2 0.001 222 226 4
0.65 0.004 2 0.001 244 252 8 0.63 0.005 2 0.001 261.6 269.3 7.7
1.01 0.006 2.4 0.001 279 283 4 0.2 0.002 2 0.001 298.5 308.6 10.1
2.02 0.003 2.5 0.002 320.2 324.2 4 0.29 0.002 2 0.001 352.2 356.2 4
0.27 0.007 2 0.001 373.2 377.1 3.9 2.15 0.007 3.8 0.001 411.8 428.1
16.3 0.47 0.002 2 0.001 457 465.4 8.4 0.3 0.002 2 0.001 Table
2. La Verde Measured, Indicated and Inferred
Resources (January, 2012) Class Cu% COG Tonnes Cu% Au Ag Cu
lbs Au Ag ozs g/t g/t (Billions) (ozs) (Millions) Ms+Ind =0.100
552,446,500 0.31 0.037 2.0 3.80 651,400 35.1 =0.200 354,077,000
0.41 0.043 2.3 3.17 485,500 26.0 =0.300 216,275,000 0.51 0.048 2.6
2.44 333,200 17.8 Inferred =0.100 345,639,600 0.27 0.038 1.6 2.05
423,700 17.8 =0.200 168,074,400 0.41 0.058 2.3 3.17 311,400 12.1
=0.300 0.55 0.078 2.8 2.44 230,600 8.3 92,309,100 1. Mineral
Resources are not Mineral Reserves as there is insufficient studies
to demonstrate economic viability. 2. 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. 3. The Mineral Resource is a global insitu total
without constraints to an economic pit. 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 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
drilling program to date shows 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 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. Catalyst Copper
Corp. CONTACT: Corporate Communications Officer: Denby Greenslade
(604)638-5900.
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