Commodity-TV

The whole world of commodities in one App!

Watch Management & Expert Interviews, Site-Visit-Videos, News Shows and receive top and up to date Mining Information on your mobile device worldwide!

Download our unique App for free!
Commodity-TV Play Store
Commodity-TV App Store
Commodity-TV

Social Media


Copper Mountain Announces Positive Drilling Testing Depth Extensions at New Ingerbelle

Receive up-to-date information about the company directly via push notification

Vancouver, British Columbia – September 8, 2020 – Copper Mountain Mining Corporation (TSX: CMMC | ASX:C6C) (the “Company” or “Copper Mountain” - https://www.commodity-tv.com/play/copper-mountain-mining-company-teaser-2020/ ) is pleased to announce positive results from two drill holes, totalling 1,538 metres that were drilled to test the depth extent of the New Ingerbelle copper-gold pit at the Copper Mountain mine. The Copper Mountain mine is located in southern British Columbia near the town of Princeton.
Highlights:

  • Hole 20IG-01 returned 585 metres of 0.51% CuEq (0.33% Cu, 0.21 g/t Au, 0.45 g/t Ag), including 213 metres of 0.75% CuEq (0.50% Cu, 0.29 g/t Au, 0.63 g/t Ag)
  • Hole 20IG-02 returned 120 metres of 1.02% CuEq (0.69% Cu, 0.37 g/t Au, 1.55 g/t Ag)

“These results indicate the immense potential that is inherent in New Ingerbelle,” commented Gil Clausen, Copper Mountain’s President and CEO. “The drill program shows that mineralization extends for at least an additional 250 metres below the design pit.  Both holes terminated in ore, so we have not cut off the mineralization in any form. We are no where near understanding the extent of mineralization at New Ingerbelle.  As a result of this drilling, we believe there is considerable potential to materially increase the mineral resource and ultimately the mineral reserve.”
Mr. Clausen added, “Further, the average copper and gold grades of these wide intercepts are above the average mineral reserve grade at New Ingerbelle.  New Ingerbelle has meaningful precious metals exposure with nearly 40% of its reserve value comprised of gold and silver. We plan to continue to invest in drilling at New Ingerbelle as the deposit is completely open.”

Drilling was designed to test mineralization continuity at depth in the central part of the deposit area. Geology, alteration intensity and copper to gold ratios are consistent over the entire known vertical extent of mineralization. These positive drill results will be incorporated into the Company’s annual mineral reserve and mineral resource update in the fourth quarter of 2020.  Please see appendix for Drill Hole Location Map and Long Section. Significant drill results from the two completed drill holes are summarized in the table below. 

 

 

 

 

 

 

 

 

 

 

Hole ID

Azi

Dip

From (m)

To (m)

Interval (m)

Cu %

Au g/t

Ag g/t

Cu Eq1 %

20IG-01

251

-56

138

204

66

0.23

0.17

0.43

0.38

 

 

 

231

816

585

0.33

0.21

0.45

0.51

incl 

 

 

603

816

213

0.50

0.29

0.63

0.75

20IG-02

054

-60

26

146

120

0.69

0.37

1.55

1.02

 

 

 

269

425

156

0.31

0.18

0.62

0.47

 

 

 

443

464

21

0.36

0.15

0.36

0.49

 

 

 

506

572

66

0.28

0.15

0.37

0.41

 

 

 

617

680

63

0.25

0.11

1.64

0.36

1CuEq calculated from NSR values when using metal prices (in US$) of 3.00, 1970.00, 28.00 and recoveries of 85%, 71%, 65% for Cu, Au, and Ag, respectively.
The two drill holes were drilled in scissor fashion, roughly east-west, on sections spaced 200 metres apart in the north-south direction. As sulphide bearing fractures have a strong vertical orientation, angle drilling provides a better representation of grade distribution.   Mineralization in the New Ingerbelle deposit is hosted in both volcanic and intrusive rocks with grade distribution related to fracture patterns and host rock chemistry. 
The New Ingerbelle deposit has reserves of 193 million tonnes grading 0.24% Cu, 0.15 g/t Au and 0.48 g/t Ag containing 1.0 billion pounds of copper, 929,000 ounces of gold and 3.0 million ounces of silver as at January 1, 2020 (as published in Copper Mountain’s 2020 AIF). New Ingerbelle is situated one kilometre west of the Copper Mountain Main Pit.

About Copper Mountain Mining Corporation
Copper Mountain’s flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia near the town of Princeton. The Copper Mountain mine currently produces approximately 90 million pounds of copper equivalent, with average annual production expected to increase to approximately 120 million pounds of copper equivalent.  Copper Mountain also has the development-stage Eva Copper Project in Queensland, Australia and an extensive 2,443 km2 highly prospective land package in the Mount Isa area. Copper Mountain trades on the Toronto Stock Exchange under the symbol “CMMC” and Australian Stock Exchange under the symbol “C6C”.

Additional information is available on the Company’s web page at www.CuMtn.com.

On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION

“Gil Clausen”

Gil Clausen, P.Eng.
President and Chief Executive Officer

For further information, please contact:
Letitia Wong
Vice President Corporate Development & Investor Relations
Telephone: 604-682-2992
Email: [email protected]

Website: www.CuMtn.com
In Europe:
Swiss Resource Capital AG
Jochen Staiger
[email protected]
www.resource-capital.ch

 

Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws.  All statements, other than statements of historical facts, are forward-looking statements.  Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”.  Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements.  Factors that could cause actual results to differ materially from these forward-looking statements include the successful exploration of the Company’s properties in Canada and Australia, the reliability of the historical data referenced in this press release and risks set out in Copper Mountain’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com.  Although Copper Mountain believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all.  Except where required by applicable law, Copper Mountain disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

 

 

 

APPENDIX:

DRILL HOLE LOCATION MAP

 

Plan view of existing pit, drill holes and outline of reserve pit.

LONG SECTION

 

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

* indicates required
SRC Mining & Special Situations ZertifikatSRC Mining & Special Situations Zertifikat

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

* indicates required