VANCOUVER, Nov. 28 /PRNewswire-FirstCall/ -- Copper Mountain Mining Corporation ("CMMC" or the "Company) announces assay results from fifteen additional drill-holes completed in the western Pit 2 area and eight drill-holes in the Saddle Zone of the 100% owned Copper Mountain project where a major drill program continues.
"We continue to extend, or discover new mineralized zones, within areas adjacent to and between the existing open pits and have encountered excellent grades near surface in these recent holes, particularly in gold," stated President and CEO, Jim O'Rourke. "The focus of the drill program is to upgrade and expand the resource used in the recently announced Preliminary Assessment Report which was based only on drilling up to July 20, 2007. These holes demonstrate the presence of mineralization between Pit 1 and Pit 2 that should enhance the resource and the Super Pit concept. There is also growing evidence for an extensive zone of mineralization at depth. Drilling continues with five drills turning on a 24 hour basis in a program that should be delivering results continuously early into the first part of the new year," stated O'Rourke.
Key results from the drilling on the western side of Pit 2 are: - Mineralization occurs throughout the area between the western side of Pit 2 and the north-eastern side of Pit 1 (Pit 1-2 Saddle Zone) indicating that this area will enhance the optimization of the super pit within the mine plan. - Drill-hole P2-56 is the most significant intersection in this batch being released, which intersected 340 feet grading 0.74% CU, 0.25 g/t Au, and 2.12 g/t Ag (0.85 % Cu Equiv.) approximately 300 feet southwest of the western corner of Pit 2. - Precious metal grades within the Saddle zone and Pit 2 areas are similar to historical pit 2 precious metal grades (higher gold and lower silver relative to Pit 3). - Drill-holes within the Saddle Zone between Pits 1 and 3, and the Saddle Zone, between Pit 3 and Pit 2, continue to intersect numerous zones of mineralization below the mostly barren lithocap. Intersections in this area will continue to improve mine economics as any barren areas that are converted to mineralized blocks will reduce the overall strip ratio down from the present level of 1.5:1 reported in the recently released Preliminary Assessment Report.
To date, results from a total of 107 drill-holes have been released, including those contained herein, and these results will continue to be merged into the database for an updated independent 43-101 compliant resource estimate which is anticipated early in 2008. The current drilling in the Pit 2 and Saddle zone areas has three primary objectives: 1) to provide enough data to upgrade inferred resources to the indicated and measured categories; 2) to confirm the extension of Pit 2 west towards Pit 1; and 3) to provide additional information at depth and in areas of low drill density in order to convert waste blocks to mineralized blocks.
Significant intersections from drill-holes announced in this press release are listed in the table below and shown on the attached map. A complete list of drill results can be found on the company's website.
The mineralized system at Copper Mountain is classified as a bulk-tonnage, alkalic porphyry copper deposit that is hosted within Nicola Group volcanic rocks. Mineralization is structurally controlled and focused at multi-directional vein intersections and within vein stockwork systems. Drill holes are usually drilled at angles of -45 or -55 degrees to provide the best indication of the lateral extents of vertically oriented mineralization.
The Copper Mountain project is strategically located 300 km outside of Vancouver, British Columbia. The Copper Mountain project is a former producer and has extensive infrastructure in place, including power and water. The site can be accessed year round as a paved highway goes right to site.
To view a map of the drilling, please visit: http://www.cumtn.com/sitemanager/_pdf_exploration/071128_drill_program.pdf
Quality Assurance
The company employs a system of quality control for drill results which includes the use of blanks, certified reference material (standards) and check assaying. Core is logged on site and split with a diamond saw. Samples are shipped to Pioneer Laboratories for geochemical analysis of copper with all values of greater than 1000 ppm copper being re-analysed by assay methods for copper, gold and silver. The drilling program is being supervised by Peter Holbek, M.Sc., P.Geo., a qualified person as defined by National Policy Instrument 43-101.
About Copper Mountain Mining Corp.:
CMMC is a new public BC resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company owns 100% of Copper Mountain Project which holds the mineral claims and crown grants over the 18,000 acre mine site. Copper Mountain Mining Corp. has the goal of developing the Copper Mountain Project as a major copper and precious metal producer within the next three years. Additional information is available on the Company's web page at http://www.cumtn.com/.
On behalf of the Board of COPPER MOUNTAIN MINING CORPORATION "Peter Holbek" Peter Holbek VP Exploration
Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at http://www.sedar.com/, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement.
COPPER MOUNTAIN MINING CORPORATION DRILLING CONFIRMS PIT 2 EXPANSION WEST TOWARDS PIT 1 AND INTERSECTS ------------------------------------------------------------------- 340 FEET GRADING 0.74% CU, 0.25 g/t Au, and 2.12 g/t Ag ------------------------------------------------------- INTER- CU FROM TO VAL AG AU Equiv. HOLE-ID Location Length Azi Dip (Feet) (Feet) (Feet) CU% (g/T)(g/T) %(x) ------------------------------------------------------------------------- CM07P2-46 Pit 1-2 Saddle Zone 1173 39 -55 665 780 115 0.39 1.25 0.2 0.48 840 855 15 0.61 1.87 0.27 0.73 CM07P2-47 Saddle Zone 1177 39 -55 30 70 40 0.54 2.46 0.23 0.64 108 148 40 0.52 3.11 0.26 0.64 CM07P2-48 Pit 1-2 Saddle Zone 1460 39 -55 605 710 105 0.35 1.5 0.26 0.46 930 1000 70 0.32 0.92 0.18 0.40 1185 1435 250 0.36 1.22 0.16 0.43 CM07P2-49 Pit 1-2 Saddle Zone 1227 39 -45 240 410 170 0.36 1.45 0.1 0.41 575 662.1 87.1 1.13 2.65 0.23 1.24 875 1040 165 0.28 1.13 0.09 0.32 1121 1177 56 0.3 1.39 0.15 0.37 CM07P2-50 Pit 1-2 Saddle Zone 702 39 -45 55 100 45 0.27 1.1 0.23 0.37 200 250 50 0.46 1.51 0.63 0.71 350 475 125 0.3 1.24 0.11 0.35 CM07P2-51 Pit 1-2 Saddle Zone 1027 39 -45 880 932 52 0.63 1.72 0.21 0.72 CM07P2-52 Pit 1-2 Saddle Zone 1197 39 -55 700 945 245 0.39 1.39 0.09 0.43 CM07P2-53 1007 39 -55 425 490 65 0.35 1.15 0.16 0.42 550 685 135 0.3 1.21 0.1 0.35 CM07P2-54 Pit 1-2 Saddle Zone 935 39 -50 236 301 65 1.1 2.21 0.51 1.31 677 787 110 0.33 0.94 0.12 0.38 835 920 85 0.25 0.75 0.1 0.29 CM07P2-55 Pit 1-2 Saddle Zone 557 39 -50 230 305 75 0.41 1.33 0.09 0.45 330 385 55 0.25 1.03 0.12 0.30 CM07P2-56 Pit 1-2 Saddle Zone 1205 45 -55 205 545 340 0.74 2.12 0.25 0.85 903 1048 145 0.42 1.11 0.1 0.47 CM07P2-57 Pit 1-2 Saddle Zone 1007 39 -55 475 705 230 0.6 1.72 0.15 0.67 CM07SD-39 Saddle zone 1207 219 -45 665 970 305 0.27 1.15 0.06 0.30 CM07SD-40 Pit 1-3 Saddle Zone 777 39 -65 370 410 40 0.43 2.6 0.07 0.47 720 760 40 0.34 0.9 0.03 0.36 CM07SD-41 Pit 1-3 Saddle Zone 977 39 -45 NSR - CM07SD-42 Pit 3 North wall 1267 219 -45 870 985 115 0.28 1.1 0.05 0.31 1024 1095 71 0.41 1.19 0.05 0.44 CM07SD-43 Pit 1-3 Saddle Zone 1387 39 -65 NSR - CM07SD-44 Pit 3 North wall 417 219 -45 225 245 20 0.94 6 0.05 1.00 CM07SD-45 East Saddle Zone 1427 39 -45 695 740 45 0.35 1.01 0.07 0.38 1198.2 1245 46.8 0.3 0.88 0.19 0.38 CM07SD-46 Pit 1-3 Saddle Zone 857 39 -45 100 140 40 0.48 2.44 0.22 0.58 295 370 75 0.34 1.34 0.03 0.36 CM07SD-47 Pit 1-2 Saddle Zone 1637 39 -45 920 1010 90 0.52 2.29 0.31 0.66 1065 1095 30 1.44 5.9 0.6 1.71 1183 1245 62 0.31 1.29 0.21 0.40 CM07SD-48 SW Corner - Pit 2 1293 39 -55 541 589 48 0.3 1.15 0.27 0.41 CM07SD-49 SW Corner - Pit 2 1057 39 -55 NSR - CM07SD-50 SW Corner - Pit 2 867 39 -55 675 720 45 0.28 0.78 0.17 0.35 (x) Based on current metal prices of: Copper US $3.00/lb, Gold at US $800/Oz, and Silver at US $13/Oz
CONTACT: Don Graham, Director, Investor Relations, (604) 682-2992 ext. 224, Email:
