Capstone Reports Additional High Grade Copper-Gold Results at Minto North
Tue Sep 1, 9:20 AM
Hole 09SWC508 intercepts 5.9% Cu & 2.6g/t Au over 16.8m (including 8.2%
Cu & 2.9g/t Au over 10.2m)
VANCOUVER, Sept. 1 /CNW/ - Capstone Mining Corporation (CS: TSX) today announced assay results from eleven additional drillholes completed on the "Minto North" mineral resource infill drill program at its high grade Minto copper-gold mine in the Yukon. These most recent drill intercepts from the Minto North deposit, which is located 600 metres north-northwest of the current open pit mine, are from infill holes designed to better define the mineral resource and returned high grade copper-gold intercepts confirming the results of the initial discovery and delineation program. Highlights of assays from these most recent drillholes are summarized in the table below and the full results for the eleven holes released today are provided in the attached table.
Latest Highlights from Minto North Drilling
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Hole ID Target From To Interval Interval Copper Gold Silver
Area (m) (m) (m)* (ft)* (%) (g/t) (g/t)
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09SWC-496 Minto
North 71.2 94.1 22.9 75.1 3.30 1.70 14.6
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including 73.3 76.9 3.6 11.8 5.43 1.14 21.7
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09SWC-498 Minto
North 77.9 104.0 26.1 85.6 2.84 1.92 9.7
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including 85.0 96.8 11.8 38.7 4.27 2.86 15.5
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09SWC-506 Minto
North 72.0 102.4 30.4 99.7 2.59 1.76 9.6
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including 86.3 98.8 12.5 41.0 4.26 2.90 16.7
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09SWC-508 Minto
North 80.9 97.7 16.8 55.1 5.87 2.60 24.2
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including 80.9 91.1 10.2 33.5 8.23 2.93 34.4
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"The infill drilling at Minto North continues to not only confirm the high grade nature of the Minto North deposit, but the four holes highlighted above demonstrate excellent continuity of the very high grade core up to the western margins of the deposit," said Stephen Quin, President & COO of Capstone. "Once all assay results are in, the mineral resource estimate will be updated and used in the Phase IV expansion study currently in process."
All Minto North drill core samples are now in the laboratory and results for the final 25 holes are expected shortly. With a drillhole spacing similar to that used to support the definition of measured & indicated mineral resources and mineral reserves elsewhere at the Minto Mine, this latest phase of drilling is sufficient to support a significant upgrade in the mineral resource classification and provide the confidence level required for a conversion to mineral reserves, should economic factors warrant it. These factors are currently being determined by the Phase IV expansion study, which is nearing completion.
Minto North Deposit
As previously reported on June 9, 2009, Capstone announced a preliminary mineral resource estimate at Minto North. The aim of this recently completed infill drill program is to boost the confidence in this mineral resource sufficient to support a conversion to mineral reserves by demonstrating both continuity of grade and thicknesses. Capstone believes this has now been achieved and has started the process to revise the mineral resource estimation. The 3D geological model is currently being updated and the new estimation will start as soon assay data for the entire infill program is received, which will be in time for inclusion into the Minto Phase IV expansion study.
For current drillhole locations please view the accompanying map: www.capstonemining.com/i/photos/minto/2009-31MintoDrillResultsUpdate.jpg
For an inset view of drill results at Minto North please view the accompanying map: www.capstonemining.com/i/photos/minto/2009-31MintoNorthDrillResultsDetails.jpg
The TSX does not accept any responsibility for the adequacy or accuracy
of this press release.
Quality Assurance
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Stephen P. Quin, P. Geo., President & COO for Capstone Mining Corporation. The exploration activities at the Minto project site are carried out under the supervision of Brad Mercer, P. Geol., V.P. Exploration (Canada) for Capstone.
The analytical method for the copper and silver analyses is aqua regia digestion of the samples followed by atomic absorption spectroscopy. Gold is analysed by fire assay fusion with atomic absorption spectroscopy finish for gold. Analyses are carried out by ALS CHEMEX in North Vancouver. When visible gold is noted in drill core samples or regular fire assay values appear abnormally high, the pulp and screen metallic assay method is used to determine the total gold content and gold contents of different size fractions. This is considered industry best practice when dealing with coarse gold mineralization where a nugget effect is suspected. This determination is accepted as the most representative value and is used in the assay database for mineral resource calculations. Blank and standard samples are used for quality assurance and quality control. Where more than two check samples assay outside expected ranges, the entire batch is re-assayed. After the completion of planned drill programs at Minto, random check assays will be carried out by Acme Analytical of Vancouver.
Forward-Looking Statements
This document may contain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). These forward-looking statements are made as of the date of this document and Capstone Mining Corp. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements.
Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of mineral resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements.
Details of Minto North (only) Drill Results
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To accompany Capstone Mining News Release Dated September 01, 2009
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Hole ID Target From To Interval Interval Copper Gold Silver
& Interval (m) (m) (m) (feet) (%) (g/t) (g/t)
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09SWC-495* Minto
North 134.8 148.8 14.0(7.0) 45.9(22.9) 1.36 0.60 9.7
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including 143.6 148.8 5.2(2.6) 17.1(8.5) 3.24 1.37 23.5
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09SWC-496 Minto
North 71.2 94.1 22.9 75.1 3.30 1.70 14.6
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including 73.3 76.9 3.6 11.8 5.43 1.14 21.7
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09SWC-497* Minto
North 69.0 82.0 13.0(7.4) 42.7(24.3) 1.66 0.41 4.1
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including 73.0 77.0 4.0(2.3) 13.1(7.5) 2.48 0.60 5.4
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09SWC-498 Minto
North 77.9 104.0 26.1 85.6 2.84 1.92 9.7
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including 85.0 96.8 11.8 38.7 4.27 2.86 15.5
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09SWC-499 Minto Assays Previously Released
North
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09SWC-500 Minto
North 65.2 90.6 25.4 83.3 1.43 0.56 4.1
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09SWC-501 Minto Geochemically Anomalous - No Significant
North Intersections
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09SWC-502 Minto
North 65.2 98.7 33.5 109.9 1.57 0.84 5.2
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including 74.8 98.7 23.9 78.4 1.88 1.10 6.4
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09SWC-503 Minto
North 52.3 82.1 29.8 97.8 2.26 0.78 7.3
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including 52.3 57.7 5.4 17.7 3.89 1.08 14.3
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09SWC-504 Minto Assays Pending
North
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09SWC-505 Minto
North 64.4 89.9 25.5 83.7 1.82 0.68 5.2
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09SWC-506 Minto
North 72.0 102.4 30.4 99.7 2.59 1.76 9.6
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including 86.3 98.8 12.5 41.0 4.26 2.90 16.7
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09SWC-507 Minto Assays Pending
North
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09SWC-508 Minto
North 80.9 97.7 16.8 55.1 5.87 2.60 24.2
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including 80.9 91.1 10.2 33.5 8.23 2.93 34.4
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09SWC-509 Minto Assays Pending
North
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09SWC-511 Minto
to 532 North Assays Pending
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* Estimated true thickness
Contactsabout Capstone please contact: Darren Pylot
Vice Chairman & CEO
Stephen Quin
President & COO
Or Investor Relations' Mark Patchett at (604) 684-8894 or (866) 684-8894
info@capstonemining.com
158.94 (1.43%)
