Mr. Norman Brewster reports
CELESTE COPPER CORP. ANNOUNCES DRILL RESULTS
Celeste Copper Corp. has released initial drilling results from a current continuing diamond drilling program being carried out by Cornish Minerals Ltd. (CML). In 2011, 29 diamond core holes have been drilled from underground mine workings to investigate the extensions to the Dolcoath South zone which is a polymetallic sheeted vein set. The drill hole results for 11 of the holes from DD 1101 to DD 1111 are outlined in the accompanying table.
Norman Brewster, president and chief executive officer of Celeste, commented: "Celeste is encouraged by the drill results as they demonstrate the presence of multiple mineralized structures carrying tin and base metal values. This provides processing flexibility in response to price fluctuation in any future operation. As part of the earn-in agreement with Cornish Minerals, Celeste intends to undertake an extensive drilling program to further define mineral resources at Dolcoath, as well as other exploration and development activities."
Hole ID From To Width Sn Cu Zn In W Sn Eq
(m) (m) (m) (%) (%) (%) (ppm) (ppm) (%)
DD1101 205.44 206.44 1.00 1.19 0.30 0.11 77 0 1.46
376.59 380.59 4.00 1.05 0.35 0.01 83 0 1.35
DD1102 274.16 275.16 1.00 2.00 0.05 0.01 144 272 2.40
286.16 294.64 8.48 0.26 1.05 0.01 34 68 0.70
302.64 304.64 2.00 0.08 1.50 0.02 44 0 0.70
328.42 329.42 1.00 0.71 0.11 0.01 35 0 0.82
331.42 332.42 1.00 0.56 0.02 0.03 44 0 0.68
353.76 354.76 1.00 2.62 0.09 0.01 151 72 2.99
DD1103 252.55 254.50 1.95 0.29 0.17 2.53 0 0 0.58
DD1105 239.00 240.00 1.00 0.92 0.07 1.68 18 0 1.13
DD1106 270.93 271.93 1.00 0.65 0.26 2.20 0 0 0.94
DD1107 310.19 323.19 13.00 0.62 4.66 0.03 94 829 2.59
327.19 328.19 1.00 0.62 0.12 0.01 42 0 0.75
394.28 395.28 1.00 1.23 0.22 0.01 91 0 1.52
DD1108 260.48 261.48 1.00 0.52 0.69 0.01 47 0 0.87
318.89 320.89 2.00 0.23 0.97 0.01 21 0 0.61
331.00 332.00 1.00 0.68 0.28 0.01 53 0 0.90
DD1111 270.78 280.78 10.00 0.27 0.63 0.01 28 0 0.56
285.78 287.31 1.53 0.24 0.61 0.01 25 912 0.65
1. Weighted average grade composites were calculated using 0.2-per-cent-Sn-equivalent
trigger value, 0.5-per-cent minimum overall grade, minimum width of one metre and
maximum consecutive waste of one metre.
2. Sn equivalent was calculated using inputs from Sn, Cu and Zn metal values at June 15
London Metal Exchange 15-month buyer's price of $25,430 (U.S.) per tonne, $8,990 (U.S.)
per tonne and $2,318 (U.S.) per tonne respectively.
Sn equivalent calculation -- Sn grade plus (Cu grade multiplied by 0.354) plus
(Zn grade multiplied by 0.091)
3. Intercepts reported are from average one-metre length half-BQ drill core sample intervals,
collected using best practive methodologies and analyzed using EDPXRF method by X-Ray
Minerals laboratory, Wales, United Kingdom. X-Ray is independent of Celeste Copper Corp.
On May 24, 2011, Celeste entered into an agreement with CML and its shareholders to earn in up to a 60-per-cent interest in the assets held by CML in the Cornish metallogenic province, United Kingdom. The assets cover 150 square kilometres of mineral rights and include several former mines. A National Instrument 43-101 report was filed on SEDAR on July 14, 2011, which details the Dolcoath South zone as well as other resource structures and outlines an inferred resource of approximately 1,331,000 tonnes of 0.44 per cent tin, 1.08 per cent copper and 0.66 per cent zinc.
James Hogg, a qualified person pursuant to the guidelines set out in NI 43-101, has reviewed and approved the technical disclosure in this news release on behalf of the company.
We seek Safe Harbor.
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