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Enter Symbol
or Name
USA
CA



Copper Mountain Mining Corp
Symbol CUM
Shares Issued 89,880,002
Close 2011-01-12 C$ 6.30
Market Cap C$ 566,244,013
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Copper Mountain drills 94 m of 0.72% Cu at Copper

2011-01-13 08:52 ET - News Release

Mr. Peter Holbek reports

DRILLING BELOW PIT 3 INTERSECTS 94M GRADING 0.72% CU, 2.77G/T AG AND 0.11G/T AU.

Copper Mountain Mining Corp. is providing assay results from five diamond drill holes completed below Pit 3 and in the Saddle zone of the Copper Mountain project. Two deep holes (1,000 metres) were completed below the Pit 3 area and three holes are in the Saddle zone. An additional 12 holes have been drilled from the Saddle zone, of which six are deep, targeting geophysical anomalies and depth extensions to mineralization below the planned superpit. Splitting and assaying of this drill core are continuing.

Pit 3 area

Deep drilling below Pit 3 was designed to follow up on the 2008 drill results in hole 08P3-08 which intersected 292 metres grading 0.55 per cent Cu, 2.23 grams per tonne Ag and 0.14 g/t Au, an interval which was made up of a number of higher-grade intervals including 98 m grading 1.31 per cent Cu, 5.53 g/t Ag and 0.34 g/t Au. The 08P3-08 intersection occurs approximately 150 metres below the bottom of the planned superpit, and passed through the upper part of a large, deep-seated Titan-24 chargeability anomaly.

Drill hole 10P3-60 was recently drilled from a collar just to the south of the 08P3-08 collar with a slightly steeper dip and angled in a more southerly direction, resulting in subparallel hole to 08P3-08 but 120 metres deeper and 100 metres farther to the south. Mineralized zones within 10P3-60 (see table) correlated well with those in 08P3-08 but were of lower grades and narrower widths. Drill hole 10P3-61 was drilled from the west side of Pit 3 to form a scissor section with 10P3-60 and test the lower part of the deep chargeability anomaly. 10P3-61 intersected 94.0 m grading 0.72 per cent Cu, 2.77 g/t Ag and 0.11 g/t Au, approximately 80 m below the historical underground workings and immediately below the currently designed superpit. This high-grade intersection is likely part of the same zone that hosts the 98 m of 1.31 per cent Cu in 08P3-08, which is situated approximately 130 m deeper and 180 m farther to the north. Drill core between 459 m and 1,011 m in hole 10P3-61 did not encounter significant mineralization and more drilling will be required to understand the relationship between geology, mineralization and geophysical results in the large (700-metre-long by 400-metre-wide by 400-metre-deep) chargeability anomaly that underlies the Pit 3 area.


                SIGNIFICANT DRILL INTERSECTIONS, PIT 3 AREA

Hole ID     From (m)    To (m)  Interval (m)      Cu %    Ag g/t    Au g/t

10P3-60          334       352          18.0      0.25      1.02      0.01
10P3-60          379       401          22.0      0.40      1.03      0.03
10P3-60          860       881          21.0      0.37      1.90      0.27
10P3-60          940       952          12.0      0.98      6.83      0.49
10P3-60         1013      1040          27.0      0.26      1.31      0.34
10P3-61          365       459          94.0      0.72      2.77      0.11

Saddle zone

The Saddle zone is the ridge separating Pit 2 from Pit 1 and Pit 3. Current drilling targeted the part of the Saddle zone between Pit 2 and Pit 1 that is not included in the current mine plan because of insufficient drill information. Drill holes 10SD-60 and 10SD-61 intersected mineralization (see table) within an area classified as waste and consequently excluded from the mine plan. Delineation of ore within this area of the Saddle zone, and inclusion into the mine plan, provides additional resources and has the potential to facilitate deepening of the superpit. Drill hole 10SD-62 returned a near-surface intersection that will upgrade the reserves within the current mine plan area. Continued successful drilling on the property will result in incremental improvements to the current mine plan and/or increased mine life.


                  SIGNIFICANT DRILL INTERSECTIONS, SADDLE ZONE

Hole ID     From (m)    To (m)  Interval (m)     Cu %    Ag g/t     Au g/t

10SD-60         63.0      81.0          18.0     0.24      0.58       0.05
10SD-60        191.6     214.0          22.4     0.90      2.65       0.39
10SD-61         69.0     162.3          93.3     0.45      1.10       0.13
10SD-62          7.0      25.4          18.4     0.4       0.96       0.26

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 multidirectional vein intersections and within vein stockwork systems. Drill holes are usually drilled at angles of minus-45 or minus-55 degrees to provide the best indication of the lateral extents of vertically oriented mineralization.

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 analysis. The drilling program is being supervised by Peter Holbek, MSc, PGeo, a qualified person as defined by National Policy Instrument 43-101.

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