Mr. Brad Mercer reports
CAPSTONE STEPS OUT INTO 5.1M OF 7.6% CU AT COZAMIN: DRILLING CONTINUES TO DELIVER AMONGST THE BEST RESULTS EVER
Capstone Mining Corp. has released additional high-grade copper and silver results from five infill and 22 stepout drill holes at its Cozamin mine, further to the update of Jan. 16, 2020. The drilling program, aiming to double the current reserve base, is three months ahead of schedule with 177 holes of the 200-hole program completed. The results continue to demonstrate greater widths and higher grades than current mineral reserves, as well as the potential for an expanded high-grade resource. An updated mineral resource and mineral reserve estimates will be completed in late 2020. Cozamin is expected to achieve a 50-per-cent increase to annual copper and silver production of 50 million to 55 million pounds and 1.5 million ounces, respectively, by 2021.
"These drill results, as well as the set released in January, are amongst the best-ever drilled at Cozamin. Despite the temporary ramp-down of operations at Cozamin, due to COVID-19 restrictions in Mexico, we are well ahead of schedule and still expect to deliver an updated mineral resource and mineral reserve estimate and technical report by the end of this year," said Brad Mercer, senior vice-president, exploration and operations.
Darren Pylot, Capstone's president and chief executive officer, said: "Challenging times highlight the importance of having a safe, high-grade, low-cost and efficiently managed mining operation within your portfolio. These results support our belief that Cozamin will remain a crown jewel asset for this decade and longer."
Highlighted drill results are summarized in the associated table and full results for all previously unreleased holes since the Jan. 16, 2020, news release are in another table.
SELECTED MNFWZ DRILLING COMPLETED SINCE THE JAN. 16, 2020, NEWS RELEASE
Drill hole ID From To Width True width* Cu Zn Pb Ag
(m) (m) (m) (m) (%) (%) (%) (g/t)
CG-20-S471 567.5 574.1 6.6 5.1 7.58 0.26 0.01 113.1
including 567.5 572.3 4.8 3.7 9.61 0.32 0.01 140.8
CG-20-S473 629.9 635.8 5.9 5.2 5.16 0.15 0.00 92.2
including 629.9 633.8 3.9 3.4 7.38 0.21 0.01 130.8
CG-20-S466 614.7 625.1 10.4 7.3 3.70 0.12 0.01 64.1
including 620.9 625.1 4.2 2.9 6.16 0.19 0.01 105.3
CG-20-S476 603.2 607.4 4.2 3.2 5.94 0.18 0.01 100.7
CG-20-S470 552.5 572.5 20.0 16.7 4.87 0.23 0.02 131.0
including 563.8 572.5 8.7 7.2 6.95 0.40 0.04 213.3
* Estimated true width of vein intercept for inclined drill holes.
The best grade-by-thickness intercepts lie outside of the current mineral reserve. There
is a strong correlation between copper and silver grades.
ALL MNFWZ DRILLING COMPLETED SINCE THE JAN. 16, 2020, NEWS RELEASE
Drill hole ID From To Width True width* Cu Zn Pb Ag
(m) (m) (m) (m) (%) (%) (%) (g/t)
CG-20-S475 431.0 441.7 10.7 8.6 1.55 0.16 0.05 65.7
including 432.3 438.5 6.2 5.0 2.30 0.25 0.08 95.4
CG-20-S479 534.4 535.1 0.7 0.7 3.94 0.29 0.02 102.0
CG-20-S470 552.5 572.5 20.0 16.7 4.87 0.23 0.02 131.0
including 563.8 572.5 8.7 7.2 6.95 0.40 0.04 213.3
CG-20-S458 548.1 578.0 29.9 21.3 2.06 0.20 0.01 52.7
including 562.5 567.1 4.6 3.3 7.11 0.43 0.02 217.2
CG-20-S465 551.8 569.8 18.0 15.5 1.34 0.05 0.01 24.3
including 552.3 566.7 14.4 12.4 1.59 0.05 0.01 28.5
CG-20-S461 480.9 484.8 3.9 3.7 3.45 0.16 0.02 67.6
including 481.8 484.3 2.5 2.3 5.06 0.23 0.02 92.0
CG-20-S472 402.5 403.3 0.8 0.7 1.09 0.03 0.01 27.2
CG-20-S468 378.9 384.5 5.6 4.9 0.88 0.11 0.01 40.6
including 378.9 380.8 1.9 1.6 1.92 0.26 0.02 97.6
CG-20-S464 468.8 473.1 4.3 4.1 2.80 0.39 0.02 58.1
including 469.9 471.5 1.6 1.5 6.86 0.68 0.02 122.4
CG-20-S469 457.8 466.8 9.0 8.3 1.78 0.06 0.01 38.4
including 458.4 460.4 2.0 1.8 6.29 0.16 0.01 123.7
CG-20-S480 399.0 403.0 4.0 3.6 2.76 0.10 0.01 58.4
including 399.0 401.2 2.2 2.0 4.17 0.15 0.01 78.4
CG-20-S463 381.5 384.0 2.5 2.3 0.67 0.07 0.01 22.0
including 381.5 383.2 1.7 1.6 0.89 0.08 0.01 28.7
CG-20-S459 393.7 394.4 0.7 0.6 0.88 0.06 0.07 44.5
CG-20-S474 459.2 461.9 2.7 2.5 8.28 0.22 0.02 157.0
CG-20-S478 439.5 452.5 13.0 12.3 2.33 0.08 0.01 51.6
CG-20-S473 629.9 635.8 5.9 5.2 5.16 0.15 0.00 92.2
including 629.9 633.8 3.9 3.4 7.38 0.21 0.01 130.8
CG-20-U507 522.1 522.8 0.7 0.6 2.36 0.11 0.01 40.0
CG-20-U508 496.5 501.9 5.4 5.1 0.94 0.04 0.01 16.6
including 500.8 501.9 1.1 1.0 2.93 0.09 0.01 53.0
CG-20-U509 no significant intercepts
CG-20-U510 no significant intercepts
CG-20-S466 614.7 625.1 10.4 7.3 3.70 0.12 0.01 64.1
including 620.9 625.1 4.2 2.9 6.16 0.19 0.01 105.3
CG-20-S460 552.2 552.8 0.6 0.5 0.53 0.47 0.04 18.7
CG-20-S476 603.2 607.4 4.2 3.2 5.94 0.18 0.01 100.7
CG-20-S462 549.4 552.4 3.0 2.9 0.36 0.01 0.00 10.4
CG-20-S471 567.5 574.1 6.6 5.1 7.58 0.26 0.01 113.1
including 567.5 572.3 4.8 3.7 9.61 0.32 0.01 140.8
CG-20-S467 521.8 522.8 1.0 0.9 2.24 0.66 0.01 41.2
CG-20-S477 528.5 531.8 3.3 2.7 2.58 0.17 0.01 43.7
including 530.9 531.8 0.9 0.7 7.39 0.27 0.01 125.0
* Estimated true width of vein intercept for inclined drill holes.
Methodology
All samples were submitted for preparation by ALS at its facilities in Zacatecas, Mexico, followed by analysis at the ALS Laboratory in North Vancouver, Canada. The entire sample is crushed to a minimum of 70 per cent passing two millimetres. A 250-gram subsample of the crushed material is then pulverized to 85 per cent passing 75 microns. Copper, zinc, lead and silver are determined by ICP (inductively coupled plasma) analysis after four-acid digestion of a 0.25 to 0.4 g subsample of pulverized material. Quality assurance/quality control samples in each batch of 20 samples include a blank, a certified reference material and a duplicate (one of a field, coarse reject or pulp reject).
About Capstone Mining Corp.
Capstone Mining is a Canadian base metal mining company, focused on copper. Its two producing mines are the Pinto Valley copper mine located in Arizona and the Cozamin copper-silver mine in Zacatecas state, Mexico. In addition, Capstone has the large-scale 70-per-cent-owned copper-iron Santo Domingo development project in Region III, Chile, in partnership with Korea Resources Corp., as well as a portfolio of exploration properties. Capstone's strategy is to focus on the optimization of operations and assets in politically stable, mining-friendly regions, centred in the Americas.
We seek Safe Harbor.
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