CastleRock Terminates Dover Option Agreement.TORONTO -- CastleRock Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CRI CRI constant-rate infusion. ) has concluded the drilling program at its Dover Cu-Au project near Morenci, Arizona Morenci is a census-designated place (CDP) in Greenlee County, Arizona, United States. The population was 1,879 at the 2000 census. The biggest employer in Morenci is Phelps Dodge Corporation, the owner of the Morenci Mine, the largest copper mining operation in North America, and . A core drilling program of 3719 meters was completed in late May. A total of 15 drill holes tested seven specific targets in five general areas. Copper mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. associated with oxidation after primary copper sulfides minerals were encountered in virtually all of the holes. However, economic grades over minable thicknesses were not encountered. Consequently CastleRock will terminate the Option Agreement with Dover Copper Mining Company to acquire approximately 10 square kilometers of private fee lands. However, State sections 29 and 30 are currently under review by the Company to evaluate additional targets that remain to the west in areas not previously examined by CastleRock, including several breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. pipes carrying copper-gold mineralization at surface. CastleRock is continuing the due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. evaluation required in connection with the contemplated purchase of the Sierra Miranda copper mine in northern Chile. CastleRock recently announced that it secured an option to extend the term of its previously announced letter of intent with Sierra Miranda S.C.M. (see press release dated April 7, 2004 on website: www.castlerockresources.com) to acquire the Sierra Miranda copper mine and related assets in northern Chile. CastleRock now has until November 30, 2004 to ensure that the closing conditions are satisfied. The Sierra Miranda copper mine is located within the major copper producing region of northern Chile, approximately 65 kilometers northeast of Antofagasta and 23 kilometers north of Anglo American's Mantos Blancos copper mine. Sierra Miranda produces about 20 million pounds of copper annually using low cost Solution Extraction - Electrowinning technology (SX-EW). In addition to the mine, crushing and heap leach recovery facilities, the property includes 113 square kilometers of highly prospective exploration terrain. The acquisition of the Sierra Miranda copper operation will position CastleRock as a growth-oriented copper-gold production company with a geographic focus in the Americas. The information in this release has not been reviewed nor approved by the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. and the issuer is solely responsible for its content. |
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