Corriente Resources Inc.: High-Grade Copper Centre Confirmed At Panantza, Fourth Major Copper System Identified In Belt.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 28, 2000 Corriente Resources Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CTQ CTQ Centre de Toxicologie du Québec CTQ Critical To Quality CTQ Cysteine Tryptophylquinone CTQ Confined to Quarters .) Results have been received for the first holes of the latest drilling program, which is being carried out on the Panantza Project, Corriente Copper Belt, Ecuador. Seventeen holes have been completed, with over 5000 metres drilled. The balance of the assays are expected to be available in December. Results confirm the interpretation that previous scout drilling by Billiton PLC had identified a high-grade centre for the Panantza porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. . Holes to date in this centre seem to be averaging above 0.8% copper. A much larger area of lower-grade 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. surrounds this high-grade core. Dimensions of the high-grade mineralization are approximately 300 X 300 metres and are expanding. Note that all the holes drilled within the high-grade core were stopped in mineralization due to depth limitations of the drilling equipment and remain open with depth. The best results are from hole PA-12 that returned a 300 metre metre In poetry, the rhythmic pattern of a poetic line. Various principles have been devised to organize poetic lines into rhythmic units. Quantitative verse, the metre of Classical Greek and Latin poetry, measures the length of time required to pronounce syllables, intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. of almost 1% copper starting at a depth of 29 metres. Mineralization is disseminated disseminated /dis·sem·i·nat·ed/ (-sem´i-nat?ed) scattered; distributed over a considerable area. dis·sem·i·nat·ed adj. Spread over a large area of a body, a tissue, or an organ. chalcopyrite chalcopyrite (kăl'kəpī`rīt, kăl`kōpī'rīt) or copper pyrites (pīrī`tēz, pə–), brass-yellow mineral, sometimes with an iridescent tarnish. (copper sulphide sulphide: see sulfide. ) with a thin zone of oxide oxide, chemical compound containing oxygen and one other chemical element. Oxides are widely and abundantly distributed in nature. Water is the oxide of hydrogen. Silicon dioxide is the major component of sand and quartz. copper (typically 10-45 metres thick) below a leached capping at the beginning of most of the drill holes. The following table outlines the results from the two previous Billiton holes in the area and the first five Corriente holes from the current program (a drill plan map and assays for all intervals are available at the company website).
Drillhole From To Interval Gold Copper Copper
(m) (m) (m) (g/t) (%) Equiv
---------------------------------------------------------------------
PA-3
(Billiton) 0 229 229 0.071 0.82 0.86
---------------------------------------------------------------------
PA-9
(Billiton) 0 401 401 0.121 0.85 0.91
(end)
---------------------------------------------------------------------
PA-12 0 29 29 0.018 0.27 0.30
---------------------------------------------------------------------
29 329 300 0.073 0.96 1.00
(end)
---------------------------------------------------------------------
PA-13 0 16 16 0.116 0.11 0.17
---------------------------------------------------------------------
16 323 307 0.067 0.76 0.79
(end)
---------------------------------------------------------------------
PA-14 Outside of high-grade centre
---------------------------------------------------------------------
PA-15 5 21 16 0.090 0.18 0.22
---------------------------------------------------------------------
21 67 46 0.144 0.71 0.78
---------------------------------------------------------------------
67 250 183 0.101 0.63 0.68
(end)
---------------------------------------------------------------------
PA-16 0 52 52 0.055 0.20 0.23
---------------------------------------------------------------------
52 340 288 0.051 0.92 0.95
---------------------------------------------------------------------
All drill holes are vertical holes except for PA-9, which was drilled
to the east at -57 degrees. Copper equivalent is calculated using a
formula where 1 g/t Au is equivalent to 0.5% copper.
The confirmation of the high-grade centre to Panantza is important to the project in that a high-grade starter pit is critical to achieving faster payback Payback The length of time it takes to recover the initial cost of a project, without regard to the time value of money. and attractive economics on any mining venture in the area. The nearby San Carlos San Carlos (săn kär`lōs), residential city (1990 pop. 26,167), San Mateo co., W Calif.; inc. 1925. The chief manufactures are plastic products, hardware, and machine parts. project (approximately 4 km east) may be able to play a part in the development of the Panantza project. Some of the better holes from that project include SC-09 with 293 metres of 0.82% Cu and SC-22 with 198 metres of 0.78% Cu. These holes suggest that high-grade resources may be available as an addition to those at Panantza. Corriente has now successfully investigated by drilling, three significant porphyry deposits since January of 2000. Two of those targets were previously undrilled discoveries. Results from drilling to date confirm that the Corriente Copper Belt is one of the premier copper exploration programs in the world. The porphyry deposits (Panantza, Mirador, Warintza and San Carlos) are part of a series of additional targets that are contained within the Corriente Copper Belt joint venture with Billiton PLC and Lowell Mineral Exploration. The district extends over an area at least 80 km north-south and 40 km east-west. Kenneth R. Shannon, President Disclosure statements as required by the TSE and National Instrument 43-101 are available at our website www.corriente.com The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved of the information contained herein. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion