Corriente Resources Inc.: High-Grade Enriched Copper Zone Discovered at Mirador.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 2, 2003 As part of the pre-feasibility testwork underway at the Mirador Project in southeastern Ecuador, Corriente has received the results of a four-hole drill program, which tested two soil geochemical anomalies discovered during recent fieldwork field·work n. 1. A temporary military fortification erected in the field. 2. Work done or firsthand observations made in the field as opposed to that done or observed in a controlled environment. 3. on the project. These anomalies are located in an area approximately 3 km north and west of the Mirador Project and could impact the design of planned tailings Tailings (also known as tailings pile, tails, leach residue, or slickens[1]) are the materials left over[2] after the process of separating the valuable fraction from the worthless fraction of an ore. storage facilities as outlined in the Mirador scoping study. The northwest soil anomaly Abnormality or deviation. Pronounced "uh-nom-uh-lee," it is a favorite word among computer people when complex systems produce output that is inexplicable. See software conflict and anomaly detection. was tested by two angled drill (-60 degrees) holes, which were drilled from the same platform - one hole to the northeast and one to the southwest. Both drill holes intercepted a high-grade enriched copper zone under a leached cap approximately 75 metres thick. This discovery has the potential to provide an early source of high-grade copper for the nearby Mirador deposit, which could significantly improve the economics of mining operations. The new intersections of enriched copper (chalcocite chalcocite Sulfide mineral, Cu2S, that may be an important ore of copper. It belongs to a group of sulfide minerals formed at relatively low temperatures. Chalcocite alters to native copper and other copper minerals. 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. ) are approximately 100 metres apart and are open for extension in all directions. Planning for a follow-up drill program to outline the size of the new enriched copper zone is underway. Summary results are as follows:
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Hole From To Width(m) Zone Cu (%) Au (g/t)
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MN-3 0 110 110 Leached Low values 0.14
110 122 12 Enriched 1.52 0.09
122 298.7 176.7 Primary 0.35 0.09
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MN-4 0 120 120 Leached Low values 0.24
120 130 10 Enriched 1.53 0.21
130 250 120 Primary 0.39 0.17
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This is the third discovery of enriched secondary copper sulphides in the Corriente Copper Belt and the first in the vicinity of the Mirador project (see previously announced results from the Warintza Project such as hole W-01 with a 79 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, interval of 1.44% copper starting at a down hole depth of 63 metres). The southeast soil anomaly was also tested with two angled (-60 degrees) drill holes from a single platform, which were drilled to the northeast and southwest. These intersections are typical Mirador style mineralization and suggest the presence of a new 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. system that appears to be separate from the Mirador deposit. Additional drilling will be required to delineate this new porphyry zone, which is open for expansion in all directions. Summary results are as follows:
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Hole From To Width(m) Zone Cu (%) Au (g/t)
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MN-1 0 24 24 Leached Low values 0.10
24 89 65 Primary 0.50 0.12
89 107 18 Primary 0.80 0.11
107 143 36 Primary 0.44 0.12
143 203 60 Primary 0.71 0.12
203 298.7 95.7 Primary 0.52 0.07
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MN-2 0 21 21 Leached Low values 0.10
21 79 58 Primary 0.50 0.09
79 164.5 85.5 Primary 0.66 0.12
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The pre-feasibility work continues at Mirador. Corriente is currently carrying out a review to investigate the economics of contract mining, copper concentrate transport and port operations for the Mirador project. Corriente is also evaluating several funding options for the subsequent feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. and is looking to complete this step shortly. Corriente foresees the Mirador project as the key starter project for the phased development of the entire Corriente Copper Belt in Ecuador. Such a sequential development plan would maximize the potential to fund expansion from cash flow and minimize the amount of funds required from the market or lenders (See March 5, 2003 press release - Mirador Deposit Shows Robust Economics In New Study). In addition to this scoping study, Sumitomo Metal and Mining Co. of Japan recently completed a positive metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. study at Mirador (See July 23, 2003 press release). The Corriente Copper Belt currently is known to contain three deposits (Mirador, 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. , Panantza), with announced geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. resources of approximately 600 Million tonnes at a grade of 0.8% copper plus gold and molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. credits. The Belt also contains numerous undrilled targets, which have had preliminary field investigation but have not been the subject of follow-up drill programs. Corriente Recources Inc. is a Canadian based junior resource exploration and development company specializing in copper and copper-gold opportunities. The company's main focus is the development of the Corriente Copper Belt in Ecuador. In addition, Corriente has a global exploration alliance with BHP Billiton BHP Billiton is the world's largest mining company.[1] Its origin is in the 2001 merger of Australia's Broken Hill Proprietary Company (BHP) and the UK's Billiton, which has a South African background. The result is a dual-listed company. , one of the worlds largest mining companies. Corriente continues to review advanced copper and copper-gold exploration projects through this alliance. Kenneth R. Shannon, President Disclosure statements as required by the TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension 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. |
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