Metallica Resources Announces Drill Results for the El Morro Project, Chile.TORONTO -- Metallica Resources
Metallica Resources (TSX: MR and NYSE: MRB) is a Canadian based mineral and gold mining company. Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :MR)(AMEX AMEX See: American Stock Exchange :MRB MRB Malaysian Rubber Board MRB Material Review Board MRB Maintenance Review Board (Commercial Aircraft Industry and FAA) MRB Medical Review Board MRB Mortgage Revenue Bonds (secondary mortgage financial instrument) ) is pleased to report the results for the first nine diamond drill core holes totaling 4,731 meters from this season's drilling program at the El Morro El Morro is a Spanish term meaning "promontory" or "headland." Some places called el Morro:
See also: Report from an approximate 70 hole drilling program totaling 26,500 meters on the La Fortuna copper-gold resource. Metallica owns a 30% interest in the El Morro project, with Falconbridge Limited (TSX: FAL FAL FRAME (Fund for the Replacement of Animals in Medical Experiments) Alternatives Laboratory FAL Bundesforschungsanstalt für Landwirtschaft (federal research institute for agriculture, Braunschweig, Germany) .LV, NYSE NYSE See: New York Stock Exchange : FAL), Metallica's joint venture partner and project operator, owning the remaining 70% interest. The nine holes reported here ranged from 400 to 600 meters in vertical depth and were drilled as infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. holes around the outer portions of the La Fortuna copper-gold resource. In combination with last season's drilling program these nine holes effectively delineate the upper 450 meters of the La Fortuna resource to a uniform drill hole spacing of 100 meters, the average spacing required to elevate el·e·vate tr.v. ele·vat·ed, ele·vat·ing, ele·vates 1. To move (something) to a higher place or position from a lower one; lift. 2. To increase the amplitude, intensity, or volume of. 3. the resource classification from inferred to indicated status. To date, the resource has been defined within an approximate 700 by 900 meter area centering on the La Fortuna 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. stock. Highlights of these latest results include: - Holes DDHF-71 & 72, drilled along the outer northwestern margin of the resource, intercepted 100 meters grading 0.67% copper and 0.35 g/t gold, and 57 meters grading 0.92% copper and 0.33 g/t gold, respectively, in the secondary enrichment zone. - Holes DDHF-73 & 74, drilled in the southeastern portion of the resource, intercepted 632 meters grading 0.57% copper and 0.52 g/t gold, and 362 meters grading 0.68% copper and 1.11 g/t gold, respectively, of primary sulfide sulfide, chemical compound containing sulfur and one other element or sulfur and a radical. Sulfides may be salts or esters of hydrogen sulfide, H2S, or may be formed directly, e.g., by heating a metal with sulfur. 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. . - Hole DDHF-77, drilled in the east-central portion of the resource, intercepted 150 meters of leached cap rock grading 0.04% copper and 0.80 g/t gold immediately followed by 50 meters grading 1.91% copper and 0.63 g/t gold in the secondary enrichment zone. The objectives of the current drilling program are to further define the outer limits of the La Fortuna copper-gold resource and to elevate the resource classification from the current indicated and inferred categories to measured and indicated status. The results of this program will serve as the basis of a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. for the project due to be completed by Falconbridge by September 2007. Drill results for the nine holes reported herein are summarized below:
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LA FORTUNA INFILL DRILL HOLES - March 2006
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Hole No. From To Length Cu Au Comments
(m) (m) (m) % g/t
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DDHF-69 0.0 40.0 40.0 0.06 0.06 Leached Cap
40.0 62.0 22.0 0.48 0.07 Secondary
62.0 618.5 556.5 0.40 0.46 Primary
Includes 290.0 574.0 284.0 0.53 0.69 Primary
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DDHF-70 0.0 26.0 26.0 0.35 0.28 Leached Cap
& Mixed Cu
Oxides
26.0 88.0 62.0 0.58 0.36 Secondary
88.0 600.0 512.0 0.48 0.50 Primary
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DDHF-71 0.0 68.0 68.0 0.00 0.02 Gravels
68.0 232.0 164.0 0.12 0.18 Leached Cap
232.0 332.0 100.0 0.67 0.35 Secondary
332.0 422.0 90.0 0.14 0.17 Primary
- low grade
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DDHF-72 0.0 18.0 18.0 0.01 0.01 Gravels
18.0 227.0 209.0 0.03 0.33 Leached Cap
227.0 284.0 57.0 0.92 0.33 Secondary
284.0 518.0 234.0 0.27 0.44 Primary
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DDHF-73 0.0 22.0 22.0 0.07 0.21 Leached Cap
22.0 654.0 632.0 0.57 0.52 Primary
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DDHF-74 0.0 61.0 62.0 0.65 0.22 Secondary
& Mixed Cu
Oxides
61.0 502.0 441.0 0.61 0.96 Primary
Includes 140.0 502.0 362.0 0.68 1.11 Primary
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DDHF-75 0.0 16.0 16.0 0.07 0.40 Leached Cap
16.0 32.0 16.0 0.82 0.45 Secondary
32.0 500.0 468.0 0.41 0.36 Primary
Includes 346.0 500.0 154.0 0.59 0.57 Primary
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DDHF-76 0.0 58.0 58.0 0.01 0.01 Gravels
58.0 186.0 128.0 0.06 0.44 Leached Cap
186.0 254.0 68.0 0.43 0.51 Secondary
254.0 454.0 200.0 0.16 0.28 Primary
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DDHF-77 0.0 150.0 150.0 0.04 0.80 Leached Cap
150.0 200.0 50.0 1.91 0.63 Secondary
200.0 462.0 262.0 0.48 0.63 Primary
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ACTLABS CHILE S.A. of Coquimbo, Chile, using internal standards and Gannet gannet: see booby. gannet Any of three oceanic bird species (family Sulidae) closely related to the booby. Gannets are found in the North Atlantic, where they are the largest seabirds, and in temperate waters around Africa, Australia, and New certified standards, has completed all of Falconbridge's analytical work for this drilling campaign. The analytical method used is geochemical analysis for the copper and fire assay with an atomic absorption finish for the gold values. ACTLABS is certified by the ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001:2000 standards. Falconbridge maintains a rigorous and ongoing quality control program using project specific standards and blank samples. The qualified person as defined by NI 43-101 responsible for the design and conduct of the work performed is Michael Donnelly Michael Donnelly may refer to
As reported in a previous Metallica press release, at a copper-equivalent cut-off cut-off Anesthesiology The point at which elongation of the carbon chain of the 1-alkanol family of anesthetics results in a precipitous drop in the anesthetic potential of these agents–eg, at > 12 carbons in length, there is little anesthetic activity, grade of 0.4% using metals prices of $1.00/lb copper and $400/oz gold, the La Fortuna deposit includes indicated resources totaling 209 million tonnes grading 0.67% copper and 0.59 g/t gold and inferred resources totaling 538 million tonnes grading 0.46% copper and 0.39 g/t gold. Metallica's 30% interest in the La Fortuna resource equates to approximately 0.93 billion pounds of copper and 1.2 million ounces of gold in the indicated category, and 1.6 billion pounds of copper and 2.0 million ounces of gold in the inferred category. The resource estimate for the La Fortuna deposit is classified as an indicated and inferred mineral resource in accordance with Canadian Institute of Mining, Metallurgy and Petroleum The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) is a technical society of professionals in the Canadian minerals, metals, materials and energy industries. It was founded in 1898. In 2006, the organization had 12,000 national members. definitions for mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature and mineral reserves. The estimate is based entirely on data provided to Metallica by Falconbridge. The geologic model for the estimate has been developed by qualified Metallica and Norwest professionals. The Qualified Persons, as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, responsible for the design and completion of the updated resource estimate are Bruce M. Davis, Fellow - AusIMM and Chief Geostatistician for Norwest Corporation and Mark Petersen, Certified Professional Geologist - AIPG AIPG American Institute of Professional Geologists and Exploration Manager for Metallica Resources. Metallica Resources is an emerging gold and silver producer focused on the exploration and development of precious metal rich properties throughout the Americas. It currently has 83.5 million shares outstanding. For further details on Metallica Resources, please visit the Company's website at www.metal-res.com. THE STATEMENTS IN THIS PRESS RELEASE THAT ARE NOT HISTORICAL FACTS CONTAIN FORWARD LOOKING INFORMATION. THESE STATEMENTS ADDRESS FUTURE EVENTS INVOLVING KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO VARY MATERIALLY FROM PROJECTED RESULTS. THESE RISKS AND UNCERTAINTIES INCLUDE THOSE DESCRIBED IN METALLICA'S FORM 20-F. To view a map of the La Fortuna Drill Hole Locations as of February 2006 please click on the following link: http://www.ccnmatthews.com/docs/fortuna.pdf Metallica Resources Inc. (TSX:MR) (AMEX:MRB) |
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