'Encouraging' drill results at New Ingerbelle

Copper Mountain's President and CEO, Gil Clausen, commented: "These early phase 2 drill results are very encouraging, and we believe demonstrate that New Ingerbelle will continue to grow in quality and size. We see New Ingerbelle as having transformative potential for our operations in B.C. providing further growth opportunity for the company." 

Copper Mountain initiated a 3-Phase drilling programme at the New Ingerbelle Mine last year with Phase 1. The Phase 1 programme, which consisted of 22 drill holes, was successful in validating and confirming historical data, thus allowing a revised Mineral Resource estimate using both historical and new drill data. The programme also confirmed the significant gold mineralisation at New Ingerbelle (see 1 February 2018 press release).

According to Copper Mountain, the objectives of this Phase 2 drilling programme are to continue to expand the New Ingerbelle resource area and to convert Inferred Mineral Resources to the Measured and Indicated status. A total of 30 holes are planned. Complete drill results from this programme followed by an updated Mineral Resource estimate is expected to be released in 3Q18.

Highlights to date include:

• Hole 18IG-06 returning 105 m of 1.03% CuEq (0.71% Cu, 0.87 g/t Ag, 0.47 g/t Au), which includes: 
  • 30 m of 2.22% CuEq (1.53% Cu, 2.02 g/t Ag, 1.01 g/t Au), and, 
  • 48 m of 0.83% CuEq (0.58% Cu, 0.58 g/t Ag, 0.37 g/t Au) 
  • Hole 18IG-03 returning 63 m of 0.91% CuEq (0.56% Cu, 0.91 g/t Ag, 0.51 g/t Au) and 117 m of 0.50% CuEq(0.35% Cu, 0.49 g/t Ag, 0.22 g/t Au) 
• Hole 18IG-01 returning 165 m of 0.63% CuEq (0.44% Cu, 0.60 g/t Ag, 0.29 Au g/t), which includes: 
  • 93 m of 0.81% CuEq (0.55% Cu, 0.74 g/t Ag, 0.38 g/t Au), and, 
  • 48 m of 0.56% CuEq (0.4% Cu, 0.52 g/t Ag, 0.24 g/t Au)
• Hole 18IG-02 returning 60 m of 0.70% CuEq (0.47% Cu, 0.98 g/t Ag, 0.33 g/t Au) 
• Hole 18IG-05 returning 48 m of 0.72% CuEq (0.49% Cu, 1.05 g/t Ag, 0.33 g/t Au), which includes: 
  • 21 m of 1.19% CuEq (0.8% Cu, 1.73 g/t Ag, 0.56 g/t Au)

The company's aim under the 3-phase programme at New Ingerbelle is to outline sufficient resources to form the basis of a feasibility study on the development potential of this historic producing mine. The company's target is to add a minimum of 150 million t of Measured and Indicated resource to commence that study.

Read the article online at: https://www.globalminingreview.com/exploration-development/25072018/encouraging-drill-results-at-new-ingerbelle/