Copper Mountain announce drilling depth extent testing at New Ingerbelle

Highlights:

• Hole 20IG-01 returned 585 m of 0.51% CuEq (0.33% Cu, 0.21 g/t Au, 0.45 g/t Ag), including 213 m of 0.75% CuEq (0.50% Cu, 0.29 g/t Au, 0.63 g/t Ag).
• Hole 20IG-02 returned 120 m of 1.02% CuEq (0.69% Cu, 0.37 g/t Au, 1.55 g/t Ag).

“These results indicate the immense potential that is inherent in New Ingerbelle,” commented Gil Clausen, Copper Mountain’s President and CEO. “The drill programme shows that mineralisation extends for at least an additional 250 m below the design pit. Both holes terminated in ore, so we have not cut off the mineralisation in any form. We are nowhere near understanding the extent of mineralisation at New Ingerbelle. As a result of this drilling, we believe there is considerable potential to materially increase the mineral resource and ultimately the mineral reserve.”

Clausen added: “Further, the average copper and gold grades of these wide intercepts are above the average mineral reserve grade at New Ingerbelle. New Ingerbelle has meaningful precious metals exposure with nearly 40% of its reserve value comprised of gold and silver. We plan to continue to invest in drilling at New Ingerbelle as the deposit is completely open.”

Drilling was designed to test mineralisation continuity at depth in the central part of the deposit area. Geology, alteration intensity and copper to gold ratios are consistent over the entire known vertical extent of mineralisation. These positive drill results will be incorporated into the company’s annual mineral reserve and mineral resource update in the 4Q20.

The two drill holes were drilled in scissor fashion, roughly east-west, on sections spaced 200 m apart in the north-south direction. As sulfide bearing fractures have a strong vertical orientation, angle drilling provides a better representation of grade distribution. Mineralisation in the New Ingerbelle deposit is hosted in both volcanic and intrusive rocks with grade distribution related to fracture patterns and host rock chemistry. The New Ingerbelle deposit has reserves of 193 million t grading 0.24% Cu, 0.15 g/t Au and 0.48 g/t Ag containing 1.0 billion lbs of copper, 929,000 oz of gold and 3.0 million oz of silver as at 1 January 2020. New Ingerbelle is situated 1 km west of the Copper Mountain Main Pit.

Read the article online at: https://www.globalminingreview.com/mining/09092020/copper-mountain-announce-drilling-depth-extent-testing-at-new-ingerbelle/