Published 02 January 2018
Copperstone Resources AB (“Copperstone” or “the Company”) is pleased to announce that deep core drilling has today commenced on the main porphyry copper mineralisation target at the exploration property in Arvidsjaur Kommun, Norrbotten County, northern Sweden. Drilling work is being carried out by Styrud Arctic AB, with geological support from the new Copperstone team and core logging facilities now in place in Malå. Over a period from January until July 2018 the Company plans to drill up to approximately 8000m of N-size core. Individual angled drill holes may be up to 800m in length (8-10 collars), and perhaps deeper depending on the intersection depths of targeted mineralisation.
Since February 2017 the Company had embarked on a deep drilling campaign to locate and prove the existence of proposed porphyry-style copper-gold mineralization on the property. After drilling of three deep holes in the Svartliden-Eva area, the Company then carried out an integrated geophysical survey in late 2017 to enable better definition of large-scale alteration patterns, interpretation of the geology and refinement of the porphyry-style genetic model.
On the 12th December 2017 the Company presented the outcome of that integrated geophysical survey and concluded that the main target for potential discovery of porphyry-style copper mineralization lies at depth in the Granliden area. The key geophysical target is a blind magnetic body flanked by more resistive alteration and haloed by a well-defined conductive advanced argillic alteration front. To date no drill holes have penetrated the inner part of this target.
Chalcopyrite mineralization found in shallower drill holes is interpreted as leakage veining within the proximity of the target area. There is also a broad metal-sulphide zonation pattern on the property suggesting that the Granliden area is more proximal to the causative source of this property-wide showing. Historic shallow drill holes close to the target area have also intercepted hydrothermal magnetite selvedges directly associated with chalcopyrite veining. Therefore it is interpreted that the deep magnetic body may be caused by more extensive hydrothermal magnetite developed within the apex of a mineralised stock, commonly associated with the inner potassic alteration zone of a porphyry-style stockwork system.
Throughout the campaign, drill and assay interpretations will be announced progressively as they become available to the Company.
“The Copperstone property represents a significant target for discovery of porphyry-style copper-gold mineralisation. It’s been quite some journey to build this case, by consistently adding further geological knowledge to our growing genetic model. This is exciting frontier exploration, and our persistent endeavors seek to unlock the true possibilities on this property, not only for our patient shareholder base but also for the exploration community of Sweden in general.
There is no doubt that past exploration efforts have found key elements of a big hydrothermal system at play, and now it is time to resolve that hypothesis. Today the drill rig is mobilizing. ” comments Chris McKnight CEO for Copperstone.
For further information, please contact Chris McKnight (CEO) at +46(0)580-88890, or firstname.lastname@example.org or refer to Copperstone webpage: www.copperstone.se.
This press release contains insider information which Copperstone Resources AB (publ) is obliged to publish according to the EU market abuse regulation (MAR). The information was delivered by the above mentioned contact for publishing January 02 2018 at 1500 CET.
Copperstone Resources AB is a public company trading as COPP B on NASDAQ First North (Stockholm). The Certified Adviser is Augment Partners AB. The Company is focused on base and precious metal exploration in the vicinity of the internationally-recognized mining region of the Skellefte-field in northern Sweden. The Copperstone project is situated on four contiguous exploration permits in Norrbotten County (Sandberget 100 (8074ha), Sandberget 200 (19ha), Sandberget 300 (19ha) and Svartliden 1001 (444ha). In addition the Company owns one exploitation concession within the same area, namely Svartliden k no. 1 (36ha) and an approved application for Eva k no. 1 (34ha) subject to an objection. The Company also owns the Tvistbogruvan k no. 1 (11ha) exploitation concession in the Bergslagen mining region of central Sweden. Quoted surface areas are approximate to the nearest hectare. All exploration permits and exploitation concessions are 100% owned, either directly or through a subsidiary.
All information in this press release has been reviewed and approved for publication by the appointed independent Qualified Person Mr Thomas Lindholm (M.Sc. Mining Engineering) of Geovista AB. Mr Lindholm is a registered Member of the Fennoscandian Review Board and has in excess of 35 years’ experience in mineral exploration in Sweden and abroad and is a Qualified Person under the Nasdaq First North Stockholm rules. Mr Lindholm consents to the inclusion of the information in the form and context in which it appears.
News releases, presentations and public commentary made by the Company, and its Officers, may contain certain statements and expressions of belief, expectation or opinion which are forward-looking statements, and which relate, inter alia, to interpretations of exploration results to date and the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s Directors. Such forward-looking and interpretative statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such interpretations and forward-looking statements. Accordingly, the reader should not rely on any interpretations or forward-looking statements; and save as required by the exchange rules of NASDAQ First North (Stockholm) for listed companies or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may re-interpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances.