Copperstone Resources AB
Pressmeddelande
COPPERSTONE RESOURCES AB: Geophysical Surveys commence to locate porphyry
copper mineralization targets
Published September 28th 2017
Copperstone Resources AB (“Copperstone” or “the Company”) is pleased to
announce that an integrated geophysical programme, including both a detailed
Ground Magnetic survey and a Natural Audio-Frequency Magnetotellurics (NSAMT)
survey has commenced. The objective of the survey is to locate high quality
geophysical anomalies that will be 3D modelled as drill-ready targets
prospective for discovery of porphyry style copper hydrothermal mineralization.
“These are exciting times for Copperstone and the exploration plans busy
unfolding at our property. We are fortunate to have available some of the
world’s best technical people, and state-of-the-art geophysical techniques at
our disposal for locating the tell-tale signs of large scale porphyry style
mineralization systems at our target areas. We are confident that geophysical
target generation will supplement our geological knowledge and the great
mineral possibilities that lie within that.” comments Chris McKnight, new CEO
for Copperstone.
NSAMT is a world-renown geophysical technique often applied in the discovery
and definition of large-scale porphyry copper mineralization systems. The
survey programme is being carried out by a highly experienced team of appointed
contractors and consultants assembled by Copperstone from Sweden, Germany,
Bulgaria, Burkina Faso and South Africa. The investigation format consists of
approximately 700 station positions (approximately 85 line km) using a 100m x
100m grid spacing, covering both the northern Granliden target and also the
southern Svartliden-Eva target. According to available literature NSAMT is a
passive electromagnetic imaging technique using the earth's magnetotelluric
field to map geological contacts and structure typically to depths of 500
meters or more. With the lower MT frequencies, imaging can be extended deeper.
The ability to identify geological features varies with depth and depends upon
target size, resistivity contrasts and contact geometry. NSAMT is a measure of
natural rock resistivity and can therefore also be used to directly detect
areas of larger scale disseminated copper mineralization as the presence of
sulphide veins can significantly increase local conductivity.
Porphyry copper mineralization is usually characterised by distinctive magnetic
signatures associated with hydrothermal magnetite that forms during the
alteration processes known to occur with this mineralization style. The Company
has also commissioned a new 3D Ground Magnetic survey to be carried out in
conjunction with the NSAMT survey and aid in the interpretation of conductive
anomalies. Best case targets from geophysical surveys for porphyry copper
mineralization will be close spatial relationships between magnetic and
conductive anomalies.
As previously reported, the 2017 deep diamond drilling has already confirmed
that high grade Cu-Au-Zn mineralization can be found at depths in excess of
600-700m under the Svartliden-Eva target area. In addition, the deep drilling
has also located phyllic-style alteration to similar depths. High grade
near-vertical vein systems are also found throughout the project area, and in
particular in the copper-rich veins in the Granliden area. Combined with the
presence of mineralized hydrothermal breccia, finely porphyritic
diorite-andesite intrusive bodies, the geotectonic setting of the project and
the general proximity to other known large scale porphyry copper deposits
located just 65km due north east, the Granliden and the Svartliden-Eva areas
are seen by the Company to be highly favourable settings for further
exploration and potential discovery of large scale porphyry style copper
mineralization systems.
The final products of the modelled NSAMT and Ground Magnetic surveys are
expected to be completed by the end of November 2017. In conjunction with the
current geological interpretation, anomalies will then be modelled in 3D in
order to generate drill-ready targets.
For further information, please contact Chris McKnight (CEO) at
+46(0)580-88890, or info@copperstone.se 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
September 28, 2017 at 15:10 CET.
Copperstone Resources AB (publ) is a mineral exploration company focusing on
the Copperstone project in the vicinity of the Skellefte field. This project
has the potential to become one of the largest base- and precious metal
deposits in the Nordic Region. Copperstone Resources has five exploration
tenements covering approx. 8756 hectares and two mining concessions and one
applied concession covering a total of 82 hectares.
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 Copperstone
Resources AB (publ) (“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
reinterpret results to date as the status of its assets and projects changes
with time expenditure, metals prices and other affecting circumstances.
The share (COPP B) of the Company is traded on Nasdaq First North Stockholm
with G&W Fondkommission as the Certified Adviser.