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.