Danderyd March 20, 2019
COPPERSTONE RESOURCES AB: EYES ON KIRUNA – VISCARIA SCOPING STUDY PUBLISHED
Following the closing of the Viscaria acquisition, Copperstone has initiated the networking with the local community, land and stake holders. The Board has established an indicative plan for near-term and mid-term development, to be addressed with local interests prior to and during work permit applications. On a corporate level, designed core drillings program for Viscaria and the Copperstone project are currently being developed. Scoping Study 2016 is attached.
Copperstone has established an overall 24-month plan (until construction decision) for the development of the Viscaria project and has initiated the recruitment for a Project Manager; Chief Geologist; work plan application for exploration and resource drilling; timing of which to be determined in order to mitigate side effects on local environment and interests. The near-term plan also includes intensified Environmental base line studies required for the application at the Land and the Environmental Court.
Over the upcoming 24 months, indicatively 12 km D-zone drillings and 10km infill (and step-out resource) drillings A and B zones are planned, in parallel with feasibility studies. The ongoing environmental studies will be supplemented by a so-called gap analysis, transition of all historical data into today’s legal requirements to open this copper mine. Copperstone is seeking partnership with advisors for the application process.
The Company has funds to initiate the planned work with core drillings and analyses, and will seek further financing through directed issue and will do a European road show during April 2019. A prospectus regarding an equity issue for equal rights to funding by current shareholders, as well as potential further financing from Yorkville Advisors, are being prepared as alternatives.
For the Copperstone project area, a core drilling campaign of 5-8 km (subject to work permit and additional financing) is planned, targeting the significant conductive zones outside the Micon resource boundary North of Granliden (please refer to PR December 20, 2018) and East of the extensive historical shallow drillings at Eva.
Regarding the Awarded and Appealed exploration permit Sandberget 500, the Mining Inspectorate has rejected the Appeal (please refer to PR March 5, 2019) and the Administrative Court of Luleå will decide.
The Updated Summary Scoping Study of Spring 2016 is attached to this Press release.
“We are very excited to make a first development attempt in our new project area by taking the relevant contacts, meetings and to pursue from there in due course.”, comments Michael Mattsson at Copperstone.
For further information, please contact CEO Michael Mattsson, +46 705 739 777, email@example.com, firstname.lastname@example.org or visit the Copperstone website at
This press release contains insider information which Copperstone Resources AB (publ) is obliged to publish according to the EU market abuse regulation (MAR). This information was submitted for publication, through the above contact person’s agency, 08:00 CEST on March 20, 2019.
Copperstone is a public company trading as COPP B on NASDAQ First North (Stockholm). The Certified Adviser is Augment Partners AB, email@example.com, +46 8 505 65 172. The Company is focused on base and precious metal exploration in the vicinity of the internationally recognized mining districts of Kiruna and the Skellefte-field in northern Sweden. In addition, the Company also owns an exploitation concession and an exploration permit in the Bergslagen mining region, in central Sweden.
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 Association for Metals and Mining Professionals, FAMMP, 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.