COPPERSTONE RESOURCES AB: Intersects Significant Deep Mineralization at Svartliden and Eva
Copperstone Resources AB
Pressmeddelande
COPPERSTONE RESOURCES AB: Intersects Significant Deep Mineralization at
Svartliden and Eva
Copperstone Resources AB (Nasdaq First North “COPP B”) (“Copperstone” or the
“Company”) is pleased to announce assay results from three (3) deep drill holes
totaling 2,611m that have now been completed on the 100% owned Svartliden-Eva
exploration target in Norrbotten county, Sweden. Drilling work commenced 1st
February 2017 and was completed on 23rd May 2017, followed by a period for
final laboratory analyses.
The objective of the three drill holes was to test for deeper mineralization
of hydrothermal origin below the existing large drill hole data sets around
Svartliden and Eva (106 inclined collars, 14,830m, maximum 300m drilled
length), and to gain insights into the style, possible continuity and origins
of significant shallow intercepts of copper-gold-zinc mineralization at this
location. The geological information at greater depth allows better
understanding of the broader genetic model, and supports future deep
geophysical modelling and drill targeting. A single drill site location was
chosen central to the two areas, with COS17353 (hole 1) collared at -70 degrees
dip to the NNE to 1166m, COS17354 (hole 2) collared at -70 degrees to the SSW
to 572m, and COS17355 (hole 3) collared near vertical to 872.55m.
“Our first deep drilling campaign has proven that high grade vein-style
sulphide-hosted Cu-Zn mineralization does indeed extend well below both the
Svartliden and Eva areas. We have found veins with high grade zinc and even
deeper copper-rich veins. In addition, shallow low grade gold mineralization is
hosted in intensely silicified rock, with some decent higher grade zones. New
assay results are very encouraging and suggest a broad vertical metal zonation
pattern within the vein systems. We have now opened up the scale of the system
to a greater depth than ever before and begun to understand the broader
geology, alteration patterns and possible relationships to causative
intrusives” comments Chris McKnight, Chief Geologist and Director of
Copperstone.
“On the Company’s behalf I want to thank the international expert team for an
impressive accomplishment and Chris McKnight for creativity, determination and
years of dedicated work with the Copperstone project that has made the Company
reach this point. The three deep drill holes have opened up both the
understanding and the potential in the Copperstone project. All three drill
holes encountered mineralization and the precision became better and better
with interesting intercepts and occasionally record grades. The work with
finding the direction to and localize the epicenter and, in time, the size of
this new geological system in Norrbotten County now continues with OPTV,
further analysis and a technical report. Further project development is planned
for this autumn on both Svartliden/Eva and the exciting Granliden area”
comments Copperstone Chairman Michael Mattsson.
The following tables outline all significant assay results for each of the
three drill holes where individual samples contain one or more of the following
minimum values; Au > 0.4 g/t, Ag > 10 g/t, Cu > 0.4% and Zn > 1% (highlighted).
Drillhole: Dip: Azimuth: Length: Size:
COS17353 -70 deg 020 deg 1166.20 m NQ / BQ
--------------------------------------------------------------------------------
Intercept Au Ag Cu Zn
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from to (g/t) (g/t) (%) (%)
(m) (m)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
20,00 21,00 0,52 2,4 0,07 0,01
--------------------------------------------------------------------------------
26,00 27,00 0,37 7,2 0,57 0,05
--------------------------------------------------------------------------------
682,00 683,00 0,05 1,5 0,07 1,18
--------------------------------------------------------------------------------
698,00 699,00 0,19 12,1 0,63 0,20
--------------------------------------------------------------------------------
746,00 747,00 0,08 9,4 0,55 0,05
--------------------------------------------------------------------------------
768,00 769,00 0,11 8,4 0,74 0,05
--------------------------------------------------------------------------------
800,00 801,00 0,24 19,7 0,52 0,05
--------------------------------------------------------------------------------
813,00 814,00 0,51 0,3 0,00 0,02
--------------------------------------------------------------------------------
Drillhole: Dip: Azimuth: Length: Size:
COS17354 -70 deg 200 deg 572.00 m NQ
--------------------------------------------------------------------------------
Intercept Au Ag Cu Zn
--------------------------------------------------------------------------------
from to (m) (g/t) (g/t) (%) (%)
(m)
--------------------------------------------------------------------------------
14,40 16,00 0,58 2,6 0,03 0,48
--------------------------------------------------------------------------------
19,00 20,00 1,32 5,0 0,13 0,38
--------------------------------------------------------------------------------
20,00 21,00 2,20 4,8 0,12 0,27
--------------------------------------------------------------------------------
21,00 22,00 0,66 2,1 0,03 0,06
--------------------------------------------------------------------------------
22,00 24,00 1,37 3,2 0,06 0,12
--------------------------------------------------------------------------------
25,00 26,00 0,47 1,7 0,02 0,68
--------------------------------------------------------------------------------
458,00 459,00 0,11 7,3 0,05 1,50
--------------------------------------------------------------------------------
460,00 461,00 0,15 10,2 0,12 2,75
--------------------------------------------------------------------------------
464,00 465,00 0,48 5,1 0,04 5,55
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467,00 468,00 0,20 3,4 0,07 2,62
--------------------------------------------------------------------------------
468,00 469,00 0,05 6,9 0,07 1,87
--------------------------------------------------------------------------------
470,00 471,00 0,06 12,7 0,17 4,06
--------------------------------------------------------------------------------
Drillhole: Dip: Azimuth: Length: Size:
COS17355 -85 deg 200 deg 872.55 m NQ
--------------------------------------------------------------------------------
Intercept Au Ag Cu Zn
--------------------------------------------------------------------------------
from to (m) (g/t) (g/t) (%) (%)
(m)
--------------------------------------------------------------------------------
18,00 19,00 0,58 5,2 0,24 0,88
--------------------------------------------------------------------------------
44,70 46,00 0,35 7,2 0,49 0,04
--------------------------------------------------------------------------------
495,00 496,00 0,09 21,6 0,79 0,12
--------------------------------------------------------------------------------
496,00 497,00 0,12 3,1 0,07 1,12
--------------------------------------------------------------------------------
497,00 498,00 0,15 3,8 0,09 1,48
--------------------------------------------------------------------------------
503,00 504,00 0,77 5,9 0,13 0,13
--------------------------------------------------------------------------------
512,00 513,00 1,25 >100 1,97 5,54
--------------------------------------------------------------------------------
602,20 603,00 0,08 23,4 2,25 0,26
--------------------------------------------------------------------------------
603,00 604,00 0,07 19,7 1,20 0,16
--------------------------------------------------------------------------------
638,00 639,00 0,04 12,2 0,61 0,11
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684,00 685,00 0,05 10,6 0,26 0,03
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685,00 686,00 0,09 10,9 0,27 0,01
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At this stage, there is no proof of continuity that mineralization found at
depth is directly connected to any of the shallower intercepts. True widths of
mineralization are not known, and there is no inference towards possible
mineral resources.
Geology
The sulphide-hosted vein-style Cu-Zn-Au mineralization at Svartliden-Eva
suggests that a wide-spread hydrothermal system has evolved. Intense
silicification and weak potassic alteration (phyllic) is present within a
layered sequence of fine grained clastic sediments and related pre-mineral
mafic intrusives, and extends to depths of over 800m depth in COS17355.
Mineralization is also spatially related to the presence of hydrothermal
breccia bodies. Numerous post-mineral dykes, faults and altered porphyritic
intrusives have also been intersected. Biotite alteration is also evident from
the deepest parts of COS17353. 3D modelling of the geological, alteration and
assay data is ongoing.
Next steps
An Optical Televiewer (OPTV) study is currently underway down the new drill
holes in order to generate continuous oriented imagery. From dip / trend
analysis of mineralization zones and other geological boundaries in WellCad
software, continuity will be better understood. Such 3D analysis will also
generate guidance for further drilling campaigns. OPTV work is also
complimented by continuous down-hole IP and natural gamma measurements
(k-alteration mapping).
Qualified Person
These assay results have been reviewed and verified by Thomas Lindholm,
Director of Geovista AB, a qualified person as defined by JORC. Mr Lindholm has
more than 25 years of mineral exploration and mining experience and is
registered as a qualified person by the Fennoscandian Review Board.
Assays and Quality Assurance / Quality Control
Sample preparation including half-core sawing, crushing and pulverizing has
been carried out at ALS Minerals Laboratories, an accredited laboratory in
Malå. Prepared pulps are then couriered to their Analytical Laboratory in
Ireland. Sample analysis is then 4-acid digestion followed by ICP finish
(ME-MS61) for 49 elements, including Ag, Cu and Zn. All samples with greater
than 10,000ppm (1%) Cu and / or Zn are re-run with 4-acid digestion and then
ICP-AES finish (Cu-OG62 and Zn-OG62) with results reported in percentage. Gold
values are determined with a 30gm fire assay fusion with AAS finish (Au-AA23).
A certificated copper-gold standard reference sample as well as blanks and
duplicate samples were inserted at regular intervals in the sampling sequence
in order to maintain Quality Control (accuracy and precision).
In total 784 samples each with a drill length of approximately 1m were
submitted for assay. This represents approximately 30% of the drilled core in
this campaign. A total of 117 qaqc samples (blanks, standards and duplicates)
were also submitted at a 1:20 frequency.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking
statements, which relate to future events or future performance and reflect
management’s current expectations and assumptions. Such forward-looking
statements reflect management’s current beliefs and are based on assumptions
made by and information currently available to the Company. Investors are
cautioned that these forward looking statements are neither promises nor
guarantees, and are subject to risks and uncertainties that may cause future
results to differ materially from those expected. These forward-looking
statements are made as of the date hereof and, except as required under
applicable securities legislation, the Company does not assume any obligation
to update or revise them to reflect new events or circumstances.
For further information, please contact Per Storm, Copperstone, +46 705 94 90
24, e-mail: per.storm@copperstone.se or refer to Copperstone Resources webpage:
www.copperstone.se.
This press release contains insider information which Copperstone Resources AB
is obliged to publish according to the EU market abuse regulation (MAR). The
information was delivered by the above mentioned contact for publishing in
Swedish June 19th 2017 at 08:15 CET.
Copperstone Resources AB (publ) is a mining exploration company focusing on the
Copperstone project in the vicinity of the Skellefte field. This project has
the potential to become one of the biggest base- and precious metal deposits in
the Nordic Region.
Copperstone Resources has eight exploration tenements covering approx. 9260
acres and two mining concessions and one applied concession covering a total of
82 acres.
This press release have been revised and approved by the qualified person of
the Company, Thomas Lindholm M Sc at GeoVista AB,
The share (COPP B) of the Company is traded on Nasdaq First North Stockholm
with G&W Fondkommission as the Certified Adviser.
*) a glossary of geological term are found in the Copperstone Resource annual
report of 2016