Published 28th September 2018
Copperstone Resources AB (“Copperstone” or “the Company”) is building a model to define a large-scale copper resource at Granliden/Svartliden. The model also opens up significant blue-sky potential. An Inferred Resource is to be established by the end of October 2018.
Following the 2018 drilling campaign and analyses of new and old drill cores, the Company is now building a combined geological and grade model for the project, and is in the process of estimating the code-compliant Mineral Resources at Granliden Hill and Svartliden.
The Mineral Resource estimates are subject to verification by a Qualified Person according to the 2017 PERC Standard. The quantified results will be communicated when verified, hopefully at the end of October 2018. Results are expected to be well in excess of the previously communicated (2014) Exploration Target of 60-100 million tonne but with grades of approximately 0.3-0.5% Cu (Zn).
Copper mineralisation at Granliden Hill is open to the north, with historic drill holes nearly 1km away intercepting similar style mineralisation at exceptional grades. The blue sky potential of the project is seen to be substantial and further regular spaced drilling is cardinal to unlocking and upgrading the Mineral Resource potential.
“The last four years of creative exploration is building towards a very significant answer in the copper industry of Sweden. In combination with the large base of historic drill cores, we are steadily proving our hypothesis. Our new model is coherent and exciting, bringing together all we have discovered and the fantastic results we have created this year. I’m confident that there is at least a ten-fold increase of the current Inferred Mineral Resources, and still substantial blue sky potential beyond that.” says CEO Chris McKnight.
The Competent Person’s Report will be provided by Geovista AB under the supervision of registered Qualified Person Thomas Lindholm.
For further information, please contact Chris McKnight (CEO) at +46(0)580-88890, or email@example.com 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 28th September 2018 at 08:30 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 and the Såggården No.1 (199ha) exploration permit 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.
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. Note that the calculations and estimations by Copperstone above are NOT code compliant at this stage and are subject to approval by the QP. The final results will be made available in the Competent Person’s Report. These figures cannot be used under any circumstances for any form of economic assessment of the project.