Danderyd March 21, 2019
Company announcement – Updated information on Mineral Resources
Further to the MAR Release March 8, 2019, Copperstone together with its QP are pleased to publish a detailed update and clarification regarding the New Copperstone Mineral Resources.
Mineral Resources Table
| PERC 2017 | mton | Cu (%) | Cu (kton) | Zn (%) | Zn (kton) | Au (g/t) | Au (t) | Ag (g/t) | Ag (t) | |||||||||||||||||
| Exploration Target – Granliden | 150-210 | 0,25%-0,45% | 375-945 | |||||||||||||||||||||||
| Total | 180 | 375-945 | ||||||||||||||||||||||||
| PERC 2017 (Viscaria JORC 2012) | mton | Cu (%) | Cu (kton) | Zn (%) | Zn (kton) | Au (g/t) | Au (t) | Ag (g/t) | Ag (t) | |||||||||||||||||
| Measured – Viscaria | 14,6 | 1,7 | % | 242 | ||||||||||||||||||||||
| Indicated – Viscaria | 19,2 | 1,1 | % | 212 | ||||||||||||||||||||||
| Inferred – Viscaria | 18,7 | 0,8 | % | 156 | ||||||||||||||||||||||
| Inferred – Granliden Svartliden | 26,4 | 0,4 | % | 114 | 0,1 | % | 32 | 0,08 | 2 | 5,9 | 155 | |||||||||||||||
| Total | 78,8 | 724 | 32 | 2 | 155 | |||||||||||||||||||||
| Historical resources | mton | Cu (%) | Cu (kton) | Zn (%) | Zn (kton) | Au (g/t) | Au (t) | Ag (g/t) | Ag (t) | Pb (%) | Pb (kton) | |||||||||||||||
| Exploitation Concession Eva* | 5,2 | 0,25 | % | 13 | 2,39 | % | 123 | 0,96 | 5 | 38 | 197 | 0,4 | % | 19 | ||||||||||||
| Exploitation Concession Tvistbo** | 0,6 | 3,30 | % | 19 | 22 | 13 | 2,6 | % | 15 | |||||||||||||||||
| Exploitation Concession Tvistbo*** | 0,3 | 3,00 | % | 8 | 20 | 6 | 2,5 | % | 7 | |||||||||||||||||
| Total | 6,0 | 13 | 151 | 5 | 216 | 41 | ||||||||||||||||||||
| * Valid until 2042. Indicated by North Atlantic Natural Resources. For more information, please refer to Copperstone Annual Report 2017. | ||||||||||||||||||||||||||
| ** Valid until 2037. Indicated according to independent consultant. For more information, please refer to Copperstone Annual Report 2017. | ||||||||||||||||||||||||||
| ** Valid until 2037. Inferred according to independent consultant. For more information, please refer to Copperstone Annual Report 2017. | ||||||||||||||||||||||||||
PERC 2017
PERC 2017 is the current version of disclosure standards of the Pan-European Reserves and Resources Reporting Committee, recommended for use by the Fennoscandian Association for Metals and Minerals Professionals.
The PERC 2017 reporting standard can be downloaded from www.copperstone.se or http://www.percstandard.eu/
Copperstone is changing reporting standard from Fennoscandian Review Board (FRB) to the Pan-European Reserves and Resources Reporting Committee (PERC) “PERC Reporting Standard 2017”. The PERC Reporting Standard is an international reporting standard that has been adopted by the mining associations in Sweden (SveMin), Finland (FinnMin) and Norway (Norsk Bergindustri), to be used for exploration and mining companies within the Nordic counties. The PERC standard has more clearly defined requirements on reporting and on Competent Persons. The change to PERC-standard is a process that will require a transition period. The current report is done as far as possible is accordance with the PERC-standard, but does not claim to be fully compliant.
Regarding Copperstone Granliden and Svartliden Mineral Resources please refer to Copperstone Press Release December 20, 2018 and the ”Micon Copperstone Memo Report” attached therein.
The mineral resources quoted regarding the awarded exploitation concessions Eva (applied for in 2007) and Tvistbogruvan, are per definition historical, made before the introduction of today’s disclosure standards. The company does therefore not consider the resources as current. Certain additional work, such as twin holes, check assays and QAQC documentation are considered necessary in order to potentially convert these assets to code-compliant, in accordance with to today’s disclosure requirements. The company aims, before any mining is planned to take place, to verify the relevance and reliability of the previously reported estimates. In the case of Eva, “…based on 55 diamond core drill holes that have been drilled in a 50×50 meter pattern, which has been the basis for the calculation to define this flat lying sulphide mineralization”, as indicated by our predecessors by the time of the exploitation concession application. In the case of Tvistbo, based on some 38 drillholes. The Company has not decided upon entering an environmental permit process for either deposit, it will instead explore the Copperstone Project Area further in order to optimize the usage of the natural resources and limit the side effects of any potential mine. For more information, please refer to Copperstone Annual Report 2017 (in Swedish page 13 Tvistbogruvan and page 17 Eva) at the Company’s website.
JORC 2012
Regarding the Viscaria Mineral Resources statement please refer to https://www.sunstonemetals.com.au/mineral-resources
JORC 2012 is the current version of the disclosure standard of the Joint Ore Reserves Committee, mandatory for all companies listed on the Australian Stock Exchange, the ASX.
For further information, please contact CEO Michael Mattsson, +46 705 739 777, michael.mattsson@copperstone.se, info@copperstone.se or visit the Copperstone website at
www.copperstone.se
This information was submitted for publication, through the above contact person’s agency, 12:15 CEST on March 21, 2019.
About Copperstone
Copperstone is a public company trading as COPP B on NASDAQ First North (Stockholm). The Certified Adviser is Augment Partners AB, info@augment.se, +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.
Qualified Person
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.
Forward-looking Statement
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.
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