Copperstone Resources (Copperstone or the Company) has received and evaluated the assay results from the Svartliden (SV) drill campaign (4 drill holes) from the summer of 2016. Together with historic data from earlier drilling campaigns this supports the hypothesis presented in the press release of October 24, 2016, that mineralization in the Svartliden and adjacent concessions may be part of a large scale Au-Cu porphyry-style system and that Svartliden-Eva may be part of a single underlying system.
In total there is approximately 8,675m of core drilling at Svartliden, including 1137m (6 drill holes) drilled by Copperstone in 2015-2016. This dataset is currently under review by the team based in Malå to map out phreatomagmatic breccia bodies, define various alteration zones and also interpret the nature of sulphide development. Weighted average laboratory data presented at the Copperstone website (www.copperstone.se) forms part of a larger 56 drill hole dataset around the Svartliden property.
At this stage, results show significant grades of Au-Ag-Cu-Zn mineralization in a number of intercepts ranging from subsurface to approximately 200m depth; above 2,7 % Cueq at the best intercept 1,7 m (older results close by show over 3 % Cueq over 2,5 m, results are summarised in table 1). At present there is no indication of true width of the mineralization and the system remains open with depth. Preliminary results from alteration mapping have identified both advanced argillic and propyllitic styles, suggesting that there is potentially a single larger system below the Svartliden-Eva area (approx. 1.5 km2). Silicified and partly mineralized breccia appears to form the eroded roots of a larger phreatomagmatic system that is necking down towards the inferred stock at depth.
In particular COS16352 has drilled through a root zone of the diatreme system containing a large xenolithic block of altered sidewall geology that is significantly mineralized from 239,6-241,3m (see appendix). Depth to predicted mineralization within the perceived porphyry system remains unknown but an encouraging increase in gold grades suggests better mineralization will be located with the deeper drill holes planned for the winter of 2017.
The alteration mapping programme being carried out in Malå is being supported by a ground magnetic survey to verify the various historic airborne and ground anomalies. In addition new mineralogical work is under way to assist with full identification of alteration minerals, and thus classify the various alteration styles around the system.
The assay has been carried out by the accredited laboratory ALS Global using ME-MS61 complemented by CU-OG62 and Zn_OG62 for grades over 1% Cu and Zn respectively, gold has been analysed using Fire Assay method Au-AA23. Certified standards has been inserted among the samples to ensure quality of assay.
“We are very excited over what we are seeing at this point. It could potentially result in a world class asset that would change the outlook for Copperstone and for Sweden as a mining nation. We look forward result of the international team and to the final 3D-model and the plan for further core drilling” says Copperstone CEO Per Storm in a comment
Table Summary of intercepts from drill holes of the SV area, 2015-2016 drill holes are highlighted.
|Drillhole Name||From (m)||To (m)||Intercept (m)||Au (g/t)||Ag (g/t)||Cu (%)||Zn (%)||Cueq (%)*|
* Copper equivalents has been calculated using prices first published in the press release 2016-04-18
For further information, please refer to Copperstone Resources webpage : www.copperstone.se, or contact Per Storm, CEO Copperstone Resources AB, 0705–94 90 24, e-mail: email@example.com.
Copperstone Resources AB (publ) is an 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 thirteen exploration tenements covering c:a 11 360 hectare and two mining concession and one applied concession covering a total of 82 hectare.
G&W Fondkommission is the Certified Adviser for Copperstone Resources AB.
Appendix best section from COS 16352