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: COS17353 Dip:                  -70 deg Azimuth:    020 deg Length:        1166.20 m Size:         NQ / BQ  
Intercept       Au     Ag         Cu           Zn
       from        (m)         to            (m)       (g/t)          (g/t)          (%)           (%)
           
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: COS17354 Dip:                  -70 deg Azimuth:    200 deg Length:        572.00 m Size:         NQ  
Intercept        Au            Ag      Cu             Zn
        from        (m)             to             (m)            (g/t)                 (g/t)            (%)             (%)
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
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: COS17355 Dip:                  -85 deg Azimuth:    200 deg Length:        872.55 m Size:         NQ  
Intercept         Au           Ag         Cu            Zn
       from        (m)             to             (m)           (g/t)            (g/t)            (%)           (%)
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
684,00 685,00 0,05 10,6 0,26 0,03
685,00 686,00 0,09 10,9 0,27 0,01

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

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