Kiruna June 25, 2020
Copperstone Resources AB (publ) (“Copperstone” or “the Company”) today, announces the final results from its first phase drilling campaign at the Viscaria project in Kiruna. The total drill campaign covered almost 8,000 meters out of the planned 22,000 meters pre-mine drillings, and today’s announcement comprise of four holes in the area called D zone (North). The results demonstrate significant intersections of copper in ironstone inside as well as outside the mineral resource boundary. The Company will now commence work on mineral resource inventory upgrade and scale-up of its project plans.
“These very convincing results encourage us to continue our drilling campaigns in the Viscaria project with a planned re-opening of the mine in sight. The D-zone is increasing by every drill hole, and the Viscaria Copper project is hence growing steadily. With these indications of high-grade copper, our ambition is to further upgrade the already large mineral resource. As a consequence of the growing project and increased mineralized drill core information, we will need to put further investments and time into the technical part of the environmental permit application, and in parallel I am looking forward to strengthening the organization further.”, comments CEO Michael Mattsson.
Prior to the 7,945 diamond drill meters conducted by Copperstone, the Viscaria project already contained 52 mton with 1.2 percent copper, according to the JORC 2012 code, or approx. 609,000 tons of copper of measured, indicated and inferred classes (see www.copperstone.se / Projects / Viscaria Copper Project). The copper grade corresponds to twice the global average and more than four times the copper grade of the largest copper mine in Europe.
Copperstone hereby announces that the assay results of VDD0212, VDD0213, VDD0214 and VDD0215 have been received from ALS laboratories; compiled by Copperstone, verified by the QP.
Highlights from lab tests:
- In VDD0212 intersected 35.4 meters at 0.7% copper from a depth* of 462.8 meters. It included 18.9 meters at 1.3% copper from a depth of 468.1 meters.
- In VDD0213 intersected 56.8 meters at 0.9% copper from a depth of 591.2 meters, including 14 meters at 2.3% copper from a depth of 612 meters. It included 7.1 meters at 3.8% copper from a depth 615.2 meters, incl. 4.6 meters at 5.3% copper, incl. 0.6 meters at 20.1% copper.
- In VDD0214 intersected 4.6 meters at 1.4% copper from a depth of 751.4 meters.
- In VDD0215 intersected 48.1 meters at 0.5% copper from a depth of 660.9 meters. It included 9.3 meters at 1.0% copper from a depth of 689.5 meters.
*Depths refer to down hole depths. All intercepts are reported as “along the hole”, no calculation of true widths have been made.
Very few, if anyone, can today predict the true scope and future size of the D-zone and its extensions and the blue sky potential is considered to be most significant. Especially VDD0213 and VDD0215 indicate that a new mineralized shoot may hereby have been discovered, origin unknown.
Please revert to press releases announced October 18, 2019, November 1, 2019, February 7, 2020, and March 23, 2020 for additional information regarding Copperstone phase 1 8,000 meter drill campaign at Viscaria.
This press release contains insider information which Copperstone Resources AB (publ) is obliged to publish according to the EU market abuse regulation (MAR). For further information, please contact Michael Mattsson (CEO) at +46(0)580-88890, or firstname.lastname@example.org or refer to Copperstone webpage: www.copperstone.se.
Please see the attached pdf for complete information.
The information was delivered by the above-mentioned contact for publishing June 25, 2020 at 07.45 CET.
Copperstone is a public company trading as COPP B on Nasdaq First North Growth Market in Stockholm, Sweden. The Certified Adviser is Augment Partners AB, email@example.com, +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 in the Bergslagen mining region, in central Sweden.
The technical information herein has been reviewed by the Qualified Person of the Company (QP) Thomas Lindholm M. Sc., GeoVista AB, Luleå.
Forward looking statements
The information in this press release may contain forward-looking statements, which relate to future events or future performance and reflect Copperstone’s current expectations and assumptions. Such forward-looking statements reflect Copperstone’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.
Please note drill intercepts are quoted as drilled and are not corrected for true thickness as the shape of the orebodies is not yet known.