Drilling at Columbus Copper's Karapinar Porphyry Project Intersects 59.9 m of 0.55% Cu within the 600 x 250 m Secondary Copper/Skarn 'Corridor'
27.03.2013 | Marketwired
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/27/13 -- Columbus Copper Corporation ("Columbus Copper") (TSX VENTURE: CCU) (formerly Empire Mining) is pleased to report that drill-hole KDH-024 from its ongoing diamond drilling program at its 100% owned Karapinar copper-molybdenum project in Turkey, has returned 59.9 metres of 0.55% copper and 0.06 grams per tonne ("g/t") gold from 219.1 metres depth including 35.4 metres from 220.1 metres grading 0.67% copper and 0.09 g/t gold and 9.4 metres from 235.1 metres grading 1.27% copper and 0.14 g/t gold.First Quantum Minerals Ltd., has been granted an option to earn an initial 51% interest in Karapinar and is funding the work program.
Eight drill-holes have been completed for a total of 2,628.6 metres in the current campaign. The ninth hole, KDH-026 is in progress. Results have been received for the first seven holes and all, except for drill-hole KDH022, returned significant intercepts within porphyry or skarn mineralization, confirming interpretations from the 2011 IP geophysical survey and the 2012 mapping campaign.
In 2011, Columbus Copper completed an IP survey at Karapinar that outlined a chargeability anomaly of 800 metres x 800 metres in the eastern part of the porphyry system where drill-hole KDH018 intersected a 60 metre zone of chalcocite enrichment grading 0.93% copper, 0.11 g/t gold and 0.017% molybdenum from a hole depth of 79.6 to 139.6 metres (see news releases of August 23rd and November 1st, 2011). The current drilling campaign set out to confirm that the IP reflects copper mineralization. The recently reported drill-hole, KDH021, collared to test an IP anomaly 500 metres north-east of drill-hole KDH018, intersected a chalcocite enriched interval of 21 metres grading 1.05% copper between 135.0 and 183.0 metres in endoskarn and drill-hole KDH024 tested another IP anomaly 300 metres south-west of drill-hole KDH021 and intersected 59.9 metres of mineralized skarn breccia. Drill-holes KDH021 and KDH024 demonstrate the presence of and approximately 600 metres x 250 metres coherent zone of secondary copper/skarn mineralization, adjacent to the porphyry stock that corresponds with the IP chargeability anomalies. Maps with collar locations over plans of IP chargeability and ground magnetics are available at the following link: www.columbuscopper.com/i/nr/2013-03-27-maps.pdf
The current drilling program, developed jointly with First Quantum Minerals Ltd., set out to test the potential of the system much beyond the area of the existing porphyry deposit drilled in previous campaigns. The program therefore requires widely spaced step-out holes intended to test the potential margins and outer boundaries of the mineralized system. This includes holes collared on results from re-interpreted geochemical data and Short-wave Infrared ("SWIR") and Near Infrared ("NIR") spectral analysis performed on drill core samples to investigate alteration trends in the system. This study, therefore, recommends that deeper holes within the system are required in order to identify the potential higher grade resource. A schematic of an idealized alteration model of a porphyry system with the zone believed to be the location of the majority of drilling at Karapinar is available at the following link.
href="http://www.columbuscopper.com/i/nr/2013-03-27-schematic.pdf
A second set of drill-holes in the current program is targeting the sulfide mineralization where past drilling has demonstrated an increase in primary copper at depth, as exemplified by drill-hole KDH007 terminated at 380.5 metres in 0.55% copper and drill-hole KDH001 at 347.20 metres in 0.44% copper respectively. Drill-hole KDH026 currently in progress, collared 130 metres north north-east of drill-hole KDH001 at the marble to porphyry contact, intersected a 100 metre thick zone of skarn mineralization with several secondary copper enriched intervals followed by primary copper and molybdenum mineralization to the current depth of 420 metres. Assays for this drill-hole are pending.
Assay results for drill-holes KDH019 to KDH024 have been received to date.
Below is a summary of significant intercepts:
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Tot. Depth From To Intercept Cu Mo Au
Hole No. (m) m) (m) (m) (%) (%) (g/t)
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KDH019 327.00 106.40 114.73 8.33 0.37 0.0043 0.07
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160.70 167.00 6.30 0.53 0.0075 0.09
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KDH020 102.00 5.00 35.75 30.75 0.34 0.0072 NS
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including 5.00 13.10 8.10 0.53 0.0159 0.10
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including 21.20 34.50 13.30 0.41 0.0060 NS
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KDH020a 424.30 2.50 10.50 8.00 0.64 0.0098 0.16
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31.80 36.10 4.30 0.30 0.0196 NS
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KDH021 247.00 48.00 80.50 32.50 0.38 0.0122 0.07
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135.00 183.00 21.00(i) 1.05 0.0023 NS
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including 137.60 145.50 7.90 1.61 0.0032 0.05
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including 172.50 183.00 10.50 0.87 0.0021 NS
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KDH023 336.40 0.00 140.00 140.00 0.30 0.0011 0.11
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including 5.20 27.00 21.80 0.56 0.0003 0.22
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152.50 157.80 5.30 0.58 0.0038 0.13
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199.50 206.40 6.90 0.45 0.0046 0.08
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224.40 243.50 19.10 0.30 0.0070 0.07
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270.00 282.50 12.50 0.50 0.0090 0.08
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KDH024 607.20 66.00 75.60 9.60 0.34 0.0083 0.10
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including 66.00 71.00 5.00 0.54 0.0091 0.16
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219.10 279.00 59.90 0.55 0.0021 0.06
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including 220.10 255.50 35.40 0.67 0.0023 0.09
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including 235.10 244.50 9.40 1.27 0.0029 0.14
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including 267 274 7.00 0.85 0.0015 0.03
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(i) interval is intersected by a post-mineral dyke between 145.5m and 172.5m
NS - no significant grade
The endoskarn lithology at Karapinar was not identified on a large scale prior to the current drilling program, but has now been intersected in all drill-holes, particularly in the north-eastern part of the project area. The intent of the current drill program is to test the size and scope of the entire mineralized system, commencing with the eastern extremities that also coincide with the main IP responses. The IP anomalies can be attributed to skarn and secondary copper mineralization, although the wide spacing of the drill-holes bracket the main 800 metre by 800 metre chargeability anomaly, which still requires infill drilling.
After completing drill-hole KDH026, the drilling focus will shift to the area north and north-west of the previously drilled cluster, where mapping has identified continuation of potassic alteration, with quartz-magnetite-chalcopyrite veins in an outcrop. A deep geophysical survey is intended to aid the generation of deep primary copper targets that reflect the recent re-interpretation of geochemical data and the SWIR and NIR spectral study on drill core samples.
The airborne magnetics and radiometrics survey that was temporarily suspended due to adverse weather conditions late in 2012 is expected to resume in April/May 2013.
Quality Assurance/Quality Control
All drill-core was sawn in half with sample widths determined by geology and mineralization. Individual samples within visible mineralization did not exceed 1.0 metre, while the maximum sample interval was 3.0 metres in intervals of post-mineral dykes. Samples were bagged, security tagged and sent to the ALS Chemex sample preparation facility in Izmir, Turkey and, following preparation, to the ALS Chemex laboratory in Vancouver BC. For all drill-holes to KDH022 inclusive, gold was determined by fire assay with AA finish, ore grade repeats were run with ICP-AES and a total of 33 elements determined by ICP after four-acid digestion. Starting with KDH023, the ICP multi-element suite was changed to ICP-MS after four acid digestion, determining 48 elements, while gold was determined by fire assay with AA finish as before. The change is driven by the indicated rhenium potential, will apply to all future Karapinar drill-core samples and will allow to further evaluate potential for elements that have not been assayed for so far.
Blank, replicate and Certified Reference Material QAQC samples were distributed regularly in the assayed batches and their total numbers are presented in Table 1.
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Total Number of Number of Number of Total Number of
Assayed Samples Standards Duplicates QAQC Samples
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3052 155 120 275
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Table 1: Number of samples and QA/QC samples from Karapinar project
In addition, ALS Chemex performed internal check assaying on about 5% of the samples, and also included analyses of internal standards inserted into the sample string.
Columbus Copper's Qualified Person, David C. Cliff, BSc (Hons), MIMMM, C Eng., FGS, also Columbus Copper's President & CEO, has reviewed and approved the content of this news release.
ON BEHALF OF THE BOARD
David Cliff
President & CEO
This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting Columbus Copper's exploration plans. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation that plans may change as results are obtained; the ability to acquire necessary permits and other authorizations; environmental compliance; cost increases; availability of qualified workers; competition for mining properties; risks associated with exploration projects, mineral reserve and resource estimates (including the risk of assumption and methodology errors); dependence on third parties for services; non-performance by contractual counterparties; title risks; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about; drilling plans based on present knowledge and expectations; general business and economic conditions; the timing and receipt of required approvals; availability of financing; power prices; ability to procure equipment and supplies; and ongoing relations with employees, partners and joint venturers. The foregoing list is not exhaustive. Although Columbus Copper has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Columbus Copper undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Columbus Copper Corp.
Investor Relations
604-634-0970 or 1-888-818-1364
604-634-0971 (FAX)
info@columbusgroup.com
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