Lorraine Copper Corp.: Stardust Property Exploration Results and new Resource Estimate
Vancouver, January 8, 2018 - Lorraine Copper Corp. ("Lorraine Copper") (TSX-V: LLC) is pleased to report that Sun Metals Corp., who has the Stardust Property under option, has released the results from the 2017 exploration program and resource estimate update. The Stardust property covers a large high-grade polymetallic district covering 96 square kilometres north of Fort St. James in Central British Columbia. Drilling results include 5.15 metres (m) of skarn mineralization grading 0.44% copper (Cu), 2.99% zinc (Zn), 156.6 gram per tonne (g/t) silver (Ag), and 1.36 g/t gold (Au) in drill hole LD2017-02. Drill hole LD2017-03 intersected precious metals rich vein material and returned 4.37 m grading 332.6 g/t Ag and 3.36 g/t Au, including 1.32 m of 856.0 g/t Ag and 8.00 g/t Au.
The 2017 exploration at Stardust included 45 rock samples, 744 soil samples, 28.1 line kilometres of IP and ground magnetometer survey and three diamond drill holes totaling 343.5 m. This work was undertaken to both provide confidence in historic work and also enhance the existing database that will be the platform Sun Metals will work from to launch future programs.
| 2017 Stardust Diamond Drill Intercepts | |||||||||||
| Hole ID | From | To | Length | True Width | Cu | Zn | Pb | Ag | Au | ||
| (m) | (m) | (m) | (m) | (%) | (%) | (%) | (g/t) | (g/t) | |||
| LD2017 - 01 | 94.60 | 97.00 | 2.40 | 1.56 | 0.61 | 0.07 | 0.07 | 13.6 | 0.57 | ||
| including | 95.31 | 97.00 | 1.69 | 1.10 | 0.83 | 0.01 | 0.00 | 16.6 | 0.74 | ||
| LD2017 - 02 | 82.70 | 89.92 | 7.22 | 5.88 | 0.46 | 2.14 | 0.29 | 117.7 | 1.15 | ||
| including | 82.70 | 87.85 | 5.15 | 4.22 | 0.44 | 2.99 | 0.40 | 156.6 | 1.36 | ||
| LD2017 - 03 | 89.50 | 93.87 | 4.37 | 2.12 | 0.02 | 1.12 | 0.25 | 332.6 | 3.36 | ||
| including | 89.50 | 90.82 | 1.32 | 0.71 | 0.05 | 2.08 | 0.60 | 856.0 | 8.00 | ||
An updated Mineral Resource Estimate on the Canyon Creek Skarn Zone has been completed by Qualified Professional Ronald Simpson, P.Geo. of GeoSim Services Inc. based on analytical data from 106 Drill holes completed between 1997 and 2017. The estimate includes only skarn mineralization identified in the Canyon Creek zone, and has not included drilling information from the manto, vein or porphyry zones due to a lack of information density in those areas.
Fourteen mineralized skarn zones were modeled using a minimum width of 1.5 m. Composite grades were capped at 15 g/ Au and 200 g/t Ag. Zn grades above 6% were limited to a 25m range. Block model grades were estimated by the inverse distance cubed method using dynamic anisotropy to simulate the individual zone geometries.
The indicated mineral resource is estimated to contain 985,000 tonnes grading 1.34% Cu, 0.62% Zn, 1.59 g/t Au and 36.8 g/t Ag. An additional inferred resource contains 1,985,000 tonnes averaging 1.24% Cu, 0.14% Zn, 1.72 g/t Au and 30.5 g/t Ag. The cut-off grade for the base case was 1.5% copper equivalent. Metal price assumptions for the equivalent calculation were $3.00/lb Cu, $1.25/lb Zn, $1300/oz Au and $18/oz Ag. The cut-off grade represents an in-situ metal value of approximately $100/tonne which is believed to represent a reasonable break-even cost for underground mining and processing.
The tables below illustrate the sensitivity to cut-off grade with the base case in bold face:
| INDICATED | Contained Metal | ||||||||||||
| Cut-off Cu Equiv (%) | Tonnes | % Cu | % Zn | g/t Au | g/t Ag | %Cu Eq | Cu T | Zn T | oz Au | oz Ag | |||
| 1.00 | 1,336,000 | 1.16 | 0.48 | 1.350 | 30.6 | 2.48 | 15,498 | 6,413 | 57,987 | 1,315,662 | |||
| 1.25 | 1,146,000 | 1.25 | 0.55 | 1.470 | 33.8 | 2.70 | 14,325 | 6,303 | 54,162 | 1,244,247 | |||
| 1.50 | 985,000 | 1.34 | 0.62 | 1.590 | 36.8 | 2.92 | 13,199 | 6,107 | 50,353 | 1,164,767 | |||
| 1.75 | 827,000 | 1.43 | 0.72 | 1.720 | 39.8 | 3.16 | 11,826 | 5,954 | 45,733 | 1,058,761 | |||
| 2.00 | 681,000 | 1.53 | 0.84 | 1.880 | 43.3 | 3.44 | 10,419 | 5,720 | 41,162 | 946,944 | |||
| INFERRED | Contained Metal | ||||||||||||
| Cut-off Cu Equiv (%) | Tonnes | % Cu | % Zn | g/t Au | g/t Ag | %Cu Eq | Cu T | Zn T | oz Au | oz Ag | |||
| 1.00 | 2,968,000 | 1.05 | 0.11 | 1.380 | 25.0 | 2.19 | 31,164 | 3,265 | 131,684 | 2,389,402 | |||
| 1.25 | 2,477,000 | 1.14 | 0.13 | 1.530 | 27.6 | 2.40 | 28,238 | 3,220 | 121,845 | 2,197,992 | |||
| 1.50 | 1,985,000 | 1.24 | 0.14 | 1.720 | 30.5 | 2.65 | 24,614 | 2,779 | 109,769 | 1,944,572 | |||
| 1.75 | 1,540,000 | 1.35 | 0.16 | 1.960 | 33.7 | 2.95 | 20,790 | 2,464 | 97,044 | 1,667,074 | |||
| 2.00 | 1,229,000 | 1.45 | 0.18 | 2.180 | 36.3 | 3.22 | 17,821 | 2,212 | 86,139 | 1,435,122 | |||
"The current and updated resource estimate for Stardust provides confirmation of the strong grades present in the Canyon Creek zone. This provides Sun Metals with the confidence to move forward with planning for an extensive exploration campaign" commented Steve Robertson, President of Sun Metals.
The Stardust program is being funded by Sun Metals Corp., an Oxygen Capital Corp. Company, which has the option to earn a 100% interest in the property, with Lorraine retaining an NSR and a 30% interest in Sun Metals should they complete their earn-in. Historic exploration on the property includes 390 drill holes, 5800 soil samples, 425 line-kilometres of magnetic and 390 line-kilometres of ZTEM surveys. At least six distinct mineralized zones have been discovered, including one vein, 3 mantos, a Cu-Au skarn and porphyry style mineralization. All are open for expansion.
G. L. Garratt, P.Geo., is the qualified person, as defined by NI 43-101, who has reviewed and takes responsibility for this news release.
Glen Garratt, P.Geo.
Glen Garratt, P.Geo., VP, Director
Contact : Telephone : 604-681-7913; Toll Free : 888-656-6611
About Lorraine Copper Lorraine Copper holds is a Canadian mineral exploration company that is acquiring and advancing copper, gold and molybdenum projects at intermediate to advanced stages that hold significant resources. Lorraine Copper currently owns three properties all of which have defined resources: Lorraine copper-gold (Joint Ventured with Teck Limited), OK copper-molybdenum and Lustdust (under option to 1124245BC Ltd.). For more information please visit the Company's website at www.lorrainecopper.com.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Copyright (c) 2018 TheNewswire - All rights reserved.
