Capstone Reports Expanded Copper-Gold Zones at Wildfire / Copper Keel, Minto Mine
By Capstone Mining Corp., PRNESunday, October 3, 2010
Hole 10SWC647 Intercepts 1.9% Cu & 0.9g/t Au Over 12.2m in Wildfire; 10SWC645 Intercepts 3.3% Cu & 1.2g/t Au Over 5.3m in Copper Keel
VANCOUVER, October 4, 2010 - Capstone Mining Corp. (CS: TSX) today announced assay results for twelve
new holes from the Wildfire and Copper Keel horizons at the Minto Mine.
Drilling results appear to be defining a thicker, shallower zone of copper
mineralization (Wildfire) while, at the same time, extending deeper Copper
Keel mineralization south and east, under the Wildfire zone. While moderate
in grade, Capstone believes that Wildfire may be amenable to open pit mining,
while the narrower Copper Keel mineralization may have potential for
extraction by underground mining methods given its proximity to the proposed
Area 2 underground mining area. Highlights from the most recent holes drilled
at Wildfire / Copper Keel are summarized in the table below.
Highlights of Recent Drilling at Wildfire
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Int- Int-
Hole ID Target From To erval erval Copper Gold Silver
(m) (m) (m)(x) (ft)(x) (%) (g/t) (g/t)
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10SWC-645(x) Copper 189.5 198.7 9.2 30.2 2.01 0.71 7.1
Keel (8.7) (28.5)
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including 192.9 198.7 5.8 19.0 2.37 0.87 8.9
(5.5) (18.0)
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and 250.6 255.9 5.3 17.4 3.34 1.23 11.9
(5.0) (16.4)
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10SWC-647 Wildfire 90.2 110.6 20.4 63.6 1.39 0.65 5.4
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including 90.2 102.4 12.2 40.0 1.90 0.93 7.5
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((x)) Estimated true thickness in parentheses
"The presence of multiple stacked mineralized copper-gold zones in the
Wildfire area is encouraging," said Stephen Quin, President of Capstone.
"Drilling is continuing with the objective of defining mineral resources at
Wildfire and Copper Keel by year-end that are potentially extractable by open
pitable and/or underground methods. Any such resources defined could be
addressed in a supplement to the Phase V pre-feasibility study that is
currently underway," he added. As currently planned, the Phase V
pre-feasibility study will incorporate mineral resources from Area 2, Minto
North, Minto East and Ridgetop, with both surface and underground operations
contemplated to be providing mill feed in parallel.
Wildfire / Copper Keel - Minto Mine
Additional drill roads over the Wildfire - Copper Keel area are now being
constructed in order to facilitate the systematic evaluation of the Wildfire
discovery and the underlying Copper Keel horizons, which have now been traced
beneath the relatively shallow Wildfire mineralization. The two mineralized
trends are stacked on top of each other, with the best grades at Copper Keel
trending NNW-SSE, while those at Wildfire trend NNE-SSW. To date in 2010,
Capstone has drilled 63 holes in the Copper Keel - Wildfire - Airstrip
corridor. Prior to 2010, 40 holes were completed in this area.
A key objective for late 2010 is the production of a geological model and
grade block model that ties all of the areas known mineralized areas south of
the Minto Main pit together on multiple levels. This will not only facilitate
estimation of mineral resources, but assist future exploration as mineralized
trends are defined and gaps in drilling within certain mineralized horizons
are identified.
Drill hole Location Maps
For an inset view of drill results at Wildfire and Copper Keel please
view the accompanying map:
www.capstonemining.com/i/photos/minto/2010-43_CS_WildfireCopper
KeelDrilling.jpg
For a current view of drill results in priority areas across the property
please view the accompanying map:
www.capstonemining.com/i/photos/minto/2010-43_CSMintoProperty.jpg
Quality Assurance
The technical information in this news release has been prepared in
accordance with Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed by Stephen P. Quin, P. Geo., President of
Capstone Mining Corp. The exploration activities at the Minto Mine are
carried out under the supervision of Brad Mercer, P. Geol., VP Exploration of
Capstone.
The analytical method for the copper and silver analyses is aqua regia
digestion of the samples followed by atomic absorption spectroscopy. Gold is
analysed by fire assay fusion with atomic absorption spectroscopy finish for
gold. Analyses are carried out by ALS CHEMEX in North Vancouver. When visible
gold is noted in drill core samples or regular fire assay values appear
abnormally high, the pulp and screen metallic assay method is used to
determine the total gold content and gold contents of different size
fractions. This is considered industry best practice when dealing with coarse
gold mineralization where a nugget effect is suspected. This determination is
accepted as the most representative value and is used in the assay database
for mineral resource calculations. Blank and standard samples are used for
quality assurance and quality control. Where more than two check samples
assay outside expected ranges, the entire batch is re-assayed. After the
completion of planned drill programs at Minto, random check assays will be
carried out by Inspectorate-IPL of Vancouver.
Forward-Looking Statements
This document may contain "forward-looking information" within the
meaning of Canadian securities legislation and "forward-looking statements"
within the meaning of the United States Private Securities Litigation Reform
Act of 1995 (collectively, "forward-looking statements"). These
forward-looking statements are made as of the date of this document and
Capstone Mining Corp. (the "Company") does not intend, and does not assume
any obligation, to update these forward-looking statements.
Forward-looking statements relate to future events or future performance
and reflect Company management's expectations or beliefs regarding future
events and include, but are not limited to, statements with respect to the
estimation of mineral reserves and mineral resources, the realization of
mineral reserve estimates, the timing and amount of estimated future
production, costs of production, capital expenditures, success of mining
operations, environmental risks, unanticipated reclamation expenses, title
disputes or claims and limitations on insurance coverage. In certain cases,
forward-looking statements can be identified by the use of words such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or
statements that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology. By their very nature forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Such
factors include, among others, risks related to actual results of current
exploration activities; changes in project parameters as plans continue to be
refined; future prices of mineral resources; possible variations in ore
reserves, grade or recovery rates; accidents, labour disputes and other risks
of the mining industry; delays in obtaining governmental approvals or
financing or in the completion of development or construction activities; as
well as those factors detailed from time to time in the Company's interim and
annual financial statements and management's discussion and analysis of those
statements, all of which are filed and available for review on SEDAR at
www.sedar.com. Although the Company 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 as 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.
Accordingly, readers should not place undue reliance on forward-looking
statements.
Details of Wildfire and Copper Keel Drill Results
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To accompany Capstone Mining News Release Dated October 4, 2010
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Hole ID & Target From To Interval Interval Copper Gold Silver
Interval (m) (m) (m)((x)) (feet)((x)) (%) (g/t) (g/t)
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10SWC-644 Copper 222.7 226.0 3.3 10.8 1.38 0.32 4.5
Keel
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10SWC- Copper 189.5 198.7 9.2 30.2 2.01 0.71 7.1
645(x) Keel (8.7) (28.5)
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including 192.9 198.7 5.8 19.0 2.37 0.87 8.9
(5.5) (18.0)
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and Copper 202.7 209.5 6.8 22.3 0.61 0.12 1.6
Keel (6.4) (21.0)
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and Copper 250.6 255.9 5.3 17.4 3.34 1.23 11.9
Keel (5.0) (16.4)
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and Copper 276.7 282.5 5.8 19.0 1.06 0.23 2.3
Keel (5.5) (18.0)
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10SWC-647 Wild- 90.2 110.6 20.4 63.6 1.39 0.65 5.4
fire
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including 90.2 102.4 12.2 40.0 1.90 0.93 7.5
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and Copper 176.6 184.2 7.6 24.9 1.02 0.35 2.7
Keel
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10SWC-648 Wild- 113.2 119.9 6.7 22.0 1.20 0.44 3.9
fire
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and Copper 205.4 210.5 5.1 16.7 0.98 0.51 8.5
Keel
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10SWC-650 Wild- Geochemically Anomalous - No Significant Intersections
fire/
Copper
Keel
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10SWC-652 Wild- 90.6 100.0 9.4 30.8 0.67 0.09 1.1
fire
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including 90.6 93.5 2.9 9.5 1.26 0.20 2.1
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and Copper 136.5 141.2 4.7 15.4 1.16 0.29 2.4
Keel
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10SWC-653 Wild- Assays Pending
fire/
Copper
Keel
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10SWC-655 Wild- Assays Pending
fire/
Copper
Keel
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10SWC-657 Wild- 121.6 124.9 3.3 10.8 1.75 0.70 5.2
fire
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and Wild- 138.5 151.1 12.6 41.3 0.59 0.07 1.4
fire
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including 138.5 146.0 7.5 24.6 0.68 0.09 1.7
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10SWC-658 Wild- 156.5 168.5 12.0 39.4 0.45 0.02 0.6
fire
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including 158.0 161.0 3.0 9.8 0.78 0.03 1.0
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and Copper 187.1 189.8 2.7 8.9 0.73 0.01 0.8
Keel
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and Copper 240.0 245.3 5.3 17.4 2.54 1.11 8.7
Keel
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10SWC-660 Wild- Assays Pending
fire/
Copper
Keel
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10SWC-661 Copper 219.9 241.7 21.8 71.5 1.38 0.39 4.4
Keel
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including 236.9 241.7 4.8 15.7 1.95 0.74 7.9
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10SWC-662 Wild- 144.2 151.7 7.5 24.6 0.34 0.02 0.5
fire
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including 144.2 147.2 3.0 9.8 0.53 0.03 0.7
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10SWC-664 Wild- Assays Pending
fire/
Copper
Keel
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10SWC-665 Wild- 86.1 105.3 19.2 63.0 0.99 0.45 3.2
fire
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including 86.1 88.8 2.7 8.9 3.65 2.18 14.8
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and Wild- 95.5 99.7 4.2 13.8 1.45 0.33 3.7
fire
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and Wild- 119.7 126.8 7.1 23.3 0.68 0.31 2.4
fire
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and Wild- 131.3 135.4 4.1 13.5 0.73 0.12 1.8
fire
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10SWC-667 Wild- 90.8 92.5 1.7 5.6 0.97 0.87 1.4
fire
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and Wild- 113.0 131.4 18.4 60.4 0.48 0.18 1.5
fire
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including 124.6 131.4 6.8 22.3 0.79 0.22 2.6
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and Copper 173.3 180.4 7.1 23.3 0.46 0.15 0.9
Keel
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and Copper 216.6 223.6 7.0 23.0 0.42 0.04 1.0
Keel
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((x)) Estimated true thickness in parentheses
For further information: about Capstone, please contact: Darren Pylot,
Vice Chairman & CEO, Stephen Quin, President; Or Investor Relations' Zobeida
Slogan at +1(604)684-8894 or +1(866)684-8894 or e-mail Capstone at
info@capstonemining.com
For further information: about Capstone, please contact: Darren Pylot, Vice Chairman & CEO, Stephen Quin, President; Or Investor Relations' Zobeida Slogan at +1(604)684-8894 or +1(866)684-8894 or e-mail Capstone at info at capstonemining.com
Tags: canada, Capstone Mining Corp, October 4, Vancouver
