Capstone Reports Additional High Grade Copper-Gold Intercepts from the Copper Keel Deposit at the Minto Mine
VANCOUVER, May 2 /CNW/ --
Hole 10SWC770 intercepts 4.6% Cu & 3.6g/t Au over 6.1m including 5.4% Cu & 3.4g/t Au over 3.7m
Hole 10SWC777 intercepts 3.2% Cu & 1.8g/t Au over 8.2m including 4.5% Cu
& 2.0g/t Au over 4.0m
VANCOUVER, May 2 /CNW/ - Capstone Mining Corp. (TSX: CS) announced assay
results today for the first nineteen drill holes from the Copper Keel
deposit completed this winter at the Minto Mine in the Yukon.
Highlights from the first phase of the 2011 exploration holes are
summarized in the table below, with complete results attached.
'The first phase of the 2011 program expanded the extents of the Copper
Keel deposit and demonstrate that it is continuous to contiguous with
the deeper levels of the Area 2/118 deposit, located to the northwest
of Copper Keel and south of the Minto Main Pit,' said Brad Mercer,
Vice-President of Exploration for Capstone. 'A new resource model,
which is nearing completion, is expected to integrate the
Wildfire/Copper Keel deposit into a larger framework that will combine
the Area 2/118 and the Wildfire/Copper Keel deposits into one resource
model. This will facilitate a more seamless approach for optimizing the
development of a group of spatially and genetically related deposits in
a tandem approach of open pit and underground mining where open pit
pre-stripping of waste has already begun.
Highlights of Recent Drilling at Copper Keel
_____________________________________________________________________
| Hole ID |Target|From | To |Interval |Interval |Copper |Gold |Silver|
| | Area | (m) | (m) | (m) | (ft) | (%) |(g/t)|(g/t) |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|11SWC-762|Copper|265.3|279.6| 14.3 | 46.9 | 2.10 |0.58 | 7.0 |
| | Keel | | | | | | | |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|including| |269.3|274.0| 4.7 | 15.4 | 4.74 |1.16 | 15.4 |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|11SWC-765|Copper|268.1|289.0| 20.9 | 68.6 | 2.00 |0.66 | 6.1 |
| | Keel | | | | | | | |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|including| |271.8|276.8| 5.0 | 16.4 | 3.12 |0.90 | 9.1 |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|11SWC-770|Copper|327.5|333.6| 6.1 | 20.0 | 4.57 |3.60 | 27.8 |
| | Keel | | | | | | | |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|including| |327.5|331.2| 3.7 | 12.1 | 5.41 |3.43 | 29.8 |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|11SWC-777|Copper|350.0|358.2| 8.2 | 26.9 | 3.20 |1.75 | 14.5 |
| | Keel | | | | | | | |
|_________|______|_____|_____|_________|_________|_______|_____|______|
|including| |350.0|354.0| 4.0 | 13.1 | 4.49 |2.01 | 20.6 |
|_________|______|_____|_____|_________|_________|_______|_____|______|
Work on an initial resource estimate for the combined Wildfire/Copper
Keel copper-gold deposit is nearing completion and is expected to be
ready before the end of the second quarter of 2011. An updated resource
estimate will also be prepared once the second phase of the 2011 drill
campaign is completed, sometime in late summer.
2011 Exploration Plans at Minto
Drilling operations that are now paused for spring freshet are
anticipated to resume in mid to late May once ground conditions have
dried out at Copper Keel (which is still open to the east, northeast
and northwest) and at Inferno, a new prospect discovered late last
year. There are 15,960 metres of drilling remaining in the 2011 program
out of a total program of 33,750 metres, which is expected to take
seven to nine weeks to complete once drilling resumes. Construction of
drill pads at Inferno, located a few hundred metres northeast of the
Main Pit and mill, has begun.
Further drill results will be released over the coming months once they
have been received and checked. Assay data for 25 holes drilled in the
Copper Keel region are still outstanding.
Mineral resources that are not mineral reserves do not have demonstrated
economic viability. Mineral resource estimates do not account for
mineability, selectivity, mining loss and dilution. There is also no
certainty that mineral resources will be converted to mineral reserves
through further drilling and once economic considerations are applied.
Drill Hole Location Maps
For current drillhole locations please view the accompanying map:
http://capstonemining.com/i/maps/2011-13CSCurrentDrillHoleLocations.jpg
For a current view of drill results in the Wildfire/Copper Keel area
please view the accompanying map:
http://capstonemining.com/i/maps/2011-13MintoDrillResultsUpdate.jpg
To see a recent panoramic view of the Area 2 open pit please view the
accompanying photo:
http://capstonemining.com/i/maps/2011-13Area2PrestripPanoramicView.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 Standards of Disclosure for Mineral Projects of the
Canadian Securities Administrators ('NI 43-101') and reviewed by Brad
Mercer, P. Geol., VP, Exploration of Capstone, a ('Qualified Person')
as defined in National Instrument 43-101.
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 Information
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, except as required under applicable
securities legislation.
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 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 2011 Wildfire/Copper Keel First Phase Drill Results
To accompany Capstone Mining News Release Dated May 2, 2011
_____________________________________________________________________
| Hole ID |Target|From | To |Interval|Interval|Copper |Gold |Silver |
| & | | (m) | (m) | | | (%) |(g/t)| (g/t) |
|Interval | | | | (m) | (feet) | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-759|Copper|255.0|277.9| 22.9 | 75.1 | 0.88 |0.22 | 1.9 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |256.0|264.4| 8.4 | 27.6 | 1.72 |0.39 | 2.8 |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |256.0|261.7| 5.7 | 18.7 | 1.99 |0.41 | 3.3 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-760|Copper|121.7|124.6| 2.9 | 9.5 | 1.62 |0.21 | 0.6 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| and | |258.9|272.2| 13.3 | 43.6 | 1.81 |0.43 | 4.4 |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |262.6|267.3| 4.7 | 15.4 | 2.85 |0.49 | 5.1 |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |262.6|264.6| 2.0 | 6.6 | 3.76 |0.60 | 6.4 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-761|Copper|254.6|274.6| 20.0 | 65.6 | 1.20 |0.46 | 5.3 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |259.8|264.6| 4.8 | 15.7 | 2.30 |0.67 | 7.7 |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |259.8|262.2| 2.4 | 7.9 | 3.45 |0.84 | 8.9 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-762|Copper|265.3|279.6| 14.3 | 46.9 | 2.10 |0.58 | 7.0 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |269.3|274.0| 4.7 | 15.4 | 4.74 |1.16 | 15.4 |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |269.3|272.1| 2.8 | 9.2 | 6.50 |1.51 | 21.3 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-763|Copper|267.1|282.4| 14.3 | 46.9 | 1.31 |0.36 | 2.9 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |268.1|273.3| 5.2 | 17.1 | 1.88 |0.50 | 3.8 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-764|Copper|231.4|242.4| 11.0 | 36.1 | 1.13 |0.27 | 3.1 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-765|Copper|268.1|289.0| 20.9 | 68.6 | 2.00 |0.66 | 6.1 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |271.8|276.8| 5.0 | 16.4 | 3.12 |0.90 | 9.1 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-766|Copper|266.1|275.0| 8.9 | 29.2 | 1.62 |0.48 | 5.5 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-767|Copper|285.5|287.7| 2.2 | 7.2 | 0.53 |0.09 | 3.0 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| and | |305.7|312.0| 6.3 | 20.7 | 0.43 |0.10 | 1.4 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-768|Copper|252.4|263.4| 11.0 | 36.1 | 0.66 |0.16 | 1.2 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| and | |285.0|286.5| 1.5 | 4.9 | 0.99 |0.47 | 3.6 |
|_________|______|_____|_____|________|________|_______|_____|________|
| and | |295.9|302.0| 6.1 | 20.0 | 1.16 |0.65 | 8.5 |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |297.3|302.0| 4.7 | 15.4 | 1.33 |0.79 | 10.7 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-769|Copper|277.0|289.9| 12.9 | 42.3 | 1.23 |0.37 | 3.6 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |279.0|287.0| 8.0 | 26.2 | 1.75 |0.50 | 4.7 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-770|Copper|275.8|280.6| 4.8 | 15.7 | 1.29 |0.31 | 2.3 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| and | |327.5|333.6| 6.1 | 20.0 | 4.57 |3.60 | 27.8 |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |327.5|331.2| 3.7 | 12.1 | 5.41 |3.43 | 29.8 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-771|Copper|252.8|265.2| 12.4 | 40.7 | 1.45 |0.34 | 2.4 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-772|Copper|302.7|313.6| 10.9 | 35.8 | 1.24 |0.83 | 7.5 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |310.9|313.6| 2.7 | 8.9 | 1.90 |1.85 | 16.4 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-773|Copper|255.4|265.8| 10.4 | 34.1 | 1.04 |0.26 | 1.7 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |255.4|260.0| 4.6 | 15.1 | 1.43 |0.34 | 1.8 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-774|Copper|298.4|301.3| 2.9 | 9.5 | 0.62 |0.25 | 2.0 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| and | |345.7|349.3| 3.6 | 11.8 | 1.23 |0.70 | 7.0 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-776|Copper|343.0|349.0| 6.0 | 19.7 | 1.12 |0.44 | 11.9 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-777|Copper|309.9|314.2| 4.3 | 14.1 | 0.84 |0.37 | 1.9 |
| | Keel | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
| and | |350.0|358.2| 8.2 | 26.9 | 3.20 |1.75 | 14.5 |
|_________|______|_____|_____|________|________|_______|_____|________|
|including| |350.0|354.0| 4.0 | 13.1 | 4.49 |2.01 | 20.6 |
|_________|______|_____|_____|________|________|_______|_____|________|
| | | | | | | | | |
|_________|______|_____|_____|________|________|_______|_____|________|
|11SWC-778|Copper| Geochemically Anomalous - No Significant |
| | Keel | Intersections |
|_________|______|____________________________________________________|
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/May2011/02/c8254.html
Capstone Mining Corp.
Cindy Burnett, VP, Investor Relations
Telephone: 604-637-8157
Email: cburnett@capstonemining.com
Website: www.capstonemining.com