AQM Copper Drills 400 Metres of 0.45 % Cu and 0.17 g/t Au on the Zafranal Main Zone, and 57 Metres of 1.12 % Cu on the Sicera Sur Satellite Deposit
19.10.2011 | Marketwire
VANCOUVER, 10/19/11 - AQM Copper Inc. (TSX VENTURE: AQM) (BVLAC: AQM) ('AQM Copper' or the 'Company') is pleased to announce results from the ongoing drilling program at the Zafranal Joint Venture Property. Today, the Company announces results from its drilling campaign at the Main Zone, Sicera Sur and Sicera Norte targets.Zafranal Main Zone
The Company announces results from twenty-three diamond drill holes, all from the Main Zone and the Rechazada Zone. These holes were aimed at extending the Main Zone resource at depth and laterally, as well as testing the limits of the new Rechazada zone. Significant results are summarized on Table 1:
----------------------------------------------------------------------------
From To Interval
Drill Hole (m.) (m.) (m.) Cu%T Au g/t Comment
----------------------------------------------------------------------------
ZFDDH11-180 68 170 102 0.69% 0.10 Deep Hole
--------------------------------------------------------
Incl. 102 130 28 1.11% 0.13
--------------------------------------------------------
And 176 204 28 0.44% 0.02
--------------------------------------------------------
And 277 396 119 0.27% 0.05
--------------------------------------------------------
And 404 412 8 0.36% 0.05
--------------------------------------------------------
And 466 480 14 0.33% 0.04
----------------------------------------------------------------------------
ZFDDH11-181 92 226 134 0.56% 0.11 Deep Hole
--------------------------------------------------------
Incl. 136 154 18 1.12% 0.11
--------------------------------------------------------
And 278 283.40 5.40 0.48% 0.44
--------------------------------------------------------
And 349.75 524 174.25 0.27% 0.07
--------------------------------------------------------
Incl. 349.75 385 35.25 0.25% 0.05
--------------------------------------------------------
Incl. 391 407 16 0.29% 0.06
--------------------------------------------------------
Incl. 413 471 58 0.31% 0.06
--------------------------------------------------------
Incl. 480 524 44 0.30% 0.10
--------------------------------------------------------
And 694 706 12 0.85% 0.24
--------------------------------------------------------
And 714 725.80 11.80 0.25% 0.07
----------------------------------------------------------------------------
ZFDDH11-184 No Significant Results Main Zone North
----------------------------------------------------------------------------
ZFDDH11-185 88 300 212 0.26% 0.06 Deep Hole
--------------------------------------------------------
Incl. 88 124 36 0.68% 0.10
--------------------------------------------------------
Incl. 142 168 26 0.23% 0.08
--------------------------------------------------------
Incl. 224 248 24 0.22% 0.05
--------------------------------------------------------
Incl. 270 300 30 0.21% 0.06
----------------------------------------------------------------------------
ZFDDH11-186 33.20 98 64.80 0.37% 0.02 Main Zone South
----------------------------------------------------------------------------
ZFDDH11-188 No Significant Results Geophysical Target
----------------------------------------------------------------------------
ZFDDH11-189 98.35 494 395.65 0.39% 0.06 Deep Hole
--------------------------------------------------------
Incl. 98.35 396.80 298.45 0.44% 0.07
--------------------------------------------------------
Incl. 98.35 142 43.65 1.06% 0.08
--------------------------------------------------------
And 427.5 494 66.50 0.25% 0.04
----------------------------------------------------------------------------
ZFDDH11-191 4 404 400 0.45% 0.17 Deep Hole
--------------------------------------------------------
Incl. 24 46 22 0.49% 0.17
--------------------------------------------------------
Incl. 60 140 80 0.82% 0.26
--------------------------------------------------------
Incl. 70 113.30 43.30 1.23% 0.32
--------------------------------------------------------
And 156 202 46 0.25% 0.11
--------------------------------------------------------
And 208 404 196 0.44% 0.15
----------------------------------------------------------------------------
ZFDDH11-193 46 110 64 0.29% 0.05 Deep Hole
--------------------------------------------------------
And 151.65 330 178.35 0.31% 0.08
--------------------------------------------------------
And 348 388 40 0.21% 0.08
--------------------------------------------------------
And 516 636.20 120.20 0.28% 0.23
--------------------------------------------------------
Incl. 516 556 40 0.38% 0.57
--------------------------------------------------------
Incl. 566 600 34 0.29% 0.08
--------------------------------------------------------
Incl. 610 636.20 26.20 0.25% 0.06
----------------------------------------------------------------------------
ZFDDH11-195 28 41.15 13.15 0.27% 0.11 Deep Hole
--------------------------------------------------------
And 83 139.2 56.20 0.50% 0.41
--------------------------------------------------------
And 156.70 383.70 227 0.51% 0.16
--------------------------------------------------------
And 410 425 15 0.60% 0.16
----------------------------------------------------------------------------
ZFDDH11-196 No Significant Results Main Zone North
----------------------------------------------------------------------------
ZFDDH11-197 No Significant Results Main Zone South
----------------------------------------------------------------------------
ZFDDH11-198 52.80 210 157.20 0.48% 0.13 Deep Hole
--------------------------------------------------------
Incl. 115 150 35 0.92% 0.11
--------------------------------------------------------
And 224 396 172 0.29% 0.10
----------------------------------------------------------------------------
ZFDDH11-199 0 54 54 0.67% 0.21 Deep Hole
--------------------------------------------------------
And 66 96 30 0.28% 0.14
--------------------------------------------------------
And 124 282.05 158.05 0.40% 0.07
----------------------------------------------------------------------------
ZFDDH11-201 42 62 20 0.31% 0.04 Main Zone South
--------------------------------------------------------
And 72 82 10 0.34% 0.03
----------------------------------------------------------------------------
ZFDDH11-202 46 80 34 0.27% 0.13 La Rechazada
--------------------------------------------------------
And 148 202 54 0.22% 0.11
--------------------------------------------------------
And 294 328 34 0.22% 0.09
--------------------------------------------------------
And 364 390 26 0.21% 0.05
----------------------------------------------------------------------------
ZFDDH11-204 0 42 42 0.33% 0.21 Main Zone South
--------------------------------------------------------
And 124.35 134 9.65 0.32% 0.02
----------------------------------------------------------------------------
ZFDDH11-205 78 108 30 1.57% 0.07 Main Zone South
----------------------------------------------------------------------------
ZFDDH11-206 30.4 72.50 42.10 0.41% 0.05 Deep Hole
--------------------------------------------------------
And 88.45 102 13.55 0.23% 0.05
--------------------------------------------------------
And 116 172 56 0.31% 0.10
--------------------------------------------------------
And 259.75 348 88.25 0.33% 0.09
--------------------------------------------------------
And 360 374 14 0.22% 0.04
--------------------------------------------------------
And 390 430 40 0.24% 0.08
----------------------------------------------------------------------------
Table 1: Significant Results from the Zafranal Main Zone
0.2% Cu cut-off and 6m. maximum internal dilution except where shown in
italics
All of the deep holes extended the known lower limit of the hypogene mineralization, up to 310 metres in the case of drill hole ZFDDH11-181.
Drill holes ZFDDH11-184, ZFDDH11-186, ZFDDH11-196, ZFDDH11-197, ZFDDH11-201, ZFDDH11-204 and ZFDDH11-205 were aimed at testing the southern and northern limits of the Main Zone resource area. One of these drill holes (ZFDDH11-186) intercepted significant supergene mineralization that leaves the Main Zone open to the south. Drill hole ZFDDH11-186 was drilled on section 794900E, 70 metres south of previously reported drill hole ZFDDH11-107 (104 metres @ 0.38% Cu).
Drill hole ZFDDH11-202 was drilled on the La Rechazada discovery, located approximately 900 metres west of the Main Zone. The hole was collared 100 metres southeast of previously reported drill hole ZFDDH11-169 (102.7 metres @ 0.30% Cu). Results show that copper-gold mineralization continues to the southeast and remains open in that direction.
Sicera Sur
The Company also wishes to announce further positive results from the Sicera Sur satellite target, where step-out reverse circulation and diamond drilling has continued to expand the mineralized target beyond the area originally targeted as prospective, and currently extends up to 400 metres by 600 metres. Significantly, drill hole SSRC11-030 encountered a thick supergene enrichment blanket, suggesting that a higher-grade area exists within Sicera Sur. Significant results are summarized in Table 3.
----------------------------------------------------------------------------
Interval
Hole No. From (m) To (m) (m) Cu%
----------------------------------------------------------------------------
SSRC11-022 No Significant Results
----------------------------------------------------------------------------
SSRC11-023 No Significant Results
----------------------------------------------------------------------------
SSRC11-024 No Significant Results
----------------------------------------------------------------------------
SSRC11-025 44 56 12 0.25%
----------------------------------------------------------------------------
And 88 94 6 0.29%
----------------------------------------------------------------------------
SSRC11-026 72 193 121 0.33%
----------------------------------------------------------------------------
Incl. 72 161 89 0.32%
----------------------------------------------------------------------------
And 169 193 24 0.46%
----------------------------------------------------------------------------
SSRC11-027 54 67 23 0.22%
----------------------------------------------------------------------------
And 113 124 11 0.23%
----------------------------------------------------------------------------
And 134 148 14 0.25%
----------------------------------------------------------------------------
SSRC11-028 46 58 12 0.23%
----------------------------------------------------------------------------
And 66 72 6 0.64%
----------------------------------------------------------------------------
And 104 114 10 0.23%
----------------------------------------------------------------------------
And 127 180 53 0.22%
----------------------------------------------------------------------------
SSRC11-029 No Significant Results
----------------------------------------------------------------------------
SSRC11-030 30 87 57 1.12%
----------------------------------------------------------------------------
Incl. 46 87 41 1.46%
----------------------------------------------------------------------------
SSRC11-031 22 28 6 0.35%
----------------------------------------------------------------------------
SSRC11-032 10 36 20 0.30%
----------------------------------------------------------------------------
And 71 83 12 0.24%
----------------------------------------------------------------------------
SSRC11-033 42 48 6 0.33%
----------------------------------------------------------------------------
SSRC11-034 10 199 189 0.23%
----------------------------------------------------------------------------
Incl. 10 75 65 0.27%
----------------------------------------------------------------------------
And 93 141 48 0.23%
----------------------------------------------------------------------------
And 147 199 52 0.26%
----------------------------------------------------------------------------
SSRC11-035 52 58 6 0.40%
----------------------------------------------------------------------------
And 64 124 60 0.33%
----------------------------------------------------------------------------
SSRC11-036 77 101 24 0.24%
----------------------------------------------------------------------------
And 173 180 7 1.54%
----------------------------------------------------------------------------
SSRC11-037 158 168 10 0.21%
----------------------------------------------------------------------------
SSRC11-038 28 76 48 0.39%
----------------------------------------------------------------------------
And 220 230 10 0.34%
----------------------------------------------------------------------------
And 251 270 19 0.22%
----------------------------------------------------------------------------
And 317 350(1) 33 0.29%
----------------------------------------------------------------------------
SSRC11-039 220 228 8 0.54%
----------------------------------------------------------------------------
SSDDH11-001 0 36 36 0.42%
----------------------------------------------------------------------------
SSDDH11-002 164 196 32 0.34%
----------------------------------------------------------------------------
And 222 268 46 0.32%
----------------------------------------------------------------------------
And 353.85 500 146.15 0.33%
----------------------------------------------------------------------------
Incl. 353.85 438 84.15 0.35%
----------------------------------------------------------------------------
And 458 500 42 0.36%
----------------------------------------------------------------------------
SSDDH11-003 320.4 358 37.6 0.27%
----------------------------------------------------------------------------
Table 2: Significant Results from Sicera Sur
(1) Hole ended in mineralization
0.2% Cu cut-off and 6m. maximum internal dilution except where shown in
italics
Drill holes SSRC11-034, SSRC11-035 and SSRC11-036 were drilled 80 metres south, 130 metres west and 150 metres southwest of drill hole SSRC11-033 respectively, and represent the first significant copper intercept on the south side of Sicera Sur, where a second porphyry body is interpreted to occur. This new zone remains open to the south and west. Drill hole SSRC11-030 was drilled 160 metres south of previously reported drill hole SSRC11-021 (127 metres @ 0.32% Cu) and represents the highest grade intercept encountered in Sicera Sur to date.
Drill holes SSRC11-022, SSRC-023 and SSRC-024 were drilled on the southern part of Sicera Sur, where the occurrence of 'live' hematite suggested the presence of a supergene chalcocite blanket. Although small amounts of chalcocite were observed in the RC chips, the results indicate that this area does not host a significant copper target.
Drill holes SSRC11-025, SSRC11-027, SSRC11-028 and SSRC11-029 were all step-out holes drilled to the north and northeast of the original discovery holes in Sicera Sur. Drill holes SSRC11-026 and SSRC11-038 were step-outs to the west and shows that the zone thickens and remains open in that direction. Drill hole SSRC11-031 was drilled 50 metres east of drill hole SSRC11-010 (no significant results), encountering unmineralized Yura Group limestone units. Drill holes SSRC11-032 and SSRC11-033 were drilled 70 and 140 metres south of drill hole SSRC11-030 respectively. Drill hole SSRC11-037 was drilled 110 metres northwest of previously reported drill hole SSRC11-015 (44 metres @ 0.24% Cu) and encountered weak mineralization.
Drill hole SSDDH11-001, collared 90 metres south of drill hole SSRC11-021 (127 metres @ 0.32% Cu), was lost due to drilling difficulties and was re-drilled as SSDDH11-003 two metres to the south. Drill hole SSDDH11-002 was aimed at testing the deep mineralization encountered in drill holes SSRC11-018 and SSRC11-020, and confirmed the presence of a thick zone of hypogene copper mineralization at depth.
Sicera Norte
On Sicera Norte, the Company recently completed 5 reverse circulation drill holes on peripheral exploration areas. None of the holes intercepted significant copper mineralization. Drill holes SNRC11-011, SNRC11-012, SNRC11-013, SNRC11-014 and SNRC11-015 were collared on areas with phyllic alteration up to 1 kilometre away from the main mineralized body at Sicera Norte.
Drilling in Sicera Norte has now been completed and the Company announces results from the last four diamond drill holes completed there. Results are summarized on the table below:
----------------------------------------------------------------------------
Interval
Hole No. From (m) To (m) (m) Cu%
----------------------------------------------------------------------------
SNDDH11-044 30 105 75 0.29%
----------------------------------------------------------------------------
And 231 252 21 0.23%
----------------------------------------------------------------------------
And 272.6 299.7 27.1 0.23%
----------------------------------------------------------------------------
And 310 345 35 0.24%
----------------------------------------------------------------------------
And 363 375 12 0.32%
----------------------------------------------------------------------------
SNDDH11-045 327.05 374 46.95 0.23%
----------------------------------------------------------------------------
And 402 477.3 75.3 0.23%
----------------------------------------------------------------------------
SNDDH11-046 No Significant Results
----------------------------------------------------------------------------
SNDDH11-047 144 178 34 0.24%
----------------------------------------------------------------------------
And 311 340.4 29.4 0.25%
----------------------------------------------------------------------------
Table 3: Significant Results from Sicera Norte
0.2% Cu cut-off and 6m. maximum internal dilution
Drill hole SNDDH11-044 was drilled 60 metres northeast of drill hole SNDDH11-022 (24.7 metres @ 0.54% Cu). Drill hole SNDDH11-047 was drilled northwards from the same pad as drill hole SNDDH11-025 (42 metres @ 0.29% Cu). Drill hole SNDDH11-045 was drilled vertically from the same pad as drill hole SNDDH11-036 (195 metres @ 0.33% Cu) to test a deep zone of hypogene copper mineralization. Drill hole SNDDH11-046 was drilled 175 metres northeast of drill hole SNDDH11-045 and was aimed at testing the northeastern limits of the mineralization at Sicera Norte.
On behalf of the joint venture, AQM has now completed 18,181 metres of drilling between the Main Zone and Victoria, 16,667 metres of drilling on Sicera Norte, and 10,029 metres of drilling on Sicera Sur. The Company currently has 5 diamond rigs turning on the Zafranal Property. Four diamond rigs are currently drilling on the Victoria discovery and one diamond rig is drilling on the La Rechazada discovery west of the Main Zone.
Updated drill plans for Sicera Sur, Sicera Norte and the Main Zone are available at www.aqmcopper.com.
The Company has established a rigorous QA/QC program at Zafranal, which includes the insertion of blanks, duplicates and certified standards into the sample stream. Core is photographed on site and subsequently sawed in half, with one half sent for analysis and the other half stored for future reference and assay verification. RC chips are split twice on site using a riffle splitter, with 25% of the sample being sent to the laboratory for assay and the rest stored for future verification purposes. All Zafranal samples are shipped to ALS Chemex's sample preparation facility in the city of Arequipa, where they are crushed and pulverized. Prepared samples are shipped to ALS Chemex's certified laboratory in Lima where they are analyzed for gold, copper and multi-element ICP.
Alvaro Fernandez-Baca, P.Geo, Vice President Exploration for AQM Copper Inc. and the Company's Qualified Person for the purposes of NI 43-101, has approved the information contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Bruce Turner
President and CEO
ABOUT AQM Copper:
AQM Copper Inc. (formerly Apoquindo Minerals) is a Canadian based mineral exploration company developing copper deposits in South America. Through its wholly owned Peruvian subsidiary, Minera AQM Peru SAC, the Company is developing the Zafranal Copper-Gold Porphyry Project located in Southern Peru. Minera AQM Peru SAC is the operator of a 50/50 JV with Teck Resources Limited through a sole purpose Peruvian company formed for Zafranal as announced in its press release on July 8, 2010. The Zafranal project has NI43-101 compliant measured and indicated resources of 301 million tonnes grading 0.47% copper and 0.08 grams per tonne gold, and an inferred resource of 51 million tonnes grading 0.32% copper and 0.06 grams per tonne gold. Management and directors have extensive experience working for the world's largest mining Copper producers. Please refer to the Company's website for further information regarding the Company and its projects.
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:
To speak with an Investor Relations representative:
Pinnacle Capital Markets LTD.
Spyros P. Karellas
(416) 800-8921
Spyros@pinnaclecapitalmarkets.ca
Pinnacle Capital Markets LTD.
Stephen Goodfellow
(416) 900-3719
stephen@pinnaclecapitalmarkets.ca
www.pinnaclecapitalmarkets.ca