Capstone Reports Additional High Grade Copper-Gold Results From Minto East
Hole 10SWC669 intercepts 5.1% Cu & 2.2g/t Au over 12.6m
Hole 10SWC674 intercepts 3.7% Cu & 1.6g/t Au over 18.6m
VANCOUVER, Sept. 28 /CNW/ - Capstone Mining Corp. (CS: TSX) today announced assay results for the remaining seventeen drill holes completed at Minto East as part of the infill drill program that was designed to increase the mineral resource classification to a level suitable for inclusion in the Phase V pre-feasibility study, which study is currently in process. Minto East is a high grade copper-gold discovery made in late 2009 and these most recent drill intercepts infill areas of the high grade core and on the margins of the deposit in order to provide the confidence required to support underground mine planning. Highlights of assays from these recent drill holes are summarized in the table below and the full results for the seventeen holes released today are provided in the attached table.
Highlights of Recent Drilling at Minto East
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Target From To Interval Interval Copper Gold Silver
Hole ID Area (m) (m) (m)* (ft)* (%) (g/t) (g/t)
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10SWC-641 Minto East 308.0 320.5 12.5 41.0 3.49 1.35 13.6
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Including 308.0 311.8 3.8 12.5 5.17 1.52 12.6
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And 314.8 320.4 5.6 18.4 4.06 1.85 20.6
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10SWC-669 Minto East 312.3 324.9 12.6 41.3 5.07 2.22 14.5
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Including 314.0 323.0 9.0 29.5 5.96 2.59 16.7
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10SWC-674 Minto East 284.9 303.5 18.6 61.0 3.65 1.56 8.0
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including 298.5 303.5 5.0 16.4 5.75 2.39 14.5
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* Based upon the current 3D interpretation of the Minto East deposit
the intervals quoted here are at or near true thickness.
"Minto East has rapidly advanced from a geophysical target, to a drill discovery, through an initial round of drilling and mineral resource estimation, and in filled to standards suitable for reserve estimation, all in less than a year," said Stephen Quin, President of Capstone. "With drilling now complete, an updated mineral resource estimate will be completed and utilized in the Phase V pre-feasibility study for the Minto Mine."
These drill results, along with those previously released, indicate that the Minto East deposit is an approximately ellipsoid lens with best grades and thicknesses in the centre, and which thins and drops off in grade towards the edges. The thick, high grade intercepts reported above are from the core of the deposit, while the narrower, lower grade intercepts in the table attached are from the margins of the deposit.
A new resource model for Minto East should be completed in October. The drill rig used at Minto East has moved to Wildfire in order to advance that new discovery to a preliminary mineral resource before year-end.
For current drillhole locations please view the accompanying map:
http://www.capstonemining.com/i/photos/minto/2010_42_CS_CurrentDrillHoleLocations.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. and Brad Mercer, P. Geo., VP Exploration of Capstone. The exploration activities at the Minto mine are carried out under the supervision of Brad Mercer, P. Geo., 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 IPL-Inspectorate of Richmond.
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 Minto East Drill Results
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To accompany Capstone Mining News Release Dated September 28, 2010
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Hole ID & Target From To Interval Interval Copper Gold Silver
Interval (m) (m) (m)* (feet)* (%) (g/t) (g/t)
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10SWC-633 Minto East 309.0 315.4 6.4 21.0 1.25 0.72 4.8
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including 313.0 315.4 2.4 7.9 1.97 1.27 8.7
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and 321.2 328.1 6.9 22.6 1.35 0.71 6.8
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10SWC-634 Minto East 315.6 317.3 1.7 5.6 1.58 0.53 5.2
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and 322.9 323.3 0.4 1.3 2.86 0.94 10.1
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10SWC-636 Minto East 206.1 210.0 3.9 12.8 3.28 1.12 10.5
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and 313.6 319.7 6.1 20.0 0.56 0.41 5.3
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10SWC-637 Minto East 292.1 300.9 8.8 28.9 1.91 1.32 11.4
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and 292.1 295.6 3.5 11.5 3.73 1.55 16.9
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10SWC-638 Minto East 283.9 285.4 1.5 4.9 2.07 1.05 11.5
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10SWC-641 Minto East 308.0 320.5 12.5 41.0 3.49 1.35 13.6
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including 308.0 311.8 3.8 12.5 5.17 1.52 12.6
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and 314.8 320.4 5.6 18.4 4.06 1.85 20.6
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10SWC-643 Minto East 280.8 297.6 16.8 55.1 1.87 0.69 3.7
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including 286.5 297.6 11.1 36.4 2.53 0.93 4.9
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10SWC-646 Minto East 295.8 305.8 10.0 32.8 1.60 0.67 6.6
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including 301.8 304.8 3.0 9.8 2.22 0.81 9.0
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10SWC-649 Minto East 202.5 205.8 3.3 10.8 0.60 0.09 1.8
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10SWC-651 Minto East 279.9 285.8 5.9 19.4 2.18 1.28 10.7
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10SWC-654 Minto East Hole Abandoned
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10SWC-656 Minto East 248.5 253.0 4.5 14.8 0.66 0.27 4.9
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10SWC-659 Minto East 270.0 273.4 3.4 11.2 2.32 0.99 8.9
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10SWC-663 Minto East 235.3 239.8 4.5 14.8 0.46 0.04 1.5
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10SWC-666 Minto East 234.0 258.2 24.2 79.4 0.54 0.08 1.8
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Including 247.5 258.2 10.7 35.1 0.68 0.11 2.4
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10SWC-669 Minto East 312.3 324.9 12.6 41.3 5.07 2.22 14.5
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Including 314.0 323.0 9.0 29.5 5.96 2.59 16.7
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10SWC-674 Minto East 284.9 303.5 18.6 61.0 3.65 1.56 8.0
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including 298.5 303.5 5.0 16.4 5.75 2.39 14.5
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* Based upon the current 3D interpretation of the Minto East deposit
the intervals quoted here are at or near true thickness.
For further information: about Capstone, please contact: Darren Pylot, Vice Chairman & CEO, Stephen Quin, President; Or Investor Relations' Zobeida Slogan at (604) 684-8894 or (866) 684-8894; Or e-mail Capstone at [email protected]
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