Capstone Reports Expanded Copper-Gold Zones at Wildfire / Copper Keel, Minto
Mine
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, Oct. 4 /CNW/ - 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)* (ft)* (%) (g/t) (g/t)
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10SWC-645* 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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(*) 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:
http://www.capstonemining.com/i/photos/minto/2010-43_CS_WildfireCopper%20KeelDrilling.jpg
For a current view of drill results in priority areas across the property please view the accompanying map:
http://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)(*) (feet)(*) (%) (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* 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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(*) 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 (604) 684-8894 or (866) 684-8894 or e-mail Capstone at [email protected]
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