Capstone Reports Final Copper-Gold Results From 2009 Minto Exploration
Program
Hole 09SWC591 intercepts 1.9% Cu & 0.8g/t Au over 12.2m (including 2.8% Cu & 1.2g/t Au over 5.6m) at Minto East
Final Minto Drill Results for 2009
------------------------------------------------------------------------- Hole ID Target From To Interval Interval Copper Gold Silver Area (m) (m) (m) (ft) (%) (g/t) (g/t) ------------------------------------------------------------------------- Ridge- 09SWC-566 top 80.6 84.7 4.1 13.5 4.14 1.71 20.3 ------------------------------------------------------------------------- Minto 09SWC-589 NW 246.5 247.9 1.4 4.6 5.14 1.27 17.2 ------------------------------------------------------------------------- Area 2 09SWC-548 South 17.0 23.2 6.2 20.3 2.77 0.06 2.8 ------------------------------------------------------------------------- including 18.0 23.2 5.2 17.1 3.18 0.07 3.1 ------------------------------------------------------------------------- Minto 09SWC-591 East 310.0 322.2 12.2 40.0 1.92 0.79 4.6 ------------------------------------------------------------------------- including 311.5 317.1 5.6 18.4 2.77 1.22 5.9 ------------------------------------------------------------------------- Ridge- 09SWC-567 top 90.3 93.6 3.3 10.8 2.51 1.18 11.7 ------------------------------------------------------------------------- Ridge- 09SWC-553 top 57.1 61.9 4.8 15.7 2.23 0.07 5.9 ------------------------------------------------------------------------- Ridge- 09SWC-570 top 68.8 80.5 11.7 38.4 1.26 0.65 6.0 ------------------------------------------------------------------------- including 75.3 80.5 5.2 17.1 2.50 1.40 13.0 -------------------------------------------------------------------------
"These drill results wrap up a very successful 2009 exploration program at the Minto Mine," said
Ridgetop and Area 2 Infill Drilling
On
The largest effort expended on this initiative was at Ridgetop, where 40 new holes were drilled on the perimeter of the mineral resources and in some gaps within the model, where the mineralization is relatively shallow. A new area of shallow mineralization was discovered on the southwest flank of the previous mineral resource model and some relatively higher grade areas were noted locally, within the original mineral resource area. Re-estimation of the mineral resources for these deposits, incorporating the new drill results, is in progress and is expected to be completed in Q1, 2010.
Five holes were also drilled near the southwest corner of Area 2, where it transitions into Area 118; only modest gains were made here and are not likely to have a significant impact on the overall mineral resource for the Area 2/118 deposit.
Minto East Drilling
Two holes reported herein are from Minto East; 09SWC-591 (see table above) which intersected high grade mineralization similar to the discovery holes and has extended the strike length of the high grade mineralization at Minto East to 85 metres, and it is still open. Down hole geophysics (DCIP) was completed in hole 09SWC-584, the results of which suggests the Minto East deposit has the best potential to the south and then to the north of the holes completed to date. The second hole in this area reported herein, 09SWC-583 was drilled before the Minto East discovery hole and is more than 90m east of and perpendicular to the trend identified in the discovery and follow-up holes and, while it does contain two intervals of copper mineralization, it is unclear how they relate to the Minto East prospect.
Other Drilling
Eleven other holes reported herein were drilled on a variety of chargeability anomalies from Pole-Dipole Induced Potential and Titan-24 Direct Current Induced Potential surveys. Most of these holes intersected anomalous copper mineralization and locally higher grade mineralization over narrow intervals, but did not adequately explain the anomalies, some of which are comparable in size and tenor to those over the Minto North and Minto East discoveries. Follow-up down-hole geophysics suggests these chargeability targets may be offset from the limited coverage of the surface IP surveys. This issue will be addressed by a more extensive Titan 24 DCIP survey in 2010, in order to support more refined targeting for further exploration drilling in mid-2010.
For current drill hole locations, please view the accompanying map: http://www.capstonemining.com/i/photos/minto/2009-40MintoProperty.jpg
For a current view of drill results in priority areas please view the accompanying map: http://www.capstonemining.com/i/photos/minto/2009-40MintoDrillResultsUpdate.jpg
The TSX does not accept any responsibility for the adequacy or accuracy of this press release.
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 & COO for Capstone Mining Corporation. The exploration activities at the Minto project site are carried out under the supervision of
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
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
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", "outlook", "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 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 under the Company's profile 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. The Company provides 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 North (only) Drill Results ------------------------------------------- To accompany Capstone Mining News Release Dated December 21, 2009 ------------------------------------------------------------------------- Hole ID Target From To Interval Interval Copper Gold Silver & Interval (m) (m) (m)* (feet)* (%) (g/t) (g/t) ------------------------------------------------------------------------- 09SWC-510 Anomaly C Geochemically Anomalous - No Significant Assays ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC- 533(*) Anomaly C Geochemically Anomalous - No Significant Assays ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC- 534(*) Anomaly B Geochemically Anomalous - No Significant Assays ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-535 Anomaly D Geochemically Anomalous - No Significant Assays ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-536 Minto North 66.2 68.5 2.3 7.5 0.38 0.06 2.5 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-537 Ridge- top SW 30.4 58.0 27.6 90.6 0.42 0.11 1.6 ------------------------------------------------------------------------- including 42.9 55.0 12.1 39.7 0.70 0.22 2.6 ------------------------------------------------------------------------- and 44.5 47.5 3.0 9.8 1.05 0.27 2.5 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-538 Area 2 South 34.6 36.8 2.2 7.2 0.60 0.05 1.4 ------------------------------------------------------------------------- and 136.1 139.1 3.0 9.8 0.73 0.15 2.0 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-539 Ridgetop 0.0 10.0 10.0 32.8 1.23 0.06 3.5 ------------------------------------------------------------------------- and 19.8 35.9 16.1 52.8 0.53 0.09 1.7 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-540 Ridgetop 0.0 6.2 6.2 20.3 1.15 0.13 3.3 ------------------------------------------------------------------------- and 18.3 37.8 19.5 64.0 0.60 0.08 1.4 ------------------------------------------------------------------------- including 34.8 37.8 3.0 9.8 1.14 0.04 1.7 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-541 Ridgetop 153.8 167.3 13.5 44.3 0.31 0.04 1.0 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-542 Area 2 South 20.4 33.9 13.5 44.3 1.02 0.01 1.2 ------------------------------------------------------------------------- including 24.0 30.7 6.7 22.0 1.38 0.01 1.1 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-543 Ridgetop 12.0 14.4 2.4 7.9 0.92 0.26 2.2 ------------------------------------------------------------------------- and 37.7 47.7 10.0 32.8 0.30 0.02 0.7 ------------------------------------------------------------------------- and 55.8 70.0 14.2 46.6 0.28 0.05 0.5 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-544 Area 2 South Geochemically Anomalous - No Significant Assays ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-545 Ridgetop 31.7 33.6 1.9 6.2 0.53 0.04 1.4 ------------------------------------------------------------------------- and 44.2 51.7 7.5 24.6 0.36 0.08 1.1 ------------------------------------------------------------------------- and 69.5 78.3 8.8 28.9 0.65 0.28 2.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-546 Area 2 South 7.2 9.2 2.0 6.6 1.53 0.05 0.8 ------------------------------------------------------------------------- and 50.4 58.6 8.2 26.9 0.95 0.05 0.8 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-547 Ridgetop 3.0 10.7 7.7 25.3 0.29 0.04 0.5 ------------------------------------------------------------------------- and 17.3 28.2 10.9 35.8 0.27 0.04 0.7 ------------------------------------------------------------------------- and 44.5 50.5 6.0 19.7 0.54 0.12 2.7 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-548 Area 2 South 17.0 23.2 6.2 20.3 2.77 0.06 2.8 ------------------------------------------------------------------------- including 18.0 23.2 5.2 17.1 3.18 0.07 3.1 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-549 Ridgetop 15.9 21.8 5.9 19.4 0.53 0.10 1.5 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-550 Ridgetop 16.8 44.7 27.9 91.5 0.68 0.10 1.5 ------------------------------------------------------------------------- including 16.8 19.6 2.8 9.2 1.42 0.02 2.3 ------------------------------------------------------------------------- and 24.9 26.9 2.0 6.6 1.33 0.28 2.6 ------------------------------------------------------------------------- and 42.0 44.7 2.7 8.9 1.94 0.38 5.8 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-551 Ridgetop 12.9 18.4 5.5 18.0 0.77 0.05 1.6 ------------------------------------------------------------------------- including 12.9 15.6 2.7 8.9 1.30 0.09 2.6 ------------------------------------------------------------------------- and 49.3 52.0 2.7 8.9 0.88 0.06 2.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-552 Ridgetop 43.7 49.8 6.1 20.0 0.36 0.06 1.2 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-553 Ridgetop 57.1 61.9 4.8 15.7 2.23 0.07 5.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-554 Ridgetop 0.0 7.8 7.8 25.6 0.63 0.22 2.2 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-555 Ridgetop 32.3 40.8 8.5 27.9 0.47 0.02 1.3 ------------------------------------------------------------------------- and 64.1 68.5 4.4 14.4 1.85 0.00 0.8 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-556 Ridgetop 8.3 10.9 2.6 8.5 0.78 0.01 1.1 ------------------------------------------------------------------------- and 47.5 60.2 12.7 41.7 0.43 1.46 2.3 ------------------------------------------------------------------------- including 57.7 60.2 2.5 8.2 0.99 0.32 2.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-557 Ridgetop 23.0 27.2 4.2 13.8 1.78 0.04 2.3 ------------------------------------------------------------------------- and 39.1 41.0 1.9 6.2 1.10 0.07 0.7 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-558 Ridgetop 17.8 30.5 12.7 41.7 0.91 0.24 2.4 ------------------------------------------------------------------------- and 41.0 45.2 4.2 13.8 1.15 0.48 3.1 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-559 Ridgetop 7.2 20.5 13.3 43.6 0.29 0.04 0.9 ------------------------------------------------------------------------- including 13.1 15.7 2.6 8.5 0.65 0.10 1.7 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-560 Ridgetop 15.7 21.8 6.1 20.0 1.20 2.62 6.7 ------------------------------------------------------------------------- including 15.7 19.3 3.6 11.8 1.66 4.39 11.0 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-561 Ridgetop 10.0 15.7 5.7 18.7 0.51 0.08 1.6 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-562 Ridgetop 12.1 15.9 3.8 12.5 0.83 0.04 1.6 ------------------------------------------------------------------------- and 23.8 29.7 5.9 19.4 0.46 0.05 1.0 ------------------------------------------------------------------------- and 34.3 39.8 5.5 18.0 0.42 0.01 0.5 ------------------------------------------------------------------------- and 45.0 48.2 3.2 10.5 0.77 0.20 1.4 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-563 Ridgetop SW 8.0 13.7 5.7 18.7 0.75 0.17 1.9 ------------------------------------------------------------------------- and 23.0 57.8 34.8 114.2 0.46 0.12 1.6 ------------------------------------------------------------------------- including 33.5 56.3 22.8 74.8 0.59 0.17 2.0 ------------------------------------------------------------------------- and 37.7 49.3 11.6 38.1 0.78 0.23 2.8 ------------------------------------------------------------------------- including 37.7 40.7 3.0 9.8 1.23 0.31 4.4 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-564 Ridgetop 22.5 38.8 16.3 53.5 0.27 0.03 0.4 ------------------------------------------------------------------------- and 65.9 72.1 6.2 20.3 0.70 0.25 2.3 ------------------------------------------------------------------------- including 69.5 72.1 2.6 8.5 1.47 0.52 4.8 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-565 Ridgetop SW 35.9 60.9 25.0 82.0 0.48 0.15 2.2 ------------------------------------------------------------------------- including 45.4 58.0 12.6 41.3 0.74 0.26 3.4 ------------------------------------------------------------------------- and 45.4 50.5 5.1 16.7 0.98 0.31 4.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-566 Ridgetop 7.8 13.2 5.4 17.7 0.61 0.17 0.9 ------------------------------------------------------------------------- and 80.6 84.7 4.1 13.5 4.14 1.71 20.3 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-567 Ridgetop 90.3 93.6 3.3 10.8 2.51 1.18 11.7 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-568 Ridgetop SW 28.1 53.7 25.6 84.0 0.54 0.14 1.6 ------------------------------------------------------------------------- including 38.7 53.7 15.0 49.2 0.76 0.24 2.3 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-569 Ridgetop SW 41.6 63.3 21.7 71.2 0.55 0.18 2.4 ------------------------------------------------------------------------- including 45.0 51.0 6.0 19.7 1.23 0.35 5.6 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-570 Ridgetop 3.0 11.0 8.0 26.2 0.56 0.17 0.6 ------------------------------------------------------------------------- and 68.8 80.5 11.7 38.4 1.26 0.65 6.0 ------------------------------------------------------------------------- including 75.3 80.5 5.2 17.1 2.50 1.40 13.0 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-571 Ridgetop 8.5 63.6 55.1 180.8 0.36 0.09 0.8 ------------------------------------------------------------------------- including 32.1 38.0 5.9 19.4 0.81 0.11 1.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-572 Ridgetop SW 47.6 62.6 15.0 49.2 0.54 0.17 2.2 ------------------------------------------------------------------------- including 47.6 55.1 7.5 24.6 0.86 0.28 3.6 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-573 Ridgetop 2.5 22.0 19.5 64.0 0.30 0.07 0.5 ------------------------------------------------------------------------- including 2.5 5.6 3.1 10.2 0.85 0.38 2.0 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-574 Ridgetop SW 16.5 25.8 9.3 30.5 0.91 0.18 3.4 ------------------------------------------------------------------------- including 16.5 20.7 4.2 13.8 1.09 0.19 3.9 ------------------------------------------------------------------------- and 38.8 63.5 24.7 81.0 0.53 0.13 1.5 ------------------------------------------------------------------------- including 46.2 63.5 17.3 56.8 0.66 0.18 1.8 ------------------------------------------------------------------------- including 46.2 48.7 2.5 8.2 1.22 0.23 2.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-575 Ridgetop SW 21.4 66.5 45.1 148.0 0.33 0.07 0.8 ------------------------------------------------------------------------- including 21.4 29.2 7.8 25.6 0.56 0.13 1.8 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-576 Ridgetop 5.3 8.8 3.5 11.5 0.48 0.15 0.6 ------------------------------------------------------------------------- and 13.8 22.8 9.0 29.5 0.42 0.02 0.6 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-577 Ridgetop SW 15.2 57.3 42.1 138.1 0.41 0.10 1.4 ------------------------------------------------------------------------- including 15.2 21.7 6.5 21.3 0.91 0.17 3.2 ------------------------------------------------------------------------- and 42.5 47.0 4.5 14.8 0.89 0.33 2.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-578 Ridgetop 34.7 44.1 9.4 30.8 0.32 0.05 1.1 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-579 Ridgetop 6.0 14.5 8.5 27.9 0.46 0.11 1.3 ------------------------------------------------------------------------- and 48.7 62.0 13.3 43.6 0.36 0.07 0.7 ------------------------------------------------------------------------- and 75.0 79.0 4.0 13.1 0.76 0.37 4.7 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-580 Ridgetop 127.5 138.0 10.5 34.4 0.40 0.06 1.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-581 Ridgetop 46.2 65.6 19.4 63.6 0.33 0.08 1.1 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-582 Minto NE 397.7 402.3 4.6 15.1 0.83 0.27 6.8 ------------------------------------------------------------------------- and 538.8 545.2 6.4 21.0 0.51 0.24 2.6 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC- 7.4 24.3 583(*) Minto East 78.1 85.5 (7.1) (23.3) 0.48 0.02 0.7 ------------------------------------------------------------------------- 2.8 9.2 and 375.3 378.1 (2.7) (8.9) 0.40 0.09 1.3 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-584 Minto East Assays Previously Released ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC- Minto 9.0 29.5 585(*) West 202.0 211.0 (8.9) (29.2) 0.39 0.07 1.4 ------------------------------------------------------------------------- 1.7 5.6 and 260.0 261.7 (1.7) (5.6) 0.98 0.20 3.9 ------------------------------------------------------------------------- 3.5 11.5 and 273.7 277.2 (3.5) (11.5) 0.55 0.04 0.7 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-586 Minto East Assays Previously Released ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC- Minto 3.9 12.8 587(*) North 156.7 160.6 (3.9) (12.8) 0.84 0.18 3.1 ------------------------------------------------------------------------- 28.4 93.2 and 208.8 237.2 (28.2) (92.5) 0.31 0.08 1.1 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC- 3.6 11.8 588(*) Ridgetop S 3.2 6.8 (3.6) (11.8) 0.73 0.02 1.0 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-589 Minto NW 246.5 247.9 1.4 4.6 5.14 1.27 17.2 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC- 6.5 21.3 590(*) Minto NE 80.7 87.2 (6.0) (19.7) 0.87 0.67 3.7 ------------------------------------------------------------------------- 4.5 14.8 including 81.7 86.2 (4.1) (13.5) 1.17 0.96 5.1 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 09SWC-591 Minto East 310.0 322.2 12.2 40.0 1.92 0.79 4.6 ------------------------------------------------------------------------- including 311.5 317.1 5.6 18.4 2.77 1.22 5.9 ------------------------------------------------------------------------- * Estimated true thickness in parenthesis
For further information: about Capstone, please contact: Darren Pylot, Vice Chairman & CEO, Stephen Quin, President & COO Or Investor Relations' Jason Howe at (604) 684-8894 or (866) 684-8894, [email protected]
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