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Anglo Canadian Uranium Corp. Announces Princeton Copper Soil Sampling Program Initiated
Anglo Canadian Uranium Corp. Announces Princeton Copper Soil Sampling Program Initiated
About this update from Canada One Mining Corp
[{"type":"text","content":"\nAnglo Canadian Uranium Corp. Announces Princeton Copper Soil Sampling Program Initiated\n\n\n Jul. 28, 2010 (TheNewswire.ca) -- Anglo Canadian Uranium Corp. (TSX-V: URA)(the \"Company\") is pleased to announce it has initiated a soil sampling program at its Princeton Copper Project. This Project is located less than 1 km from the Copper Mountain Project, which is expected to commence full production in June 2011. This grid sampling program will focus on areas north and west of previous sampling which demonstrated a copper anomaly extending to the northwest. This zone of intrusive rocks has also demonstrated increased magnetic intensity. The majority of areas to be tested lie closest to the Copper Mountain proposed super pit. Copper Mountain has recently signed debt financing agreements for $322 million to continue the development and construction of the proposed mine to produce 105 million pounds of copper per year by June 2011.A map detailing the previous exploration work, proposed exploration work and proximity to the Copper Mountain mine can be viewed on the Company web site at: www.anglocanex.com.The Company completed its Phase One exploration (TSXV:OE'R) program in 2009 and announced results on March 4th, 2010. Encouraging results from this initial exploration program have assisted in defining the additional exploration areas. In addition, the Company has identified two drill targets at locations which will not require timber cutting, road work and have minimal environmental impact. These proposed drill locations are in areas of extensive copper showings and trenching.This work program will be under the supervision of Warner Gruenwald, P. Geo.Copper Mountain History and New DevelopmentsThe Copper Mountain district has a lengthy history of exploration beginning in the 1890's. Production commenced in 1923, and has been suspended and restarted as new ore bodies were discovered in the area. Initial production was initiated by Granby Consolidated Mining, Smelting and Power Company with 31.5 million tonnes of ore grading 1.08% Copper extracted from underground excavations from 1925 to 1930, and from 1937 to 1957. Additional exploration commenced in 1966 by Newmont Mining Corporation (NYSE:NEM) of Canada, with production commencing in 1972 from the Ingerbelle deposit. The entire deposit was sold again in 1988 to Cassiar Mining C...