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Capstone Mining Steps Out Into 6.3m of 5.3% Cu: Expansion and Infill Drilling Amongst the Best Results Ever at Cozamin
VANCOUVER, British Columbia--(BUSINESS WIRE)--Capstone Mining Corp. (“Capstone” or the “Company”) (TSX:CS) announces additional high grade copper and silver res
About this update from Capstone Copper Corp.
[{"type":"text","content":"VANCOUVER, British Columbia--(BUSINESS WIRE)--Capstone Mining Corp. (“Capstone” or the “Company”) (TSX:CS) announces additional high grade copper and silver results from 21 infill and 6 step out drill holes at its Cozamin Mine, further to the update of December 2, 2019. This brings the total drilled to date to 150 holes of a 200 hole program, aiming to double the current reserve base. Drill results to date continue to demonstrate greater widths and grades than current Mineral Reserves, as well as the potential for an expanded high grade resource. Mineral Resource and Mineral Reserve estimates will be updated in late 2020. Cozamin is expected to achieve a 50% increase to annual copper and silver production of 50 to 55 million pounds and 1.5 million ounces, respectively, by 2021. “The most recent drill results are exceeding our expectations for the Mala Noche Footwall Zone (“MNFWZ”). We continue to see wide intercepts of high copper-silver grades, and now step outs to the northwest in undrilled territory are delivering some of the highest grades ever drilled at Cozamin. The two-year drilling initiative is more than two months ahead of schedule, allowing us to add more holes for a new mineral resource and mineral reserve estimate and Technical Report by the end of 2020,” said Brad Mercer, SVP Exploration and Operations. Darren Pylot, Capstone’s President and CEO said, “Our exploration team continues to push the boundaries at Cozamin. After 13 years since we started mining, we continue to surface incredible value for all stakeholders with the drill bit. These results will ensure that this mine will remain a first quartile cost, cornerstone asset well into the future. The entire Cozamin team is doing a wonderful job in setting the mine up to be bigger and higher grade in 2021 and beyond. Development work on both the underground one-way ramp and ventilation are both on budget and ahead of schedule to be completed by the end of 2020.” Figure 1 – Select High Grade Step-out and Infill Holes at Cozamin Mine Figure 2 – Long-section of the Mala Noche Footwall Zone Showing Copper % * Estimated True Width (m)The best grade*thickness intercepts lie outside of the current Mineral Reserve. Figure 3 – Long-section of the Mala Noche Footwall Zone Showing Silver g/t * Estimated True Width (m)Comparing Figure 3 to Figure 2, the strong positive corre...