Business
Copper Flat Project Update
Copper Flat Project Update.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Copper Flat Project Update\n \n \n\n \n Mercator Gold Plc\n \n \n\n \n \n \n MERCATOR GOLD plc(“Mercator Gold”, “Mercator” or “the \n Company”)\n \n \n AIM: MCRUS OTC: MTGDY\n \n \n Copper Flat Project Update\n \n \n London 21 April 2010\n \n \n Mercator Gold plc, the diversified mineral development company, is \n pleased to provide an update on the Copper Flat \n copper-gold-molybdenum-silver project (“Copper Flat”) in New Mexico, \n USA, over which Mercator’s wholly owned subsidiary New Mexico Copper \n Corporation (“NMCC”) holds an exclusive option.\n \n \n As announced on 16 March 2010, Mercator has entered into a binding heads \n of agreement for the sale of NMCC to THEMAC Resources Group Ltd \n (“THEMAC”), a company listed on the TSX Venture Exchange (ticker: MAC.H).\n \n \n As a result of the sale of NMCC Mercator will acquire a substantial \n interest in THEMAC, and will therefore retain a very significant \n interest in the Copper Flat project’s future development.\n \n \n Highlights\n \n \n - A complete set of assays has been received for the drilling programme \n concluded at Copper Flat on 8 February 2010, which totalled 5,041.5ft \n over seven drill holes.\n \n \n - Highlights subsequent to the last drilling report by the Company \n include an intersection of 144.5ft (44.0m) at 0.46% copper, 0.024% \n molybdenum, 0.122 g/t gold and 4.7 g/t silver and an intersection of \n 1,200ft (365.8m) at 0.25% copper, 0.006% molybdenum, 0.112 g/t gold and \n 2.1 g/t silver.\n \n \n - All historic mineralisation types were intersected during the \n programme and new areas for resource development were identified below \n and adjacent to the extent of the historic pit model.\n \n \n - An independent reserve/resource update for the Copper Flat deposit is \n expected to be available in May 2010.\n \n \n - A final report on the pulp re-assay programme that commenced in late \n 2009 is due in April. Results received to date confirm historic drill \n results.\n \n \n Patrick Harford, Managing Director of Mercator, comments:\n \n \n “NMCC’s drilling programme at Copper Flat has fulfilled its key \n objectives, and we look forward to the completion of an independent \n reserve/resource update in May.”\n \n \n Drilling Objectives\n \n \n The major objectives of the programme were to verify the historic \n reserves/resources ...