Business
Copper Flat Update
Copper Flat Update.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Copper Flat 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: MCROTC (USA): MTGDY\n \n \n COPPER FLAT UPDATE\n \n \n London 18 February 2010 - Mercator Gold plc is pleased to provide \n an update on its evaluation of the Copper Flat project (“Copper Flat”), \n located in New Mexico, USA. Mercator holds an exclusive option over \n Copper Flat.\n \n \n Highlights\n \n \n \n Drilling programme initiated on 4 January of this year successfully \n completed on 5 February.\n \n \n Initial assay results include intersection of 429ft (131m) at an \n average grade of 0.73% copper, with balance of assays expected by 26 \n February 2010.\n \n \n Reanalysis of 800 pulps from historic drilling has shown on average a \n 3.9% increase in copper values and 3.6% increase in molybdenum values \n over historic averages.\n \n \n Completion of Canadian NI43-101 compliant Preliminary Economic \n Assessment (“PEA”) report by SRK Consulting.\n \n \n Extension granted regarding payment of US$1m due by 14 February 2010 \n in connection with the exercise of Mercator’s option over Copper Flat; \n payment now due, at Mercator’s election, by 30 March 2010, allowing \n the Company time to review all assays from recent drilling.\n \n \n \n Drilling Update\n \n \n A total of 5,005ft (1,526m) of core from the programme of drilling \n carried out at Copper Flat by Mercator’s wholly owned subsidiary New \n Mexico Copper Corp (“NMCC”) has been split and samples sent to Skyline \n Assayers & Laboratories in Tucson, Arizona, USA. The samples are being \n analysed for copper, gold, silver, and molybdenum. In addition, 50 \n samples have been sent for detailed bulk density analysis by Skyline.\n \n \n The drilling programme was designed to provide data to update the \n historical Copper Flat resource to an NI43-101 compliant Measured and \n Indicated resource, and to provide geotechnical and geochemical \n information required for the planning and permitting of future \n operations.\n \n \n The programme was also intended to provide information regarding the \n possible extension of known resources/reserves at Copper Flat below and \n adjacent to the historic planned open pit. Historically, the majority of \n the Copper Flat resource was hosted by an extensive brecci...