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Canadian International Minerals Inc. To Acquire Copper-Cobalt Project In Czech Republic
(via Thenewswire.ca) August 3, 2016 / TheNewswire / Vancouver, British ...
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[{"type":"text","content":"Canadian International Minerals Inc. To Acquire Copper-Cobalt Project In Czech Republic(via Thenewswire.ca)\n\n \n\n\n\n\n\n\n \nAugust 3, 2016 / TheNewswire / Vancouver, British Columbia - Canadian International Minerals Inc. (the \"Company\") (TSX-V: CIN) is pleased to announce it has entered into an agreement to acquire 100% of the past-producing Tisova copper deposit, located in the prolific Erzgebirge mining district in northwestern Czech Republic. The deposit is encompassed by an Exploration Lands (pruzkumneho uzemi) mineral concession, which is held by Golden Pet s.r.o. (\"Golden Pet\"), a private Czech company. The concession was granted to Golden Pet by the Czech Ministry of Environment (Ministerstvo zivotniho prostredi) in 2015, and carries a five year term.\n\n \n \nThe Tisova concession incorporates a former copper producer with historical production dating from the 12th century and last producing from 1959 to 1973. Most recently, the mine operated from 1959 to 1973, producing 561,000 tonnes at an average grade of 0.61% copper (Sucek-Kozubek, 1994).\n\n \n \nWhile historically the deposit was mined primarily for copper, significant concentrations of other base and precious metals have also been identified, though there appears to be no mention of their recovery in any historical documents.\n\n \n \nCobalt was noted in testing as early as 1901, with grades between 0.4% and 0.7% (Zeitschrift fur prakische Geologie, Sucek-Kozubek, 1994). Between 1952 and 1956, various mineral research agencies reported concentrations of up to 0.11% Co, 4.32 g/t Au, and 20 g/t Ag (Hoffman, U., 2010). \n\n \n \nTisova is classified as a Besshi-type Volcanogenic Massive Sulphide (VMS) deposit. Such deposits are often large and, along with copper and cobalt, normally include other recoverable base and precious metals. One of the world's largest Besshi-type deposits is the Windy Craggy deposit located in British Columbia, which has a measured geological reserve of 297,439,000 tonnes of 1.38% copper, and 0.069 % cobalt, with substantial gold and silver credits (BCEMR Minfile).\n\n \n \nTwo stages of drilling exploration took place at Tisova in the 1950's and 1960's, with more than 100 drill holes having been completed by Czechoslovak state mining companies. Drill logs exist, but under the then current economic system all core was consumed in ...