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Copperbank Announces Re-Filing Of Pre-Feasibility Study On The Contact Copper Project
VANCOUVER, BC / ACCESSWIRE / March 18, 2016 / Copper B ank Resources Corp. (" CopperBank...
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[{"type":"text","content":"Copperbank Announces Re-Filing Of Pre-Feasibility Study On The Contact Copper ProjectVANCOUVER, BC / ACCESSWIRE / March 18, 2016 / CopperBank Resources Corp. (\"CopperBank\" or the \"Company\", CSE:CBK) announces that it has filed on SEDAR an amended technical report NI 43-101 PRE-FEASIBILITY STUDY ON THE CONTACT COPPER PROJECT dated October 1, 2013 (the \"Amended PFS\"). The report was amended as a result of a review by the British Columbia Securities Commission, and we are issuing this news release to clarify our disclosure.\nIn the Amended PFS, line items listing \"inferred\" are removed from Table 15-1, Mineral Reserve. All tables and references to global resources and historical estimates within the technical report are also removed. NI 43-101 restricts the disclosure of quantities and grades of a deposit that are not a mineral resource or reserve, hence, references to global resources pertaining to the estimated grade block model, were removed, as were the line items for inferred in Table 15-1, which misrepresented \"inferred\" in the table as being a reserve category. Additionally, three tables listing resources at a range of cut-offs, which were either un-optimized or had measured and indicated resources inappropriately combined, were similarly removed. The references to historical resources were in fact previous estimates commissioned by the company, and are no longer current estimates, and were, therefore, removed from the History section.\nThe Company confirms that the Mineral Resource and Mineral Reserve for the Contact Copper Project remains the same as in the Summary of the technical report and in the related October 1, 2013 press release, which are as follows.\nMineral Resource Estimate Reported at 0.07% Cu Cut-off\nImage: https://www.accesswire.com/uploads/copperbank.PNG \n*Notes:\n(1) Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves.\n(2) Measured and Indicated Mineral Resources captured within the pit shell meet the test of reasonable prospect for economic extraction and can be declared a Mineral Resource.\n(3) Inferred Mineral Resources are that part of the Mineral Resource for which the quantity and grade or quality are estimated on the basis of geolo...