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Vancouver, BC / ACCESSWIRE / December 15, 2014 / CopperBank Resources Corp. (CSE:CBK) ("CopperBank" or "the Company") is pleased to announce that it has received a Frankfurt exchange listing, commencing trading under the WKN number - 9CP.F.
"Our Frankfurt listing will allow European Investors greater accessibility to invest in CopperBank", said Gianni Kovacevic, Executive Chairman of the Company. "Copper is one of the most utilized materials in the world and the keystone to the green energy movement. It is important for the CopperBank brand and our low burn rate 'pounds in the ground' business model to have a broad international presence. Offering this high quality and cost effective European trading platform, priced in the Euro currency, makes for the most convenient way for any European investor to participate in CopperBank. Being fluent in various European languages, I will be able to uniquely educate and update our growing European shareholder base on my frequent trips to the continent."
About CopperBank
CopperBank offers investors exposure to copper as a highly leveraged "pounds in the ground" strategy. Functioning as a transactional depository of copper projects, CopperBank operates with a low burn rate by undertaking no work commitments and aggregating only established projects. Currently CopperBank owns the Contact Copper Project in Nevada and the Pyramid and San Diego Bay Projects in Alaska.
Pyramid and San Diego Bay Projects, Alaska
The Pyramid Deposit and San Diego Bay Project are located on lands under option from The Aleut Corporation, an Alaska Regional Native Corporation. Pyramid is located less than eight kilometers from deep tidewater. From 2010 to 2012, drilling has spanned an area measuring approximately 1,800 meters east-west and 1,050 meters north-south. From 2010-2012, 30 diamond drill holes totaling 7,486 meters were drilled at Pyramid. The Property contains Inferred Resources (see Report dated June 21, 2013, was prepared according to NI 43-101 guidelines and in accordance with CIM Standards on Mineral Resources and Reserves, under the supervision of independent qualified persons, The report was compiled by Dr. Gilles Arseneau, P.Geo., and Darrell Farrow, M.Sc., Pr.Sci.Nat., both Associates with SRK Consulting (Canada) Inc.).
At a 0.21% copper equivalent cut-off, total contained copper in the inferred category is estimated to be 1.34 million pounds of copper, 74 million pounds of molybdenum and 488,000 ounces of gold. Both near-surface supergene enriched mineralization as well as hypogene copper mineralization were modeled and interpolated. The mineral resource estimate shows that the hypogene mineral resource remains open to depth and along strike in most areas, and the higher grade supergene enriched mineralization is also open for expansion in several areas.
The San Diego Bay Project is approximately eight kilometers east of Pyramid, and is an impressive sixty square kilometer of gossan, hydrothermal alteration and anomalous precious and base metal geochemistry. This is one of the largest alteration systems in southern Alaska and has received very limited exploration.
Contact Project, Nevada
The Contact Copper Project in northeastern Nevada, is a 100%-owned project consisting of 2,800 hectares of patented and unpatented mining claims. Copper mineralization has been defined by drilling for 2,300 meters in length and over 900 meters in width along an east-west trend. The mineralization occurs in and around quartz veins within granodiorite, in zones of vein and disseminated copper oxides tens to hundreds of feet in width and extending to depths greater than 300 meters.
A Prefeasibility Study was completed in October 2013 by Hard Rock Consultants, LLC (HRC). The NI 43-101 compliant Mineral Reserve estimate in the PFS contains 58 million tons of 0.23% Cu (263 million pounds of copper) in the proven category and 83 million tons of 0.21 % Cu in the probable category (348 million pounds of copper) for total Proven and Probable Reserves of 141 million tons of 0.22% Cu (612 million pounds of copper) at a 0.07% Cu cut-off grade. The Mineral Reserves are extractable by surface mining at a waste-to-ore ratio of 2.3:1. The updated NI 43-101 compliant Mineral Resources in the 2013 PFS contain 87 million tons at 0.20% Cu (350 million pounds of copper) in the measured category and 236 million tons at 0.19% Cu (880 million pounds of copper) in the indicated category, for total Measured and Indicated Resources of 323 million tons at 0.19% Cu (1.23 billion pounds of copper) at a 0.07% Cu cut-off, inclusive of the Mineral Reserves. The Mineral Resources also contain 106 million tons of 0.19% Cu (393 million pounds of copper) in the inferred category, which are not part of the Mineral Reserves. The project was modeled in the 2013 PFS as an open pit-heap leach operation utilizing SX-EW recovery to yield cathode copper at the rate of 49 million pounds per year over a 9.4 year life.
The Qualified Persons for the PFS for the Contact Copper Project are Jeff Choquette, P.E., Principal Mining Engineer, MMSA-QP, Terre Lane, Consulting Mining Engineer and QP, MMSA-QP, Zachary J. Black, Principal Resource Geologist and QP SME-RM No. 4156858RM, and Deepak Malhotra, PhD, Resource Development, Inc., MMSA-QP.
Additional information including technical reports can be reviewed at www.Copperbankcorp.com.
Qualified Persons
The technical content of this release has been reviewed and approved by Rob McLeod, P.Geo CEO of Copperbank and by William Willoughby, PhD., P.E., President of Copperbank. Both are Qualified Persons as defined by NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
"Gianni Kovacevic"
Gianni Kovacevic
Chairman
For more information please contact:
Gianni Kovacevic
gk@copperbankcorp.com
604-889-0852
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release may constitute "forward-looking statements" within the meaning of Canadian securities legislation.
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-889-0852 Fax: 604-484-7155
www.copperbankcorp.com
SOURCE: CopperBank Resources Corp.