Trading Symbol TSX:V GTC
COQUITLAM, BC, July 19 /CNW/ - The company wishes to announce that it has received a National Instrument 43-101 (NI 43-101) Technical Report for the Getty South Copper deposit located in the Highland Valley area near Kamloops in British Columbia. The report was prepared by Craig L. Parkinson, P.G. of Vector Engineering, Inc.
The report discloses that the inferred resources consist of 28.16 million tonnes, having a grade of 0.47% copper at a cut off grade of 0.20% copper.
INFERRED RESOURCE SUMMARY
GETTY SOUTH DEPOSIT
CUT-OFF GRADE (equal sign) 0.20% COPPER
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Ore Type Tonnes Grade Pounds of Copper
(000's) (% Cu) (millions)
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Oxide 3,100 0.51 34.6
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Sulfide 25,060 0.46 255.4
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Total 28,160 0.47 290.0
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The Getty South property is currently 50% owned and controlled by Getty Copper Inc., and 50% owned by Robak Industries Ltd., a private company owned by John Lepinski, a director of Getty Copper Inc.
The Getty South property consists of 22 crown granted claims which are located approximately 5 km north of the former Bethlehem mine, in the Highland Valley mining camp.
The report also recommends at least three in-fill diamond drill core holes should be drilled to a depth of 500 meters each at an estimated cost of $150,000, as well as conduct a program of additional in-fill drilling, trenching and bulk sampling.
The inferred mineral resource is prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definition standards on Mineral Resources and Mineral Reserves, and the author of the report is an independent Qualified Person within the meaning of NI 43-101.
The date of the report is June 18, 2007. The report utilized data from 118 diamond drill holes totaling 19,003 meters. In addition to the 118 drill holes, 15 trenches having a total trench length of 1,572 meters were evaluated in conjunction with the observations made in 1,719 meters of underground workings. The data from trench sampling together with geological evaluations, drill-data cross sections, plan maps and elevation maps, and assay results of all sampling programs were used to conduct an assessment of the Getty South Deposit. The data was utilized to determine the width, length and depth of individual mineralized copper resource blocks within the near-surface oxide mineralized zone and deeper sulfide mineralized zone. It must be noted that mineral resources that are not mineral reserves do not have demonstrated economic viability and as such, additional work would be required to upgrade the resource from the inferred category.
The inferred resource estimates for the Getty South Deposit are based on estimates of the length, width and down-dip extension of the mineralized zones for each block in the conceptual model. The inferred mineral resource is composed of numerous inferred ore blocks projected from drill intercepts, underground sampling and mineral continuity data collected from surface trenches. Configuration and estimates of grades of the resource blocks are based on drill intercept data and on direct observation of the structures in underground workings.
The report will be filed on Sedar, and may be viewed at www.sedar.com.
The independent qualified person who has reviewed this release is Craig L. Parkinson P.G., a consultant to the company.
For a full review of the company's 200 square kilometer Highland Valley property, including the more advanced Getty North porphyry copper-molybdenum Deposit, which has been extensively drilled with over 200 diamond drill holes, please see the company's website www.gettycopper.com
ON BEHALF OF THE BOARD OF DIRECTORS
John M. Parks, Director and Corporate Secretary
Certain statements in this document constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.