Capstone Reports Additional High Grade Copper-Gold Results at Minto North
Wednesday, September 2nd, 2009
Capstone Mining Corporation has announced assay results from eleven additional drillholes completed on the “Minto North” mineral resource infill drill program at its high grade Minto copper-gold mine in the Yukon. These most recent drill intercepts from the Minto North deposit, which is located 600 metres north-northwest of the current open pit mine, are from infill holes designed to better define the mineral resource and returned high grade copper-gold intercepts confirming the results of the initial discovery and delineation program.
“The infill drilling at Minto North continues to not only confirm the high grade nature of the Minto North deposit, but the four holes highlighted above demonstrate excellent continuity of the very high grade core up to the western margins of the deposit,” said Stephen Quin, President & COO of Capstone. “Once all assay results are in, the mineral resource estimate will be updated and used in the Phase IV expansion study currently in process.”
All Minto North drill core samples are now in the laboratory and results for the final 25 holes are expected shortly. With a drillhole spacing similar to that used to support the definition of measured & indicated mineral resources and mineral reserves elsewhere at the Minto Mine, this latest phase of drilling is sufficient to support a significant upgrade in the mineral resource classification and provide the confidence level required for a conversion to mineral reserves, should economic factors warrant it. These factors are currently being determined by the Phase IV expansion study, which is nearing completion.
Minto North Deposit
As previously reported on June 9, 2009, Capstone announced a preliminary mineral resource estimate at Minto North. The aim of this recently completed infill drill program is to boost the confidence in this mineral resource sufficient to support a conversion to mineral reserves by demonstrating both continuity of grade and thicknesses. Capstone believes this has now been achieved and has started the process to revise the mineral resource estimation. The 3D geological model is currently being updated and the new estimation will start as soon assay data for the entire infill program is received, which will be in time for inclusion into the Minto Phase IV expansion study.