Catalyst's 2011 Drill Program Continues to Return Significant Copper Mineralization - La Verde Hole LV11-016 returns 0.363% Cu over 867.9 meters

Trading Symbol: CCY

VANCOUVER, May 2 /CNW/ -  Catalyst Copper Corp. (the "Company" or "Catalyst") today announced assay results for the latest two drill holes completed on the La Verde copper porphyry project in Michoacán state, Mexico. Hole LV11-016 drilled on the West Hill deposit returned an average of 0.363 %Cu and 0.005 g/t Au over 867.9 meters. Hole LV11-017 targeted the East Hill deposit and returned 0.413 %Cu, 0.078 g/t Au and 0.005 %Mo over 390.4 meters (See Table 1 below).

"Delineation and expansion drill holes in La Verde's twin copper-gold porphyry deposits are consistently returning copper and precious metal values over significant intervals," says Catalyst's VP Exploration Terry Hodson. "These two deposits are located in an area with excellent infrastructure, are separated by 800 meters, both outcrop at surface near the top of a low ridge and are amenable to low cost open pit mining methods. Based on my years of experience as a geologist evaluating mineral deposits, La Verde is one of the most attractive porphyry copper deposits with which I have been associated."

Hole LV11-016, drilled at -50° to the north, was designed to improve resource definition on West Hill deposit section 810850E (See Image 1).  Numerous copper (chalcopyrite) rich veins and lesser fracture controlled and disseminated mineralization was intersected. This hole was extended to 894.45 meters, the maximum depth capability of the drill rig as mineralization continued to depth. Results for the upper in-fill portion of this hole returned results close to expectations and provided more definition of the mineralization on this section. The lower portion of the hole clearly extends mineralization 150 to 200 meters below the pit shells shown in Figure 1 (Also see Catalyst press release April 19, 2011). This drill hole plus others on this cross section outline potential for expansion of West Hill resources to the north into an area with a 500 meter vertical gap between drill holes. In an east-west direction historical drilling shows this same gap extends for more than 300 meters (sections 810650E to 810950E).

Hole LV11-017 drilled on East Hill section 811900E (See Image 2) at -50° to the north targeted an area of Inferred Resources located below two older holes on this section. And, as was seen with LV11-016, this drill hole also extended mineralization to depth below the recently completed pit shells. Potentially recoverable gold, molybdenum and silver values are associated with the East Hill deposit as indicated by the LV11-017 intersection which contained 0.413 %Cu; 0.078 g/t Au; 0.005 %Mo; 3.2 g/t Ag over 390.4 meters (320.6 to 711.0m) including 1.219 %Cu; 0.236 g/t Au; 0.002 %Mo; 6.0 g/t Ag over 42.3 meters (542.4 to 584.7m).

Drilling at La Verde commenced on January 28, 2011. As of April 22, 2011 six holes had been completed for a total of 4760 meters. Results for LV11-018 are pending and drilling continues on LV11-019.

During 2011, Catalyst plans to drill a minimum of 20,000 meters at La Verde. Additional work planned for 2011 includes environmental studies, metallurgical test work and updating the NI43-101 resource estimate to incorporate new drill results.

TABLE 1  Significant assay results for LV11-016 and LV11-017

                   
Drill Hole Location Dip Azm From(m) To(m) Length(m) Cu% Au g/t Mo%
LV11-016 West Hill -50 000 7.6 875.5 867.9 0.363 0.005 0.001
      incl 74.7 78.6 3.9 2.799 0.031 0.006
      incl 197.6 210.5 12.9 0.524 0.009 0.001
      incl 231.5 249.2 17.7 0.610 0.023 0.002
      incl 275.1 293.0 17.9 0.828 0.007 0.001
      incl 355.5 374.9 19.4 0.835 0.005 0.001
      incl 404.5 449.5 45.0 0.337 0.010 0.001
      incl 449.5 512.9 63.4 0.910 0.005 0.004
      incl 559.1 563.5 4.4 2.107 0.006 0.001
      incl 688.1 704.2 16.1 2.023 0.004 0.002
      incl 750.0 875.5 125.5 0.602 0.008 0.003
LV11-017 East Hill -50 000 110.8 115.0 4.2 0.276 0.007 0.002
        166.0 176.3 10.3 0.334 0.037 0.001
        287.5 295.3 5.7 0.284 0.019 0.001
        320.6 711.0 390.4 0.413 0.078 0.005
      incl 320.6 358.4 37.7 0.444 0.093 0.002
      incl 373.9 407.1 33.2 0.261 0.061 0.011
      incl 428.9 473.8 44.9 0.517 0.106 0.005
      incl 542.4 584.7 42.3 1.219 0.236 0.002
      incl 652.0 711.0 59.0 0.277 0.053 0.003
        720.0 729.1 9.1 0.244 0.028 0.005
        797.7 804.9 7.22 0.288 0.046 0.001
        876.9 892.9 16.0 0.272 0.024 0.002

A map showing previous and current drill holes is available on the Catalyst website at www.catalystcopper.com.

T.W. Hodson, P.Geo. is the qualified person as defined by National Instrument 43-101, and has reviewed the technical disclosure contained herein and accepts responsibility for such disclosure.

About La Verde

La Verde is located in an area with excellent infrastructure. Power, rail and water all cross the property. Lazaro Cardenas, Mexico's third largest port on the Pacific Ocean coast is 180 km from the site. Significant upside potential remains for the two known zones of porphyry style copper, gold and molybdenum mineralization as the 2010 drill program has shown both deposits remain open to depth and along strike.

La Verde property is subject to an option agreement with a Mexican subsidiary of Teck Resources Limited (Teck) whereby Catalyst's 100% Mexican subsidiary, Minera Hill 29, may earn a 60% interest in La Verde by making US$10,000,000 in exploration expenditures (including 30,000 meters of drilling and 200 kilometers of IP) by December 31, 2012. Upon Catalyst earning a 60% interest, Teck has the option to increase its interest to 60% by incurring aggregate expenditures equal to two times the amount spent by Catalyst. Should Teck fail to exercise its option to earn a 60% interest, Catalyst can acquire a 100% interest in La Verde by paying to Teck US$20 million. The property is subject to an underlying 0.5% NSR.

To view La Verde West Hill and La Verde East Hill map please click http://files.newswire.ca/949/Catalyst.doc

ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.

"Terence W. Hodson, P.Geo."

TERENCE HODSON, V.P. EXPLORATION

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Quality Assurance: The Company employs a system of quality control for drill results which includes the use of blanks, certified reference materials (standards) and check assaying. Core is logged on site and split with a diamond saw. Samples are shipped to Acme Analytical Laboratories Ltd. for analysis. All elements with the exception of gold are analyzed by Aqua Regia digestion and ICP-ES analysis. Gold is analyzed by fire assay method.

 

SOURCE Catalyst Copper Corp.

For further information:

Corporate Communications Officer: Denby Greenslade (604) 638-5900.

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Catalyst Copper Corp.

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