VANCOUVER, July 20, 2012 /CNW/ - Copper North Mining Corp. ("Copper
North" or the "Company") (TSX.V: COL) is pleased to provide an update
on current corporate activities, this includes progress on the updated
Feasibility Study for the Carmacks Copper Project ("Carmacks"); the
Company's community engagement program and successful Land Use Permit
("LUP") application for the Redstone Property ("Redstone"); and
expansion of its investor relations activities.
Carmacks Copper Project, Yukon
Earlier this year, Copper North reported (see News Release dated
February 1, 2012) that it had engaged M3 Engineering & Technology
("M3") to prepare an updated Feasibility Study for the Carmacks Copper
Project ("Carmacks"). M3 had previously prepared the National
Instrument 43-101 compliant, Feasibility Study report for Carmacks in
May 2007. Completion of the updated Feasibility Study remains on target
for the third quarter, 2012.
Golder Associates Ltd. ("Golder") is finalizing the revised feasibility
level design for the permanent Heap Leach Facility ("HLF") which will
incorporate the use of inter-lift liners (see News Release dated March
1, 2012). Further, Golder is updating the site wide water balance and
water quality model, and is preparing a revised closure plan for the
HLF. The revised closure plan will include an enhanced store and
release cover - optimized to limit water infiltration into the closed
heap; and a new passive treatment design.
In July, Golder completed the annual site inspection at Carmacks, a
condition required by the current Quartz Mining Licence (issued in
Copper North is continuing the baseline surface water quality,
hydrology, and groundwater quality sampling at the Carmacks site, to
add an eighth consecutive open-water season to the baseline database
for the site.
Concurrently, the Company is preparing a revised Project Proposal for
submission (in the third quarter, 2012) to the Yukon Environmental and
Socio-economic Assessment Board (see News Release dated April 26,
Redstone Property, Northwest Territories
The Company's application for a five year Type 'A' LUP, submitted in
support of the 2012 exploration program at the Redstone Property (see
News Release dated May 1, 2012) has been approved by the Mackenzie
Valley Land and Water Board. A LUP has been granted to Redbed Resources
Corp., a wholly owned subsidiary of Copper North. The LUP will enable
the Company to conduct exploration activities on its Redstone Property
for a period of five years from the date of grant.
Local community engagement in the Northwest Territories was initiated by
the Company in early 2012, in advance of the submission of the LUP
application. In the Sahtu Region, the Company has completed a
Traditional Knowledge study, conducted in partnership with the Tulita
Renewable Resources Council, the Fort Norman Metis Land Corporation,
the Tulita Land and Financial Corporation, and the Tulita District Land
Corporation. In the Dehcho Region, the Company has met with board
representatives of the Pehdzeh Ki First Nation Development Corporation
as well as senior representatives of the Liidli Kue First Nation, Fort
Simpson (Fort Simpson is the regional centre of the Dehcho).
With respect to the Redstone exploration program, field crews have been
mobilised to the field camp. The focus of the exploration program
(which is comprised of geological mapping, ground geophysics and
geochemical sampling) is to test potential deposit extensions at the
high-grade, stratiform copper deposit at Coates Lake; as well as to
increase the Company's understanding of the regional prospectivity of
the project by further exploring the known copper occurrences in the
claims located to the north of Coates Lake.
Copper North's President and CEO, Dr. Sally Eyre stated "I am very
satisfied with our progress as we continue to systematically advance
Carmacks and Redstone. Efficient processing of the Redstone LUP
application has enabled us to successfully execute our 2012 exploration
program, and as a result, we are able to start planning field
activities for 2013; at Carmacks, we remain on schedule to complete the
updated Feasibility Study in the third quarter - which will
subsequently enable us to complete and submit the revised Project
Proposal to the Yukon Environmental and Socio-economic Assessment
Copper North has retained the services of Renmark Financial
Communications Inc., ("Renmark") a full service investor relations
firm, which will support the Company's on-going investor relations
In consideration of the services to be provided by Renmark, Copper North
has executed a monthly agreement, with a monthly retainer of $3000.
Renmark does not have any interest, directly or indirectly, in Copper
North Mining Corp. or its securities, or any right or intent to acquire
such an interest.
Further, Copper North confirms the appointment of Peter Oates as
Manager, Investor Relations. Mr. Oates has 5 years' experience in the
junior resource sector. Prior to joining Copper North, Mr. Oates held
corporate communications positions with a number of junior resource
companies, most recently with Brixton Metals Corp., Redzone Resources
and Entrée Gold Inc. Prior to moving into the resource sector, Mr.
Oates held key roles with FedEx Europe and Cable & Wireless
Communications. Mr. Oates will be compensated $70,000 per annum and has
been granted 90,000 stock options at a price of $0.30.
About Copper North
Copper North is a Canadian mineral exploration and development company.
Copper North's assets include the Carmacks Copper Project located in
the Yukon, and the high-grade, stratiform-copper Redstone Property,
located in the Northwest Territories. Copper North trades on the TSX
Venture Exchange under the symbol COL.
Please visit www.coppernorthmining.com.
On behalf of the Board of Directors:
"Sally L. Eyre"
Dr. Sally L. Eyre
President & CEO
This news release includes certain forward-looking information or
forward-looking statements for the purposes of applicable securities
laws. These statements include, among others, statements with respect
to proposed exploration and development activities and their timing.
These statements address future events and conditions and, as such,
involve known and unknown risks, uncertainties and other factors, which
may cause the actual results, performance or achievements to differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from the Company's
expectations include, among others, the timing and success of future
exploration and development activities, exploration and development
risks, market prices, exploitation and exploration results,
availability of capital and financing, general economic, market or
business conditions, uninsured risks, regulatory changes, defects in
title, availability of personnel, materials and equipment, timeliness
of government approvals, unanticipated environmental impacts on
operations and other exploration risks detailed herein and from time to
time in the filings made by the Company with securities regulators. In
making the forward-looking statements, the Company has applied several
material assumptions including, but not limited to, the assumptions
that the proposed exploration and development of the mineral projects
will proceed as planned, market fundamentals will result in sustained
metals and mineral prices, and any additional financing needed will be
available on reasonable terms. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
Neither the 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.
SOURCE Copper North Mining Corp.
For further information:
Peter Oates, Manager, Investor Relations