VANCOUVER, Feb. 16 /CNW/ - Canadian Mining (the Company) is pleased to
report it has expanded its mineral holdings in the prolific Babine Lake
porphyry copper area in Central British Columbia. CEO Ray Paquette
recognizes this as a great opportunity to position the Company in an
area that has undergone extensive exploration and development leading
to the discovery of two past producers; the Granisle Mine and the Bell
Mine and most recently Pacific Booker Minerals Inc. (TSXV: BKM)
discovery and its advancement towards production.
The Granisle Porphyry Copper-Gold Mine operated from 1966 to 1982,
reportedly producing 214,299,455 kilograms of copper, 6,832,716 grams
of gold and 69,752,525 grams of silver from 52,321,517 tonnes of ore.
Low copper prices in the early 80s eventually led to the closure of
this open-pit mine.
Similarly, the Bell Porphyry Copper-Gold Mine operated from 1977 to
1992, reportedly producing 304,795,539 Kg of copper, 12,885,964 grams
of gold and 38,319,730 grams of silver from 77,146,088 tonnes of ore.
Canadian Mining's Perks claims now total 4,730 hectares (11,687 acres)
within the prolific Babine Lake porphyry copper area. The western block
of claims is located approximately four kilometers from Pacific Booker
Mineral's Morrison Lake porphyry copper/gold/molybdenum deposit.
Pacific Booker Minerals is in the advanced stage of development of the
Morrison deposit. They have completed a Feasibility Study and a 43-101
compliant Technical Report and are proposing a 30,000 tonne per day
open-pit mining and milling operation for the production of
copper/gold/molybdenum concentrate. The proposed construction date is
2011 and the proposed start of operation is 2013.
Canadian Mining's position in this key area provides the Company with
past production knowledge and advanced project association. The Company
has an experienced management team in place with a growth strategy to
develop a diversified portfolio of projects.
On behalf of the Board
Ray Paquette CEO
Please see our web site for additional details: www.canadianmining.ca
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
SOURCE Canadian Mining Company Inc.
For further information:
Mr. Ray Paquette 604.684.3301