Trading Symbol: CCY
VANCOUVER, Aug. 5 /CNW/ - Catalyst Copper Corp. (the "Company" or "Catalyst") is pleased to announce the contracting of Micon International Ltd. ("Micon") to complete a NI 43-101 compliant resource estimate for the La Verde copper-gold porphyry project located in Michoacan State, Mexico which Catalyst's holds under option from a subsidiary of Teck Resources Limited. This resource estimate will incorporate all previously completed drill holes as well as drill data from the current drill program in progress.
Several historic mineral resource estimates have been generated at La Verde, but are not compliant with current CIMM and NI 43-101 guidelines. The last publicly released historic mineral resource of 72.6 million tonnes at an average grade of 0.7% copper was included in the 1972 feasibility study completed on behalf of Lytton Minerals Ltd. and was calculated prior to the enactment of NI 43-101.
Currently Catalyst has completed 4967 meters in 10 drill holes of the planned 10,000 meter program. Phase 1 of this drill program was designed to twin a number of the 1970's drill holes in order to verify historical grades and Phase 2 targeted extensions of known Cu-Au mineralized drill intersections.
All current drill holes have encountered visual copper mineralization as reported in the historical drill holes. To date, all completed holes drilled to twin historic holes have been extended past the original depth on the basis of the presence of visible copper mineralization (Table 1). Assay results are pending. Core samples are being sent to Acme Labs of Vancouver for analysis.
Drill hole Original Twin Area
Depth (m) Depth (m)
V-012 259.8 425.4 (in progress) East Hill
V-013 276.5 499.3 East Hill
V-014 167.0 349.2 East Hill
V-038 243.9 564.9 East Hill
V-076 108.7 398.9 East Hill
V-015 310.3 659.0 West Hill
V-017 276.0 254.8 (in progress) West Hill
V-019 276.0 660.9 West Hill
V-021 321.8 671.6 West Hill
V-047 460.7 583.4 West Hill
The Induced Polarization (IP) survey (geophysical program) is continuing with 100.6 line kilometres completed to date and 35 kilometres remaining to be completed. Areas which have returned interesting IP responses are being filled in with closer spaced lines where warranted. In particular, the process of investigating a magnetic signature in the southern part of the property led to the discovery of anomalous IP responses on 3 lines, 450 metres apart and still open along strike. This is regarded as very encouraging as previous geological and geophysical programs at La Verde demonstrated a strong association between anomalous IP responses and porphyry copper mineralization. Additional lines have now been laid out in this area to provide more detailed coverage.
Catalyst Copper is a Vancouver-based publicly traded mine development company (TSX-V: CCY) that optioned the La Verde copper porphyry project in Michoacan, Mexico from a subsidiary of Teck Resources Limited (see December 8, 2009 news release for complete option details).
ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.
"Terence W. Hodson"
TERENCE W. HODSON, V.P. EXPLORATION
T.W. Hodson 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.
Reference may be made in this press release to historic minerals resource estimates. None of these are NI43-101 compliant and a qualified person has not done sufficient work to classify these historic estimates a current mineral resource. They should not be relied upon and Catalyst does not treat them as current mineral resources.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.
SOURCE Catalyst Copper Corp.
For further information: For further information: Corporate Communications Officer: Denby Greenslade, (604) 638-5900