VANCOUVER, May 11, 2017 /CNW/ - Copper Mountain Mining Corporation (TSX: CMMC) (the "Company" or "Copper Mountain") has started a 10,000m exploration drilling program at the Copper Mountain Mine. The 2017 program is targeting to further extend Pit 2 to the West and to follow up on the pre-2012 drilling that intersected significant mineralization below Pit 2.
Previous drilling by the Company in the Pit 2 Eastern zone intersected a 128m interval grading 1.01% Cu and 0.25g/t Au (including 39m grading 2.33% Cu and 0.38g/t Au) beginning approximately 90m below the current pit bottom in hole 10SD-64. In addition, hole number 10SD-68 intersected 173m interval grading 0.43% Cu and 0.15g/t Au, while hole number 12P2-19 intersected 123m interval grading 0.52% Cu and 0.27g/t Au. The exploration drilling is designed to better determine the trend and continuity for high-grade mineralization at depth under Pit2.
With the strengthening of the commodity price over the last year and the mine's improved financial position, the Company has allocated modest funds to an exploration drilling program at the mine site. Our focus is to follow up on prior drilling successes to expand the open pit to the west and further test the continuity of higher grade mineralization at depth.
About Copper Mountain Mining Corporation:
Copper Mountain's flagship asset is the Copper Mountain mine located in southern British Columbia near the town of Princeton. The Company has a strategic alliance with Mitsubishi Materials Corporation who owns 25% of the mine. The Copper Mountain mine has a large resource of copper that remains open laterally and at depth. This significant exploration potential will be explored over the next few years in order to fully appreciate the property's full development potential. Additional information is available on the Company's web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Jim O'Rourke, P.Eng.
Chief Executive Officer
Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement.
SOURCE Copper Mountain Mining Corporation
For further information: Dan Gibbons, Investor Relations 604-682-2992 ext. 238 Email: Dan@cumtn.com; Rod Shier, Chief Financial Officer 604-682-2992 ext.222 Email: Rod@CuMtn.com; Website: www.CuMtn.com