Caribou Copper Resources Ltd. Encounters New Mineralization and Finishes
Drilling For Season

OTTAWA, Oct. 29 /CNW Telbec/ - Caribou Copper Resources Ltd. (the "Corporation") (TSXV: CKR) (formerly YOW Capital Corp.) is pleased to report that it has completed 2,038 feet of surface diamond drilling under its 2009 work program on its Caribou Dome property in Alaska.

The planned 2009 program consisted of drilling three holes totaling approximately 3,000 feet designed to probe the extent of the mineralization in lodes 5 and 6 at depth. Two holes were completed to a total combined depth of 2,038 feet. The second of the two holes encountered a zone of previously unknown mineralization. Weather conditions and safety concerns were assessed and a determination was made to postpone the balance of drilling until after the spring thaw anticipated mid May to early June.

The second of the two drill holes, DH-104, drilled at a dip of -50 degrees to a depth of 820.5 feet, was designed to test the east-west trend of lode 5 deeper in the mineralization where few historic holes have been drilled. Four distinct intervals of mineralization were encountered with visible pyrite over much of the hole from 339 feet onwards. The four intervals were observed to contain copper in the form of chalcopyrite.

Visible mineralization was noted in DH 104 as follows:

    From         To

    339'         346'     chalcopyrite, pyrite
    350'         352'     chalcopyrite, pyrite
    514.6'       516.1'   chalcopyrite, pyrite
    669.2'       676'     chalcopyrite, pyrite

Initial observations indicate the chalcopyrite mineralization from 669.2' to 676' is on strike with the known mineralization in lodes 5 and 6. The mineralized interval from 339' to 352' is aligned with mineralization in diamond drill hole CD99-102 along an east-west trend, paralleling lode 5. CD99-102 was drilled in 1999 by Atna Resources Ltd. "This is especially interesting, as it may indicate a new previously unknown zone of mineralization approximately 100 - 150' south of lode 5." says company president Pierre Vella-Zarb.

The first hole DH-103 was designed to test for potential downward extension of previously encountered mineralization in lode 6. DH-103 was drilled at a -55 degrees dip to a depth of 1,217.5 feet and encountered pyrite in three intervals between 928 feet and 1,047.8 feet as follows:

    From         To

    928'         932'     pyrite
    1,036'       1,038.5' pyrite
    1,041.3'     1,047.8' pyrite

While no visible copper was observed in DH-103, initial observations indicate the pyrite is in line with the mineralized zone of the eastern portion of lode 6. Since the Caribou Dome copper mineralization formed in a marine reducing basin, the pyrite confirms the existence of the chemical conditions for the formation of additional copper deposits.

In addition to completing the two surface diamond drill holes, the camp was enlarged and improvements were made to the access road to the site, substantially reducing travel time and enhancing vehicular access.

Approximately 600 feet of core has been brought back to Anchorage for further study before being cut and sent out for analysis.

The Caribou Dome prospect is located about 160 miles north east of Anchorage and 70 miles to the east of Cantwell at an elevation of over 4,000'. Access to the property is via the Denali Highway, which is not maintained by the State of Alaska from October 1 through to spring.

Caribou Copper Resources holds 97 claims totaling 10,240 acres in the Matanuska-Susitna Borough in Alaska. Further information concerning the corporation and the property and the 2009 work program can be found in the corporation's filings available on SEDAR.

The technical contents of this release were approved by Dr. Donald L. Stevens, of Stevens Exploration Management Corp., qualified person as defined by National Instrument 43-101.

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.

%SEDAR: 00026664E

SOURCE Caribou Copper Resources Ltd.

For further information: For further information: Mr. Pierre Vella-Zarb, Caribou Copper Resources Ltd., 950, Gladstone Avenue, Suite 120, Ottawa, Ontario, K1Y 3E6, (613) 232-1642 x206 (tel), (613) 232-1658 (fax)

Organization Profile

Caribou Copper Resources Ltd.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890