Vancouver – Capstone Mining (CS-T) is outlining a new area of shallow copper-gold-silver mineralization on the southwestern flank of the Ridgetop zone, a key target for possible expansion of mining operations at the Minto mine in the Yukon.
In 2009 Capstone collared most of its 58 drillholes at Ridgetop in the hopes of upgrading inferred resources to the indicated category.
At Ridgetop Capstone defined copper mineralization on the perimeter and in gaps of its 2009 resource model, which formed the basis of a mid-December, 2009, prefeasibility study delineating mine expansion.
The results at Ridgetop include: 4.1 metres grading 4.14% copper, 1.71 grams gold per tonne and 20.3 grams silver per tonne in hole 566 starting 81 metres downhole; and 12 metres grading 1.26% copper, 0.65 gram gold and 6 grams silver in hole 570 starting 69 metres downhole.
Beyond Ridgetop, Capstone also hit intriguing copper-gold-silver mineralization in Minto East where hole 591 cut 12 metres grading 1.92% copper, 0.79 grams gold and 4.6 grams silver starting 310 metres downhole in hole 591.
Deeper results at Minto are now especially meaningful as Capstone announced plans in mid-December to progress an underground mining option at what has so far exclusively been an open-pit mine.
Outlining 2010 plans, with particular reference to Minto East, in a statement Capstone president and chief operating officer Stephen Quinn said: “In 2010, we will be focused on defining the new Minto East discovery, defining and hopefully extending the potential underground mining areas around the proposed open pits, while, in parallel, aiming to make yet more discoveries on this highly prospective property.”
On news of the drill results Capstone’s shareprice dropped 10¢ to $2.79. Capstone has about 196 million shares outstanding.
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