Ajax drilling outlines new copper-gold zone for DRC

Vancouver – Drilling between two previously mined pits at DRC Resources’ (DRC-T) wholly owned Ajax property, near Kamloops, British Columbia, has turned up a large copper and gold mineralized system in a porphyry environment.

Exploration drilling by the company successfully outlined a near surface, large low-grade, sulphide copper zone with an interpreted thickness of over 300 metres, extending deeper than the two previous pits, and a strike length of over 400 metres.

Three of the five drill holes returned wide intercepts of low-grade copper and gold including:

• Hole AX-01 Multiple mineralized zones were encountered, including 51 metres (from 75 metres) of 0.232% copper and 0.145 grams gold per tonne, 121 metres (from 156 metres) grading 0.24% copper and 0.169 grams gold, 63 metres (from 307 metres) at 0.362% copper and 0.165 grams gold, and 31.2 metres (from 421 metres) averaging 0.249% copper and 0.126 grams gold;
• Hole AX-02 Intersected 194 metres (from 26 metres) grading 0.233% copper and 0.141 grams gold, and 123 metres (from 277 metres) assayed at 0.221% copper and 0.082 grams gold;
• Hole AX-04 Delivered a 278 metres intercept (from 27 metres) of 0.233% copper and 0.159 grams gold.

The past producing open pits at Ajax were operated by Teck-Cominco (TEK-T) in the early 1990s who shipped the ore to the Afton mine, 10 km away.

DRC Resources has an option to earn a 100% interest in the Afton copper-gold deposit in south-central British Columbia.

In 2002 and 2003, the company conducted over 50,000 metres of drilling that identified a new, significant copper-gold deposit adjacent to the previously mined Afton open pit that was operated by Teck from the late-1970s to the late-1980s.

An independent advanced scoping study has outlined a measured and indicated resource of 68.7 million tonnes grading 1.08% copper and 0.85 grams gold (an equivalent grade of 1.68% copper has been assigned). The proposed mining plan at Afton calls for underground panel (block) mining at a rate of 9,000 tonnes-per-day.

As of the latest figures, the company reports 13.2 million shares outstanding and the issue trades in the $5.50 per share range.