Constellation Copper extends Cashin deposit

The last two holes of a recently completed drill program at the Cashin deposit in Colorado have returned some more encouraging results for owner Constellation Copper (CCU-T).

The holes were designed to cut across the axis of the extension of the deposit to the south of La Sal Creek, and returned:

• hole 14 — 365 ft. (from 409 ft. below surface) grading 0.52% copper; and
• hole 15 – 77 ft. (from surface) running 0.49% copper, and 120 ft. (from 152 ft.) of 0.47% copper.

The company says the holes show that the deposit continues beyond the reach of the holes drilled earlier in the program. The previous six holes at Cashin yielded an average of 0.55% copper over 232 ft. The holes were drilled in two separate fan patterns east of three previously sunk holes that returned 0.46-0.85% copper over widths of 90-351 ft.

Further drilling to test extensions to the south will follow, pending geological and engineering evaluation of the results.

A technical report of the project is expected by the end of April.

The drilling is attempting to define a resource south of La Sal Creek to supplement the estimated resource north of La Sal Creek. Based on 77 holes drilled in 1994 and 1995, Cashin hosts a total resource of 13 million tons grading 0.5% copper. Included is a measured and indicated resource of 3.45 million tons grading 0.55% copper. The material is amenable to open-pit mining and would be trucked to the proposed Lisbon Valley project for processing.