Princeton ups Elenita resource

The Elenita oxide copper project in northern Chile is now

estimated to contain an in situ resource of 9.1 million tonnes grading 1.57% copper.

Owner Princeton Mining (TSE) arrived at the estimate after drilling 114 holes within a 900-by-600-metre area. The entire program spanned 19,000 metres.

The deposit is made up of a series of stacked, subparallel,

strataform mantos varying in thickness from 2 to 36 metres and dipping at about 45. The mineralization remains open to

expansion in a number of directions, as well as at depth.

Princeton is working on pit designs and calculations for a

minable reserve.

Leachability tests are also under way, and consultant H.A. Simons is carrying out a preliminary feasibility study.

Teck (TSE) and Cominco Resources International (TSE) can earn a half interest by financing a final feasibility study and funding the project through to production.