Vancouver – The last 28 drill results from Capstone Mining’s (CS-T) 2008 drill program at the Minto mine confirm good grades of relatively near-surface copper and gold within the Ridgetop zone, about 1 km south of Minto’s open pit.
The results come in anticipation of updated resource estimates for the Minto mine due out the first quarter of 2009.
Holes 358 and 359 returned the best results. Hole 358 intercepted 62 metres grading 0.97% copper, 0.26 grams gold per tonne and 2.5 grams silver per tonne starting 53.4 metres downhole.
That intercept included a higher grade zone in its upper reaches. Between 53.4 and 74.5 metres it graded 1.56% copper, 0.47 gram gold and 3.1 grams silver.
Hole 359 returned similar results with 61 metres grading 0.72% copper, 0.16 gram gold and 1.5 grams silver starting 39 metres downhole. Within that was a 22 metre higher grade zone of 2.12% copper, 0.82 gram gold and 5.1 grams silver started 79 metres downhole.
The 28 holes were part of a 120-hole, 24,000-metre drill program that infilled and expanded three zones, Area 2, Area 118 and Ridgetop, all within 1 km of Minto’s Main zone open pit.
The drilling will form the basis of resource estimates in a pending prefeasibility study intended to look at possible expansion of the Minto mine. Capstone expects to complete the study mid-2009.
In 2006 Capstone pegged inferred resources of 4.9 million tonnes grading 0.85% copper, 0.23 gram gold and 2.01 grams silver at Ridgetop and 6.6 million tonnes grading 0.97% copper, 0.27 gram gold and 3.07 grams silver at Area 118.
Area 2 weighed in at 11.3 million measured and indicated tonnes grading 1.13% copper, 0.40 gram gold and 3.79 grams silver.
In the last quarter ending Sept. 30 the Minto mine, located 240 km northwest of Whitehorse in the Yukon, produced about 7 millions lbs. of copper.
On news of the drill results Capstone closed up 6¢ to close at 79¢. The company has about 165 million shares issued.
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