Champion Iron Limited press release
Copper Reef Drills 3.9 m of 24.14 g/t Gold
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(via Thenewswire.ca)
Toronto, Ontario, February 4, 2009….Copper Reef Mining Corporation ("Company") (CZC.CNSX) is pleased to announce results from the first 14 holes of a 79 drill program on its Gold Rock Property near Snow Lake Manitoba. The first mineralized vein intersection started with drill hole 6 and continued up and past hole 14. Coarse gold was intersected in over 50% of the drill holes, although the nugget effect has affected the results of drilling giving medium grade intersections to very high grade intersections as in Drill Holes 6 and 14.
The Gold Rock vein lies along a quartz veined shear 2 km long with the North Star deposit at the south end and the Gold Rock Vein at the north end of the shear with very little drilling in between. Copper Reef is concentrating its efforts recently on the high grade Gold Rock portion of the shear.
The 14 HQ (2.5 inch diameter) holes into the Gold Rock vein system were drilled at 10 m spacings along a 60 m section of the 325 m long vein. The drilling was done along two tiers of holes drilled to intersect the vein at two levels 7-10 m vertical and 20-22 m vertical levels. The first drill hole results are listed in the table below. True width of the odd numbered holes drilled at 45 degrees are approximately 85% the core length, the true width of the even numbered holes drilled at 75 degrees are 75 % the core length.
GOLD ROCK DRILL HOLE RESULTS Drill Hole From To Core Length (m) g/t gold GR-08-06 16.0 19.9 3.9 m 24.14 GR-08-08 29.0 30.3 1.3 m 5.75 GR-08-09 8.2 9.3 1.1 m 6.00 GR-08-10 15.8 18.0 2.2 m 8.66 GR-08-11 11.6 12.8 1.2 m 1.96 GR-08-12 24.2 24.6 0.4 m 1.78 GR-08-13 12.7 13.9 1.2 m 4.02 GR-08-14 24.8 26.6 1.8 m 61.2
Once all the 79 Drill Holes from last fall's drilling have been logged, sampled, and assayed; a compilation of the results will enable Copper Reef to plan its next program in detail. To date 52 holes have been logged and sampled. The success of this program has encouraged Copper Reef's management to continue the drill program in 2009 with initially 30 holes planed once financing is arranged, to intersect the vein at the deeper levels of 75 m (Tier 5) and 100m (tier 6) vertical depth.
As reported in Copper Reef's September 25, 2008 release, 18 grab samples along the Gold Rock vein taken during a summer mapping program in 2007 gave values ranging from 0.14 oz Au/ton (4.80 g/t) to 5.37 oz Au/ton (184.08g/t) which are consistent with those reported by the Geological Survey of Canada in 1935. Stockwell (1935) reported gold assays of 14.86 g/t Au across 0.95m widths for approximately 17m along the vein. An adjoining section, approximately 52m long averaged 39.38 g/t across 0.36m (Heine, 2003 Manitoba Geological Survey).
Quality Control
The Company employs QA/QC protocol on all aspects of its analytical procedures. Core samples are sawn and one half of the HQ core is restored to the core boxes for future reference and one half sent for analysis. Samples of veining or mineralization are taken in approximately 50 cm intervals or less. Sample preparation and analytical work is conducted at TSL labs in Saskatoon, Saskatchewan utilizing fire assaying with a two assay ton charge, with an AA finish. In addition pulps of the samples are analysed using a multi-acid digest/ ICP-AES and AAS techniques for trace elements. Gold assays above 0.5 g/ t are then re-assayed by the screen metallic method where the entire sample of the sawn core sent for assay is pulverized and screened with a 150 mesh screen to remove the coarse gold and is then assayed separately by fire assay technique, the remaining pulverized core material that passes through the screen will be assayed by four separate two assay ton charges. The average of the 4 assays will be combined, on a weighted basis, with the assay of coarse gold that was captured by the screen to obtain an overall average grade. This method should give a high level of reliability in representing the contained gold in the core. The large size of core and the closely spaced holes should provide a reasonable sample size and spacing to represent the grade of the vein.
Commercially prepared standards representing 2 ranges of gold grades are inserted at intervals of 1 in 10 samples. A blank rock sample of granite is inserted every 20 samples. Stephen Masson M.Sc., P.Geo President of Copper Reef is the qualified person for the Company. He has reviewed the drill core and confirms the assay results.
On Behalf of the Board of Directors
"signed"
Robert N. Granger QC
Chairman
No securities regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are or may be considered forward-looking statements, such as estimates and statements that describe Copper Reef's future plans, objectives or goals, including words to the effect that Copper Reef or its management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. We seek safe harbour.
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