FendX Technologies Inc. press release
Copper Reef Expands Drill Program at Alberts Lake Gold
CSE - Canadian National Stock Exchange · Canada
(via Thenewswire.ca)
Copper Reef Mining Corp. has just completed the twinning of four earlier small diameter diamond drill holes on its 100-per-cent-owned Albert's Lake property, which comprises over 88 mining claims totaling 7,500 hectares. The board has decided to now expand the drill program by testing new areas along strike from known high grade intersections to the north. The hope is to expand the resource along a 500m strike length that remains to be drill tested Three of the twinned drill holes recently completed are out for assay and the fourth is currently being sawed for sampling.
The Albert's Lake deposit has been previously tested over a 500-metre strike length and to a depth of 400 metres and remains open in all directions. Values up to 125 grams per tonne were noted in drill core with the best intersection over all, assaying 10.89 g/t Au over nine metres at 225 metres vertical depth. Approximately 76 holes have been drilled into the zone to date. A historical non-NI 43-101-compliant reserve estimate of 400,000 tonnes at 7.3 g/t Au was reported by Granges Inc. in the 1980s. The shear zone which hosts the Albert's Lake gold zone (which is up to 25 m wide) lies along the contact between a gabbroic intrusion and felsic meta- volcanic rocks and dips at 70-80 degrees to the east. In 2010, the drill hole data were entered into Surpac Software and new sections were constructed to review the Albert Zone's drill holes. Gold mineralization occurs throughout the 25 m wide shear zone and the grade over the length of the hole was partly determined by the cut-off grade employed. Visible gold was noted in a number of drill sections in association with pyrite and minor chalcopyrite.
The following results are from the previous drill holes that were just recently twinned. Copper Reef has, however, increased the drill core diameter from BQ to HQ increasing the volume of each sample by approximately 3 times. With coarse gold occurring at Alberts Lake the greater sample size and the use of screen metallic assay method to capture all coarse gold during analysis should create a more accurate representation of the grade.
Drill Hole AL-61MetersAu(g/t)Ag(g/t) Average275.3-308.132.81.64.4 Includes286.8-295.38.53.87.2 Drill Hole AL-40 Average232.22-246.22147.513.8 Includes232.22-241.229.010.919.1 Drill Hole AL-57 Average178.34-204.1425.84.55.5 Includes178.34-190.1411.88.17.5 Drill Hole AL-72 Average211.63-238.0426.412.14.8 Includes223.54-227.544.05.04.5
After reviewing the new sections of the Albert's Lake deposit, Copper Reef has determined that the gold grade may be under-represented in the drill holes because of the nugget effect of coarse gold and the small sample taken from BQ-sized core. To test this concept, Copper Reef has twinned four holes in the Albert's Lake deposit using HQ-size core and then used a screen metallic assay method to recover all coarse gold from the split core. By increasing the sample size by a factor of three times and insuring all coarse gold from one-half the core is measured, the hope is this will be more representative of the true grade. Should this approach succeed in increasing the grade on the twinned holes, the drill program will be again increased to a point where a new NI 43-101 resource estimate can be calculated. Further, it may be possible, given the current price of gold, to expand the overall size of the deposit by lowering the cut-off grade since gold mineralization occurs generally throughout the shear zone and many gold intersections are determined only by what gold value cut-off is used in the particular drill section.
New Drilling
Currently Copper Reef is drilling a new area immediately north of the Alberts Lake Gold deposit at the 200 m vertical level where the nearest hole AL1 -16 reported 156.72 g /t gold over 2.12 m. There are no holes at this level to the north or in the down plunge direction . Two holes are planned for this area. The first drill hole (AL-11-111) in this area is currently in progress.
Management believes that with the large widths and high grades that are present at Alberts Lake, any expansion of the deposit can build tonnes quickly. With three former gold mines in the area currently looking at restarting, Alberts is well positioned to provide an important feed source to make the other operations more viable.
In addition, five drill holes are planned for the "Wally zone" a high grade but narrower parallel structure to the north and east of the Alberts Lake Zone.
We seek Safe Harbor.
Copper Reef Mining Corporation
"signed"
Stephen L. Masson M.Sc. P.Geo.
President CEO
ABOUT COPPER REEF MINING CORPORATION
The Corporation is a Canadian junior mineral exploration company with a specific focus on mineral properties in Northwest Manitoba and Northeast Saskatchewan, Canada. All of the Company's properties are currently at the exploration stage. The Company does not have any long-term debt, has assembled a portfolio of base metal and precious metal prospects, including strategic locations in the Provinces of Manitoba and Saskatchewan and has the funds to explore them.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or 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.
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