Getty Copper Inc. press release
GETTY ANNOUNCES TITAN 24 DC/IP/MT SURVEY RESULTS 12 MAJOR GEOPHYSICAL TARGETS IDENTIFIED
TSXV - TSX Venture Exchange · Copper · Molybdenum · Gold · Canada
Mar. 7, 2011 (Canada NewsWire Group) --
Trading Symbol TSX V: GTC
VANCOUVER, March 7 /CNW/ - Getty Copper Inc. (TSX-V: "GTC") ("Getty") is pleased to announce that its recently conducted Titan 24 DC/IP Geophysical Survey by Quantec Geoscience Ltd. has successfully identified at least 39 geophysical anomalies of which 12 can be considered high priority drill targets. According to Quantec, in summary, "anomaly priorities are based on a combination of depth below surface, size of the chargeability anomaly, correlation between conductors with chargeability highs and trust in an anomaly (i.e. the anomaly can be followed over several lines and the HS-chargeability model shows a similar shaped anomaly). The number of the high priority targets is based on occurrences on each line."
The Titan -24 DC/IP/MT geophysical survey was conducted over the Getty Copper Highland Valley property between November 20thand December 13thof 2010. A total of 12 lines of data were collected (23.2 line-km of direct current induced polarization ("DC/IP") and 19.2 line-km Magnetotelluric (MT) data with a station spacing of 100 m. The survey geometry for the DC/IP component was a pole-dipole geometry. The line spacing was 250 m. and the lines were located in staggered fashion over the Getty North Deposit, the Getty South Deposit and the Getty West Zone, which is 1.4 km to the southwest of the Getty North Deposit.
The objective of the survey was to further delineate the geophysical signatures of the Getty North and Getty South Deposits, and the Getty West Zone, as well as identify other anomalies and features of interest. The survey covered only a small percentage of the total Getty property surface area.
The survey confirmed by correlation with the past drill results the location of Getty North, and South Deposits, and revealed a large anomaly southwest of the Getty North Deposit named the Getty West anomaly. Overall data quality was high. Several NNE-SSW striking faults were identified as narrow conductive features in both the DC and MT models, as well as breaks in the chargeability models. The survey produced an excellent correlation between mineralization shown in the drill holes targeting the Getty North and South deposits and the location of anomalies IP-07, IP-08 and IP-01 respectively.
Summary of Survey Results:
Getty North Deposit Getty South Deposit
Getty West Zone Summary
Mr. Doug Wood M.Sc. Licensed Professional Geologist is the Qualified Person who has read and approved the contents of this release.
Further to the news release of Dec 15, 2010 Getty will be issuing 1.4 million shares to Effisolar with a deemed value of $0.30 as Effisolar paid for the survey. Effisolar will thereupon cease to have any further interest in the Getty Properties.
Dr. Corby Anderson, CEO commented "We are pleased with the results of this survey because they are both highly confirmative of the two principal known deposits and also provide drill targets which could potentially expand the resources significantly. These targets lie both in and around the known deposits but also in the Getty West where we have had some interesting drill results in a few holes but no good view of a geophysical signature. Part of the drilling plans we are formulating will test a number of these priority targets."
About Getty Copper Inc. Getty is a Vancouver based company focussing efforts on advancing its 220 square kilometre (85 square miles) copper property which is immediately adjacent to Teck's Highland Valley copper mine. Getty recently filed a 43-101 compliant Pre-feasibility Study over the two known copper deposits, on the Getty property which is situated immediately adjacent to one of the world's largest open pit copper mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Corby G. Anderson QP CEng FIMMM FIChemE
This release includes certain statements that may be deemed "forward-looking statements" in connection with the likelihood of completion of a private placement. Any statement about a future event is inherently uncertain and completion of any financing is subject to a number of conditions including regulatory and the state of capital markets. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.
_The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release_
Dr. Corby G. Anderson QP CEng FIMMM FIChemE GETTY COPPER INC. Phone: 604-931-3231 Fax: 604-931-2814