TRX Gold Corporation press release
Copper Reef Resumes Drilling at its 100% Owned Hanson Property
TSX - Toronto Stock Exchange · Gold · Canada
Feb. 17, 2011 (TheNewswire.ca) --
Copper Reef Mining Corporation, Flin Flon, MB (CNSX: CZC)(the "Company") is pleased to announce it has resumed drilling on its 100% owned Hanson Lake Property. The property is the site of the former Hanson Lake Mine which produced 147,000 tonnes of 10% zinc, 5.8% lead, 0.5% copper and 137 g/t silver. The target currently being drilled is believed to be the folded equivalent of the mine horizon near the western boundary of the property. The company is following up on 10 holes drilled in 2010 along a 700 m VTEM airborne electromagnetic anomaly where copper-zinc-silver mineralization has been intersected in every hole with values up to 2.01% copper, 0.34% zinc and 19.2 g/t silver over 3.26 m reported from drill hole HCR-10-1 and 1.0% copper, 0.30% zinc and 10.0 g/t silver in drill hole HCR-10-7. Drill holes HCR-10-2 to HCR-10-6 were not drilled on this horizon. The three remaining drill holes from last fall's program, that were postponed until after freeze up, are currently being drilled. These are at the southern end of the 700m long VTEM geophysical anomaly where down hole geophysical surveys indicate two conductive horizons (the extension of two copper-zinc mineralized conductive sheets intersected to date). One moderately deeper hole (HCR-10-12), drilled below HCR-10-1 and 7, intersected 10.6 m of 0.5% copper, 1.09% zinc and 8.3 g/t silver within a wider zone of copper-zinc stringer mineralization.
Down hole geophysics modelled to date indicate two large conductive sheets dipping east towards the mine horizon. The most western sheet appears stronger at depth and is very continuous, whereas the eastern parallel anomaly appears to plunge to the south. The most southern hole, HCR-10-15, intersected 3.17% copper, 0.06% Zinc and 23.2 g silver over 0.55 m along the eastern anomaly, and 1.5% copper, 0.40% zinc and 17.9 g/t silver over 1.8 m along the western anomaly. The mineralization intersected in HCR-10-15, like mineralized intercepts from all the other holes, is enveloped by widespread low grade copper- zinc stringers in a strongly altered package of felsic volcanic fragmental units and tuffaceous sediments. Drill hole HCR-10-16 is currently being drilled 100 m south of HCR-10-15.
After completion of these three holes, down hole electromagnetic data from all 13 holes will be modelled and followed up by deeper drilling along this mineralized horizon. A total of 11 holes are planned and permits for drilling are in place.
ABOUT COPPER REEF MINING CORPORATION (CNQ:CZC)
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 has no long-term debt and has assembled a portfolio of base metal and precious metal prospects, including strategic locations in the Provinces of Manitoba and Saskatchewan.
Copper Reef Mining Corporation
"signed"
Stephen L. Masson M.Sc. P.Geo.
President & CEO
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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