TRX Gold Corporation press release
Copper Reef Releases High Grade Gold Intersections
TSX - Toronto Stock Exchange · Gold · Canada
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(via Thenewswire.ca)
Copper Reef Mining Corporation is pleased to announce the results from this spring's drilling of the Parres vein on its Otter Lake Property that straddles highway 10 and is located approximately 30 km south of Flin Flon, Manitoba. A total of eight HQ sized drill holes holes were drilled into the vein. The intersections confirmed the high grade gold and silver nature of the veins from surface sampling. Two steeply dipping drill holes, drilled by a previous operator, had failed to intersect the vein as did two of Copper Reef's holes. We understand that this was due to a change in the dip of the vein, from steeply south to steeply north. Reported below are the assay results. True width is approximately 80-85% of width intersected.
From(m)To(m)Interval(m)Au(g/t)Ag(g/t)
PAR-13-01 Average 17.95 20.15 2.2 0.67 2.2 Includes 17.95 18.75 0.8 1.28 3.2 PAR-13-02 Failed to intersect vein due to dip PAR-10-03 Average 14.30 14.85 0.55 8.92 24.3 Includes 14.56 14.85 0.29 16.7 45.2 PAR-13-04 Failed to intersect vein due to dip PAR-13-05 Average 8.94 9.59 0.65 5.50 25.0 Includes 9.39 9.59 0.2 16.91 75.5 PAR-13-06 Average 13.03 13.28 0.25 12.06 56.6 PAR-13-07 Average 8.8 9.5 0.7 4.49 29.4 Includes 9.3 9.5 0.2 15.63 102.8 PAR-13-08 Average 8.12 9.08 0.96 7.00 55.9 Includes 8.12 8.58 0.46 14.54 116.1
Discussion
Amodest program was initiated last year with a prospecting and mapping survey to assess the Otter Lake Property, one of Copper Reef`s three main gold properties and the least tested. This program was expanded this winter with a larger grid and with geophysical surveys along the main structures and extensions of known veins. With a modest budget this spring, the Company followed up the high grade sampling results of the Parres vein from last summer to test the vein with drilling. The Parres vein, which averaged one meter wide, true width was only mineralized along its southern sheared flank (pay zone) over a width of 0.2 to 0.75 m. Although grades were very high in gold and silver, the widths remain narrow at this particular site. Four other known gold structures exist on the property as well as a number of prospects and recently discovered showings. Presently Copper Reef in in the middle of this summer`s prospecting and mapping program to ground truth anomalies and structures outlined by this past winter`s geophysical surveys. This should develop new targets and hopefully a discovery. If not, Copper Reef will return to its North Star-Gold Rock property where we have higher grade and better widths to expand upon.
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 the other half sent out 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.
Commercially prepared standards representing 3 ranges of gold grades are inserted at intervals of 1 in 10 samples. A blank standard 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.
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.
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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