COPPER ONE BEGINS DRILLING AT LONE MOUNTAIN PORPHYRY COPPER PROJECT - NEW MEXICO - MarketWatch (press release)
Sep 01, 2011 (TheNewswire.ca via COMTEX) -- (via Thenewswire.ca)
Vancouver, BC, September 1, 2011 - Copper One Inc. , is pleased to announce the beginning of an initial 5,000 meter core angle diamond drilling program on its 100% owned Lone Mountain project located near Silver City in Grant County, New Mexico, USA. The Lone Mountain project lies halfway between Freeport-McMoRan's Tyrone and Chino operating copper mines.
This first phase of diamond drilling is designed to define the lateral extent of the near surface, copper oxide mineralization that was previously identified by historic drilling to over 300 meters depth. The current program is focused on understanding the array of oxidized and brecciated structures that had been previously explored almost exclusively by vertical drilling. Subsequent drill phases, subject to results, will consist of up to 70,000 meters of additional drilling in order to establish a 43-101 compliant resource estimate of the copper oxide zone and to test skarn copper targets below 300 meters.
Copper One has received the exploration drilling permit from the Mining and Minerals Division of New Mexico's Energy, Minerals and Natural Resources Department. This permit establishes guidelines and procedures for Copper One to perform up to 528 holes from up to 176 drill sites. Copper One constructed the nature of the operations, with Golder & Associates' assistance, so the Company has considerable drilling location and directional flexibility to optimize drilling geometry for targeting copper mineralization as the program progresses.
Copper One has provided the state of New Mexico all necessary financial assurance money to cover operation and plugging of all drill holes, drill site and access earthwork recontouring and final total program reclamation including reseeding of the grassland ecosystem.
About Copper One Inc.
Copper One is focused on developing high-value copper deposits in leading mining jurisdictions. The Company is led by a diverse team of explorers, developers and operators with major company experience and a clear understanding of the business of mining. Copper One also holds a significant portfolio of copper properties in two stable, prolific world mining regions. The newest addition to the portfolio is the Riviere Dore Cu-Ni Project, Val d'Or District in Quebec. Copper One has six properties in the Arizona and New Mexico copper mining districts, including the Lone Mountain copper oxide project.
For more information about Copper One Inc., please visit: www.copperone.com .
On behalf of the board of directors of Copper One Inc.,
"Benoit Moreau"
Benoit Moreau
CEO
FOR MORE INFORMATION, PLEASE CONTACT:
Leo Karabelas leo@frontlineir.com (416) 543-3120
Robert Orr rorr@copperone.com (604) 697-6259
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the company's development of mineral exploration projects. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Copper One Inc. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2011 Thenewswire.ca - All rights reserved.
01 Sep, 2011--
Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFNiOYNHlRFf-ltlIQn9NbCyXDNFA&url=http://www.marketwatch.com/story/copper-one-begins-drilling-at-lone-mountain-porphyry-copper-project-new-mexico-2011-09-01
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