Copperstone Resources: geophysical survey report

Copperstone Resources AB ("Copperstone" or "the Company") is pleased to announce favourable results for an extensive geophysical survey recently carried out on the porphyry copper exploration target project in Norrbotten County, northern Sweden. Fieldwork commenced on the 21st September 2017 and has included both a ground magnetic survey and a Natural-source Audio-frequency Magnetotellurics (NSAMT) survey. The objective of this integrated study was to utilize the two geophysical survey techniques to aid in the identification, mapping and interpretation of geology, alteration zonation vector patterns of the proposed porphyry copper model, and to provide targets locations for further core drilling.

n general, the application of combined geophysical surveys has enabled the alteration styles as seen from a large drill dataset to be resolved into halo vectors that indicate a likely source of the system (Target A).  The genetic model for a porphyry copper mineralisation system present at the property has been significantly improved, and now deep core drilling is required to test out this model.

"We are very pleased that the 3D modelling of the NSAMT and magnetic surveys has helped to identify the key zonation patterns of our exciting porphyry copper target. During these past months our understanding of the local geology and mineralisation potential has increased significantly. Finding the advanced argillic alteration zone to the east and the deeper magnetic body to the west has increased our belief that the heart of the system remains blind, starting somewhere around 250-300m under the Granliden Hill area. No drill holes have ever penetrated deep into this target area, so drill testing out Target A is now a high priority" comments Chris McKnight, CEO for Copperstone.

12 December 2017

The detailed report is attached.

For further information, please contact Chris McKnight (CEO) at +46(0)580-88890, or info@copperstone.se or refer to Copperstone webpage: www.copperstone.se.

This press release contains insider information which Copperstone Resources AB (publ) is obliged to publish according to the EU market abuse regulation (MAR). The information was delivered by the above mentioned contact for publishing December 12, 2017 at 0800 CET.

About

Copperstone Resources AB is a public company trading as COPP B on NASDAQ First North (Stockholm). The Certified Adviser is Augment Partners AB. The Company is focused on base and precious metal exploration in the vicinity of the internationally-recognized mining region of the Skellefte-field in northern Sweden.  The Copperstone project is situated on four contiguous exploration permits in Norrbotten County (Sandberget 100 (8074ha), Sandberget 200 (19ha), Sandberget 300 (19ha) and Svartliden 1001 (444ha). In addition the Company owns one exploitation concession within the same area, namely Svartliden k no. 1 (36ha) and an approved application for Eva k no. 1 (34ha) subject to an objection period.  The Company also owns the Tvistbogruvan k no. 1 (11ha) exploitation concession in the Bergslagen mining region of central Sweden.  Quoted surface areas are approximate to the nearest hectare. All exploration permits and exploitation concessions are 100% owned, either directly or through a subsidiary.

Qualified Person

All information in this press release has been reviewed and approved for publication by the appointed independent Qualified Person Mr Thomas Lindholm (M.Sc. Mining Engineering) of Geovista AB.  Mr Lindholm is a registered Member of the Fennoscandian Review Board and has in excess of 35 years' experience in mineral exploration in Sweden and abroad and is a Qualified Person under the Nasdaq First North Stockholm rules.  Mr Lindholm consents to the inclusion of the information in the form and context in which it appears.

Forward-looking Statement

News releases, presentations and public commentary made by the Company, and its Officers, may contain certain statements and expressions of belief, expectation or opinion which are forward-looking statements, and which relate, inter alia, to interpretations of exploration results to date and the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's Directors. Such forward-looking and interpretative statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such interpretations and forward-looking statements. Accordingly, the reader should not rely on any interpretations or forward-looking statements; and save as required by the exchange rules of NASDAQ First North (Stockholm) for listed companies or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may re-interpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances.

Första fasen om 8.000m kärnborrning på Viscaria snart avklarad; temporär paus

Styrelsen i Copperstone Resources AB ("Copperstone" eller "Bolaget") har idag, efter 7.580 meter och åtta månaders framgångsrikt samarbete med Kati Oy som leverantör i Viscaria, beslutat att ta en temporär paus i kärnborrningsprogrammet. Kontraktet omfattade initialt just 8.000m, vilket i det närmaste kommer att ha uppnåtts efter det att VDD0215 avslutas. Avsikten att utöka till 22.000 meter över de kommande 24 månaderna ligger fast och tack vare det överenskomna och nära föreliggande underhållsarbetet av Katis borrigg, kommer Copperstone härutöver inte att ha några extrakostnader till följd av beslutet.



Riktad kontantemission om 2,4 MSEK

Copperstones styrelse har beslutat att stärka Bolagets balansräkning med 2,4 MSEK genom en riktad emission. Styrelsen använder bemyndigandet från ordinarie bolagsstämma 2019. Bolaget blev kontaktat av en långivare som uttryckte sitt intresse av att konvertera del av skuld till eget kapital. Bolaget beslöt då att även inkludera en strategisk investerare till denna investeringsrunda, vilken adderar till vår redan solida balansräkning.


HÖGA KOPPARHALTER PÅTRÄFFAT VID VISCARIA

I den pågående borrkampanjen fortsätter Copperstone på Viscarias D-zon efter mycket uppmuntrande resultat. Bolaget har påträffat mycket långa borrhålsskärningar med koppar i järnsten, inkluderande (VDD0210) 16,5m @ 2,3% Cu och (VDD0211) 4,9m @ 1,3% Cu, båda utanför befintlig mineralresurs


Financial results for the Group for Year to date January 1 - December 31, 2019

  • The closing balance of cumulative capitalized exploration assets amounted to 303,438 (59,212) KSEK, corresponding to an increase of 412%.
  • Total shareholders' equity was 264,317 (65,412) KSEK, corresponding to an increase of 304%.
  • Total assets at the end of the period was 333,291 (74,681) KSEK, corresponding to an increase of 346%.
  • The cash at hand at the end of the period was 19,098 (1,385) KSEK.
  • Result of the period amounted to -14,552 (-459) KSEK, to significant extent due to the intensified project development and to one-offs regarding the Viscaria acquisition and the rights issue. The corresponding period included a capital gain on NIO convertible of 8.2 MSEK.
  • Result of the period per share was -0.03 (-0.00) SEK.
  • The cash flow during the period was 17,713 (-26,901) KSEK.


Rekrytering av Exploration Manager

Jari Juurela, Boliden Kylylahtis Geologichef, ursprungligen från gruvorten Outokumpu i Finland, har anställts såsom Copperstones Exploration Manager (Prospekteringschef).



Riktad kontantemission om 13,5 MSEK; Jörgen Olsson nominerad till ordförande

Copperstones styrelse har idag beslutat stärka Bolagets kassaposition med 13,5 MSEK genom en riktad  emission till en handfull strategiska långsiktiga svenska investerare, genom användande av bemyndigandet från ordinarie bolagsstämma 2019. Valberedningen i Copperstone (bestående av de tre största ägarna jämte ordförande) har beslutat att föreslå Copperstones styrelse och ordinarie bolagsstämma 2020 att utse Jörgen Olsson till ny ordförande i Copperstone.


BUSINESS REVIEW - JANUARY TO SEPTEMBER 2019

Copperstone Resources AB ("Copperstone" or "the Company") is pleased to announce a Business Review (Q3 2019) for the Company.


Följ oss

Om beQuoted

beQuoted publicerar nyheter, analyser och pressmeddelanden för investerare och journalister. Viktiga företagshändelser bevakas av vår egen nyhetsredaktion och vidaredistribueras i ledande finansiella medier.

Vi uppdaterar även nyhetsrum, Investor Relations och IR-webbplatser för företag som vill utveckla sina relationer med finansmarknaden.

Kontakta oss

beQuoted AB
Sturegatan 32
114 36 Stockholm

08-692 21 90
Kontaktformulär