DRILLHOLE COS18359 RETURNS 62m WITH 0.47% COPPER MINERALISATION AT APPROXIMATELY 500m DEPTH BELOW GRANLIDEN HILL
Copperstone Resources AB ("Copperstone" or "the Company") is pleased to announce significant copper assay results from drillhole COS18359 in the Granliden Hill area. Details of the drillhole location, azimuth, angle and length are provided in the Technical Report - Update on 2018 Drilling Campaign published on the 17th May 2018.
62m of continuous chalcopyrite mineralisation intercept from 744-806m returning 0.47% Cu and 3.3g/t Ag, and containing a 10m zone from 752-762m returning 1.28% Cu and 9.2g/t Ag.
Drill hole COS18359
COS18359 was collared east of Granliden Hill and was drilled due west at -55 degrees dip to a length of 878m. From approximately 50m to the base of the drillhole fine- to mediumgrained altered quartz porphyry was intercepted with intercalated zones of pre-mineral micro-diorite, hydrothermal breccia and younger post-mineral intermediate dykes. Mineralisation consists exclusively of chalcopyrite with subordinate pyrrhotite, pyrite and arsenopyrite. Mineralisation styles are either stockwork-like veining over continuous zones, or discreet narrow veins. In some places veins are associated with micro-brecciation textures, associated with quartz and in general with little to no visual wall-rock alteration effect.
Note that all lengths quoted below are drilled intercept lengths and the true width of mineralisation is not known. In total three (3) zones of mineralisation were sampled in COS18359 as described below:
Zone 1 from 65m-109m (44m) contains a number of low grade chalcopyrite zones and three discreet chalcopyrite veins:
- 65-109m (44m): 0.17% Cu, 2.1g/t Ag
- Containing 65-67m (2.0m): 1.04% Cu, 7.5g/t Ag
- And 83-85m (2.0m): 0.90% Cu, 8.6g/t Ag and 0.1g/t Au
- And 107-109m (2.0m): 0.88% Cu, 14.9g/t Ag
Zone 2 from 559m-592.5m (33.5m) contains a number of low grade chalcopyrite veins and a single higher grade vein:
- 559-592.5m (33.5m): 0.14% Cu, 0.9g/t Ag
- Containing 571-573m (2.0m): 0.86% Cu, 6.4g/t Ag and 0.24g/t Au
Zone 3 from 744m-828m (84m) contains a continuous zone of chalcopyrite stockwork veining:
- 744-828m (84m): 0.37% Cu, 2.6g/t Ag
- Containing 744-806m (62m): 0.47% Cu, 3.3g/t Ag
- Containing 752-762m (10m): 1.28% Cu, 9.5g/t Ag
Chalcopyrite mineralisation found in COS18359 is similar in style to that found in historic drill holes from the Granliden Hill area. It is believed that the deeper intercept in COS18359 indicates that the extent of the system is significant in the vertical dimension, approximately 450-500m further below the known shallow intercepts (on average 150m vertical depth). At this stage there is no knowledge of the true width of the deeper mineralisation intercept. Chalcopyrite veining is hosted mainly in hydrothermally-altered quartz porphyry and also in micro-diorite (field description only).
Chalcopyrite mineralisation is apparently younger as it cross-cuts the host geology. The source of mineralisation is thus unknown but is tentatively suggested to have emanated from the east to south east, although these ideas need to be explored by further drilling. In relation to COS18358 drilled from the south it can be seen that individual veins of mineralisation are probably discontinuous so the bias of individual intercepts and widths of composited grade are largely dependent on the drillhole azimuth and dip relative to the overall trend of the mineralised zone.
Further exploration drilling is continuing to the east of the Granliden Hill area to find the possible causative source of the mineralising fluids and vapours. Given the extensive magmatic-hydrothermal nature of this system, it is believed that a discreet felsic stock(s) or dyke-like body might be in the vicinity of the Granliden Hill area emplaced along or close to the margin of the larger quartz porphyry body. This margin has been located with the NSAMT geophysical survey.
On a more general level the quartz porphyry body is extensive over the Copperstone property and is thought to represent a possible resurgent dome complex within a much broader caldera system. The quartz porphyry body does not appear to be typical of rhyolite flow dome complexes found in the Skellefte-field to the south of the property. Host rock geology to the east of the quartz porphyry complex consists of layered andesitic lava and subordinate arenite (pre-caldera) with an overlying sequence of siltstone, black shale and felsic pyroclastic strata (intra-caldera). Geology is also broken by a number of faults of unknown age and displacement.
Overall the geological architecture for this project is still evolving and through deep drill testing combined with careful application and interpretation of geophysical, geochemical, optical and mineralogical examinations Copperstone is rapidly unlocking the geological history and mineral potential of this property.
Core Assays and Quality Assurance / Quality Control
All drill core boxes were delivered by the Drill Contractor to the secure Copperstone Site Office 1km from the drill site. Before transport to Malå, preliminary inspection and logging is carried out by Copperstone personnel. Core is then logged in detail at the Copperstone Facility in Malå before zones for sampling are selected. Once sample zones are identified and ticketed core boxes are then collected for laboratory analysis.
Sample preparation including half-core sawing, crushing, splitting and pulverizing has been carried out at ALS Minerals Laboratories, an accredited laboratory based in Malå. Prepared 50g aliquot pulps are then couriered to their Analytical Laboratory in Ireland. Sample analysis is then 4-acid digestion followed by ICP finish (ME-MS61) for 49 elements, including Ag, Cu and Zn. All samples with greater than 10,000ppm (1%) Cu and / or Zn are re-run with 4-acid digestion and then ICP-AES finish (Cu-OG62 and Zn-OG62) with results reported in percentage. Gold values are determined with a 30g fire assay fusion with AAS finish (Au-AA23).
In total 156 samples each with a drill length of 2.0m were submitted as two separate batches for assay from COS18359. This represents approximately 38% of the NQ core in this drillhole. The certificated copper-gold standard reference samples used are OREAS 501C and OREAS 502C, as well as blanks and duplicate samples inserted at regular intervals in the sampling sequence in order to maintain Quality Control (accuracy and precision). A total of 21 qaqc samples (7 blanks, 7 standards and 7 duplicates) were submitted at a 1:20 frequency. All qaqc results reported by ALS are within acceptable limits for the two batches submitted for COS18359.
"This by far is the most significant drill intercept we have found from the 2017-2018 drill campaigns. This is a tremendous result in pursuit of the porphyry-style system we believe exists here. It is very encouraging that the mineralisation under and around Granliden Hill is extensive. A near continuous 62m of chalcopyrite containing 0.47% Cu and 3.3g/t Ag from 744-806m shows us that the deep system is there, as we expected. This copper mineralisation must be coming from an intrusive somewhere nearby to this drill hole and we are drilling now to try and find that source. Each new deep drill hole is generating brand new geological information on this exciting discovery quest. Our targeting is building steadily, our knowledge of the big geology picture is building steadily, and we hope in this summer to finally strike that causative source. " comments Chris McKnight CEO of Copperstone.
13 June 2018
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 13th June 2018 at 0800 CET.
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. The Company also owns the Tvistbogruvan K no. 1 (11ha) exploitation concession and the Såggården No.1 (199ha) exploration permit 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.
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.
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.
Copperstone Resources AB ("Copperstone" or "the Company") is pleased to announce that the Company has signed a 5-year 25 MSEK credit facility. In addition a non-binding term sheet regarding a convertible debt facility of 100 MSEK has been signed with a US-based fund. Upon the convertible debt facility becoming binding and the first tranche of 22.5 MSEK has been paid out, closing of the Viscaria acquisition is anticipated to occur shortly thereafter. In total, up to 125 MSEK will thereby be secured to finance the further development of New Copperstone including Viscaria.
The Board of Copperstone ("Copperstone" or "the Company") announces that Michael Mattsson takes over as CEO of Copperstone, as Chris McKnight steps down. As the company is growing, Copperstone will separate the roles of CEO and Exploration Manager. Ann Zetterberg Littorin will take over as Chairman of the Board, effective immediately.
COPPERSTONE CONFIRMS LARGE SCALE EXPLORATION TARGET POTENTIAL OF 150-210 MILLION TONNES AT 0.25-0.45% COPPER AT GRANLIDEN AND PROVIDES AN UPDATED MINERAL RESOURCE INVENTORY FOR THE PROPERTY
Copperstone Resources AB ("Copperstone" or "the Company") is pleased to announce that an Exploration Target potential of 150-210 million tonnes at a grade of 0.25-0.45% copper has been estimated by Micon International Co LTD (UK) ("Micon") for the Granliden area of the project. This potential is in line with recent guidance and is based on an independent analysis of exploration drilling results predominantly from the drill campaign carried out by the Company in 2018.
Idag den 27 november 2018 hölls extra bolagsstämma i Copperstone Resources AB (publ) ("Bolaget") i Hamilton Advokatbyrås lokaler på Hamngatan 27 i Stockholm. Nedan följer en sammanfattning av de beslut som fattades.
Copperstone Resources AB ("Copperstone") is pleased to announce that 99,95% of the shareholder votes represented at the Sunstone Metals Ltd ("Sunstone") Extra General Meeting today were in favour of the Viscaria transaction with Copperstone.
Copperstone Resources AB ("Copperstone" or "the Company") is pleased to announce the Interim Quarterly Report (Q318) for the Company. A brief summary of the report follows:
Financial results for the Group for July 1st to September 30th 2018:
- Result before taxes amounted to -955 (-962) KSEK.
- Earnings after tax per share were 0.0 (-0.0) SEK.
- The cash flow during the period was -5,428 (351) KSEK.
Financial results for the Group for Year to date as of September 30th 2018:
- Result before taxes amounted to 4,589 (-6,026) KSEK.
- Earnings after tax per share were 0.02 (-0.03) SEK.
- The profit for 2018 is due to the netting of receivable in NIO for shares and a convertible. The receivable was acquired by Copperstone at a discount to nominal value in 2016, generating a profit of 8.2 MSEK at its finalization before the listing of NIO at Nasdaq First North.
- The closing balance of cumulative capitalized expenditure for exploration amounted to 56,483 (35,694) KSEK.
- Total assets at the end of the period was 77,387 (50,760) KSEK.
- The cash flow during the period was -25,949 (1,606) KSEK.
- The liquidity at the end of the period was 2,337 (4,335) KSEK.
KALLELSE TILL EXTRA BOLAGSSTÄMMA I COPPERSTONE RESOURCES AB (PUBL)
Copperstone Resources AB ("Copperstone" or "the Company") announces that Stiftelsen Norrlandsfonden ("Norrlandsfonden") will convert 1.5 MSEK of the September 2015 tranche, into 6,250,000 B-shares in Copperstone at a conversion price of 0.24 SEK. The transaction will result in a strengthening of the financial net and balance sheet of Copperstone. The share capital of Copperstone will increase by 625,000 SEK to 24,860,376.10 SEK. The number of outstanding shares will increase to 248,603,761, corresponding to a dilution of 2.51% (of the total 5.92% indirect ownership in Copperstone that Norrlandsfonden currently holds).
The Board of Copperstone Resources AB ("Copperstone" or "the Company") is pleased to announce that it has entered into a Share Sale and Purchase Agreement ("SPA") with Sunstone Metals Ltd Australia ("Sunstone") regarding the acquisition of 100% of Avalon Minerals Viscaria AB ("Viscaria"), substantially in accordance with the Letter Of Intent signed and announced between the parties 8th August 2018.
Copperstone Resources AB ("Copperstone" or "the Company") is pleased to inform that the Swedish Government today has informed the Company about a decision to reject the objection to award the Company exploitation concession Eva k no. 1.
Copperstone Resources AB
Marknadsplats: First North
Interim Report Q3 2018
2019-02-21 Bokslutskommuniké 2018