COPPERSTONE RESOURCES: Copper-gold porphyry-style mineralization at Svartliden.
Copperstone Resources AB (below ”Copperstone” or ”the Company”) announced the discovery of a copper-gold porphyry-style mineralsation of the southern part of the Copperstone project at Svartliden/Eva on March 17th. This is an update of that announcement.
Based on a predictive hypothesis for targeting blind porphyry-style Cu-Au mineralization at Svartliden, the Company is very excited to announce that the first deep drill hole has indeed encountered a significant intercept of chalcopyrite-arsenopyrite-bornite mineralization over a 90m length from 720-810m downhole. The true with of the mineralization is not known at present. Prior to the intercept, the drill hole has also encountered thick phyllic alteration with stronger pyrite halos with depth, thus complimenting the large alteration model identified in recent studies. The drill hole is at 887m and continues to encounter veinlets of copper mineralization within a possible causative felsic stock. A more detailed description including pictures can be found in the appendix and on www.copperstone.se.
All indications are that the main column of mineralization may lie to the west of this drill hole trace. Beyond the mineralized zone (MMZ in the appendix), obvious quartz-feldspar porphyry has been found, and this may be the causative stock.
"In my opinion, this is the most exciting exploration play of my career. The geological architecture of this geographical region suggests good prospectivity for discovery of new porphyry-style cu-au hydrothermal systems. Our model works, it was a big ask, and no doubt we have discovered something very exciting. New insights and shear determination have yielded the beginnings of a new chapter in the history of mineral exploration in Sweden. There is little else on this scale for greenfield exploration in the region." Says lead project geologist Chris McKnight.
“This is very satisfying and most likely a historic even in Swedish exploration. We have with perseverance and extensive support from shareholders and stakeholders achieved something remarkable: to discover what we believe is a new geological system in the vicinity of the Skellefte field which, in time, can result in a new big mining area. Now continued drilling, assaying of valuable metals such a copper, zinc, silver and gold, evaluation and further planning of upcoming work will follow. As we have verified the hypothesis at Svartliden, the northern part of the project, Granliden, which is based on available information from a large amount of drill holes and which shows the same characteristica, will be investigated from the same angle. Based on all available information, we are considering postponing the application work for an exploitation concession and Granliden in favour of investigating the area further We will return with more information as soon as we have verified further information.” says Copperstone CEO Per Storm in a comment.
For further information, please contact Per Storm, CEO Copperstone, +46 705 94 90 24, e-mail: per.storm@copperstone.se or refer to Copperstone Resources webpage: www.copperstone.se.
This press release contains insider information which Copperstone Resources AB is obliged to publish according to the EU market abuse regulation (MAR). The information was delivered by the above mentioned contact for publishing March 21st at 0915 CET.
Copperstone Resources AB (publ) is a mining exploration company focusing on the Copperstone project in the vicinity of the Skellefte field. This project has the potential to become one of the biggest base- and precious metal deposits in the Nordic Region.
Copperstone Resources has eight exploration tenements covering approx. 9260 acres and two mining concessions and one applied concession covering a total of 82 acres.
This press release have been revised and approved by the qualified person of the Company, Thomas Lindholm M Sc,
The share (COPP B) of the Company is traded on Nasdaq First North Stockholm with G&W Fondkommission as the Certified Adviser.
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