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Capstone Mining Corp.
Summary
| Project: | Cozamin | |
|---|---|---|
| Deposit: | Cozamin | |
| Location: | Mexico | |
| Commodities: | Copper-Lead-Zinc-Silver-Gold | |
| Date: | 6/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 5-6-2018: Capstone Mining Corp. announces a Resource Estimation report for its Cozamin deposit at the Cozamin project. Updated mineral resource and ore reserve estimate at the project. Vancouver, British Columbia - Capstone Mining Corp. (“Capstone” or the | |
| Resources: | (Resource, M+I): 12.992Mt @ 1.67% Cu, 43g/t Ag, 0.83% Zn, 0.16% Pb at Copper Zone | |
| CP/QP: | [Resources]: Garth Kirkham (Kirkham Geosystems Ltd.) | |
| ABSTRACT: | Vancouver, British Columbia - Capstone Mining Corp. (“Capstone” or the “Company”) (TSX: CS) today announced the results of an updated National Instrument 43-101 (“NI 43-101”) compliant Mineral Resource estimate for the Cozamin Mine in Zacatecas, Mexico (Table 1 below). Compared to the Mineral Resources as at December 31, 2017, this latest estimate converted or added an additional 115 thousand tonnes of copper in the Indicated category in the Mala Noche Footwall Zone (“MNFWZ”), reflecting all drilling for which assays have been received up to March 19, 2018. At a US$42 net smelter return (“NSR”) cut-off grade (“COG”), the Cozamin Mine’s total Measured and Indicated (“M&I”) copper Mineral Resources, including adjustments for mining to March 31, 2018, were 217 thousand tonnes of contained copper (Table 3 below). “We are extremely pleased with our recent drilling success in the MNFWZ at Cozamin,” said Brad Mercer, Senior Vice President of Exploration at Capstone. “This new resource estimate, the culmination of over a year of intensive drilling, nearly triples the ore tonnes and doubles the contained copper in the MNFWZ M&I classification.” “We remain optimistic about the extension of operations at Cozamin well into the future,” said Darren Pylot, President and CEO of Capstone. “The increasing copper resource creates the potential for a mine expansion and utilization of surplus mill capacity that is currently being partially filled using ore from the San Rafael zinc zone (Resource estimate in table 4 below). The additional 115 thousand tonnes of contained copper added to the M&I class in the MNFWZ will be targeted by mine engineering for potential conversion into mineral reserves in 2018, and Inferred resources will be targeted in 2018 and 2019 for a potential classification upgrade to M&I (Table 2 below). All resources in Table 2 will provide the basis for a materials handling study, kicking off in mid-2018, to evaluate potential infrastructure needs to leverage upon our drilling success.” Subsequent to this resource estimate a further 31 holes have been drilled in the MNFWZ and the zone remains open up dip and to the southeast, where we are continuing 40,000 metres of step-out and infill drilling this year on the Inferred class resource (Table 2 below), part of our US$7 million 2018 exploration program. Further drilling is anticipated in 2019. | |
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