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Copperbank Resources Corp.
Summary
| Project: | Pyramid | |
|---|---|---|
| Deposit: | Main Zone, West Zone | |
| Location: | United States | |
| Commodities: | Copper-Molybdenum-Gold | |
| Date: | 2/2/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-2-2018: Copperbank Resources Corp. announces a Resource Estimation report for its Main Zone, West Zone deposit at the Pyramid project. Mineral Resource updated for the project. Vancouver, Canada – February 2, 2018 - CopperBank Resources Corp. (“CopperBa | |
| Resources: | (Resource, Inf.): 153.4Mt @ 0.37% Cu, 0.021% Mo, 0.09g/t Au at project | |
| CP/QP: | [Overall Report]: Gilles Arsenau (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | Vancouver, Canada – February 2, 2018 - CopperBank Resources Corp. (“CopperBank” or the “Company”) (CSE:CBK) is pleased to announce that SRK Consulting (“SRK”), an independent consulting firm, has delivered a NI 43-101 compliant report containing an updated mineral resource estimate for the Company’s 100% controlled Pyramid Project. The Inferred Mineral Resource is being updated to incorporate the 3,660 meters drilled by CopperBank during 2017, with the drilling done by previous operators. A total of 10,600 meters has now been drilled at the Project. The updated resource estimate, using a 0.2% copper cut-off, is 153.4 million tonnes at 0.37% copper, 0.02% molybdenum and 0.09 g/t gold. This resource estimation does not take into account the molybdenum or gold values due to the fluctuation of their prices and unknown recovery as no metallurgical test work has been completed. To compare the results of the 2017 resource estimate with the 2013 resource, SRK re-evaluated the 2017 resource model using the 2013 parameters. The comparison showed that the two models reported very similar grades. The 2017 model improves the confidence in the quality of the resource and reports about 25 to 30 percent more tonnage if the same parameters are applied. The additional tonnage is a reflection of the additional drilling by CopperBank which resulted in a reinterpretation of the mineralized domains and in the infill of previously undrilled volumes. | |
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