Copper Standard confirms porphyry copper-gold system from Surface at Colpayoc, Peru

Copper Standard Resources Inc. [CSE-CSR] reported results from the first 10 holes of drilling at the Colpayoc copper-gold exploration project in the Yanacocha Mining District in Cajamarca, Peru. The company has completed 1,926.1 metres (6,319 feet) of core drilling confirming the presence of a porphyry copper-gold system and verifying and expanding the oxide and mixed oxide gold mineralization in the Daylight Porphyry target, one of four targets on the property. Drilling intersected a series of nested porphyry intrusions carrying variable amounts of gold and copper. Significant drill results which may contribute to increasing the oxide gold resource include:

DH COLP24 – 01: 109.0 metres (357 feet) at 0.76 g/t Au and 0.13% Cu from surface. DH COLP24 – 03: 8.5 metres (27 feet) at 5.11 g/t Au from 121.7 metres (399 feet).

DH COLP24 – 07A: 200.1 metres (656 feet) at 0.52 g/t Au from surface to End of Hole, including 118.0 metres (387 feet) at 0.68 g/t Au and 0.11% Cu from surface.

DH COLP24 – 08: 138.0 metres (452 feet) at 0.34 g/t Au from surface to End of Hole, including: 44.0 metres (144 feet) at 0.54 g/t Au from 7.0 metres (22 feet); and DH COLP24 – 09: 118.8 metres (389 feet) at 0.46 g/t Au from surface to End of Hole.

Drill holes COLP24 01, 07, and 07A intersected broad zones of mineralization, expanding the mineralized zone at depth and demonstrating that the system remains open along trend to the south towards the Montura target, and at depth. Drill hole COLP24 07A was mineralized along its entire length. Drill holes COLP24 08 and 09 were drilled on the western side of the Daylight Porphyry target and expanded the known mineralization and showed that the western side of the resource is open to the west, north, and south. Drill holes COLP24 – 02, 03, 05, and 06 were drilled on the east side of the resource and show limited expansion but mineralization remains open to the north towards the Crater target, west, and south. The laboratory turnaround of drill-hole assays has been significantly longer than usual which made it difficult for the company to plan its additional drill-hole locations. As a result, the company’s Phase I drilling program has been paused while the company prepares for additional geophysical surveys discussed in more detail below.

The copper and gold mineralization occurs within three porphyry intrusions which confirms the potential for larger primary copper-gold porphyry deposits, particularly in the untested targets of Montura, Crater, and Rayo Grande.

Andy Swarthout, Chairman, commented, “The Phase I drilling advanced the expansion of the oxide gold mineralization at the Daylight target and has provided strong support that primary copper-gold porphyry systems underlie the oxide gold mineralization. To date, the presence of multiple intrusive phases, mineralized hydrothermal breccias, and intense quartz-sulfide stockwork veining indicates that the multiple, untested targets have excellent potential for both the discovery of additional oxide gold and large porphyry copper-gold deposits within our mineral concessions. We look forward to the IP survey results which we expect will provide more certainty for targeting our proposed Phase II drilling program.”

Copper Standard Resources is a resource-stage mining company with a focus on copper and gold, with an option to acquire 100% of the Colpayoc Property in Peru. Colpayoc has significant, untested potential for supergene and porphyry copper-gold mineralization at depth, beneath drill holes bottoming in oxide gold-copper mineralization. Colpayoc is largely untested with limited drilling and is similar to many of the world class porphyry copper-gold deposits within the prolific Yanacocha District.