news release
posted on
Apr 30, 2012 10:16PM
LA VERDE--Built On Solid Resources
Trading Symbol: CCY
VANCOUVER , April 30, 2012 /CNW/ - Catalyst Copper Corp. (the "Company" or "Catalyst") is pleased to announce results from the first five (5) diamond drill holes from its 2012 program at the La Verde copper porphyry project in Michoacán state, Mexico .
The 2012 exploration program is intended to complete all requirements (US$10 million in accumulated expenditures, 200 kilometers of Geophysics (IP) and 30,000 metres of diamond drilling) to earn a 60% interest in the La Verde Project, under its option Agreement with the Mexican subsidiary of Teck Resources Limited.
The released holes locations are indicated on the attached map (which includes historic and 2011 drill locations) and the significant results for these holes are included below.
TABLE 1. La Verde 2012 Assay Results
Drill Hole | From | To | Length | Cu% | Au g/t | Ag g/t | Mo% | Location | ||||||||||||||||||||||||
LV12-037 | 118.7 | 125.0 | 6.3 | 0.42 | 0.160 | 1.0 | 0.001 | East Hill | ||||||||||||||||||||||||
140.0 | 148.0 | 8.0 | 0.25 | 0.196 | 2.0 | 0.001 | ||||||||||||||||||||||||||
LV12-038 | 276.5 | 303.7 | 27.2 | 0.58 | 0.275 | 4.5 | 0.001 | East Hill | ||||||||||||||||||||||||
333.2 | 336.7 | 3.5 | 0.60 | 0.127 | 10.5 | 0.001 | ||||||||||||||||||||||||||
396.7 | 461.3 | 64.6 | 0.37 | 0.121 | 3.9 | 0.004 | ||||||||||||||||||||||||||
498.1 | 675.3 | 177.2 | 0.54 | 0.041 | 5.3 | 0.006 | ||||||||||||||||||||||||||
LV12-039 | 236.8 | 250.8 | 14.0 | 0.35 | 0.028 | 1.7 | 0.001 | East Hill | ||||||||||||||||||||||||
332.0 | 346.0 | 14.0 | 0.23 | 0.008 | 3.4 | 0.001 | ||||||||||||||||||||||||||
376.0 | 603.1 | 226.9 | 0.67 | 0.076 | 5.7 | 0.003 | ||||||||||||||||||||||||||
Incl. | 411.0 | 584.4 | 173.4 | 0.81 | 0.075 | 6.2 | 0.003 | |||||||||||||||||||||||||
661.6 | 673.4 | 11.8 | 0.93 | 0.009 | 6.1 | 0.009 | ||||||||||||||||||||||||||
LV12-040 | 69.3 | 74.9 | 5.6 | 1.66 | 0.009 | 3.8 | 0.001 | West Hill | ||||||||||||||||||||||||
181.9 | 216.0 | 34.1 | 0.86 | 0.003 | 1.7 | 0.001 | ||||||||||||||||||||||||||
231.2 | 236.7 | 5.5 | 0.83 | 0.001 | 3.1 | 0.001 | ||||||||||||||||||||||||||
364.6 | 372.4 | 7.8 | 1.48 | 0.006 | 1.8 | 0.001 | ||||||||||||||||||||||||||
LV12-041 | 69.0 | 76.5 | 7.5 | 0.42 | 0.011 | 2.7 | 0.007 | West Hill | ||||||||||||||||||||||||
93.0 | 106.0 | 13.0 | 0.60 | 0.011 | 2.1 | 0.003 | ||||||||||||||||||||||||||
185.0 | 193.0 | 8.0 | 1.32 | 0.005 | 6.9 | 0.002 | ||||||||||||||||||||||||||
223.5 | 227.3 | 3.8 | 0.58 | 0.005 | 3.7 | 0.001 | ||||||||||||||||||||||||||
249.6 | 259.0 | 9.4 | 0.27 | 0.005 | 1.4 | 0.003 | ||||||||||||||||||||||||||
284.5 | 311.4 | 26.9 | 0.29 | 0.012 | 1.4 | 0.002 | ||||||||||||||||||||||||||
337.3 | 408.0 | 70.7 | 0.86 | 0.003 | 2.8 | 0.001 | ||||||||||||||||||||||||||
419.0 | 438.0 | 19.0 | 1.95 | 0.003 | 5.4 | 0.001 | ||||||||||||||||||||||||||
461.6 | 477.5 | 15.9 | 0.61 | 0.003 | 2.0 | 0.001 | ||||||||||||||||||||||||||
487.0 | 496.0 | 9.0 | 1.90 | 0.180 | 5.4 | 0.001 | ||||||||||||||||||||||||||
533.6 | 539.0 | 5.4 | 0.64 | 0.001 | 1.6 | 0.001 | ||||||||||||||||||||||||||
549.0 | 553.7 | 4.7 | 0.61 | 0.001 | 1.3 | 0.001 | ||||||||||||||||||||||||||
605.2 | 640.1 | 34.9 | 0.60 | 0.002 | 1.2 | 0.001 |
The program is focused on upgrading Inferred Resource to Measured and Indicated status and expanding the mineralization associated with the two known open pitable copper deposits. Catalyst has to date completed 33,890 meters of drilling on the La Verde property, 152 kilometres of IP and has now spent approximately $9,000,000 . It is anticipated that Catalyst will have completed all option agreement requirements by late 3rd quarter of 2012 and thereby will earn a 60% interest in the La Verde deposit
Terry Hodson , Vice-President Exploration of Catalyst stated, "Work to date continues to define and expand known resources at the project. Results from the first holes of 2012 continue to grow the deposit."
Terry Hodson , P.Geo. is the qualified person as defined by National Instrument 43-101, and has reviewed the technical disclosure contained herein and accepts responsibility for such disclosure.