Monster Copper starts drilling on Carapana
Monster Copper Corp (C:MNS)
Shares Issued 33,558,348
Last Close 4/10/2007 $1.58
Wednesday April 11 2007 - News Release
Mr. Michael Downes reports
MONSTER COPPER CORPORATION: DRILLING COMMENCED ON CARAPANA NICKEL LATERITE TARGET, CARAJAS, BRAZIL
Monster Copper Corp. has started drilling on the Carapana nickel laterite target, located in the Carajas mineral province of northern Brazil. Work on the Carapana property forms part of an option with Xstrata Copper, which includes continuing IOCG copper-gold exploration by Monster Copper.
A reconnaissance program of 20 vertical drill holes is aimed at testing nickel-cobalt concentrations in the near-surface lateritic profile over a zone with an average width of 600 metres and a total strike length of seven kilometres. Field evidence suggests the thickness of the laterite at Carapana will be on the order of 10 metres. Holes will be drilled using an auger drill rig, which has been successfully used by Xstrata Nickel to investigate nickel laterite targets in the Araguaia project in southern Para state. Drill spacing at Carapana varies from 200 metres in the western area to 400 metres in the east.
The target on the Carapana property is situated on a laterite plateau, interpreted to be underlain by mafic to ultramafic rocks of the Catete suite. The target is characterized by a high magnetic signature coincident with low radiometric signature derived from data collected in an airborne survey completed by Monster Copper in 2004. In addition, soil geochemical data over the target reveals highly anomalous nickel (200 to 1,815 parts per million in a background of under 50 ppm), cobalt (100 to 477 ppm in a background of under 20 ppm) and chromium values (500 to 4,540 ppm in a background of under 250 ppm). These geophysical and geochemical features are characteristic of nickel-bearing ultramafic rocks in the Carajas.
The Carajas mineral province currently hosts three nickel laterite deposits, namely Onca-Puma, Jacare and Vermelho. Monster Copper's Carapana target is 50 kilometres from the Onca-Puma deposit and within the same belt of rocks, called the Catete suite, a Paleoproterozoic sequence of mafic to ultramafic intrusive rocks. The Onca-Puma deposit is reported as containing 110 million tonnes grading 1.72 per cent Ni in saprolitic ore and 314 million tonnes grading 0.75 per cent Ni in limonitic ore, and according to CVRD, is scheduled to commence production in 2008 (source: CVRD website). The Jacare deposit has a reported resource of 430 million tonnes grading 1.33 per cent Ni and is also within the Catete suite (source: Anglo American website). The Niquel do Vermelho deposit contains 290 million tonnes of proven and probable limonitic ore at 0.8 per cent Ni, with minor cobalt and copper (source: CVRD website).
Further to Monster Copper's March 8, 2007, news in Stockwatch, Monster Copper and Mega Uranium Ltd. are proceeding with the preparation of documentation for a May 30, 2007, Monster Copper shareholder meeting to approve the amalgamation with Mega Uranium.
The qualified person, as defined by National Instrument 43-101, responsible for review of this news release, is Dr. Tom Setterfield, PGeo, vice-president of exploration, Monster Copper.
© 2007 Canjex Publishing Ltd. |
