Copper Hill Corporation
Mailing Address: 24 Vancouver St., St. John's, NF A1A 2R6
Office: Suite 303, 49-55 Elizabeth Ave., St. John's, NF A1A 1W8. 709-739-4780; 709-739-4785 (fax)
RELEASE 99-03
OCTOBER 15, 1999
STOCK SYMBOL: CUHL (CDN)
SHARES OUTSTANDING:16,647,140
(FULLY DILUTED: 17,751,140)
FOR: COPPER HILL CORPORATION ("COPPER HILL")
RE: POLYMETALLIC Zn-RICH SULPHIDES: DISCOVERY OF A SECOND MINERALIZED SETTING AT THE POWDERHORN LAKE PROPERTY
As reported in our Press Release of August 17th, 1999, the primary focus of Copper Hill on its recently acquired Powderhorn Property will be the identification of an exploitable deposit of polymetallic sulphides rich in Ni-Co-Cu with PGE credits.
The 1999 excavation of a logging road 1 km north of the Lake Zone resulted in the exposure of property-wide occurrences of polymetallic sulphides (containing Zn, Cu, Pb, Au and Ag) which represents a second mineralized setting within the Powderhorn Property. The surface mineralization appears to be pervasive, homogeneous and ore-grade.
The following are some assay values obtained:
1998 Lake Zone: Assays from samples taken over 1.6 km of shoreline bedrock and sub-crop:
Sample Zn % Cu % Pb % Au g/t Ag g/t
LZ-1 4.5 2.14 0.04 1.2 38.4
LZ-2 3.4 0.36 0.03 0.31 n.d.
LZ-3 1.2 0.40 n.d. 0.48 17.0
PH-98-119 2.2 0.17 1.84 0.86 62.7
PH-98-120 3.4 0.36 n.d. 0.25 9.60
1999 Road Zone: Assays of samples taken from Road Zone excavation site 100 m x 600 m (Across strike) located approximately 1 km north of Lake Zone.
Sample Zn % Cu % Au g/t Ag g/t
121581 4.22 0.24 0.36 7.7
121579 3.36 1.08 0.96 39.0
121583 0.66 1.18 1.16 11.8
121577 5.27 0.07 0.05 2.6
2703 0.11 1.18 2.54 11.8
2704 3.20 0.77 0.38 9.9
2705 0.31 1.94 1.35 16.6
2708 9.20 0.11 0.08 4.1
The Powderhorn sediments hosting the apparently stratibound/stratiform sulphides are reported to be Ordovician in age and exhibit an open style of folding deformation similar to that identified in the Gull Hill sediments to the immediate south. Volacnoclastic cherts/porcellanites and ferruginous cherts present in the Gull Hill sequence have yet to be identified in the Powderhorn Property. The Gull Hill is considered a facies of the Roberts Arm assemblage known to host a number of VMS past producers including the following:
(1) The Buchans deposit:17.8 million tonnes averaging 14.88% Zn, 7.7% Pb, 1.3% Cu, 3.7 opt Ag and 0.045 opt Au with Zn:Cu ratios equal to approximately 11:1 and Au:Ag ratios equal to approximately 1:80;
(2) The Lake Bond deposit:2.6 million tons averaging 2.1% Zn, 0.3% Cu with Zn:Cu ratio equal to 7:1;
(3) The Gullbridge deposit: 3.0 million tons averaging 1.1% Cu.
The Powderhorn sediments are low energy quartzites, high aluminous pelites, variably containing megacrysts of andalusite-staurolite-cordicrite-garnet, and carbonaceous shales. The absence of kyanite is presently thought to argue against the premise that metamorphic prograding has solely occurred in conjunction with thermal hornfelsing in aureloes surrounding late intrusions.
Copper Hill will evaluate the possibility, during its envisaged exploration programme that the prograded megacrystic sediments may contain more localized and transecting. pipe-like entities involved in VMS generation. Copper Hill has applied for a drill permit from the Newfoundland Dept. of Mines to test this mineralized zone and a drill rig has been contracted.
Copper Hill which trades on the CDN holds a number of mineral exploration projects in Newfoundland and Labrador.
For further information, please call 709-739-4780; fax: 709-739-4785, or visit our web site home page at copperhillcorp.com to view project location maps and other data.
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