Corriente Resources V.CTQ Junior Exploration Co. Message Board

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Gold/Mining/Energy : Corriente Resources V.CTQ Junior Exploration Co.

CTQ 25.45

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Sep 6 5:00 PM EST

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To: ogi who wrote (1365)	5/2/2000 7:23:00 PM
From: jerry janko	Read Replies (1) of 1416

Corriente receives Warintza drilling results Corriente Resources Inc CTQ Shares issued 21,387,832 May 2 close $3.05 Tue 2 May 2000 News Release Mr. Kenneth Shannon reports Results have been received from the initial drill program on the Warintza project, which is one of the copper targets in the Corriente copper belt in southeast Ecuador. A man portable diamond drill completed 16 drill holes totalling 2,300 metres. This drill rig allows Corriente to complete scout testing from small drill sites that are accessed by a network of light trails instead of the more normal large drill pads and access roads. Results of the drilling confirm the presence of a high-grade (>1 per cent Cu) supergene blanket at Warintza and also indicate the local presence of high-grade (>1 per cent Cu) primary sulphide mineralization. Results are as follows: From To Width Copper Moly Hole m m m % ppm 1 63 145 82 1.37 251 145 213 end 68 0.28 299 2 45 62 17 1.16 283 62 103 end 41 0.42 190 3 58 84 26 0.93 250 84 90 6 0.32 27 90 100 10 1.09 180 100 184 end 84 0.14 410 4 102 114 12 0.66 396 114 136 22 0.50 375 136 251 end 115 0.25 309 5 124 153 end 29 1.19 328 6 50 68 18 0.47 286 68 152 end 84 0.18 418 7 63 158 95 1.20 444 158 182 24 0.53 483 182 217 end 35 0.15 415 8 0 8 8 0.73 137 8 42 34 0.41 239 42 60 18 0.64 129 60 76 16 0.64 176 76 138 end 62 0.78 358 9 52 110 58 0.84 226 Leached 110 119 9 0.21 133 119 146 end 27 0.70 197 10 95 106 11 0.63 116 106 135 end 29 0.55 161 11 46 72 26 1.04 225 72 150 end 78 0.52 148 12 35 55 20 1.13 159 55 75 end 20 0.11 26 13 0 92 end 92 0.18 41 14 11 88 end 77 0.21 12 15 125 155 end 30 1.07 395 16 37 138 end 101 0.27 15 Holes 13, 14 and 16 are drilled outside the main anomaly. Intervals outside the zones noted above have been leached of copper. A standard exploration procedure to convert molybdenum analyses (in parts per million) to copper equivalent (in per cent) is to multiply the molybdenum values by six. As can be noted on the table of results, there are a number of intersections above 0.9 per cent Cu, the threshold set by Corriente as a minimum exploration target. In addition, there are several intersections of primary mineralization above the target grade, which was unexpected. These drill holes test the central part (approximately 700 metres long) of a copper-molybdenum geochemical anomaly which extends over four kilometres. The deposit is also open at depth as all drill holes were stopped in copper mineralization. J. David Lowell had the following comments regarding the drilling results: "I believe it is significant that the supergene enrichment blanket is well defined, continuous and subhorizontal with probable extensions to the south and west. These facts, combined with the relatively high primary grades improves the possibility that minable tonnage and grade will ultimately be delineated at Warintza or one of our other porphyry copper targets. There is a reasonable chance that the Corriente copper belt may ultimately become one of the world's significant copper districts." Work will now shift to the Chancho project approximately 80 kilometres to the south as part of the company's continuing program to complete scout drilling on a number of copper targets within the belt. Drill sites are being prepared and work should start approximately mid-May. Surface sampling, completed as part of the preparation for drilling, has confirmed the presence of strong supergene chalcocite mineralization in the area planned for the first phase of the program.

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