Hi jerry;
Great news from Copperhill:
Copper Hill Corporation
Mailing Address: 24 Vancouver St., St. John's, NF A1A 2R6
Office: Suite 103, 49-55 Elizabeth Ave., St. John's, NF A1A 1W8.
709-739-4780; 709-739-4785 (fax)
September 27, 2000 STOCK SYMBOL: CUHL (CDN)
SHARES OUTSTANDING:17,247,140
(FULLY DILUTED: 18,351,140)
FOR: COPPER HILL CORPORATION ("COPPER HILL")
RE: Billiton Resources Canada and Copper Hill Sign Exploration Agreement for the Powderhorn Lake Property
Copper Hill Corporation, and its wholly-owned subsidiary Copper Hill Resources Inc. (collectively "Copper Hill"), are pleased to announce the signing of an agreement with Billiton Resources Canada Inc. ("Billiton")
over Copper Hill's Powderhorn Lake project. The project is situated in the Buchans-Robert's Arm Belt, in Central Newfoundland, 40km to the NE of the Buchans group of deposits which together produced 17.8 million
tons of ore grading 14.88% Zn; 7.7% Pb; 1.3 % Cu; 88 g/t Ag & 1.28 g/t Au.
In early 1999, newly-cut logging roads located 1km north of Powderhorn Lake exposed shallowly dipping volcaniclastics of the Buchans Group over a wide area. These rocks hosted polymetallic sulphides with anomalous Zn, Cu, Pb, Au and Ag values and although only two shallow holes have been drilled within the anomalous area, both these intersected narrow
zones of base metal sulphides located at, or near surface.
The agreement gives Billiton the right to earn a 70% participating interest in the project through spending C$2.0 million on the properties over a period of four years. The initial exploration program is expected to commence immediately. Billiton will pay C$25,000 to Copper
Hill on signing in lieu of past expenditure incurred. During the earn-in phase, Copper Hill Resources will be the project operator.
Paris Georghiou, Copper Hill's Chief Executive Officer commented, "We are pleased to welcome Billiton as a partner with Copper Hill in the evaluation of the Powderhorn property which we believe is very prospective for the discovery of a new base metal deposit with significant open pit potential."
Copper Hill currently trades on the CDN and holds several other mineral exploration projects in Newfoundland and Labrador. Copper Hill has been invited to list on the CDNX exchange and it is anticipated that it will
commence trading on that exchange on October 2nd, 2000. 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.
On behalf of the Board of Directors,
Earl R. Benson, President and Paris E. Georghiou, C.E.O. |
