RELEASE 00-3
October 16, 2000 STOCK SYMBOL: YCU (CDNX)
SHARES OUTSTANDING:17,247,140
(FULLY DILUTED: 18,351,140)
FOR: COPPER HILL CORPORATION (“COPPER HILL”)
RE: Exploration Commences on Powderhorn Lake Property
Copper Hill Corporation, its wholly owned subsidiary Copper Hill Resources Inc. (collectively “Copper Hill”) and its exploration partner
Billiton
Resources Canada Inc. (“Billiton”) are pleased to report the commencement of Phase I of exploration on the Powderhorn Lake project. A C$2.0
million exploration agreement between Copper Hill and Billiton was previously announced on September 27, 2000.
Tenders have been awarded for line cutting, a dipole-dipole IP (Induced Polarization) geophysical survey and geological mapping to be
conducted on a 30 km exploration grid on north of Powderhorn Lake. The grid is located over the region now referred to as the “Pearl Zone”
where two wildcat shallow holes drilled by Copper Hill in 1999.
The project is situated in the Buchans-Robert’s Arm Belt, in Central Newfoundland, 40 km 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. Copper Hill and Billiton believe
that
the Powderhorn property is very prospective for the discovery of a new base metal deposit with open pit potential.
Copper Hill Corporation is now listed on the Canadian Venture Exchange (CDNX) and holds several other 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.
On behalf of the Board of Directors,
Earl R. Benson, President and Paris E. Georghiou, C.E.O. |
