Copperbank rereleases sample results from Contact
Copperbank Resources Corp (C:CBK)
Shares Issued 130,432,291
Tuesday June 7 2016 - News Release
Mr. Gianni Kovacevic reports
COPPERBANK RE-CONFIRMS NEW TARGETS AT THE COMPANY'S CONTACT COPPER PROJECT, NEVADA
Copperbank Resources Corp. has rereleased results from a surface sampling program at the company's 100-per-cent-owned Contact copper project in northeast Nevada. These results were initially released on August 27, 2012 by Enexco International ("Enexco"), the predecessor company that owned the Contact Copper Project, and are being re-released as part of a corporate update on the joint venture opportunities within CopperBank's current portfolio of properties.
High-grade copper assays were returned from a suite of 28 rock chip samples taken at the Copper Ridge prospect, located one mile (1.6 km) southwest of the main Contact Copper Deposit resource area, on which a Pre-Feasibility Study ("PFS") was completed by Enexco in 2013. This 2012 surface sampling program returned grades of up to 12.4% copper in grab samples, from outcrops with visible copper oxide mineralization within quartz monzonite host rock. Samples were collected in an area of claims that were acquired in 2011 by predecessor company Enexco. Grab samples were collected from an approximately 8,000 by 2,000 foot area (2,500 by 600 m). This area has never been drill tested and previous activity is limited to shallow, historic prospect pits.
The purpose of the sampling program was to determine if additional geologic work was warranted to identify drill targets in the area. The results confirmed previous sample results and warrants follow-up work to identify near-surface, copper oxide material that could compliment the Contact Deposit Resource.
Select grab samples range from trace to 12.4% copper. Highlights include:
Copper Ridge Prospect Samples Sample No. Sample Type % Copper 51705 outcrop 2.94 51706 outcrop 0.84 51707 outcrop 3.05 51709 outcrop 0.64 51710 outcrop 1.24 51711 outcrop 0.68 51712 outcrop 0.12 86675 outcrop 3.44 86676 outcrop 1.19 85317 outcrop 9.79 85319 outcrop 4.69 85321 outcrop/dike 1.44 85322 outcrop 1.35 85323 outcrop 2.40 85324 outcrop 1.29 86679 outcrop/vein 1.00 86680 outcrop/vein 5.57 86684 outcrop 3.58 86686 outcrop 2.73 86687 outcrop 1.53 86689 outcrop 1.24 86690 outcrop 2.24 86691 outcrop 10.20 86692 outcrop/vein 12.40 86669 outcrop 0.57 86670 outcrop 3.12 86671 outcrop/dike 0.99 86673 outcrop 2.03
Gianni Kovacevic, CopperBank's Executive Chairman comments, "We are re-releasing this valuable information to showcase the significant exploration potential on the 5,600 acre overall project area. The Contact Copper Deposit is at the Pre-Feasibility stage and is highly leveraged to copper prices. Only 1.5 kilometres southwest from the resource area are the Copper Ridge and New York prospects that have never been drilled. With this close proximity to a PFS level project, we feel that there is an opportunity for us to explore various strategic initiatives to advance potential work programs - be it in a joint venture with interested parties, or in a modest 10 to 20 hole stand alone phase 1 drill program. By re-releasing these surface samples, we are excited to showcase the prospectivity of the historic Contact Mining District - a copper producer from 1909 to the 1940's."
About the Contact Copper Project
The Contact Copper Project is a copper oxide project 100% owned by CopperBank and located in Elko County, Nevada. A detailed explanation of the claim blocks for the entire project area can be found on the company's website.
The Contact Copper Project has had drilling totalling 280,000 feet (85,000 m) to date and is now at the pre-feasibility stage. Additional information, including Technical Reports the Pre-Feasibility Study are available on CopperBank's website at www.copperbankcorp.com
Qualified Person
Enexco's samples from the Copper Ridge Area surface sampling program were prepared and analyzed by SGS Minerals Services in Vancouver, Canada, an ISO/IEC 17025 certified laboratory under supervision by Enexco's Qualified Person. Robert McLeod, P.Geo, Qualified Person for CopperBank as defined by NI 43-101 has reviewed and approved the technical portions of this release.
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