Hi Bill:
Here is a complete copy of Copperhill's latest press release:FOR FURTHER INFORMATION PLEASE CONTACT:
Copper Hill Corporation
Earl R. Benson
President
(709) 739-4780
(709) 739-4785 (FAX)
or
Copper Hill Corporation
Paul Katiforis
Manager, Investor Relations
(709) 739-4780
(709) 739-4785 (FAX)
The contents of the press release has been approved by the
Canadian Dealing Network
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: COPPER HILL CORPORATION
CANADIAN DEALING NETWORK SYMBOL: CUHL
JULY 22, 1998
Copper Hill Corporation - Approval for Quotation by The
Canadian Dealing Network (CDN)
ST. JOHN'S, NEWFOUNDLAND--Copper Hill Corporation (the
"Corporation") is pleased to announce that the Canadian Dealing
Network Inc. has approved the quotation of the common shares of
the Corporation. Quotation on the CDN system under the symbol
"CUHL" will be available starting Wednesday July 22, 1998.
Approval was granted following the completion of a financing
undertaken by the Corporation. A Private Placement of $251,000.00
via an Offering Memorandum was completed on July 21, 1998. A
total of 1,004,000 units were issued, each unit being comprised of
one common share and one warrant. Each warrant is exercisable at a
price of $0.50 per share at any time up to and including June
30th, 2000. The total number of issued and outstanding shares of
the Corporation is 16,647,140. On a fully-diluted basis, the total
number of issued and outstanding shares would be 17,751,140.
The Corporation is an Ontario corporation whose principal and
operating asset is its 100 percent-owned subsidiary, Copper Hill
Resources Inc. ("CHRI"), which owns and is actively exploring and
developing its mineral properties in Labrador and on the island of
Newfoundland. The Corporation does not anticipate that it will
have any Year 2000 issues as it has only recently started
operating.
MINERAL PROPERTY DESCRIPTIONS
A. LABRADOR PROPERTIES
South Voisey's / Harp Lake - Dart Creek Property:
The Dart Creek Property, located 4-5 km south of the Teck
Exploration & Donner Resources Ltd. Voisey's Bay South exploration
area, consists of 58 mineral claims covering 3,596 acres. These
claims were explored during 1995-1996 by Ace Developments Ltd. who
optioned the property from and subsequently reverted it back to
White Bear Resources. Subsequently, CHRI acquired the property
from White Bear Resources in 1996. The exploration work included
line-cutting, soil and rock sampling and ground geophysical
(magnetometer and VLF-EM) surveys. A magnetic and EM conductor
linear is evident on the NW-SE of the property where geochemical
assay values from rock grab samples were as high as 0.22 percent
copper (Cu) and 0.23 percent nickel (Ni) and over 0.11 percent
cobalt (Co). These samples were derived from highly oxidized
sulphides from mafic (anorthositic) intrusive units. CHRI
subsequently completed an airborne geophysical survey and further
geochemical sampling as part of its 1997 exploration program. This
program led to the signing of a Joint Venture Agreement with
First Labrador Acquisitions Inc. (ASE:FLI), previously announced
on December 10th, 1997 (Press Release 97-05). The Agreement
includes a $15,000 cash and 250,000 share payment from FLI, and a
$150,000.00 work commitment including a diamond drilling program
to be conducted by FLI on the property by December 31st, 1998 in
order for FLI to earn a 51 percent interest in the property.
South Voisey's / Central Mineral Belt - Copper Pond Property:
The Copper Pond Property consists of 53 contiguous mineral claims
covering 2,286 acres. The claims overlay Archean metamorphic and
intrusive basement rocks which form the southernmost extension of
the Nain Province in Labrador's Central Mineral Belt. CHRI's
1995-1996 exploration program resulted in the discovery of a
mineralized gossan within the northern portion of a coincident
airborne mag-EM high anomaly exceeding 2 km. consisting of highly
oxidized sulphides interlaced with silica veins.
Northern Labrador / NWT Diamond Properties:
The diamond properties consist of six non-contiguous claim blocks,
of which two are located in the NorthWest Territories (N.W.T.) and
the others are located in Northern Labrador. The N.W.T."Harvey"
Claims and "Chidley" Claims encompass 1,440 acres and 640 acres,
respect91ively. The Northern Labrador properties which encompass a
total of 2,170 acres were staked to evaluate whether the
ultramafic, lamprophyric dykes which are present in the area are
kimberlitic. Similar dykes have been reported within Quebec's
Abloviak Shear Zone by S. Digonnet et al. in 1996-1997 who
reported finding "a gem-quality 1.5 mm-diameter macrodiamond
within one of these Ungava Bay dykes". Similar diamondiferous
dykes were also reported during 1996-97 by Platinova to exist in
Western Greenland. Platinova which contain micro- and
macrodiamonds.
B. NEWFOUNDLAND PROPERTIES
Lemotte's Lake / Rushy Pond Properties:
These claims consist of 203 contiguous mineral claims covering
12,586 acres. They are located in the Grand Falls Area, within the
Eastern Dunnage Zone of the Central Volcanic Belt. The claims are
prospective for Cu, lead (Pb), zinc (Zn), gold (Au) and silver
(Ag) mineralization.
Charles Cove / Tim's Cove Properties:
This property consists of 79 contiguous mineral claims covering
4,898 acres. It is located in the Gander Bay Area within the
Eastern Dunnage Zone. Mineralization consisting of Pb, Zn, Au, Ag
and tungsten (W) is hosted in 3,500 to 4,000 m of 3 -15 m-wide
quartz veins which are parallel to the eastern periphery of a
granodiorite intrusive. Assay values from grab samples from these
quartz veins of gold up to 1.2 and 5.8 g/ton have been reported by
Evans et al.(1996).
Turk's Gut Property:
This property consists of 54 mineral claims, located in the Brigus
Area of the Harbour Main Group of the Avalon Appalachians,
situated approximately 40 km west of St. John's. The
mineralization contains Cu and Ag hosted in mafic amygdaloidal
basalt.
Grey River Property:
The property consists of 54 mineral claims contained in five
contiguous mineral claim blocks covering 3,348 acres and is
located in the Grey River Enclave of the Avalon Appalachian Orogen
(within the Carolina Slate Belt). Mineralization is polymetallic,
consisting of molybdenum (Mo), Cu, Zn, Pb, W, Au and Ag, hosted
partly in quartz veins and is adjacent to a possible large scale
porphyry style system.
The data from the 1997 (completed) and the 1998 (on-going)
exploration programs on all of the above properties which are all
100 percent-owned by CHRI, is being assessed by our
geological/geophysical consultants. Property updates will be
reported in subsequent news releases. A web site home page is
currently under development at www.copperhillcorp.com.
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