The company said that these seven holes are designed to test the mineralization hosted by Triassic-Jurassic Nicola Group island-arch volcanic assemblages and co-magmatic monzonite to diorite plutons.
All holes were located in the company’s Road project area, located 2km south from the Copper Mountain Rifle and Oriole zones and in close proximity to the Copper Mountain mill.
Each hole was drilled to a depth of 200m, with holes 6 through 8 being logged, split and sent for assay.
Holes 9 through 12 are in the process of being logged and split, and will be sent for assay upon completion.
The company intends to re-commence the drill program upon receipt of assays from all holes.
Copper Mountain has recently signed debt financing agreements for $322m to continue the development and construction of the proposed mine to produce 105 million pounds of copper per year by June, 2011.
