COPPER CREEK COMMENCES DRILL PROGRAM ON BANDIT PROPERTY
Copper Creek Gold Corp. (TSX-V: CPV)is pleased to announce that the Company has commenced a percussion drilling program on the Company's Bandit copper-silver-gold exploration property located in the Blackwater area of central British Columbia.
Stina Resources Ltd. ("Stina", "TSX-V: SQA"
will be funding this year's exploration program on the Bandit property. Under the terms of an option agreement, Stina must incur $2 million in exploration work over a four year period and issue 400,000 common shares to Copper Creek over a three year period to earn a 60% interest in the property. Copper Creek will be the operator of the project for the present exploration season.
During the summer of 2011 Copper Creek conducted an extensive program of MMI soil sampling. This sampling uncovered a 2km x 5km area anomalous in copper, silver, gold and molybdenum. This area also shows as a coincident magnetic low on BC government aeromagnetic surveys.
The proposed exploration program will consist primarily of a number of percussion drill holes to assess the grade and extent of mineralization at the Bandit property.
The Bandit property lies approximately 130 km SSW of Vanderhoof, British Columbia. It is adjacent to claims owned by New Gold Inc. (NGD-T), where New Gold is currently drilling its Blackwater gold project. Blackwater currently hosts a gold resource of 5.5 million oz. indicated and 2.3 million oz. inferred (refer to New Gold Inc. March 7, 2012 news release).
The foregoing geological disclosure has been reviewed and verified by Kristian Whitehead, P.Geo. (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr. Whitehead is an officer of Copper Creek.
About Copper Creek Gold:
Copper Creek Gold Corp. is a Canadian-based mineral exploration company which holds exploration properties in the Eskay Creek area of Northern British Columbia, the Blackwater area of Central British Columbia, and the Sierra Madre region of Sonora, Mexico. For more information on Copper Creek Gold Corp., visit our web site: http://www.coppercreekgold.com.
ON BEHALF OF THE BOARD
James Anderson, President
FOR FURTHER INFORMATION CONTACT
James Anderson, President
Tel. 604-662-3004, ext. 105
Cell: 778-989-5346
james@coppercreekgold.com
Bing Jung, CEO
Tel. 604-662-3004, ext. 101
bjung@coppercreekgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of Copper Creek are forward looking-statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Copper Creek's plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timelines of government or regulatory approvals and other risks inherent in the oil and gas and mineral exploration industries and from the time to time in the filings made by Copper Creek. Copper Creek makes all reasonable efforts to update its corporate material, documentation and forward-looking information on a timely basis.
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Parlane Resource Corp. (PPP, TSX-V) & RJK Explorations (RJX.A, TSX-V): New Gold Takeover Targets?
"We Want To Control Everything In The Area" - New Gold Inc. Executive Chairman Randall Oliphant
Buried in the depths of New Gold Inc's (NGD, TSX) web site is a very juicy piece of audio from a speech just the other day that clearly underscores some no-brainer opportunities for investors centered around the prolific Blackwater district in central British Columbia...as regular BMR readers know, we were very early to the Blackwater story (late 2009) and Richfield Ventures became a 10-bagger for some of our readers after it got taken out by New Gold just over a year ago...New Gold also swallowed upSilver Quest Resources and Geo Minerals, and then paid $6 million earlier this year to Gold Reach Venturesfor its Auro and Auro South claims at Blackwater...
But New Gold, which has already built up a land position of 1,000 square kilometres in the area, is likely far from finished in terms of acquisitions based on comments made by Executive Chairman Randall Oliphnat at the recent Bank of America Merrill Lynch 18th Annual Canada Mining Conference in Toronto...while he didn't of course single out Parlane Resource Corp. (PPP, TSX-V) or RJX Explorations(RJX.A., TSX-V), it goes without saying that those two companies both hold very strategic and sizable land packages at Blackwater that have to be of strong interest to New Gold
And both Parlane and RJK are gearing up for the start of drill programs - RJK is going back to its Blackwater East and Northweast properties, where it made an interesting Silver discovery earlier this year (3.3 metres near-surface grading 79 opt), and will also conduct initial drilling at its Blackwater West and Dave 2 properties ....Parlane has a 10,000-metre drill permit in hand and is almost ready to begin tackling its very promising 14,000-hectare Big Bear Project strategically located between the Capoose and Blackwater deposits ...Parlanehas just 28 million shares outstanding with a current market cap of only $5 million...
New Gold has an incredible 18 rigs in operation at Blackwater where it has greatly expanded the resource since acquiring Richfield ...recent assays demonstrate strong continuity of Gold mineralization as the resource continues to expand, particularly to the north and northwest...what's especially interesting is that beyond the positive Gold-related results, recent assays have also returned some of the highest Silver grades found on the deposit to date ...as a result, the inferred Silver grades have increased by 103% to 7.7 g/t when compared with the March, 2012, resource estimate ...these results occur within a zone of higher grade Silver mineralization along the outer northwestern portion of the mineral resource...this zone offers excellent potential for expanding the Silver resource at Blackwater and is an area of strong exploration focus for the company ...Below are excerpts of Oliphant's speech the other day (highlighted areas, our emphasis) - how long will it take for New Gold to take a run at Parlane and/or RJK?
"The resource continues to expand and this is probably the largest pure Gold discovery ever found west of Ontario...it's not a well understood area...nobody knows where all this Gold came from...we have a Capoose property that's 25 kilometers away, that's already 800,000 ounces of Gold and 56 million ounces of silver...these deposits never seem to statistically happen in isolation where you have a 10 million ounce deposit, and nothing else around, whether it's a 2 or 4 million or 5 million ounce deposit as well"
"So what we've done is we've worked to try and increase our land position and we're now up to about 1,000 square kilometers, because frankly the geologists don't know what the source was of all this gold...we want to control everything in the areafrom the perspective of dealing with First Nations, of having complete flexibility of where we put tailing stands, waste, dumps, not having to lay that on other people's ground...our drilling is remarkably aggressive this year...we're going to drill about 250 kilometers of drilling...I read somewhere that this could be the most extensive drilling program going on in mining right now, but we're both trying to upgrade our resource and also expand the size of it"...
"The cost of building Blackwater, we can fund internally with the cash flows that we have"...
"We just announced that we're actually going to have a breakfast to bring out the preliminary economic assessment of Blackwater, here in Toronto, on September 20...
"One of the calling cards of our company and one of the reasons why we thought that we wanted to get involved in Blackwater was our teams in British Columbia have an outstanding relationship with all the First Nations groups...in fact our local chief was at PDAC here in Toronto, about a year and a half ago, talking about the model that we have and he'd like to see it rolled out all across Canada...that's made things a lot easier for us in dealing with First Nations in British Columbia...we already have, and they weren't even required, letters of support, to support our multi-year exploration permits"...
Parlane has been firming up just recently on increased volume and is looking quite bullish on the charts with 50 and 200-day moving averages just reversing to the upside...it closed yesterday at 18.5 cents...RJKlikely hit bottom in May at 8.5 cents and closed yesterday at 10.5 cents...
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