Copper Mountain (TSX:CMMC,ASX:C6C) has announced that following the completion of its phase 2 drilling program, the company has updated the mineral resource for its New Ingerbelle property.

According to the company, results of resource estimation based on the phase 2 drilling program have exceeded the company’s goal set for phase 3. The drilling program has successfully expanded the resource area and converted a significant part of the previously inferred mineral resource to the indicated and measured categories.

As highlighted in the press release:

• More than one billion pounds of copper and one million ounces of gold in measured and indicated mineral resource at a 0.12 percent copper cut-off grade
• Measured and indicated mineral resource of 151 million tonnes grading 0.29 percent copper and 0.18 grams per tonne (g/t) gold (0.41 percent copper equivalent) at a 0.16 percent copper cut-off grade
• Inferred mineral resource of 69 million tonnes grading 0.27 percent copper and 0.16 g/t gold (0.38 percent copper equivalent) for contained metal of 405 million pounds of copper and 0.36 million ounces of gold at a 0.16 percent cut-off copper grade.

Click here to read the full Copper Mountain (TSX:CMMC,ASX:C6C) press release.