KOPR Point Ventures Inc. (CSE: KOPR) (OTC: NPEZF) (FSE: 4NP) (“KOPR Point” or the “Company”) offers an exploration update on the Majuba Hill Copper Project.
The Company is very pleased to update shareholders on the recent re-assay conducted on Diamond Drill hole MG 1703. The entire hole contains copper and was mineralized from top to bottom. Results returned a grade of 1142.2 feet @ 0.10% from 0 to 1142.2 feet. Hole MG 1703 was an angled drill hole to explore for the outer edges of the mineralization outlined by past exploration. Hole MG 1703 is located 1000 feet eastward of the oxide copper mineralization which is currently modeled, and subject to ongoing economic evaluation.
This hole is very significant for two reasons:
High-grade oxide values of 66.9 ft @ 0.71% Cu (including 10 ft @ 3.15% Cu from 337.7 to 404.6 feet) are very similar to the “Copper Stope” high-grade zone mined historically. The Company’s technical advisors believe that this high-grade will extend to the high-grade copper in surface rock sampling on the ridge directly above it and which has not yet been explored by drilling.
The deeper, thick intervals of greater than 0.1% copper are in porphyry-stockwork sulfide-veins that contain silver and trace element values similar to drill hole MMX-24. This indicates that Hole 1703 did not go deep enough, but is getting closer to the higher grades intersected in hole MMX-24.
Using a mining-type intersection calculation*, with a greater than 0.05% copper cut-off the intersections include:
337.7 ft to 404.6 ft – 66.9 ft @ 0.71%
(includes 337.7 ft to 347.7 ft -10 ft @ 3.15% Cu)
665.6 ft to 793.6 ft – 138 ft @ 0.10%
904.0 ft to 1142.2 ft – 238.2 ft @ 0.13% Cu
(*No more than 1 internal “waste” assay less than 0.05% Cu and intersection still has to be at least 0.10%. True width is unknown at this time.)
David Greenway, President & CEO, comments:
“The results from this latest testing are frankly beyond our expectations! Having this sort of grade and mineralization in a hole that steps out 1000 feet completely changes our understanding and expectations with Majuba Hill. This unexpected gift clearly implies that the copper oxide zone extends AT LEAST 1000 feet eastward, is open to depth and also supports a reasonable expectation of further extensions of the deeper high grades associated with hole MMX-24. All our oxide target modeling to date was based on the surface and historic underground drilling around the historic underground workings. Clearly, this possible extension was missed and has left a lot of potential return for KOPR shareholders! We are completely reassessing the asset and couldn’t be more excited with the newly added potential at Majuba.”
Majuba Hill is a 4,198 acre copper silver porphyry prospect located 55 miles southwest of Winnemucca and 138 miles east-northeast of Reno Nevada. The property has moderate to strong Cu – Ag mineralization found within the Majuba intrusive porphyry complex. Between 2007 and the present, 38 holes with a total of 21,531 feet were drilled at Majuba. Prior to this, 28 holes with a total of 23,316 feet were drilled between 1920 and 1975. Drill logs and assays for the historic drilling are available in various formats. The modern (2007 and later) drilling records are in very good condition and have been converted to electronic format along with all assay certificates and results.
All sampling was conducted under the supervision of the Company’s consulting geologist and the chain of custody from the project to the sample preparation facility was continuously monitored. A blank or certified reference material, was inserted approximately every 24 samples. The samples were delivered to Bureau Veritas Mineral Laboratories preparation facility in Elko, NV where they were crushed and pulverized. Resulting sample pulps were shipped to Bureau Veritas certified laboratory in Sparks, NV or Vancouver, BC. Pulps were digested using a multi-acid digestion and analyzed for copper and 34 additional elements using ICP-ES. Gold was analyzed using a fire assay fusion and an atomic absorption spectroscopy (AAS) finish on a 30-gram split. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to insure accurate and verifiable results.
E.L. “Buster” Hunsaker III, CPG, Chairman of the Company’s Advisory Board, is the Qualified Person who has reviewed and approved the technical content of this news release on behalf of the Company.
About KOPR Point Ventures Inc.
KOPR Point (CSE: KOPR) (OTC: NPEZF) (FSE: 4NP) is engaged in the identification, review and acquisition of latter stage Copper and Copper/Gold assets. Management has been mandated to focus on safe, mining friendly jurisdictions and government regulations supportive of mining operations.
On Behalf of the Board of KOPR Point Ventures
President & CEO
310-221 West Esplanade
North Vancouver, BC
For further information, please contact:
P: (604) 318-0114
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.