UPDATE: Drilling at Columbus Copper's Karapinar Project Intersects 21 Metres of 1.05% Copper; Shares Fall to New Yr Low
Columbus Copper Corporation (CCU.V) today reported an update on the ongoing diamond drilling program at its 100% owned Karapinar copper-molybdenum project in Turkey. At the end of October 2012, Columbus Copper initiated a drilling program at Karapinar where First Quantum Minerals Ltd., has been granted an option to earn an initial 51% interest.
Seven drill holes have been completed on the program to date for a total of 2,394.6 metres and an eighth hole is currently in progress.
In the current program, drill hole KDH021, collared to test an IP anomaly 500 metres north-east of KDH018, intersected a chalcocite enriched interval of 21 metres grading 1.05% copper between 135.0 and 183.0 metres in endoskarn, including 7.9 metres at 1.61% copper between 137.6 and 145.5 metres. Drill hole KDH024 tested another IP anomaly 300 metres south-west of KDH021 and intersected 30 metres of mineralized endoskarn. Assays for this drill hole are pending.
Columbus is down 4 cents (40%) to a new yr low of 6 cents late morning. Volume traded is 158,000.
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