Celeste Copper Corp (CVE:C) unveiled Monday recent infill and lode extension drill results from its Cornish minerals project in Cornwall, UK.
company said the selected intersections represent significant zones of
mineralization of both high grades, and in some cases "disseminated
The drill results show high polymetallic grades,
and a number of wide intersections of tin, copper, zinc, tungsten and
Highlights included 19 metres of 0.72% tin and 0.2% copper in hole DD1142, and 3 metres of 1.63% tin in hole DD1134.
In addition, hole DD1144 returned 10 metres of 0.32% tin, 0.93% copper and 2.33% zinc.
said in-fill drilling is "consistently intersecting predicted
en-echelon mineralization in line with the company's target for an
upgraded resource by mid 2012".
The drilling results are from
five separate known mineralized zones and a number of previously unknown
lodes contained in the Dolcoath mineralized group. These areas contain
the inferred resource modeled by Micromine, with the latest results
infilling the blocks to upgrade resources and increase confidence.
targeted zones intersected are part of a large drilling campaign aimed
at developing mineable blocks for short term mine production.
"I am very encouraged by the assay results from the first batch of our drill holes," said executive chairman, Farhad Abasov.
results pleasantly surprised management with some holes yielding over
1% of Sn. These positive results will enable us to accelerate our drill
program in order to update our 43-101 compliant resource expected in May
The upcoming phase two drilling program will see an increased rate of drillling.
company hopes to develop significant additional tonnage in close
proximity that can be incrementally added to the project resource, by
targeting extensions of the known structures down dip, along strike and
The assays reported Monday are the first batch of results from 25
drill holes comprising over 1,100 samples that have been currently
submitted for analysis.
The results are to be included into an update of the company's NI 43-101 report, targeted for the beginning of May 2012.
company said that so far, a number of new zones have also been
encountered, which are "splays" off of the main zones or lodes that were
never recorded into the historical database.
Last May, Celeste
entered into an earn-in agreement to acquire up to a 100 percent
interest in Cornish Minerals Limited, which controls mining rights in
the historic Cornish mining region in Cornwall, England, including the
South Crofty Mine.
As of last summer, a summary of the in situ
classified inferred resource for the project, using a tin equivalent
economic cut-off of 0.30% was estimated at approximately 1.33 million
inferred tonnes of 0.44% tin, 1.08% copper and 0.66% zinc.