Celeste Copper Corp. (CVE:C) Thursday announced "very encouraging" drill results from its ongoing program at the South Crofty project in England, including five metres of 0.89% tin equivalent (Sn Eq) in hole DD1132.
tin and copper mining explorer reported that the latest results of the
drill program, being carried out by Cornish Minerals Ltd. in the
Dolcoath section of the South Crofty project include six drill holes
completed in the latter part of 2011 and the first three drill holes of
the 2012 program.
The holes are drilled from a decline and
associated development driven to the west of the South Crofty mine,
situated between the upper levels of mineralized structures that
originally formed part of the Dolcoath Mine and separated from South
Crofty by a major fault.
Highlights include significant results
from holes DD1127 to DD129, holes DD132, 135 and 140 to 144, and holes
DD1201, 02 and 04, which include results of eight metres at 0.51 per
cent Sn Eq, 14.86 metres at 0.51 per cent Sn Eq and 5.78 metres at 0.61
per cent Sn Eq.
"Drill results in this area continue to be very
encouraging, and show a continuity of mineralization in clearly defined
structures, said Celeste Copper president and CEO Alan Shoesmith.
great interest is the intercept of five metres of 0.89 per cent tin
equivalent in hole DD1132. This intercept is within the zone of Dolcoath
south lode which was worked previously at depth by the South Crofty
The notable intercept consists of several mineralized
quartz veins with disseminated mineralisation in the chlorite and
tourmaline altered wall rock. The company said that drilling has shown
the granite hosted lode appears to continue up dip from the original
workings and contains both tin and copper mineralisation.
added that the intercept in hole DD1202 is also "significant in showing
continuity in the wide footwall mineralization associated with the
previously mined Dolcoath main lode."
Celeste said that
significant intercepts returned from holes DD1140 to DD1144; and DD1201,
DD1202 and DD1204 drilled towards the south east to test the strike
extensions of the Dolcoath South Branch lodes, indicate the continuation
of this mineralized zone to the south west.
In 2011, 44
diamond drill holes were completed by Cornish Minerals Ltd. and in July
2011 Celeste filed an NI 43-101 compliant technical report that defined a
maiden inferred resource for the upper Dolcoath area of approximately
1.3 million tonnes at 0.44 per cent Sn, 1.08 per cent copper (Cu) and
0.66 per cent zinc (Zn), using a 0.3 per cent Sn Eq economic cutoff.
company said that drilling has continued since, testing both to the
north and to the south of the development and these results constitute
infill and extensional drilling that will be used in an update of that
resource due for release in mid-2012.
Highlights from the
previously-reported intervals include six metres at 1.65 per cent Sn Eq,
11.58 metres at 0.68 per cent Sn Eq and 12 metres at 0.75 per cent Sn
To date, Celeste reported that drilling has identified eight
discrete main structures within the upper Dolcoath deposit area, along
with a number of subordinate mineralized intercepts in between.
is a Canadian corporation currently focused on the acquisition of an
interest in Cornish Minerals Limited which controls mining rights in the
historic Cornish mining region in Cornwall, England, including the
South Crofty Mine as announced in a news release dated May 25, 2011.
addition, Celeste continues to assess other tin, copper and copper-gold
properties for exploration and development opportunities.
Last month, the company announced the close of its $2.1 million private placement financing with Liberty Metals and Mining.
Metals & Mining Holdings, a wholly-owned subsidiary of the
Boston-based Liberty Mutual Insurance, acquired ownership of over 23.3
million units at a price of nine cents each.