DRC Resources Corporation's independent engineer has completed a Mineral Resource Study for the 2000 -- 2001 diamond drilling on the Afton Copper Gold Project, located in Kamloops, B.C.. The engineer recommends a $1,100,000 surface diamond drill program to explore the mineral zone along strike, to surface and to depth.
The Afton Main Zone is estimated to have a current Indicated Mineral Resource of 37.7 Million Tons (34.3 Million Tonnes) of 2.32% Copper Equivalent. The Afton Northeast Zone is estimated to have a current Indicated Mineral Resource of 1.2 Million Tons (1.1 Million Tonnes) of 1.40% Copper Equivalent. There is an additional estimated Inferred Mineral Resource, up-dip and down-dip of the Main Zone, of 4.8 Million Tons (4.4 Million Tonnes) of an assumed grade of 2.32% Copper Equivalent, similar to the grade of the Main Zone.
Mineral Resource Summary
Main Zone
Indicated Mineral Resource | 37.7 Million Tons (34.3 Million Tonnes)
2.32% Copper Equivalent
1.55% Cu
1.14 g/tonne (0.0366oz/tonne) Au
0.125 g/tonne (0.004 oz/tonne) Pd
3.42 g/tonne (0.11 oz/tonne) Ag
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Inferred Mineral Resource | 4.8 Million Tons (4.4 Million Tonnes)
2.32% Copper Equivalent
(assumed grade) |
Northeast Zone
Indicated Mineral Resource | 1.2 Million Tons (1.1 Million Tonnes)
1.40% Copper Equivalent
1.02 % Cu
0.86 g/tonne (0.027oz/tonne) Au
0.10 g/tonne (0.003 oz/tonne) Pd
5.49 g/tonne (0.17 oz/tonne) Ag
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Assumed Metal Prices (US$):
Copper $1540/tonne ($0.70/lb), Gold $8.75/g ($300/oz)
Palladium $11.67/g ($400/oz), Silver $0.13/g ($4.50/oz).
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During 2000 and 2001, 49 NQ Diamond Drill Holes totalling 23,800 metres (78,000 ft) outlined a significant, steeply-dipping, southwest plunging primary copper-rich deposit extending southwest from the 274 metre (900 ft) deep abandoned Afton open-pit. The Afton Main Zone averages 70 metres (230 ft) wide by 600 metres (1970 ft) long by over 775 metres in depth. In addition, a 30 metre wide northeast extension zone was located en-echelon to the Main Zone and increases the total mineralized length to 850 metres (2800 ft). The mineral zones remain open along strike to the northeast and southwest, but appear to narrow at depth (near Sea Level) and towards the surface, the latter containing lower metal grades.
The Mineral Resource Study report dated April 17, 2002 was prepared by an independent qualified person, James J. McDougall, P.Eng. in compliance with National Instrument 43-101 requirements and Form 43-101F1, and according to CIM Standards on Mineral Resources and Reserves, August 20, 2000. The mineral resource estimate was calculated by utilizing computer and manually generated plans, cross sections, 60 metre wide volume sections for 38 of 49 NQ diamond drill holes which intersected the mineral zone, a 0.5% copper cut-off grade, a tonnage factor of 2.6 tonnes/cubic metre, and weighted averages of metal grades for core intervals within the specific volume sections.
The company implemented and the geologist supervised a Quality Assurance Program for the Afton Project. All mineralized diamond drill core was logged, photographed, sawed and sampled in 2, 3, or 4 metre (7, 10 &13 ft) intervals and transported (by Eco-Tech employees) to Eco-Tech Laboratories Ltd. Of Kamloops, B.C. for analysis for copper, gold, silver and palladium. Check samples were randomly selected and sent to Acme Analytical Laboratories Ltd. Vancouver, B.C., which correlated with the original assays. Selected core samples were examined microscopically in the field and by petrographer J.F. Harris, Ph.D. in thin sections.
Eco-Tech Laboratories of Kamloops are B.C. Certified Assayers who participate in the National Canmet Proficiency Testing, and maintain their own in-house Quality Assurance and Quality Control Program. They have been in the analytical testing business for 27 years, and are familiar with assaying the Afton samples.
The copper equivalent value is based on a copper-gold mineral resource with minor palladium and silver values. The copper and gold constitutes 95% of the total concentrate value. The indicated mineral resource is not a mineral reserve and does not demonstrate economic viability.
The Mineral Resource Study states "The author is of the opinion that all sampling, logging, sample preparation, field and analytical procedures and security of samples was carried out in a proper manner under the supervision of the geologist and project manager. All exploration data relevant to the Afton project appears to have been collected, calculated and analyzed either manually or by computer generated techniques in a professional manner to arrive at the conclusions for this mineral resource study."
On behalf of the Board of Directors
"John H. Kruzick"
John H. Kruzick, President
DATE: April 25, 2002
U.S. Rule 12g3-2(b)Exemption
Moody's Investment Services Manual
Website: www.drcresources.com
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.
WARNING: The company relies on litigation protection for "forward-looking" statements.
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