VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 15, 2014) - Lowell Copper Ltd. (TSX VENTURE:JDL) ("Lowell Copper" or the "Company") is pleased to announce a project exploration update in respect of Lowell Copper's Ricardo and TC projects. The Company anticipates the commencement of drill programs in respect of both the Ricardo and TC properties during the month of October, 2014.
The objective of drilling the TC project will be to test for a porphyry copper deposit which may be located underneath post-mineral rocks. One to two drill holes will be undertaken to test this target.
The TC Property is comprised of a group of claims located along the Hillsboro - Bisbee mineral trend in New Mexico. Post-mineral age rocks, consisting of Tertiary volcanic rocks and gravels, separate two areas of hydrothermal alteration associated with weak copper and gold mineralization typical of the peripheral part of a porphyry copper system. These post-mineral rocks cover an area about 2 miles by 6 miles. Geological data, supported by the geometry of the pre and post-mineral rocks suggest that drilling might intersect pre-mineral rocks at relatively shallow depth.
The Company is a party to an option agreement with Rose Petroleum PLC ("Rose Petroleum") and the wholly-owned subsidiary of Rose Petroleum, AVEN Associates LLC ("AVEN"), whereby the Company may earn up to a 70% interest in the TC property located in New Mexico (the "Property").
About Lowell Copper
Lowell Copper is a copper exploration and development focused company led by J. David Lowell and is listed on the TSX-V. The Company was founded to leverage the current market conditions and build a portfolio of economic copper projects through a combination of exploration, mergers and acquisitions by utilizing the considerable experience and success of management and directors of the Company.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACEY OR ACCURACY OF THIS RELEASE.
J. David Lowell, the Company's Chairman and Chief Executive Officer is the Qualified Person as defined under National Instrument 43-101 is responsible for the technical disclosure in this news release.
Forward-Looking Statements
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to the transactions contemplated under the option agreement among the Company, Rose Petroleum and AVEN, the results of any of the drill programs that are anticipated to commence on the TC and Ricardo properties and any proposed additional exploration activities and their timing and potential mineralization. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Lowell Copper to control or predict, that may cause Lowell Copper's actual results, performance or achievements may be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to:
risks and uncertainties related to the Option not being completed in the event that the conditions precedent thereto are not satisfied; the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the either company's expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. Lowell Copper does not undertake an obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.