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Lorraine Copper Announces an Initial Resource Calculation for the Main Zone-Bishop Zone Area
May 30, 2012, Vancouver, BC -- Lorraine Copper Corp. ("Lorraine Copper" or "the Company") (TSX-V: LLC) has received the results of the NI 43-101 compliant Initial Resource Estimate that the Company commissioned from an independent consultant for the Main and Bishop Zones on its 49% owned Lorraine Property which is located in the Quesnel Terrane approximately 250 km northwest of Prince George, BC.
The Lorraine property is accessed by logging haul roads that connect to the communities of MacKenzie and Fort St. James and lies approximately 40 km from the Kemess power line. The mineralization is associated with alkaline intrusions of the Duckling Creek Syenite Complex and is in the alkaline copper-gold deposit class that includes deposits such as Galore Creek, Afton and Copper Mountain.
The Company is very pleased with the results of the resource estimate as it outlines a substantial deposit that has considerable room for expansion. The Main Zone-Bishop Zone area offers good potential for establishing a core resource from which exploration on other occurrences can add to. Also of significance are the high grades in both copper and gold for the resources. From this resource Lorraine management projects a target potential in the order of 100 million tons for the Main/Bishop Zone area. Limited drilling between the two zones indicates a good possibility for connecting into one deposit. There are seven additional mineralized zones on the property which have not yet been advanced to a stage where resources can be measured but which hold significant resource potential.
The resource calculation was completed by Giroux Consultants of Vancouver, BC and outlines resources for the Upper Main, Lower Main and Bishop Zones which have been the subject of most of the exploration drilling on the Lorraine Property. Geological interpretation indicates that these zones are likely one zone but drilling is not detailed enough to join them together for the purposes of the resource estimate. A total of 131 drill holes comprising 21,465 m were used in the resource estimate. Within all tables a 0.20 % Cu cut-off is highlighted as a possible open pit cut-off, however, at this time no economic studies have been completed and an economic cut-off is unknown.
LORRAINE MINERALIZED ZONES - INDICATED RESOURCE
Cu
Cut-off
(%) |
Tonnes> Cut-off
(tonnes)
|
Grade > Cut-off |
Contained Metal |
| Cu (%) |
Au (g/t) |
Million
lbs of Cu |
ozs Au |
| 0.10 |
6,755,000 |
0.59 |
0.23 |
87.879 |
50,000 |
| 0.15 |
6,671,000 |
0.60 |
0.23 |
88.257 |
49,000 |
| 0.20 |
6,419,000 |
0.61 |
0.23 |
86.339 |
47,000 |
| 0.25 |
5,955,000 |
0.64 |
0.24 |
84.037 |
46,000 |
| 0.30 |
5,388,000 |
0.68 |
0.25 |
80.788 |
43,000 |
| 0.35 |
4,763,000 |
0.73 |
0.26 |
76.668 |
40,000 |
| 0.40 |
4,284,000 |
0.77 |
0.27 |
72.736 |
37,000 |
| 0.45 |
3,694,000 |
0.82 |
0.28 |
66.791 |
33,000 |
| 0.50 |
3,203,000 |
0.87 |
0.29 |
61.445 |
30,000 |
| 0.55 |
2,803,000 |
0.92 |
0.30 |
56.862 |
27,000 |
| 0.60 |
2,455,000 |
0.97 |
0.31 |
52.509 |
24,000 |
| 0.65 |
2,207,000 |
1.01 |
0.31 |
49.151 |
22,000 |
| 0.70 |
1,956,000 |
1.06 |
0.33 |
45.718 |
21,000 |
| 0.75 |
1,765,000 |
1.09 |
0.34 |
42.421 |
19,000 |
LORRAINE MINERALIZED ZONE - INFERRED RESOURCE
Cu
Cut-off
(%) |
Tonnes> Cut-off
(tonnes) |
Grade > Cut-off |
Contained Metal |
Cu
(%) |
Au
(g/t) |
Million
lbs of Cu |
ozs Au |
| 0.10 |
29,650,000 |
0.44 |
0.19 |
287.664 |
181,000 |
| 0.15 |
29,501,000 |
0.45 |
0.19 |
292.724 |
180,000 |
| 0.20 |
28,823,000 |
0.45 |
0.19 |
285.996 |
176,000 |
| 0.25 |
26,866,000 |
0.47 |
0.19 |
278.426 |
164,000 |
| 0.30 |
22,869,000 |
0.50 |
0.19 |
252.131 |
140,000 |
| 0.35 |
18,568,000 |
0.54 |
0.20 |
221.089 |
119,000 |
| 0.40 |
14,797,000 |
0.59 |
0.21 |
192.502 |
100,000 |
| 0.45 |
11,471,000 |
0.63 |
0.21 |
159.349 |
77,000 |
| 0.50 |
8,714,000 |
0.68 |
0.22 |
130.658 |
62,000 |
| 0.55 |
6,866,000 |
0.73 |
0.22 |
110.519 |
49,000 |
| 0.60 |
5,299,000 |
0.77 |
0.23 |
89.969 |
39,000 |
| 0.65 |
4,024,000 |
0.82 |
0.24 |
72.758 |
31,000 |
| 0.70 |
3,076,000 |
0.86 |
0.25 |
58.330 |
25,000 |
| 0.75 |
2,295,000 |
0.91 |
0.27 |
46.050 |
20,000 |
Resource for Individual Zones within mineralized solids at a 0.20% Cu Cut-off
| Zone |
Classification |
Cu
Cut-off
(%) |
Tonnes> Cut-off
(tonnes) |
Grade > Cut-off |
Contained Metal |
|
|
Cu
(%) |
Au
(g/t) |
Million
lbs of Cu |
ozs Au |
|
|
| Upper Main |
Indicated |
0.20 |
4,841,000 |
0.63 |
0.25 |
67.249 |
39,000 |
| Lower Main |
Indicated |
0.20 |
791,000 |
0.46 |
0.25 |
8.023 |
6,000 |
| Bishop |
Indicated |
0.20 |
787,000 |
0.62 |
0.13 |
10.759 |
3,000 |
| Total |
Indicated |
0.20 |
6,419,000 |
0.61 |
0.23 |
86.031 |
48,000 |
|
|
|
|
|
|
|
|
| Upper Main |
Inferred |
0.20 |
10,775,000 |
0.46 |
0.20 |
109.291 |
69,000 |
| Lower Main |
Inferred |
0.20 |
12,908,000 |
0.39 |
0.22 |
111.002 |
91,000 |
| Bishop |
Inferred |
0.20 |
5,140,000 |
0.58 |
0.13 |
65.735 |
21,000 |
| Total |
Inferred |
0.20 |
28,823,000 |
0.45 |
0.19 |
286.029 |
181,000 | Note: Due to rounding the individual totals might not match the summations shown in previous Tables
Gary Giroux, P.Eng, and Leo Lindinger, P.Geo., are qualified persons for the purpose of National Instrument 43-101 and have authored the NI 43-101 Technical Report, which will be filed on SEDAR within 45 days of this announcement. Gary Giroux completed the resource estimate and takes responsibility for that portion of the report. Additionally they have read and take responsibility for the contents of this news release. G.L. Garratt, P.Geo., is the qualified person who has reviewed and takes responsibility for this news release.
G.L.Garratt, P.Geo.
G.L. Garratt, P.Geo., Director
Lorraine Copper Corp.
About Lorraine Copper
Lorraine Copper holds a 49% interest in the large Lorraine project and Teck Resources Limited holds a 51% interest, which it earned in February 2011, with an option to take that ownership up to 60% by completing a feasibility study and to 65% by arranging production financing for Lorraine Copper. For more information please visit the Company's website at www.lorrainecopper.com.
FOR FURTHER INFORMATION REGARDING LORRAINE COPPER PLEASE CONTACT:
Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: (888) 656-6611
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |