Copper Reef announces drill results from the winter drill program on Alberts Lake
June 6, 2016
Copper Reef Mining Corporation (CSE: CZC) (the "Company") is pleased to announce the drill results from this winter's drilling at Albert's Lake in Flin Flon, Manitoba.
Copper Reef's target was a VTEM electromagnetic airborne anomaly approximately The large moderate strength anomaly was considered a good target because it lay on trend of a number of deposits and as well as a large hydrothermal alteration zone in the Leo Lake area immediately south of Albert's Lake that is larger than the area of alteration in the Pine Bay area 5 km to the south at Callinex's new discovery.
Drill hole AL-16- 300 encountered a 2.95 m zone of massive to semi massive sulphides within a package of moderately sericitic altered quartz eye rhyolites, tuffs and lapilli tuffs. The intersection assayed 2.2 g/t silver, 0.11 % copper and 0.51 % zinc. Within this zone a slightly higher grade portion of 0.8 meters assayed 4.4 g/t silver, 0.13 % copper and 0.98 % zinc.
The high silver is significant as values above 2 g/t silver are indicative in the Flin Flon belt that you may be on a productive horizon. .
Drill hole AL-16-301, collared some 200 m south of the AL-16-300, was targeting a second subparallel VTEM anomaly and therefore overshot the key horizon intersected in AL-16-300. The drill hole was backed up from what was originally planned so to intersect both horizons but still overshot the first horizon by the increased depth to bed rock in this area. This drill hole intersected mafic volcanic flows, mafic tuffs, lapilli tuffs and sediments. The drill hole however did intersect a 0.55 m zone of barren massive sulphides within sediments. The sulphide horizon did not return elevated assay values of silver or zinc and showed completely no hydrothermal alteration. This horizon is of no further economic interest.
The company is encouraged that the VTEM target encountered in AL-16-300 turned out to be a mineralized sulphide horizon especially with elevated zinc and silver values. Copper Reef believes this is a promising horizon with the intersection in AL-16-300 at this location to be distal, likely up plunge from a possible deposit that is associated with the Leo Lake alteration zone. Copper Reef plans to conduct a ground geophysical survey to trace the anomaly to the south closer to the more intense alteration in the Leo Lake area once ice cover allows this to be carried out over Albert's Lake.
Stephen Masson is the qualified person for the drilling and has reviewed all the assay data, standards, drill core and procedures to ensure the results are accurate and representative and according to best practices.
ABOUT COPPER REEF MINING CORPORATION
Copper Reef is a Canadian junior mineral exploration company with a specific focus on mineral properties in northwest Manitoba and northeast Saskatchewan, Canada. All of the Issuer's properties are currently at the exploration stage. Our business plan is to acquire key properties enhance them or make a discovery and then to seek JV partners to further advance the projects. The Issuer has no long-term debt and has assembled a portfolio of base metal and precious metal prospects, including strategic locations in the Provinces of Manitoba and Saskatchewan.
Stephen L. Masson M.Sc. P.Geo.
President & CEO
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.