Targeted Strategies for Today's Evolving Markets

MissionIR Blog

Copper Mountain Mining Corp. (CUM.V) Expands Drilling Program

Copper Mountain Mining Corp. (CUM.V) announced Thursday that its initial 30,000 meter drill program currently underway at the 100% owned Copper Mountain project has been expanded to a 50,000 meter program based on success to date. Shares of the Vancouver, British Columbia, Canada-based company jumped 1% to $2.20 after it announced the expansion. The company added that its program is focused on continued expansion of the resource base through both incremental additions to known resources as well as the discovery and delineation of new zones of mineralization.

The Copper Mountain project is located approximately 9 miles southwest of Princeton, BC, an established mining town. The property consists of approximately 18,000 acres of prospective mining land, and the company has reported an interim resource of 2.9 billion pounds of copper on the property.

A total of five drills are currently working on the property: two drills are being used to obtain detailed geotechnical data for the concentrator and primary crusher foundation design that is needed for the feasibility study; one drill is being used to drill a series of deeper holes to better interpret the large chargeability anomalies defined by a recently completed geophysical survey; and two drills are drilling in areas where previous results have identified new zones of mineralization.

Copper Mountain Mining hopes to fully develop the Copper Mountain Project as a major copper and precious metal producer within the next three years.

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *