VANCOUVER, British Columbia, October 25, 2012 /PRNewswire/ --
Capstone Mining Corp. ("Capstone") (TSX: CS) today announced the results of the first National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for two new areas at its Minto Mine in Yukon, Canada.
A US$4.9 million, 29,500 metre, 2012 exploration program completed this spring at the Fireweed area discovered in 2011, and Inferno North area discovered in 2012, contributed to a resource estimate of 101 million pounds of copper in the indicated category and 86 million pounds in the inferred category, at a 1.2% copper cut-off grade.
"We are pleased to report another successful drill season at Minto," said Brad Mercer, Capstone's Vice President of Exploration. "The additional 2.2 million tonnes of Indicated resource at 2.14% copper at Fireweed, an extension of the Minto East deposit, ranks amongst the highest grade mineralization on the property. It is a good location to find new resources, as the Minto East deposit already has a mineral reserve and is slated for underground mining in 2015. This Indicated resource at Fireweed will be targeted by mine engineering for potential conversion to mineral reserves in 2013. Both Fireweed and Inferno North remain excellent exploration targets with potential to step out, as well as infill in the future."Mineral Resource Estimate by Class for the Fireweed Extension of the Minto East Deposit, at a 1.2% copper cut-off grade ("Cu COG")
Contained Contained Contained Tonnes Copper Gold Silver Cu Gold Silver (000's)* (%) (g/t) (g/t) (000's lbs)* (000's oz)* (000's oz)* Indicated (I) 2,152 2.14 1.01 8.9 101,528 69.7 618.7 Inferred 1,506 1.64 0.66 5.4 54,536 31.9 262.5*Rounded to nearest thousand; totals may not sum exactly due to rounding.