American Copper Corp. Acquires Ridgestake Copper-Gold Project in Prolific Mining Belt and Adjacent to Taseko Mines' New Prosp...
12 August 2013 - 2:00PM
Marketwired
American Copper Corp. (OTCBB: AMCU) (herein after "American Copper"
and/or "the Company") announces the Company's acquisition of the
Ridgestake Copper-Gold Project as of June 2013. The
copper-gold-silver-molybdenum prospect is located 77 miles (125 km)
SW of Williams Lake in south-central British Columbia (BC), Canada,
(just north of the Washington state border). The prospect is
accessed via Provincial Highways and established forestry resource
roadways.
The Ridgestake Prospect comprises 7 mineral claims totaling
~7,733 acres (3,129.48 hectares). The claims lie in a prolific
mineral belt covering a 60-mile (100-km) area that contains several
zones of copper and gold mineralization.[1]
Within the belt, and immediately adjacent to the prospect, is
one of Canada's largest undeveloped copper-gold projects: the New
Prosperity Project, which is under development by Taseko Mines
(NYSE: TGB). The New Prosperity Project represents Proven and
Probable reserves of 3.6 billion pounds of copper and 7.7 million
ounces of gold.[2] New Prosperity is projected to produce an
average 108 million pounds of copper and 247 thousand ounces of
gold per year over a 20-year mine life.[3]
Mining activity and other deposits within the mineral belt
include Bralorne Pioneer mine (4.2 million oz of gold production),
Poison Mountain (280 Mt reserves at 0.261% copper & 0.142 g/t
gold), Taseko Empress deposit (11 Mt at 0.61% copper & 0.023
oz/t gold), Pellaire deposit (estimated 90,000 tons at 0.79 oz/t
gold; produced 2000 oz in 2002), and Taylor-Windfall (past gold
producer).[1]
Roughly 18 miles (30 km) NE of the Ridgestake Prospect, the
Newton Joint Venture includes 4 porphyry-style copper-molybdenum
drill targets that Amarc Resources (TSX VENTURE: AHR) has
identified for drill testing. Further north, Amarc also discovered
the important Newton bulk tonnage gold deposit in 2010. The Newton
deposit represents inferred mineral resources of 111.5 Mt grading
0.44 g/t gold and 2.1 g/t silver, containing 1.6 million ounces of
gold and 7.7 million ounces of silver. The Newton deposit is
located in the province's new gold belt, which also includes New
Gold Inc.'s (TSX: NGD) 10+ million ounce bulk tonnage Blackwater
gold deposit.[4]
The Ridgestake Prospect represents at least 2 types of potential
mineralization. The first is copper-gold mineralization of the type
related to porphyry copper systems, as at Taseko Mines' Prosperity
deposit and other deposits in the belt. Porphyry copper systems
have been exploited as bulk tonnage operations for over 100 years
and account for the bulk of the world's copper production. The
second potential type of mineralization is complex gold-copper
mineralization similar to the Blackwater gold deposit to the
northwest. Although possibly porphyry-related, this type of
mineralization has strong stratigraphic and structural controls on
mineralization distribution. The Newton discovery to the north of
the property and to the north of the Prosperity deposit is
interpreted to be of this type.[1]
American Copper is currently developing a rigorous exploration
program to evaluate the Ridgestake Prospect's mineral potential.
Program details will be announced as they become available.
American Copper's CEO, Alexander Stanbury, commented: "We
couldn't be happier with our acquisition of the Ridgestake
Copper-Gold Prospect. We're close to the US in mining-friendly
Canada, and within Canada's leading copper producing province, BC.
We're surrounding by rich mineralization and industry activity
while being close to West Coast ports that service export markets.
And we're targeting copper and gold in particular, both of which
are in-demand metals. Our focus now is further exploration of the
asset."
FOR ADDITIONAL INFORMATION Read more about the Ridgestake Copper
Prospect and additional information about the Company and its
latest press releases at American Copper Corp's official website:
http://www.american-copper.com.
ABOUT AMERICAN COPPER CORP American Copper Corp is a publicly
traded (OTCBB: AMCU), Denver, Colorado-based exploration and mining
company targeting copper, gold and other metals and minerals. The
Company continues to position itself for dynamic growth potential
by using the latest exploration technologies and by targeting
regions with proven copper production. The Company's Ridgestake
Copper Prospect is located in a prolific mineral belt north of
Washington state and immediately adjacent to one of Canada's
largest undeveloped copper-gold projects: the New Prosperity
Project, which represents Proven and Probable reserves of 3.6
billion pounds of copper and 7.7 million oz of gold.*
* Taseko Mines website, Jan. 18, 2013.
ON BEHALF OF THE BOARD OF DIRECTORS,
American Copper Corp Alexander Stanbury - CEO
1600 Broadway Suite 1600 Denver, Colorado 80202
This press release may include certain statements that are
forward-looking in nature and that involve a number of
uncertainties and risks. Such forward-looking statements are within
the meaning of that term in Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. The forward-looking statements in this press
release are based on American Copper Corp's current projections and
expectations in regard to future events, which are based on
currently available information. The forward-looking statements in
this press release may also include statements relating to American
Copper Corp's anticipated business prospects, strategies, new
developments, financial performance and similar matters. American
Copper Corp disclaims any obligation to update any of its
forward-looking statements, except as may be required by law.
Cautionary Note to U.S. Investors: The United States Securities
and Exchange Commission permits US companies, in their filings with
the SEC, to disclose only those mineral deposits that a company can
economically and legally extract or produce. We may use certain
terms in this press release, such as "measured," "indicated," and
"inferred resources," which the SEC guidelines prohibit US
registered companies from including in their filings with the SEC.
US investors are urged to consider closely the disclosure in our
Form 10-K which may be secured from us, or from our website at
http://www.american-copper.com.
SOURCES: 1. Ridgestake Yalakom Prospect Report, Dr. Stewart A.
Jackson Ph.D, P.Geol, P.Geo, Dec. 12, 2012. 2. Taseko Mines
website, Jan. 18, 2013. 3. New Prosperity Project website, Jan. 18,
2013. 4. Amarc Resources website, Jan. 18, 2013.
American Copper Corp. INVESTOR RELATIONS: Toll Free:
1-800-858-7506 E-mail: ir@american-copper.com
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