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Posts Tagged ‘La Fortuna’

Copper Creek To Commence Work On Santa Lucia Property

Recently we bought shares of Copper Creek Gold. In a joint venture with Kootenay Gold work will commence at the Santa Lucia Property. Today the stock is up 2.5 cents (27,7%) to CA$0.115 we bought @ CA$0.075 meaning a 53,3% gain. We think both the Santa Lucia Project and the Bonsai Project are very promising, but still this investment will remain a very high risk one until drill results confirm the data we expect. These ground samples from the Santa Lucia Property look very promising.

Copper Creek Gold News Release:

VANCOUVER, BRITISH COLUMBIA – January 6, 2011 – Copper Creek Gold Corp. (“Copper Creek” or the “Company”; TSX VENTURE: CPV) is pleased to announce that it plans to commence the exploration of its Santa Lucia property in Sonora, Mexico in early February 2011. Initially the exploration will consist of trenching, sampling and detailed geological mapping with a focus on the silver rich La Fortuna zone. This area is the site of numerous high grade gold and silver samples taken from surface outcrop, just west of a number of old artisanal mining pits.
Subsequent to the sampling program, 2200m of drilling is planned in approximately 10 holes. These holes will test the La Fortuna zone at depth, and will also penetrate untested resistivity anomalies along the 4km strike length of the La Fortuna North property.
These resistivity anomalies can be seen in both IP and CSAMT surveys done by Cominco Ltd.’s Mexican subsidiary in the 1990’s. The anomalies underlie over 4km of surface gold mineralization, and parallel a regional range-bounding fault that is interpreted to control mineralization on the property. These resistivity anomalies remain largely untested by drilling.
In late November 2010 the Santa Lucia North area was visited by a joint team of Kootenay Gold and Copper Creek geologists and managers. Six grab samples were collected from the Santa Lucia North area by Kristian Whitehead, Copper Creek’s consulting geologist, and were delivered to ALS Chemex Labs in North Vancouver, British Columbia for analysis. The samples verified the existence of strong gold-silver mineralization, with gold values ranging from 31 ppb Au to 1670 ppb Au and silver ranging from <5 ppm Ag to 64.9 ppm Ag. Analytical results are shown below.

Sample Area Description Au
(ppb)
Ag
(ppm)
As
(ppm)
Sb
(ppm)
H540836 La Fortuna tuff w/drusy quartz & hematite 321 5.5 5 5
H540837 West pit quartz vein 1670 44.5 12 5
H540838 La Fortuna silicified rhyolite w/ quartz vein 1065 32.4 17 5
H540839 Federico zone sil. rhyolite w/stockwork qtz veins 359 2.4 <5 5
H540840 East pit rhyolite w/minor silicification 449 64.9 6 <5
H540841 trench mottled silicified rhyolite 31 3.0 45 7

The Company has commissioned Robert G. Cuffney, P.Geo., of Reno, Nevada to produce an N1 43-101 compliant report on the property. This will be available to be viewed on Copper Creek Gold Corp.’s web site, and on SEDAR, upon acceptance by the TSX Venture Exchange.
Copper Creek can earn a 60% interest in the Santa Lucia project from Kootenay Gold Inc. by spending $2,000,000 in exploration expenses and by making various cash and share payments to Kootenay over a 4 year period. This agreement remains subject to Exchange approval.
About Copper Creek
Copper Creek Gold Corp. is a Canadian based mineral exploration company actively exploring in Northern British Columbia and Mexico. The Company holds two exploration projects, the Bonsai Property located in the Eskay Creek region of Northwest British Columbia, Canada, and the Santa Lucia Gold Property located at Sonora, Mexico. The Company may earn up to a 70% interest in the Bonsai property from Teuton Resources Corp. and a 60% interest in the Santa Lucia property from Kootenay Gold Inc. subject to approval by the TSX Venture Exchange.
FOR FURTHER INFORMATION CONTACT
James Anderson, President Phone: (604) 662-3004 extension #105 Email: james@coppercreekgold.com
Bing Jung, CEO Phone: (604) 662-3004 extension # 101 Email: bjung@coppercreekgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of Copper Creek are forward looking-statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Copper Creek’s plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timelines of government or regulatory approvals and other risks inherent in the oil and gas and mineral exploration industries and from the time to time in the filings made by Copper Creek. Copper Creek makes all reasonable efforts to update its corporate material, documentation and forward-looking information on a timely basis.

Source: Company website