LONGUEUIL, QUEBEC -- (Marketwire) -- 01/31/13 -- Highland Copper Company Inc. (TSX VENTURE: HI) ("Highland" or the "Company") is pleased to announce results for 18 additional diamond drill holes from the 543S chalcocite deposit at the Keweenaw copper project in the Upper Peninsula of Michigan, U.S.A. Some of the higher grade and longer intersections in holes for which all assays have been received and checked include the following:
-- CEN414: 13.0 meters of 3.64% Cu and 5.9 g/t Ag including -- 5.5 meters of 6.36% Cu and 8.1 g/t Ag-- CEN409: 10.0 meters of 3.45% Cu and 7.0 g/t Ag including -- 3.5 meters of 8.37% Cu and 1.6 g/t Ag-- CEN417: 25.7 meters of 2.99% Cu and 4.1 g/t Ag including-- 3.0 meters of 10.43% Cu and 14.2 g/t Ag-- CEN411: 33.5 meters of 2.25% Cu and 14.5 g/t Ag including -- 4.7 meters of 4.59% Cu and 2.6 g/t Ag-- CEN434: 46.3 meters of 1.99% Cu and 2.6 g/t Ag including -- 2.8 meters of 6.37% Cu and 3.8 g/t Ag-- CEN412: 29.0 meters of 1.95% Cu and 2.8 g/t Ag including -- 2.4 meters of 5.37% Cu and 4.8 g/t Ag and -- 2.0 meters of 7.93% Cu and 3.6 g/t Ag-- CEN407: 26.0 meters of 1.09% Cu and 1.2 g/t Ag-- CEN322: 25.5 meters of 1.08% Cu and 4.4 g/t Ag including -- 1.5 meters of 7.61 g/t Ag and 24.2 g/t Ag
Results for composite assay intersections in all 18 holes are shown on Table 1 (http://media3.marketwire.com/docs/HI_TBL1_0131.pdf). Sampling of visually-identified high grade copper intersections is on approximate 0.5 meter intervals adjusted for the geology. Individual high grade samples tend to cluster in continuous zones within broader envelopes of lower grade material. Contacts with adjacent unmineralized wall rocks may be sharp or gradational.
"We are very pleased with the results," noted Ross R. Grunwald, PhD, Vice president of Exploration for Highland. "It shows the strength and continuity of this copper system with its multiple lenses extending from near surface. The geological relationships in the most recent holes are consistent with those in previous holes and provide confidence that a reliable geological model may be developed to support a resource estimate."
The Company is currently completing the QAQC audit on the 543S database and resource estimation in compliance with Canadian National Instrument 43-101 ("NI 43-101") is expected to begin as soon as the audit is completed."
Exploration program progress
Highland's 2012 objective was to verify the 1970s drill results by reducing the historic drill hole spacing and twinning selected historic holes to establish a NI 43-101 resource estimate at the 543S deposit. To date 26,207 meters in 174 diamond drill holes (with a final hole in progress) have been completed (see Figure 1 at http://media3.marketwire.com/docs/HI_Fig1_0131.pdf). The original grid at an approximate 200 ft collar spacing (60 meters) has been reduced to an overall collar spacing of approximately 30 meters. Collar spacing in the southwestern portion of the 543S deposit was locally reduced to 15 meters to gain a better understanding of the continuity of mineralization and local geological structure (see Figure 1). Cross section 600E on Figure 2 indicates that the stratiform geometry of the mineralization is similar to the geometry of the mineralized zones on the adjacent section 500E (section 500E may be viewed in the January 9, 2013 news release on the Company's website) (http://media3.marketwire.com/docs/HI_Fig2_0131.pdf). Assay results for 123 diamond drill holes have been reported to date with assays from 51 holes remaining to be reported for the 543S deposit.