Global Hunter draws bead on upgrading oxide copper resource

Vancouver – Infill drilling by Global Hunter (BOB-V, GBLHF-O) on the Las Posadas shear zone at its La Corona de Cobre project in northern Chile has cut some significant copper intercepts.

The latest round of holes includes LP-85 returning 52 metres (from 37 metres downhole depth) grading 1.75% copper (1.42% soluble copper) including an 18-metre section of 2.96% copper (2.46% soluble copper).

Recently completed drilling of almost 9,600 metres mostly infilled earlier holes — bringing drill density down to roughly 50-metre centres over the existing resource. The program also served to extract additional material for copper oxide metallurgical testing.

A 2006 resource tally modeled a pit shell on the Las Posadas shear zone hosting an estimated 8.5 million indicated oxide tonnes grading 0.73% copper (0.614% soluble copper) for about 115 million contained lbs. soluble copper. An additional 4.6 million inferred tonnes of 0.56% copper (0.49% soluble copper) was also tabled for about 44.9 million contained lbs. soluble copper. The estimate used US$1.61 per lb. copper and a 0.16% soluble copper cut-off grade.

Situated about 70 km north of La Serena, the project is in the Chilean Iron Belt and sits at the southern end of the north-northeast trending Atacama fault zone. Global Hunter has identified at least 15 mineralized shear structures on the project ranging from 10-150 metres wide and 0.5-9 km in strike length and is also evaluating the IOCG (iron oxide-copper-gold) potential of the project.

The company also holds its Rabbit South molybdenum project near Kamloops in south-central B.C.

Shares of the junior moved up 3.5 on the Las Posadas copper assays to close at 26.5 apiece in January 29th trading.

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