Constellation explores Flying Diamond as Lisbon Valley progresses

Vancouver With construction of the Lisbon Valley copper mine nearing completion in Utah, Constellation Copper (CCU-T) has obtained permits to drill the Flying Diamond copper discovery situated a few miles from Lisbon Valley, in neighboring Colorado.

The newly obtained permits allow the company to drill 17 holes at the Flying Diamond project. The program will test an area where copper oxides are exposed in outcrop along a strike length of more than 100 metres before the host formation disappears under alluvial cover. The company has also filed for permits to drill extensions of the discovery that cross the border into Utah.

Meanwhile, Constellation’s Lisbon Valley operation in Utah’s San Juan County is about 85% completed, with mining, crushing and placement of ore onto leach pads having reached full production capacity of 24,000 tons per day. About 20,000 tons of crushed ore is on the pads, with about 100,000 tons in an intermediate stockpile.

The solvent extraction electro-winning plant is nearing completion, with the first cathode copper expected to be produced in the fourth quarter of this year. Full production capacity of 54 million lbs. of copper should be achieved in the first quarter of 2006.

Lisbon Valley’s three main deposits host proven and probable reserves totaling 36.7 million tons grading 0.51% copper. These deposits also contain additional resources, while the property covers previously drilled satellite deposits that have potential to add several years of production to the Lisbon Valley operation.