Copperstone to resume drilling of Boleo project

Drilling will resume this month at the Boleo copper-cobalt project in Baja California Sur, Mexico.

Copperstone Resources (VSE), which is earning an 80% interest from Island-Arc Resources (VSE), plans to carry out at least 4,500 metres of drilling at the project, which comprises eight concessions.

Encouraged by results from the program completed last autumn, Copperstone will focus on the Nuevo Lucifer concession, where drilling returned intersections of 8.72 metres grading 1.37% copper and 0.052% cobalt from a depth of 157.6-166.3 metres for hole 95-13, and 30.74 metres grading 1.01% copper and 0.039% cobalt from a depth of 104.9-135.6 metres for hole 95-14.

Lucifer is one of four concessions that adjoin ground held by International Curator Resources (TSE) in the highly prospective Santa Rosalia Basin. Curator is carrying out definition drilling of a sediment-hosted resource estimated at 167.3 million tonnes grading 1.25% copper and 0.075% cobalt.

Copperstone also holds properties in the San Carlos Basin, 25 km north of Santa Rosalia, which it intends to drill-test this year.

Six holes were drilled there last autumn, three of which intersected copper-bearing sedimentary beds, returning 5.62 metres grading 0.4% copper for hole 95-17, 4.11 metres grading 0.5% copper for hole 95-19, and 3.8 metres grading 0.32% copper for hole 95-20.

Copperstone is well-financed for its next stage of drilling, with more than $2 million in the bank. It also has 12 million shares outstanding, or 14.4 million shares fully diluted.