Oct 17 2014
Lowell Copper Ltd. is pleased to announce a project exploration update in respect of Lowell Copper's Ricardo and TC projects. The Company anticipates the commencement of drill programs in respect of both the Ricardo and TC properties during the month of October, 2014.
Marcel de Groot, the Company's President, commented, "We are pleased to have received drill permits to test two attractive targets in our portfolio. Our business model is focused on low cost opportunities to discover world-class copper deposits using the unique and proven mine finding talents of Chairman and Founder David Lowell and his team. We are excited to apply this model on the Ricardo and TC projects through the upcoming drill programs and look forward to updating shareholders once these programs are completed."
Ricardo Project
The Ricardo project is a 100% owned copper-molybdenum exploration prospect located to the south of COLDECO's Chuquicamata deposit in Chile. The Ricardo project consists of approximately 16,000 hectares and is located 28 to more than 55 kilometres south of the Chuquicamata deposit where the exploration focus is following up on evidence that the missing segments of Chuquicamata may have been displaced southward along the West Fissure onto the Ricardo project. Chuquicamata, which commenced production in 1915, remains one of the largest copper mines in the world despite having produced over 50 billion pounds of copper during its life to date. The drilling will initially test two deep targets, which are under a layer of post-mineral gravels, and will consist of four to six deep drill holes. With success additional holes will be drilled.
The Ricardo drilling program will be conducted by a team headed by David Lowell whose lengthy experience in the region includes the discovery of the world's largest copper mine La Escondida, also, located on the prolific West Fissure.
TC Project
The objective of drilling the TC project will be to test for a porphyry copper deposit which may be located underneath post-mineral rocks. One to two drill holes will be undertaken to test this target.
The TC Property is comprised of a group of claims located along the Hillsboro - Bisbee mineral trend in New Mexico. Post-mineral age rocks, consisting of Tertiary volcanic rocks and gravels, separate two areas of hydrothermal alteration associated with weak copper and gold mineralization typical of the peripheral part of a porphyry copper system. These post-mineral rocks cover an area about 2 miles by 6 miles. Geological data, supported by the geometry of the pre and post-mineral rocks suggest that drilling might intersect pre-mineral rocks at relatively shallow depth.
The Company is a party to an option agreement with Rose Petroleum PLC ("Rose Petroleum") and the wholly-owned subsidiary of Rose Petroleum, AVEN Associates LLC, whereby the Company may earn up to a 70% interest in the TC property located in New Mexico.
Source: http://www.lowellcopper.com/