Metals News
UPDATE 1-Capstone Confirms Continuity of High-Grade Copper Zone
industry news
Dec 2,2010

Dec 1 (Reuters) - Capstone Mining (CS.TO) confirmed continuity between the high grade copper-silver intercepts previously discovered at a section of its Cozamin mine in Mexico, where it recently suspended operations following an accident.

In October, the copper producer said it discovered a section of high grade copper-silver mineralization in the Mala Noche Footwall Zone at Cozamin -- a large-scale mine producing silver, lead and zinc as byproducts.

Capstone said a hole drilled between two prior discoveries intersected two intervals with high copper-gold-silver values.

"The high gold values in hole U240 are particularly encouraging, as they are much higher than is typical for the Cozamin mine," the company said.

Capstone said it has added a second underground drill to speed up evaluation of this high-grade zone, which will continue into 2011.

On Nov. 28, the company suspended mining at Cozamin after a miner died in an accident, and said it expected operations to return to capacity within 10 days.

While shares of the Vancouver-based company have gained 33 percent in value since the high-grade zone was discovered in October, they shed 5 percent following the accident.

Shares closed at C$4.34 on Tuesday on the Toronto Stock Exchange.

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