Cooper Minerals Inc.

Cooper Minerals Inc.

October 01, 2007 07:00 ET

Cooper Minerals Begins Drilling on Terra Property, Great Bear Lake Area

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2007) - Cooper Minerals Inc. (TSX VENTURE:CQ)(FRANKFURT:JM6) is pleased to announce that diamond drilling has commenced at the Terra project, 430 kilometres north of Yellowknife, in the Northwest Territories. Cooper Minerals, holding 175,000 acres, is the largest public company landholder in the area. A minimum $2-million program, including drilling, is under way.

Simon Tam, president of Cooper Minerals, says: "The identification of large mineralized structures with intense hydrothermal alteration is guiding our selection of drill targets. We intend to aggressively drill these targets."

The Great Bear Lake area contains three historic mining camps, which are in close proximity and are geologically connected. These are the Port Radium, the Contact Lake and the Terra camps. The formerly producing mines in these camps produced intermittently from 1930 until 1985 over 48 million ounces silver, 15 million pounds of U3O8 and 7,000 tons of copper (Strand, 1996). A number of large hydrothermal systems have affected the area, consisting of intense iron and alkali-rich alteration zones. Uranium, copper, gold, silver, cobalt and bismuth showings have been documented on the properties.

The Cooper properties are situated in a geological setting that has the potential to host Echo bay-type, high-grade uranium and silver mineralization as well as the potential to host high-unit-value polymetallic mineralization associated with large-tonnage, IOCG-type deposits.

The Olympic Dam or IOCG model is proposed as a significant exploration target on Cooper's properties in this part of the Great Bear magmatic zone. These polymetallic targets have the potential to host billions of tons of copper, gold and uranium mineralization (Olympic Dam type). The resource at the Olympic Dam deposit (owned by BHP Billiton) was recently increased to 7.7 billion metric tonnes grading 0.87% copper, 0.29 kg/tonne U3O8, 0.30 g/t gold and 1.61 g/t silver. The Olympic Dam deposit is the largest uranium deposit in the world, the fourth largest copper deposit and the fifth largest gold deposit.

Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.

On behalf of the Board of Directors

Cooper Minerals Inc.

Simon Tam, Director

This News Release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This News Release contains Forward Looking Statements that are not historical facts and are subject to risks and uncertainties which could cause actual results to differ materially from those set forth in or implied herein.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.

Contact Information

  • Cooper Minerals Inc.
    Simon Tam
    (604) 871-9930
    (604) 871-9926 (FAX)