Stingray Copper Inc.
TSX : SRY
TSX : SRY.WT

Stingray Copper Inc.

November 06, 2007 11:45 ET

Stingray Copper Drill Results-5 More Holes From El Pilar Copper Property

TORONTO, ONTARIO--(Marketwire - Nov. 6, 2007) - Peter Mordaunt, CEO and Chairman of Stingray Copper Inc. ("Stingray") (TSX:SRY)(TSX:SRY.WT) is pleased to report the results of 5 additional holes completed at the El Pilar Copper Property located in Sonora, Mexico. Stingray's current drilling is designed to enhance the El Pilar inferred mineral resource of 180 million tonnes grading 0.37% total copper calculated at a cut off of 0.25% total copper (See News Release 2007-05). Three drills are methodically intersecting oxidized copper mineralization at El Pilar where 82 vertical holes have now been drilled to fill in the resource model at 100 meter centers along its length and across its width. The copper mineralization occurs in a flat lying to gently dipping horizon and copper intervals reflect approximate true widths. The drilling is also delimiting the margins of the resource as the drilling progresses from the north to the south along the east-west drill sections.

The 5 new holes reported are drilled from the central section of the resource envelope. All holes continue to intersect wide intervals of significant oxidized copper mineralization similar in character to the previous wide spaced (200 meter) drill results completed by former property owner, Noranda Exploracion Mexico S.A. de C.V. The principal copper mineral intersected is chrysocolla occurring as angular clasts in the host conglomerate.



Table 1: Inferred Mineral Resource Fill In Drill Results
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Section Easting Hole From To Interval Grade
(m) (m) (m) (Total Copper %)
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8700N 1700 S07-39 48 118 70 0.36
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or 66 102 36 0.44
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1900 S07-41 106 234 128 0.37
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or 154 226 72 0.45
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2100 S07-42 104 252 148 0.25
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or 188 232 44 0.36
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8600N 1900 S07-49 130 266 136 0.29
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or 194 254 60 0.37
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8500N 1900 S07-63 144 264.5(i) 120.5 0.26
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or 206 258 52 0.33
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(i) The drill hole ended in copper mineralization.


Including these 5 diamond drill holes, Stingray has now reported 42 holes, drilled on 8 drill sections. An additional 40 drill holes have been completed and are at various stages of logging, sampling and awaiting assay results. All drill core samples are split by the Company's staff under the direction of the Company's geologists and are delivered for assaying to ALS Chemex, Hermosillo, Sonora, Mexico. The 42 holes reported are posted at the Company's website and a map of the hole locations can be found at the link below or at the Company's website;

http://www.stingraycopper.com/PressReleases/elpilar_drillingmap.pdf

The Company's drill program has provided encouraging results from the northern section of the resource. Stingray has identified a "starter pit area" incorporating the 4 most northerly sections. As the resource outcrops at Section 9200 North, this area will have a low strip ratio. Approximate dimensions of this area are 500 meter (length) by 400 meters (width) with thickness of 90 to greater than 100 meters. Stingray has begun an additional drill campaign to infill drill the 100 meter centers to an average drill center of 37.5 meters throughout this "starter pit area" of the resource. Material extracted from this drill program will be delivered to Metcon Research Inc. of Tucson with an extensive metallurgical program of column testing to be initiated in early January 2008. Additionally, Stingray has contracted for an airborne topographic survey of the resource area at the property and the Company is also reviewing final proposals for "Baseline" and "Environmental Impact Studies" to commence shortly.

Stingray is continuing its drill program, where 3 drills are drilling HQ core to reclassify the inferred mineral resource and develop the El Pilar as an open pit, heap leach, solvent extraction-electrowinning (SX-EW) copper mine. The oxidized copper mineralization as reported may appear lower in percentage copper than reported by sulphide copper developers and miners, however the capital and operating costs of heap leach, SX-EW operations are significantly lower. Additionally, such SX-EW copper operations produce a cathode copper product and not an intermediate concentrate that must be treated by a smelter and refiner.

Stingray is fully financed to complete the technical assessments of the El Pilar project that will lead up to the preparation of a Feasibility Study. The Company has approximately $24.5 million in cash and cashable GIC's on deposit at the CIBC and no debt.

Peter Mordaunt, P.Geo is the Qualified Person responsible for the technical content of this release.

Website: www.stingraycopper.com



TSX Symbol: Common Shares - "SRY"Issued: 58,725,982 common shares
Warrants - "SRY.WT" 20,850,000 warrants


Certain Statements presented herein may constitute "forward-looking statements". Such forward-looking statements may include potential mineralization, resources and reserves, conclusions of prefeasibility and feasibility studies, estimates of future production, capital and operating costs, prices of metals and other known and unknown risks. These and other factors and uncertainties may cause material differences from future results as expressed or implied by these forward-looking statements. These risks, uncertainties and other factors include but are not limited to the risks involved in the exploration, development and mining business.



TSX Trading Symbol: Common Shares - "SRY" CUSIP Number 860838101
Warrants - "SRY.WT" CUSIP Number 860838119

Contact Information

  • Stingray Copper Inc.
    Steve Brunelle
    Vice President
    416) 368-6240
    or
    Stingray Copper Inc.
    Peter Mordaunt
    CEO & Chairman
    416) 368-6240
    Website: www.stingraycopper.com