Columbus Copper Corporation

Columbus Copper Corporation

May 30, 2013 09:00 ET

Columbus Copper's 2013 Drilling Confirms Primary Porphyry Grade with 0.48% Copper and 0.10g/t Gold Over 153.7 Metres

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2013) - Columbus Copper Corporation ("Columbus Copper") (TSX VENTURE:CCU) (formerly Empire Mining) is pleased to report results from its 2013 diamond drilling program at the 100% owned Karapinar copper-molybdenum project in Turkey. These include 153.7 metres of 0.48% copper and 0.10 grams per tonne ("g/t") gold from 91.3 metres depth and 49.35 metres of 0.47% copper and 0.12 g/t gold from 408 metres depth, both part of a wider mineralized interval of 426.40 metres from 64.0 metres grading 0.36% copper, 0.08 g/t gold and 0.0101% molybdenum in drill-hole KDH027. The latest phase of the drilling campaign has focused on the primary, potassically-altered mineralization intersected in some of the earliest holes at Karapinar and demonstrated continuity to the northwest that is still open and remains to be drill-tested.

First Quantum Minerals Ltd. has been granted an option to earn an initial 51% interest in Karapinar and is funding the work program.

All eleven drill-holes from the Phase 1 drilling program have been completed for a total of 4358 metres drilled. Results have been received for the first ten holes and all, except for drill-hole KDH022 and KDH025, returned significant intercepts within porphyry or skarn mineralization, that confirm interpretations from the 2011 IP geophysical survey and the 2012 mapping campaign. A map with collar locations over plans of IP chargeability, simplified geology and ground magnetics with planned drill-hole locations is available at the following link:

The latest drill-holes targeted sulfide mineralization where past drilling demonstrated an increase in primary copper at depth, as exemplified by drill-hole KDH007, terminated at 380.5 metres in 0.55% copper and drill-hole KDH001 at 347.20 metres in 0.44% copper respectively. Drill-hole KDH026, collared 130 metres north north-east of drill-hole KDH001 at the marble-porphyry contact, intersected a 100 metre thick zone of skarn mineralization with several secondary copper enriched intervals, that include 12.5 metres at 1.64% copper and 0.26 g/t gold from 66 metres depth and followed by primary copper and molybdenum mineralization of 155.8 metres at 0.34% copper and 0.09 g/t gold and 0.0175% molybdenum from 103 metres depth. This includes shorter higher grade intercepts with 19.6 metres at 0.50% copper and 0.15 g/t gold and 0.0103% molybdenum where the stockwork mineralization from the porphyry stock is well developed and the primary potassic alteration is preserved.

Drill-hole KDH027, collared 110 metres west of drill-hole KDH026 intersected 153.7 metres of 0.48% copper and 0.10g/t gold from 91.3 metres depth and 49.35 metres of 0.47% copper and 0.12 g/t gold from 408 metres depth, both part of a wider mineralized interval of 426.40 metres from 64.0 metres grading 0.36% copper, 0.08 g/t gold and 0.0101% molybdenum. These are the longest and highest in primary copper grade intercepts on the program so far and a significant metreage can be attributed to intervals in potassic (K-Feldspar) alteration and quartz-chalcopyrite-magnetite mineralization, i.e. mineralization is not related to hydrothermal overprint or secondary enrichment processes. A similar mineralization style to KDH027 has been intersected in drill-hole KDH028, 230 metres to the west, suggesting continuity of the higher primary grade zone to the west and northwest. Assay results from this drill-hole are pending.

In 2011, Columbus Copper completed an IP survey at Karapinar that outlined a chargeability anomaly of 800 metres x 800 metres in the eastern part of the porphyry system where drill-hole KDH018 intersected a 60 metre zone of chalcocite enrichment grading 0.93% copper, 0.11 g/t gold and 0.017% molybdenum from a hole depth of 79.6 to 139.6 metres (see news releases of August 23rd and November 1st, 2011). The current drilling campaign set out to confirm that the IP reflects copper mineralization and the previously reported drill-hole KDH021 intersected a chalcocite enriched interval of 21 metres grading 1.05% copper between 135.0 and 183.0 metres in endo-skarn and drill-hole KDH024 intersected 59.9 metres of skarn breccia grading 0.55% copper between 219.1 and 279.0 metres. Both demonstrate the presence of an approximately 600 metres x 250 metres coherent zone of secondary copper/skarn mineralization, adjacent to the main porphyry stock that corresponds with the IP changeability anomalies and that might have a significant positive impact on resource tonnage (see news release of March 27th, 2013).

An alteration map and cross sections with down-hole assay results are available at the following link:

A summary of significant intercepts is available in the following table:

Hole No. Tot. Depth (m) From
KDH019 327.00 106.40 114.73 8.33 0.37 0.0043 0.07
160.70 167.00 6.30 0.53 0.0075 0.09
KDH020 102.00 5.00 35.75 30.75 0.34 0.0072 NS
including 5.00 13.10 8.10 0.53 0.0159 0.10
including 21.20 34.50 13.30 0.41 0.0060 NS
KDH020a 424.30 2.50 10.50 8.00 0.64 0.0098 0.16
31.80 36.10 4.30 0.30 0.0196 NS
KDH021 247.00 48.00 80.50 32.50 0.38 0.0122 0.07
135.00 183.00 21.00* 1.05 0.0023 NS
including 137.60 145.50 7.90 1.61 0.0032 0.05
including 172.50 183.00 10.50 0.87 0.0021 NS
KDH023 336.40 0.00 140.00 140.00 0.30 0.0011 0.11
including 5.20 27.00 21.80 0.56 0.0003 0.22
152.50 157.80 5.30 0.58 0.0038 0.13
199.50 206.40 6.90 0.45 0.0046 0.08
224.40 243.50 19.10 0.30 0.0070 0.07
270.00 282.50 12.50 0.50 0.0090 0.08
KDH024 607.20 66.00 75.60 9.60 0.34 0.0083 0.10
including 66.00 71.00 5.00 0.54 0.0091 0.16
219.10 279.00 59.90 0.55 0.0021 0.06
including 220.10 255.50 35.40 0.67 0.0023 0.09
including 235.10 244.50 9.40 1.27 0.0029 0.14
including 267 274 7.00 0.85 0.0015 0.03
KDH026 540.90 48.00 53.00 5.00 0.61 0.0061 0.10
66.00 78.50 12.50 1.64 0.0071 0.26
including 66.00 71.20 5.20 3.22 0.0105 0.43
103.00 258.80 155.80 0.34 0.0175 0.09
including 181.10 200.70 19.60 0.50 0.0103 0.15
274.90 392.00 117.10 0.26 0.0220 0.07
446.85 456.60 9.75 0.41 0.0118 0.08
482.50 490.60 8.10 0.53 0.0054 0.13
KDH027 577.90 64.00 490.40 426.40** 0.36 0.0101 0.08
including 91.30 245.00 153.70 0.48 0.0142 0.10
including 408.00 457.35 49.35 0.47 0.0087 0.12
* Interval is intersected by a post-mineral dyke between 145.5m and 172.5m
** Interval includes 12.5m of barren dykes, assay results for which are pending
NS No significant grade

The drilling program outlined two main aspects of the mineralization model at Karapinar porphyry. The endoskarn lithology that has been intersected in most of the drill-holes from the north-eastern part of the project area coincides with the strong IP responses. The IP anomalies can be attributed to skarn and secondary copper mineralization, often exceeding 1% copper and might have a significant positive impact on resource potential. The primary mineralization in the range of 0.4-0.6% copper identified in the recent drill-holes to the north and north-west of the previously drilled cluster correlates with quartz-chalcopyrite-magnetite mineralization from the potassic core zone of the porphyry system. This zone has been intersected within the three of the recently completed drill-holes, representing 350 metres of strike, remains open to the north-west where mapping has identified continuation of potassic alteration and is yet to be drill tested.

The next phase of drilling, developed jointly with First Quantum Minerals Ltd., will be focusedon the area north and north-west following the continuation of the recently identified primary copper mineralization, as well as widely spaced step-out holes intended to test the potential margins and outer boundaries of the mineralized system. A deep geophysical survey isalso intended to aid the generation of deep primary copper targets that reflect the recent mineralization and the re-interpretation of geochemical data and the SWIR and NIR spectral study on drill core samples.

Quality Assurance/Quality Control

All drill-core was sawn in half with sample widths determined by geology and mineralization. Individual samples within visible mineralization did not exceed 1.0 metre, while the maximum sample interval was3.0metres in intervals of post-mineral dykes. Samples were bagged, security tagged and sent to the ALS Chemex sample preparation facility in Izmir, Turkey and, following preparation, to the ALS Chemex laboratory in Vancouver BC. For all drill-holes to KDH022 inclusive, gold was determined by fire assay with AA finish, ore grade repeats were run with ICP-AES and a total of 33 elements determined by ICP after four-acid digestion. Starting with KDH023, the ICP multi-element suite was changed to ICP-MS after four acid digestion, determining 48 elements, while gold was determined by fire assay with AA finish as before. The change is driven by the indicated rhenium potential, will apply to all future Karapinar drill-core samples and will allow to further evaluate potential for elements that have not been assayed for so far.

Blank, duplicate and Certified Reference Material QAQC samples were distributed regularly in the assayed batches and their total numbers for Karapinar project are presented in the following table.

Total Number of Assayed Samples Number of Standards Number of Duplicates Total Number of QAQC Samples
3934 201 155 356

In addition, ALS Chemex performed internal check assaying on about 5% of the samples, and also included analyses of internal standards inserted into the sample string.

Columbus Copper's Qualified Person, David C. Cliff, BSc (Hons), MIMMM, C Eng., FGS, also Columbus Copper's President & CEO, has reviewed and approved the content of this news release.


David Cliff, President & CEO

This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting Columbus Copper's exploration plans. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation that plans may change as results are obtained; the ability to acquire necessary permits and other authorizations; environmental compliance; cost increases; availability of qualified workers; competition for mining properties; risks associated with exploration projects, mineral reserve and resource estimates (including the risk of assumption and methodology errors); dependence on third parties for services; non-performance by contractual counterparties; title risks; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: drilling plans based on present knowledge and expectations; general business and economic conditions; the timing and receipt of required approvals; availability of financing; power prices; ability to procure equipment and supplies; and ongoing relations with employees, partners and joint venturers. The foregoing list is not exhaustive. Although Columbus Copper has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Columbus Copper undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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