Copper Reef Mining Corporation

Copper Reef Mining Corporation

May 08, 2008 11:52 ET

Copper Reef Completes VTEM Survey Over Hanson Lake Properties

TORONTO, ONTARIO--(Marketwire - May 8, 2008) - Copper Reef Mining Corporation ("Company") (CNQ:CZCC) is pleased to announce that Geotech Ltd. of Aurora, Ont., using their high-definition, deep penetrating airborne geophysical versatile time-domain electromagnetic (VTEM) technology has completed airborne surveys over the company's 100% owned Hanson Lake and North Hanson Lake Properties. The Properties are located in central Saskatchewan, 60 km west of Flin Flon, Manitoba. The surveys, at 100 m spacing's between flight lines, included an airborne magnetic survey component to help interpret geology and structure. The survey, which covered the entirety of both properties, focused on the search for volcanogenic massive sulphide (VMS) copper-zinc-silver deposits.

The Hanson Lake Property contains the former Hanson Lake Mine, which produced 162,406 tons of 9.99% Zinc, 5.83% Lead, 0.51% Copper, and 137 gm/t Silver. According to historical records approximately 130,000 tons remained unmined (Saskatchewan Geological Survey, Open File Report 91-1). A compilation in 2007 of the Hanson Lake Property, from previous recorded work, outlined 11 new drill targets adjacent to or outside the former mine area. The VTEM survey is expected to offer some validation or confirmation of certain of these targets and possibly outline others.

Copper Reef's 100% owned Hanson Lake Property lies within the Hanson Lake Joint Venture Property containing the large McIlvenna Deposit, currently being drilled, held jointly by Copper Reef (25%) and Foran Mining (75%). Copper Reef's 100% owed North Hanson Property lies 550 m north of the Hanson Lake Joint Venture Property, at the north end of Hanson Lake, and contains old showings on the same horizon as the former Hanson Lake Mine and the McIlvenna deposit.

The VTEM survey is one of the leading, if not the leading airborne geophysical system in use today. The geophysical magnetic and electromagnetic data collected by this new survey, once interpreted, will provide anomalies which will allow geologists to evaluate them as prospective targets for drilling.

The VTEM system has documented capabilities to detect highly conductive rock bodies such as massive sulphide deposits to greater depths than the previous generation of airborne systems. This is particularly useful for the discovery of buried or hidden massive sulphide deposits beneath Hanson Lake or in areas of little outcrop such as south west of Hanson Lake.

The VTEM system employs a large, somewhat tent-shaped array that hangs from the underside of the helicopter, with a large outer loop at the bottom end. A current is sent through this outer loop, which energizes the ground, creating a secondary return EM field that is measured by the smaller, inner receiving loop and recorded digitally for analysis.

The Company is a Canadian junior mineral exploration company currently focused on discovery of new zones and further expansion of known resources on its mineral properties in Northwest Manitoba and Northeast Saskatchewan, Canada.

On Behalf of the Board of Directors

Robert N. Granger QC, President and CEO

Some of the statements contained in this release are or may be considered forward-looking statements, such as estimates and statements that describe Copper Reef's future plans, objectives or goals, including words to the effect that Copper Reef or its management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

No securities regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Copper Reef Mining Corporation
    Bill Jackson
    (416) 363-3456
    (416) 363-6032 (FAX)