Coventry Resources Inc.
ASX : CYY

Coventry Resources Inc.

April 16, 2015 08:30 ET

Coventry Resources Inc.: Exceptional Drill Targets Prioritised at the High-Grade Caribou Dome Copper Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 16, 2015) - Coventry Resources Inc. (ASX:CYY) ("Coventry" or the "Company") advises that it has made an announcement to the Australian Securities Exchange titled "Exceptional Drill Targets Prioritised at the High-Grade Caribou Dome Copper Project". Highlights from the announcement are as follows:

  • Following a review of previous exploration data, Coventry has prioritised multiple exploration targets that are evident over >15km of strike at the Caribou Dome Copper Project ("the Project") in Alaska.
  • Outcrops of sediment-hosted copper mineralisation have been identified previously across the Project, confirming the previously drill-tested mineralisation, that is restricted to a corridor that extends over just 750 metres of strike, could be part of a much larger mineralised system.
  • Two exceptional drill targets have been identified. Both are completely untested by previous drilling. They comprise:
    • Outcropping mineralisation at Lense 2, that is 200m long, up to 15m wide and coincides with a 350m-long IP anomaly; and
    • A 400m-long soil anomaly, with assays of up to 0.63% copper, and a coincident IP anomaly, at the "Caribou South Target"
  • Additional drilling is also warranted to further evaluate the strike and depth extensions of all nine known mineralised lenses, where, in all cases mineralisation remains open along strike and at depth. Previous drilling results include:
    • 18.1m at 9.34% copper
    • 18.4m at 6.25% copper
    • 15.4m at 7.01% copper
    • 13.1m at 7.20% copper
  • Numerous extensive soil anomalies are evident in data acquired previously over 3.5km of strike. Further exploration is warranted at many of these.
  • Planning is well advanced for appropriate follow-up work.

A copy of the announcement has been filed on SEDAR (www.sedar.com) and is also available on the Company's website (www.coventryres.com) under the heading "News".

Qualified and Competent Person

The information in this news release that relates to exploration results for the Project has been approved by Mr Ben Vallerine, who is a consultant to the Company and holds an indirect shareholding in the Company. Mr Vallerine has reviewed the exploration results disclosed in this release, but has not verified the information due to the programs having been undertaken by the previous owners of the Project.

Mr Vallerine is a Member of the Australian Institute of Geoscientists. Mr Vallerine has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results (JORC Code). Mr Vallerine is also a Qualified Person as defined by Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr Vallerine consents to the inclusion in the news release of the matters based on the information in the form and context in which it appears.

Forward Looking Statements

This news release may contain "forward-looking statements" and/or "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, forward-looking information"). Any forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, Coventry Resources Inc. ("Coventry") does not intend, and does not assume any obligation, to update this forward-looking information. Forward-looking information includes, but is not limited to, statements with respect to resource project identification and evaluation and expected outcomes. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved.

Any forward-looking information contained in this news release is based on certain assumptions that Coventry believes are reasonable, including, that the current price of and demand for mineral commodities will be sustained or will improve, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed on reasonable terms, that supplies, equipment, personnel, permits and local community approval required to conduct Coventry's planned exploration and development activities will be available on reasonable terms and that Coventry will not experience any material accident, labour dispute, or failure of equipment.

However, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Coventry to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks and uncertainties relating to the actual results of exploration activities being different than anticipated, cost of labour increasing more than expected, cost of equipment or materials increasing more than expected, fluctuations in the commodity prices, currency fluctuations, risk of accidents, labour disputes and other risks generally associated with mineral exploration and unanticipated delays in obtaining or failing to obtain governmental or community approvals or financing. Although Coventry has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.

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