Global Copper Corp.

Global Copper Corp.

July 09, 2007 08:30 ET

Global Copper Intersects 255 Meters Grading 1.01% Copper Equivalent(ii) in Step-Out Drilling in the Las Guias Zone at Relincho, Chile; Drill Program Expanded

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2007) - Global Copper Corp. ("Global") (TSX:GLQ) is pleased to announce the results of twelve additional holes from the sulphide drilling program at its Relincho copper-molybdenum project located 60 kilometers northeast of Vallenar, in Region III, Chile. The results are highlighted by step out hole RG06-189 in the Las Guias zone that intersected 255 meters from 364 meters grading 0.67% copper and 0.057% molybdenum (1.01% copper equivalent(ii)) including 26 meters from 574 meters grading 1.46% copper and 0.125% molybdenum (2.22% copper equivalent(ii)). Hole RG06-183, also a step out at Las Guias, intersected 418 meters grading 0.43% copper and 0.027% molybdenum (0.59% copper equivalent(ii)) from surface.

The results from the latest 12 drill holes are shown in the table below:

Holes Pre-
- Collar
Order Hole Cu Cu-
of Num- Len- To- Eq
Compl- ber From To gth tal Mo %
etion(i) (i) (m) (m) (m) (%) (%) (ii) Comment Area
35 RG06 0 418 418 0.43 0.027 0.59 100m step-out to east. LAS
-183 GUIAS
532 568 36 0.51 0.005 0.53
36 RG06 No significant results Exploration hole on SOLE-
-185 geophysical anomaly. DAD
37 RG06 54 364 310 0.50 0.013 0.58 Twin of 160m hole MARJA
-116 drilled by previous
Incl. 160 364 204 0.50 0.015 0.59 Interval below end of
previous hole.
38 RG06 0 64 64 0.52 0.017 0.63 Infill hole in RELI-
-187 northeast of NCHO
---------------------------- Relincho.
154 694 540 0.57 0.019 0.68
Incl. 220 250 30 0.86 0.033 1.06
39 RG06 208 250 42 0.43 0.024 0.57 100m step-out to east. RELI-
-186 NCHO
356 442 86 0.41 0.012 0.49
40 RG06 18 44 26 0.46 0.003 0.48 50m step-out to the LAS
-190 south of RG06-16. GUIAS
184 248 64 0.34 0.018 0.45
400 506 106 0.43 0.013 0.51
41 RG06 196 540 344 0.45 0.020 0.57 65m step-out to east RELI-
-188 of and below known NCHO
mineralization in
previous operator's
235m long hole
42 RG06 346 428 82 0.73 0.027 0.89 90m step-out to east. RELI-
-191 NCHO
Incl. 380 416 36 0.98 0.045 1.24
43 RG06 0 72 72 0.38 0.011 0.45 125m step-out hole LAS
-192 to the east of GUIAS
---------------------------- RG06-180.
398 568 170 0.41 0.020 0.53
44 RG06 168 608 440 0.42 0.033 0.62 85m step-out hole to LAS
-193 the southeast of GUIAS
---------------------------- RG06-183.
Incl. 370 492 122 0.55 0.052 0.86
45 RG06 0 176 176 0.49 0.014 0.57 65m step-out hole to
-020 the northeast of
---------------------------- RG06-193.
188 210 22 0.34 0.011 0.41
392 664 272 0.46 0.022 0.59
Incl. 540 590 50 0.76 0.042 1.01
46 RG06 234 320 86 0.35 0.013 0.49 200m step-out hole to LAS
-189 the east-southeast of GUIAS
---------------------------- RG06-193. The hole
364 619 255 0.67 0.057 1.01 ended at 619m due to
---------------------------- mechanical reasons with
Incl. 574 600 26 1.46 0.125 2.22 the last 5 meters
grading 0.56% Cu and
0.105% Mo (1.19%

(i) Diamond drill holes have been drilled from the bottom of previously
drilled RC holes (pre-collars). For that reason the number of the pre-
collar is not the actual order in which these holes were drilled as part
of the sulphide program. The first column indicates the sequence in which
the sulphide holes were drilled.

(ii) Copper equivalent is calculated for primary intervals using US$1.00/lb
Cu and US$6.00/lb Mo and is not adjusted for metallurgical recoveries as
these remain uncertain. The formula used is as follows:
CuEQ = Cu% + (Mo% x 6)

The deeper intersections of higher grade copper and molybdenum mineralization at Las Guias are related to the Relincho porphyry which has been intercepted by recent holes and was previously unknown in this area. The Relincho porphyry is the main driver of mineralization at Relincho and intersecting it at Las Guias suggests that the area of copper-molybdenum mineralization in this area may be significantly larger than previously thought.

The current objective of the sulfide drill program is to continue to step out eastwards, extending the Las Guias zone towards the previously drilled Marja zone to its west. Should the two connect, a large zone of continuous copper and molybdenum mineralization will be defined between Relincho and Marja, a distance measuring approximately 2.5 kilometers.

To date, 50 holes totaling 24,259 meters have been completed in the sulphide drill program. In June a third rig was mobilized to the project and the program is now forecast to continue until at least September 2007. On completion of the drill program the current NI 43-101 sulphide mineral resource estimate will be updated to include the results of the sulphide drill program.

The existing sulphide resource estimate, calculated in December 2003 prior to the current drilling program, delineated Measured and Indicated Resources of 174 million tonnes grading 0.59% copper and 0.024% molybdenum (0.73% copper equivalent (ii); 2.3 billion pounds copper; 97.4 million pounds molybdenum) and Inferred Resources of 100 million tonnes grading 0.51% copper and 0.017% molybdenum (0.61% copper equivalent(ii); 1.1 billion pounds copper; 37.9 million pounds molybdenum) at a 0.4% copper cutoff.

In addition, a NI 43-101 compliant copper oxide resource estimate was completed earlier this year after the completion of the oxide drill program. That resource estimate delineated Indicated Resources of 107 million tonnes grading 0.33% copper (778 million pounds copper) and Inferred Resources of 13 million tonnes grading 0.27% copper (77 million pounds copper) at a 0.2% copper cutoff.

The technical reports for the oxide and sulphide resource estimates can be viewed on both the Global website at and SEDAR at

Leo Hathaway, P.Geo., is the Qualified Person as defined by National Instrument 43-101 for the Relincho Project. The quality assurance/quality control program is monitored by independent consultant Dr. Bruce M. Davis, Chief Geostatistician for Norwest Corporation and managed on site by Patricio Valenzuela, a Chilean geologist with over 24 years of experience. Logging and sampling are completed at Global's secure facility located at the project. The drill cores are mechanically split on site and samples securely transported to the ACME's facilities in Santiago, Chile for sample preparation and analysis. Total copper content is determined by three-acid digestion with atomic absorption finish. Global inserts standards, blanks and duplicates selected on a random basis into the sample stream and sends 5% of the sample pulps to check laboratories in Santiago, Chile.

To view the map accompanying this press release please click on the following link:


David Strang, President & CEO

CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver, copper and molybdenum, the timing of exploration activities, the estimation of mineral reserves and mineral resources, the results of drilling, estimated future capital and operating costs, future stripping ratios, projected mineral recovery rates and Global Copper's commitment to, and plans for developing any of its projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Copper to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, silver, copper and molybdenum, as well as those factors discussed in the sections relating to risk factors of our business filed in Global Copper's required securities filings on SEDAR. Although Global Copper has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.

There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Global Copper does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

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