Global Copper Corp.

Global Copper Corp.

June 20, 2008 14:08 ET

Global Copper Reports Results From Ten Further Drill Holes at Relincho Including 756 and 626 Meters Grading 0.74% and 0.76% Copper Equivalent(ii)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 20, 2008) - Global Copper Corp. ("Global") (TSX:GLQ) is pleased to announce results from a further ten holes in the sulphide drilling program at its Relincho copper-molybdenum project in Chile. Results are highlighted by step-out holes RG06-224 which graded 756 meters grading 0.59% copper and 0.025% molybdenum (0.74% copper equivalent(ii)) including 128 meters grading 0.81% copper and 0.068% molybdenum (1.22% copper equivalent(ii)) and RG08-231 that returned 626 meters grading 0.57% copper and 0.031% molybdenum (0.76% copper equivalent(ii)).

The latest batch of drill holes were primarily located to expand the area between Relincho and Las Guias to the south, north and to depth (four holes), explore the Las Guias Zone to the east and to depth (three holes) and connect the Las Guias and Marja zones (three holes). The long intercepts of copper-molybdenum mineralization encountered in all of the step-out and infill holes attest to the continuity of the mineralization.

These holes confirm that mineralization at Relincho occurs in a broad envelope centered on the contacts of a porphyry copper intrusion that occurs at surface at Relincho, at depth at Las Guias and is interpreted to exist below the base of the present drilling at Marja. There is insufficient geological information to calculate true widths of drill intercepts.

The assay results from the ten new holes are shown in the table below. A map is provided to show the location of the drill holes.

(i)Order (i)Pre-
Sulphide Collar
Holes Hole From To Int. Cu Mo CuEq
Completed Number (m) (m) (m) (%) (%) %(ii) Comment
92 RG08-224 216 972 756 0.59 0.025 0.74 Step-out hole,
incl 618 746 128 0.81 0.068 1.22 110m east of
RG07-214 on the
eastern margin of
Las Guias
93 RG08-222 286 332 46 0.57 0.029 0.75 Infill hole, 110m
and 354 444 90 0.41 0.022 0.54 to the east of
and 496 590 94 0.5 0.022 0.64 RG07-197, 150m
and 634 662 28 0.49 0.027 0.66 west of RG07-195
and 100m south of
RG07-218, located
in the northern
part of the area
between Relincho
and Las Guias.
94 RG07-230 340 620 280 0.51 0.04 0.75 Step-out hole,
incl 540 596 56 0.83 0.089 1.36 150m east of
and 668 812 144 0.58 0.036 0.78 RG07-213 on the
eastern margin of
Las Guias. The
final interval is
open at depth.
95 RG08-231 270 896 626 0.57 0.031 0.76 Step-out hole,
and 658 786 128 0.94 0.066 1.34 100m east of
RG06-093 on the
eastern margin
of Las Guias
96 RG08-232 36 214 178 0.48 0.055 0.81 Infill hole,
incl 134 168 34 0.78 0.09 1.32 100m east of
and 344 600 256 0.49 0.023 0.62 RG07-208, 330m
and 668 726 58 0.39 0.025 0.54 west of RG07-216
and 65m south of
RG07-194, located
in the southern
part of the area
between Relincho
and Las Guias.
97 RG07-233 118 170 52 0.45 0.011 0.51 Step-out hole,
and 206 336 130 0.5 0.02 0.62 150m east of
and 420 560 140 0.39 0.008 0.44 RG06-052, in the
and 610 716 106 0.43 0.021 0.56 area between Las
and 746 892 146 0.39 0.028 0.55 Guias and Marja.
98 RG07-235 366 434 68 0.42 0.022 0.55 Infill hole,
and 478 658 180 0.73 0.041 0.98 located 100m west
incl 498 588 90 0.96 0.066 1.35 of RG07-202, 50m
north of RG07-216
and 310m east of
RG-07-194, in the
southern part of
the area between
Relincho and
Las Guias.
99 RG07-028 50 282 232 0.43 0.027 0.6 Infill hole, 60m
and 316 350 34 0.44 0.045 0.71 west of RG07-208
and 498 610 112 0.43 0.014 0.51 and 50m south of
RG07-194. Located
in the southern
part of the area
between Relincho
and Las Guias.
100 RG06-079 0 300 300 0.5 0.027 0.57 Infill hole,
located between
RG06-025 and
150m from each),
in the area
between Las Guias
and Marja.
101 RG06-026 484 887 403 0.57 0.032 0.76 Infill hole,
incl 572 634 62 0.88 0.061 1.24 located between
holes RG06-030
and RG06-25 and 50m
north of RG06-031,
in the area
between Las Guias
and Marja.
(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 sulphide 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 equals Cu% + Mo% x 6. All intervals are in sulfide mineralization
unless otherwise noted.

To date, 107 holes totaling 68,921 meters have been completed in the sulphide drill program.

The 43-101 technical report, detailing the current oxide and sulphide mineral 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 and has reviewed and approved the contents of this news release. 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.

NOTE: To view the map associated with this release, please click 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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