Catalyst Copper has announced that they retained an engineering firm to review the historical data at the La Verde copper project in Mexico and prepare a compliant 43-101 technical report.
In the NI 43-101 technical report, Micon states it is of the opinion the La Verde property is a Property of Merit and recommends a success contingent phased exploration program. The Phase One program includes a deep level IP survey, 5,000 meters of confirmation drilling, block model creation, mineral resource estimation, and the generation of a technical report. Phase Two would involve both drill definition of the known zones and step-out drilling to test numerous geophysical and geochemical anomalies immediately adjacent to the La Verde zones. Phase Two includes 25,000 meters of drilling that would culminate in a second mineral resource estimate and technical report.
The last publically released historic mineral resource indicated that there is over 1 billion pounds of copper. This data was included in the 1972 feasibility study completed on behalf of Lytton Minerals Ltd. and was calculated prior to the enactment of NI 43-101. Micon considers the historical estimates at La Verde to be relevant today, as defined in NI 43-101, Item 2.4.
Micon believes that it is reasonable for Catalyst to rely on these historic mineral resources and the potential to discover more mineralization as justification for its proposed acquisition and exploration program of the La Verde property.
Catalyst is our top developing copper pick for 2010.
