| September 21, 2009 Capstone Reports Final High Grade Copper-Gold Results From Minto North Infill Drilling | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hole 09SWC511 intercepts 3.3% Cu & 2.0g/t Au over 22.4m (including 6.4% Cu & 3.0g/t Au over 7.2m) Hole 09SWC527 intercepts 19.9% Cu & 4.8g/t Au over 2.0m (including 39.6% Cu & 0.65g/t Au over 1.0m) VANCOUVER, BRITISH COLUMBIA - Capstone Mining Corporation (CS: TSX) today announced assay results from the remaining twenty-five drillholes completed as part of the "Minto North" mineral resource infill drill program at its high grade Minto copper-gold mine in the Yukon. These most recent drill intercepts from the Minto North deposit, which is located 600 metres north-northwest of the current open pit mine, increase Capstone's confidence level in the previously announced mineral resource estimate. These results confirm the geological model that was the basis of the initial mineral resource estimate and provide infill data from holes drilled between prior holes, all of which should support a more robust classification of these resources. An updated mineral resource estimate for Minto North is in progress and will be incorporated into the Phase IV expansion study which is currently underway. Highlights of assays from these most recent drillholes are summarized in the table below and the full results for the twenty-five holes released today are provided in the attached table.
Latest Highlights from Minto North Drilling
* Estimated true thickness in parenthesis
"The five holes highlighted above once again illustrate the high grade nature of the Minto North deposit," said Stephen Quin, President & COO of Capstone. "Of equal importance is the confirmation of continuity within the high grade core of the Minto North deposit and within the near surface, moderate grade and thick mineralized horizon in the eastern half of the deposit. Combined, this should result in a robust resource estimate that is largely in categories that may be included as reserves within the pre-feasibility study currently in process." Minto North Deposit Capstone previously announced a preliminary mineral resource estimate for Minto North on June 9, 2009. The aim of this subsequent infill drill program was to boost confidence in this estimate, sufficient to support a conversion to mineral reserves if economic factors warrant by demonstrating both continuity of grade and thicknesses. A new mineral resource estimate is in progress and will be incorporated into the Minto Phase IV expansion study. Results for this final batch of 25 holes marks the successful conclusion of the infill program and brings to 86 the number of drillholes delineating this deposit, up from 31 which was the basis of the initial mineral resource estimate. With a 177% increase in the number of drill holes over the original model and using a drillhole spacing similar to that which supports the definition of measured & indicated mineral resources and mineral reserves elsewhere at the Minto Mine, Capstone believes it has the confidence level required for a conversion of these mineral resources to mineral reserves, should economic factors warrant. For current drillhole locations please view the accompanying map: http://www.capstonemining.com/i/photos/minto/2009-33MintoDrillResultsUpdate.jpg For an inset view of drill results at Minto North please view the accompanying map: http://www.capstonemining.com/i/photos/minto/2009-33MintoNorthDrillResultsDetails.jpg For further information about Capstone, please contact: Darren Pylot, Vice Chairman & CEO, Stephen Quin, President & COO Or Investor Relations' Mark Patchett at (604) 684-8894 or (866) 684-8894 info@capstonemining.com The TSX does not accept any responsibility for the adequacy or accuracy of this press release. Quality Assurance The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Stephen P. Quin, P. Geo., President & COO for Capstone Mining Corporation. The exploration activities at the Minto project site are carried out under the supervision of Brad Mercer, P. Geol., V.P. Exploration (Canada) for Capstone. The analytical method for the copper and silver analyses is aqua regia digestion of the samples followed by atomic absorption spectroscopy. Gold is analysed by fire assay fusion with atomic absorption spectroscopy finish for gold. Analyses are carried out by ALS CHEMEX in North Vancouver. When visible gold is noted in drill core samples or regular fire assay values appear abnormally high, the pulp and screen metallic assay method is used to determine the total gold content and gold contents of different size fractions. This is considered industry best practice when dealing with coarse gold mineralization where a nugget effect is suspected. This determination is accepted as the most representative value and is used in the assay database for mineral resource calculations. Blank and standard samples are used for quality assurance and quality control. Where more than two check samples assay outside expected ranges, the entire batch is re-assayed. After the completion of planned drill programs at Minto, random check assays will be carried out by Inspectorate America Corporation. Forward-Looking Statements This document may contain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). These forward-looking statements are made as of the date of this document and Capstone Mining Corp. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words 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 statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of mineral resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that 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.
Details of Minto North (only) Drill Results
* Estimated true thickness in parenthesis
To accompany Capstone Mining News Release Dated September 21, 2009
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