TORONTO, April 04, 2019 (GLOBE NEWSWIRE) — VVC Exploration Corporation (“VVC” or the “Company”) (TSX-V:VVC) is today releasing additional data specific to the Concha Zone which forms part of the updated Resource Estimate (“Resource Estimate”) contained in the News Release of March 21, 2019.
La Concha Zone
The Concha Zone of VVC’s Samalayuca Copper Project is shown expanded from Figure 1 below with the associated Resource Estimate data displayed in Table 1 below.
The Resource Estimate for La Concha is 21.03 million pounds indicated and 31.05 million pounds of copper inferred. This compares with no pounds indicated and 41.8 million pounds inferred in the earlier estimate for the entire Samalayuca Project.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
Figure 1 – Area of Samalayuca Project covered by the Resource Estimate announced in the March 21, 2019 News Release. The diagram includes three-dimensional rendering of the areas included in the Resource Estimate, including La Concha (in the upper left)
Drilling at La Concha in the 2017/18 drilling campaign was limited and the zone appears to be open to the north west, southwest and at depth with further drilling / exploration a priority to define additional copper resources.
VVC President Jim Culver commented, “This updated Resource Estimate is just the beginning. More exploration is required, however the Resource Estimate gives us (i) data leading us toward considering the possibility of a Pilot Mine should the economic viability and technical feasibility be established, (ii) a roadmap for further exploration, and (iii) an idea of the overall prospects of the Samalayuca Project.”
The Base Case of the Resource Estimate, at a cut off of 0.15% copper, gives: indicated – 21.03 million pounds of copper; inferred – 36.15 million pounds of copper, with La Concha representing 35% of the Indicated Resource and 40% of the inferred Resource, as reported in our Press Release of March 21, 2019. As La Concha represented only 10% of the drill holes (6 of 60), the area requires further exploration to better define the resource especially since the Zone is open to the West, East, South and at depth, thereby greatly increasing the potential for a significant increase in mineralization.
A sensitivity analysis of the mineral resource was completed at various cut-off grades from 0% to 0.30% Cu with the Base Case determined to be at 0.15% cut-off grade. Base Case Copper results for La Concha are shown in Table 1 below.
| Indicated | Inferred | Indicated | Inferred | ||||
| (Mt) | Cu (%) | Cu (Kt) | (Mt) | Cu (%) | Cu (Kt) | Cu (M Lbs) | Cu (M Lbs) |
| 3.162 | 0.302 | 9.538 | 6.151 | 0.267 | 16.397 | 21.03 | 36.15 |
Table 1: Copper Resource Estimate for La Concha Zone
Summary of Resource Estimate
The 2019 Resource Estimate was submitted via a draft NI 43-101 technical report received on March 20, 2019. The final report (the “Report”) will be delivered and filed on SEDAR on or before May 4, 2019. The Resource Estimate includes data gathered from the 2017/2018 drilling (see news release of January 30th, 2019) and was prepared by Jacques Marchand P. Eng. Geology, a qualified, and independent person as defined under National Instrument (NI) 43-101. A previous Resource Estimate was prepared by Michel Boily, Ph.D., P., Geo. in 2013 and was included in a NI 43-101 technical report dated April 20, 2013.
Technical Oversight
The technical and scientific content of this press release has been reviewed and approved by Jacques Marchand P. Eng. Geology, as the independent qualified person responsible for the resource calculations and associated National Instrument (NI) 43-101 report, and Peter M. Dimmell, BSc., P.Geo. (NL, ON), VVC Director and Qualified Person as defined by NI 43-101.
The 2019 mineral resource estimate was prepared using MapInfo and Discover software. Discover was used for 3D modelling of the eight mineralized zones, for grade estimation and for block modelling. Statistical studies were done using Microsoft Excel software. The estimate was performed using 3D block modelling with the Inverse distance weighting interpolation method.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company focused on the exploration and development of copper and gold deposits in Northern Mexico, mainly the Samalayuca copper property in northern Chihuahua State. VVC has other projects in Mexico and Canada, including gold / silver prospects, Cumeral and La Tuna, in Sonora and Sinaloa States, Mexico and a grassroots gold/VMS prospect in the Timmins area of northern Ontario.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
| For further information, please contact: | ||||
| Patrick Fernet – (514) 631-2727 E-mail: [email protected] | or | Eugene Braigen – (646) 245-3409 E-mail: [email protected] | ||
| Or visit our website at: http://vvcexpl.com. | ||||
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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