NEW YORK, NY--(Marketwire - Feb 11, 2013) - Trilliant Exploration (
Jared Lazerson, CEO of Copper Island Mines Ltd, said, "This is a positive step in confirming previous work and is consistent with reports of chalcocite mineralization in both grade by percentage of copper and direct correlation with silver. With 3.5m tonnes grading 2%, an equivalent In Situ value at today's prices of approximately $500 million based on historical estimates. At 5.7% copper on a per ton basis at today's copper prices, we are looking at approximately $440 per ton processed which has the potential of being very profitable," he added.
Copper Island Mines Ltd. is in the process of working with the necessary personnel for the NT43-101 which will independently verify the mineralization of high grade copper. The Project and its rights and claims are located 15km NW of Campbell River, British Columbia. Copper Island Mines Ltd. is the operator of a 3000 hectare property which is known for high grade chalcocite mineralization. The area has been under regular development and small scale production since 1915. The area contains one of the highest densities of copper prospects in British Columbia and is rated high for mineralization by the BCGS (British Columbia Geographic System). Initial exploration on the Property was conducted by Dodge Copper in 1954 when 145 percussion holes were drilled outlining the Pomeroy areas. Exploration in the 1970s by Prince Stewart Mines and Quadra Mining resulted in a historic reserve estimate of 3.5 metric tons grading 2% copper. Exploration in the 1990s resulted in a historical resource estimate from all occurrences of 5.3Mt grading 1.98% copper, and is used for historical reference purposes only.
The Company has accepted the resignation of William Lieberman as President and appointed Eric Radtke as President effective immediately to helm the next phase of Trilliant Exploration on the road to 43101 and copper production. Mr. Radtke has had an extensive career in international business and has worked throughout Asia in countries such as China, Taiwan, Thailand and Singapore. He has overseen sales, manufacturing and operations and project management for Fortune 500 companies. Mr. William Lieberman will continue his efforts in sourcing mineral and rare earth projects globally for the benefit of the Company and for other exploration endeavors.
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This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
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