Stocks & Investing
Stocks and Investing
Stocks and Investing
Wed, June 24, 2009
Tue, June 23, 2009 Copper King Mining: Copper King Announces High-Grade Drilling Results for the Road Project
MILFORD, UT--(Marketwire - June 23, 2009) - Copper King Mining Corporation (
The Road Project lies east of the Copper Ranch Project area, and was first discovered by shallow drilling beneath the alluvium at the side of the road. Ongoing drilling is conducted using two drill rigs owned by the Company, and the mineralization is open in all directions. A geophysical survey also shows a magnetic anomaly, similar to those found in other areas of mineralization, lying to the southwest over a length in excess of 1,600 feet.
The Company also announces that it has taken, along with its wholly-owned subsidiary, Western Utah Copper Company ("WUCC"), all corporate action necessary to complete the conversion of WUCC into corresponding shares in Copper King, thus completing the final step in the merger of WUCC into Copper King. The former individual shareholders of WUCC will be receiving their shares in Copper King as soon as final transfer agent documents are completed. It should be noted that these shares are already included in the current authorized and outstanding totals and results in no further dilution.
The Company also reminds interested parties that the new website address is [ www.WUCCompany.com ].
SELECTED DRILL HOLE INTERVALS HOLE # INTERVAL DEPTH FROM DEPTH TO COPPER ------ -------- ---------- -------- ------ 30/74 15' 90 105 4.12% 50' 130 180 2.18% 30/75 75' 140 215 4.30% 52/29 55' 170 225 4.00% 63/30 45' 165 210 3.63% includes 5' 19.40% 72/41 95' 105 200 2.58% 73/41 35' 65 100 1.90% 40' 130 170 3.50% 73/74 75' 105 180 2.70% 73/83 45' 80 125 2.90%
"We are excited to report the drilling and discovery of new, shallow high-grade mineralization so close to our mill," said Mark D. Dotson, President and CEO of Copper King. "We believe that the ongoing drilling, together with ramping up production at the mill, will add to our strength and provide additional growth for the Company. Drilling at the Road Project represents one component in the Company's plan to methodically explore its mining claims in the large area in the Milford Mineral Belt. Our plan is to continue to explore the upside potential of the entire Milford District."
About Copper King
Copper King controls over 59,000 acres of advanced-stage and development-stage mineralized acreage in Western Beaver County, Utah. The Company is ramping up production at a 5,000 ton per day capacity flotation mill for processing high-grade ores from its Hidden Treasure copper-gold-silver mine and other controlled properties under its control. Copper King is led by an experienced management team focused on exploration and production using traditional and new technologies.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause our expectations and beliefs about our plans to commence production, our plans to drill or our drilling results to fail to materialize: general world economic conditions; availability of capital; unfavorable geologic conditions; the complexity of exploration and production; prevailing prices for commodities, and general regional economic conditions. Copper King assumes no obligation to update the information contained in this press release.
