MILFORD, UT -- 11/03/09 --
Copper King Mining Corporation (PINKSHEETS: CPRK) ("Copper King" or the "Company") is pleased to announce that it has
completed production of in excess of 500 tons of concentrates from its
Milford, Utah mill, and is presently preparing to ship another 250 tons of
concentrate to the receiving smelter. Gold values in the concentrates have
averaged from 0.18 to 0.24 ounces per ton, while silver has averaged 18 to
22 ounces per ton of concentrate. Copper has ranged from as high as 45%,
while the shipped average is somewhat lower. The Company expects to
substantially increase concentrate production by adding a six-cell
conventional cleaner bank to clean the concentrate and a six-cell rougher
bank to re-filter the tails discharge line.
As announced in its October 20, 2009 press release the Company is also
continuing with its drilling program, and has encountered significant high
grade mineralization, up to 11% copper, most recently in its exploration
drilling at the Bawana Extension project. This drilling is designed to
develop near-surface mineable reserves that can be immediately mined and
sent to the Company's nearby mill for processing. Substantial unexpected
near surface mineralization has been encountered on strike with the
original Bawana deposit from a depth of zero to 120 feet.
The Company is also making plans to open underground operations at its
Eagle mine located near the Comet Breccia, on the western end of its
mineral holdings. The Company expects that additional high grade gold,
silver and copper ores will help boost the mill feed gold and sulfur
content.
"We are excited to report progress in our production along with the recent
drilling and discovery of additional, shallow high-grade mineralization so
close to our mill and so accessible at the extension of the Bawana pit,"
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 Bawana Extension and opening up operations at the Eagle
mine represent the continuation of the Company's plan to methodically
explore and exploit its mining claims in the large area in the Milford
Mineral Belt while ramping up production at the mill. 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.
Contact
Investor Relations:
Charles A. Moskowitz
617-633-2259
Email Contact
