Toronto, Ontario–(Newsfile Corp. – November 27, 2017) – Crown Mining Corp., (TSXV: CWM) (“Crown” or the “Company“) is pleased to announce that it has retained Tetra Tech to complete a Preliminary Economic Assessment (“PEA”) on its 100% controlled Moonlight-Superior Copper Project in Northeast California.
A PEA, as defined under the terms of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101), is an economic analysis intended to comment on the potential viability of a mineral project. A PEA analyzes and assesses geological, engineering, and economic factors to reach its conclusions. Results of the PEA are anticipated by the end of the 1st quarter, 2018.
Tetra Tech, Inc. is a leading provider of consulting and engineering, program management, construction, and technical services to the natural resource extraction industry with 16,000 associates worldwide. Tetra Tech has been serving North America’s mining and minerals industry for 50 years and has worked at hundreds of mine sites, exploration projects and prospects. For more information about Tetra Tech, please visit tetratech.com.
Crown’s President & CEO, Stephen Dunn commented: “With the recent rally in copper prices, the time is right to develop a model that clearly demonstrates the economic value of this resource. We are looking forward to working with Tetra Tech, and drawing upon the extensive knowledge of their team.”
The Moonlight-Superior Copper Project in Northeast California includes four known copper deposits, three of which host the following National Instrument 43-101 (“NI 43-101”) resources:
|(tons in brackets)||(%)||(pounds)|
|Moonlight (Indicated)||146 million (161mm)||.324||1.04 billion|
|Moonlight (Inferred)||88 million (88mm)||.282||496 million|
|Superior (Inferred)||54 million||.41||487 million|
|Engels – oxide (Inferred)||2.5 million||1.05||60 million|
The PEA will be done solely on the Moonlight deposit. Further details of the Moonlight resource can be found in the Technical Report on the Moonlight Copper Property dated April 12, 2007 at Sedar.com. Further details of the Superior and Engels resource can be found in the Technical Report on the Superior Project dated November 7, 2014 filed on SEDAR which also discloses a historical resource estimate for the fourth deposit.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crownminingcorp.com.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, Crown Mining Corporation (416) 361-2827 or email [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company’s management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.
This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The flow-through common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.