VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2007) - Global Copper Corp. ("Global") (TSX:GLQ) is pleased to announce results from 11 additional holes in the sulphide drilling program at its Relincho copper-molybdenum project in Chile. The holes were all drilled in the Las Guias area. Results are highlighted by step-out hole RG06-202 that intersected 246 meters grading 0.38% copper and 0.051% molybdenum (0.85% copper equivalent(ii)) including 34 meters grading 0.88% copper and 0.117% molybdenum (1.50% copper equivalent(ii)).
Hole RG 06-202 extends the Las Guias zone to the south at depth. The holes represents a 50 meters step-out to the south of the area between holes RG 06-196 (reported below) and RG 06-189 which intersected 255 meters from 364 meters grading 0.67% copper and 0.057% molybdenum (1.01% copper equivalent(ii)) including 26 meters from 574 meters grading 1.46% copper and 0.125% molybdenum (2.22% copper equivalent(ii)).
These results show that there is continuity of higher grade copper and molybdenum mineralization at depth at Las Guias. Further step-out drilling is planned to investigate the size and extent of this zone of higher grade mineralization and to determine if it continues southeast towards the previously drilled Marja zone.
To date, 62 holes totaling 30,727 meters have been completed in the sulphide drill program. In June a third rig was mobilized to the project and the program is now forecast to continue until at least November 2007. On completion of the drill program the current NI 43-101 sulphide mineral resource estimate will be updated to include the results of the sulphide drill program.
The results from the latest 11 drill holes are shown in the table below:
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Sulphide Pre-
Drill Collar
Holes - Hole Cu CuEq
Order of Number From To Length Total Mo %
Completion(i) (i) (m) (m) (m) (%) (%) (ii) Comment
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47 RG06- 148 264 116 0.54 0.034 0.75 50m step out to
194 south of
---------------------------------- RG07-188
302 468 166 0.48 0.031 0.66 (previously
---------------------------------- released).
544 586 42 0.45 0.007 0.49
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48 RG06- 82 118 36 0.48 0.018 0.58 Infill drill
019 hole within
---------------------------------- the Las Guias
256 434 178 0.38 0.025 0.53 zone.
----------------------------------
412 434 22 0.39 0.033 0.59
----------------------------------
474 524 50 0.73 0.022 0.86
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49 RG06- 578 602 24 0.37 0.012 0.45 100m step out to
195 the north of
---------------------------------- hole RG07-
664 692 28 0.42 0.022 0.55 192 (previously
---------------------------------- released).
704 752 48 0.38 0.017 0.48
----------------------------------
764 823 59 0.38 0.013 0.46
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50 RG06- 330 464 134 0.43 0.014 0.51 Twin of 300m
021 hole drilled
---------------------------------- by a previous
638 705 67 0.60 0.022 0.73 operator and
step out to
depth.
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51 RG06- 200 394 194 0.59 0.051 0.90 Infill drill
077 hole within
---------------------------------- the Las Guias
484 622 138 0.46 0.024 0.61 zone.
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52 RG06- 304 354 50 0.37 0.013 0.45 Infill drill
196 hole within
---------------------------------- the Las Guias
410 512 102 0.53 0.021 0.66 zone.
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53 RG06- 210 366 156 0.54 0.024 0.68 Infill drill
197 hole within
---------------------------------- the Las Guias
504 660 156 0.46 0.014 0.54 zone.
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54 RG06- 80 98 18 0.46 0.008 0.53 50m step out to
038 south of
---------------------------------- RG07-199
220 256 36 0.34 0.017 0.44 (previously
---------------------------------- released).
284 320 36 0.37 0.026 0.53
----------------------------------
342 498 156 0.68 0.044 0.95
----------------------------------
574 618 44 0.28 0.031 0.47
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55 RG06- 436 598 162 0.348 0.027 0.51 50m step out to
198 the northeast of
---------------------------------- RG07-192 and
614 682 68 0.504 0.027 0.67 infill between
this hole
and RG07-195.
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56 RG06- 264 296 32 0.40 0.018 0.50 115m step out to
093 east of RG07-189
---------------------------------- (previously
368 488 120 0.53 0.024 0.68 released). Hole
---------------------------------- lost at 629m due
incl. 368 629 261 0.46 0.021 0.58 to mechanical
reasons.
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57 RG06- 330 386 56 0.38 0.051 0.68 50m step out to
202 south of
---------------------------------- previous
426 672 246 0.38 0.051 0.84 operator's holes
---------------------------------- and RG07-189;
incl. 504 538 34 0.88 0.117 1.50 also designed
to test the
southern margin
of Las Guias to
depth.
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(i) Diamond drill holes have been drilled from the bottom of previously
drilled RC holes (pre-collars). For that reason the number of
the pre-collar is not the actual order in which these holes were
drilled as part of the sulphide program. The first column
indicates the sequence in which the sulphide holes were drilled.
(ii) Copper equivalent is calculated for primary intervals using
US$1.00/lb Cu and US$6.00/lb Mo and is not adjusted for
metallurgical recoveries as these remain uncertain. The formula
used is as follows: CuEQ equals Cu% + (Mo% x 6)
The technical reports for the previously delineated oxide and sulphide resource estimates can be viewed on both the Global website at www.globalcoppercorp.com and SEDAR at www.sedar.com.
To view the map accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/GC1011.jpg
Leo Hathaway, P.Geo., is the Qualified Person as defined by National Instrument 43-101 for the Relincho Project. The quality assurance/quality control program is monitored by independent consultant Dr. Bruce M. Davis, Chief Geostatistician for Norwest Corporation and managed on site by Patricio Valenzuela, a Chilean geologist with over 24 years of experience. Logging and sampling are completed at Global's secure facility located at the project. The drill cores are mechanically split on site and samples securely transported to the ACME's facilities in Santiago, Chile for sample preparation and analysis. Total copper content is determined by three-acid digestion with atomic absorption finish. Global inserts standards, blanks and duplicates selected on a random basis into the sample stream and sends 5% of the sample pulps to check laboratories in Santiago, Chile.
GLOBAL COPPER CORP.
David Strang, President & CEO
CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver, copper and molybdenum, the timing of exploration activities, the estimation of mineral reserves and mineral resources, the results of drilling, estimated future capital and operating costs, future stripping ratios, projected mineral recovery rates and Global Copper's commitment to, and plans for developing any of its projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Copper to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, silver, copper and molybdenum, as well as those factors discussed in the sections relating to risk factors of our business filed in Global Copper's required securities filings on SEDAR. Although Global Copper has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Global Copper does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Global Copper Corp.
David Strang
President & CEO
(604) 687-0407
(604) 687-7041 (FAX)
Email: dstrang@northernperucopper.com
Website: www.globalcoppercorp.com
