CRC.L Regulatory News (CRC)

7 Feb 2006 07:00

0700hrs 7th February 2006 COPPER RESOURCES CORPORATION ("CRC") COMPLETION OF 25% OF HINOBA-AN (PHILIPPINES) INFILL DRILLING PROGRAMME POINTS TO 10% IMPROVEMENT IN OVERALL GRADE COPPER RESOURCES CORPORATION ("CRC") HighlightsThe 15 holes thus far completed of the infill drilling programme on the DJPor-phyry Copper Deposit, which represent almost 25% of the total of 62 to bedrilled, were chosen to test the central portion of the deposit containing thebest copper grades. Assay results show that: * mineralisation continuity and limits along completed sections generally confirms results of the 1998 scoping study; * top of mineralisation is at a depth of 6-9 metres, which is an improvement on the results of the scoping study in which the first 15 metres below the surface was discounted and not assayed; * overall improvement in the scoping study grades in the vicinity of the new holes could be in the order of 10%, which will be verified by modelling and resource estimations when approximately half the programme is completed in approximately six weeks; and the entire infill drilling programme is expected to be completed by the end of May. Drilling ResultsFinal assay results have now been received for holes CDD-005 to CDD-014 andCDD-016, with approximately 25% of the planned programme of 62 holes now beingcompleted. Intersections from these holes, in addition to those from holesCDD-001 to CDD-004 as released earlier are listed in Table 1 below.These holes have been collared near the centre of the DJ Porphyry CopperDeposit, and are part of a programme of 11,800m in 62 holes designed to infillthe 59,000 metres of earlier drilling. The holes are being drilled at 50mcenters along grid east-west section lines intermediate to the 100m spacedlines of previous workers, to give a final drillhole spacing of approximately50m x 50mOne of the purposes of the current drilling is to confirm the continuity,limits and grade of mineralisation as interpreted from previous work. To datedrilling has been completed on two cross sections, 1550N and 1650N, bothlocated near the centre of the DJ mineralisation, with drilling continuing onadjacent sections.The results from holes on the completed sections support the interpretations ofprevious work, confirming that the western and eastern margins of the systemare diffuse with a gradual reduction in copper grade, with the base of themineralisation being faulted and exhibiting a sharp grade cut-off. Coppergrades within the porphyry mineralisation exhibit good continuity.A preliminary analysis indicates that generally Cu assay results are at leastas good as, and in some cases an improvement on calculated grades on thesesections. It is possible that the resource grade may be increased by up to 10%,however no definite conclusion can be made until modelling and preliminarygrade estimation work is carried out when approximately half the drillingprogramme is completed.More notable intersections in the current programme include 207m at 0.50% Cufrom 3m in hole CDD-001, 165m at 0.49% Cu from surface in hole CDD-004, 189m at0.55% Cu from 9m in hole CDD-007, 210m at 0.45% Cu from 6m in hole CDD-008 and174m at 0.50% Cu from 3m in hole CDD-010.Previous work on the deposit generally discounted the top 15 metres, withassaying generally not being carried out in this zone. One of the aims of thecurrent work programme is to ascertain the potential of this zone; the latestresults indicate that from approximately six to nine metres below the surfacemineralisation is present and continuous.Table 1: Cu IntersectionsHole Interval Length Cu% CDD-001(1) 3m to 210m 207 0.50 including(2) 24m to 39m 15 0.86 including(2) 45m to 60m 15 0.65 including(2) 156m to 171m 15 0.73 including(2) 177m to 195m 18 0.63 CDD-002(1) 6m to 141m 135 0.44 including(2) 57m to 96m 39 0.71 CDD-003(1) 9m to 126m 117 0.45 CDD-003(1) 144m to 174m 30 0.33 CDD-004(1) 0m to 165m 165 0.49 including(2) 3m to 30m 27 0.70 including(2) 51m to 66m 15 0.61 including(2) 111m to 153m 42 0.62 CDD-005(1) 9m to 66m 57 0.46 CDD-005(1) 78m to 219m 141 0.44 including(2) 87m to 153m 66 0.51 including(2) 162m to 177m 15 0.53 CDD-006(1) 15m to 54m 39 0.83 including(2) 15m to 51m 36 0.87 including(3) 15m to 21m 6 1.81 CDD-006(1) 69m to 204m 135 0.47 including(2) 69m to 99m 30 0.55 including(2) 171m to 189m 18 0.62 CDD-007(1) 9m to 198m 189 0.55 including(2) 9m to 27m 18 0.66 including(2) 39m to 96m 57 0.61 including(2) 120m to 183m 63 0.66 CDD-008(1) 6m to 216m 210 0.45 including(2) 6m to 27m 21 0.67 including(2) 39m to 57m 18 0.54 including(2) 108m to 123m 15 0.60 including(2) 159m to 192m 33 0.51 CDD-009(1) 15m to 108m 93 0.26 CDD-009(1) 141m to 189m 48 0.24 CDD-010(1) 3m to 177m 174 0.50 including(2) 3m to 30m 27 0.65 including(2) 48m to 93m 45 0.67 including(2) 105m to 132m 27 0.56 CDD-012(1) 3m to 63m 60 0.45 including(2) 3m to 36m 33 0.58 CDD-012(1) 72m to 114m 42 0.47 CDD-013(1) 3m to 57m 54 0.53 including(2) 6m to 27m 21 0.71 CDD-014(1) 42m to 78m 36 0.30 CDD-016(1) 6m to 66m 60 0.40 CDD-016(1) 99m to 141m 42 0.46 including(2) 111m to 141m 30 0.54 (1) Calculated using a 0.20% Cu cutoff(2) Calculated using a 0.50% Cu cutoff(3) Calculted using a 1% Cu cutoffFuture ProgrammeThe Bankable Feasibility Study which sets out a programme of 62 holes to amaximum depth of 300m is on schedule to be completed by December 2006.This press release is based on information compiled by Mr. Mark Gordon, a fulltime employee of CRC and a Member of the Australasian Institute of Mining andMetallurgy who qualifies as a Competent Person as defined in the 2004 editionof "The Australasian Code for Reporting of Exploration Results, MineralResources and Ore Reserves". Mr. Gordon has given consent to the inclusion inthis press release of matters based on this information in the form and contextin which they appear.Aged 49, Mr. Bru has over 20 years wide-ranging experience in finance andaccount-ing in a variety of industries in Australia, Asia and Africa. Mr. Bruis conversant in both English andChris Jordinson, CRC's CEO, stated: "Elia Crespo has done an excellent job, butwith projects in Congo, Namibia and the Philippines, the time differenceFor further information please contact: Copper Resources Nabarro Wells & Westhouse GTH Corporation Co. Securities Communications Mitchell Alland Keith Smith Richard Morrison Toby Hall Executive Vice Chairman +44 (0) +44 (0) +44(0) +44 (0) 77 4801 8690 20 7710 7400 20 7601 6100 20 7153 8035 COPPER RESOURCES CORPORATION