The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
CS: TSX
Vice Chairman, CEO: Darren Pylot
President, COO: Stephen Quin
Vice President, Exploration - Canada: Brad Mercer
Capstone Mining Corp., founded in 1987 in British Columbia, is primarily focused on operating, expanding and exploring the company's two producing copper mines, including the Minto copper-gold-silver mine in central Yukon Territory.
Capstone also aims to grow both organically and through mergers and acquisitions: organic growth through continued mineral resource and reserve expansions at its operating mines and through the development of its high-grade Kutcho copper-zinc-gold-silver deposit in northwestern British Columbia, while mergers and acquisitions provide opportunities to accelerate that growth profile.
In 2009, Capstone reported drill results from the Minto North discovery at the Minto Mine Phase 1 drill program that include exceptional high-grade copper-gold intercepts over significant thicknesses - the best intercepts ever drilled on the Minto Mine property in 35 years of exploration.
The company began a phase 2 drill program on Minto North in late June, with the objective of upgrading the mineralization at Minto North to standards suitable for detailed mine planning.
Capstone also reported assay results for exploration drill holes completed in areas south of the Minto Mine open pit, including several high-grade copper-gold intersections from the southeast portion of the Ridgetop deposit, an area not previously known for high-grade mineralization.
The producer also posted a National Instrument 43-101-compliant mineral resource estimate for the Minto Mine, which includes increases in resources of all of Minto's deposits.
Capstone also said in August that it completed 56 infill drill holes at Minto North, with the results for the first 20 holes confirming the high-grade nature of the Minto North deposit.
Capstone also reported a robust, high-grade resource for the Kutcho Project with a measured and indicated mineral resource of 10.4 million metric tons grading 2.1 percent copper, 2.8 percent zinc, 0.4 grams per metric ton gold and 32 g/t silver. The explorer also began an internal evaluation of options for the development of a smaller-tonnage, higher-grade mining operation at Kutcho, likely with underground extraction of the ore.
Cash and short-term deposits:
C$76.7 million (at June 30, 2009)
Working capital: C$111.6 million (at June 30, 2009)
Market capitalization: C$603.4 million
9th floor, 999 West Hastings St.
Vancouver, BC
Canada V6C 2W2
Tel: 604-639-0394
Fax: 604-688-2180
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