Monster Copper Corporation: Geochemical and Geophysical Surveys Outline Significant Laterite Nickel Target at Carapana, Brazil
Thursday January 11, 1:00 pm ET
RICHMOND HILL, ONTARIO--(CCNMatthews - Jan. 11, 2007) - Monster Copper Corporation (TSX VENTURE:MNS - News) is pleased to announce plans to drill test a nickel laterite target on the Carapana property, which is located in the Carajas Mineral Province of northern Brazil. The property forms part of an option with Xstrata Copper, which includes ongoing IOCG copper-gold exploration by Monster Copper.
The Carajas Mineral Province currently hosts three nickel laterite deposits, namely Onca-Puma, Jacare and Vermelho. Monster Copper's Carapana target is 50 km from the Onca Puma deposit and within the same belt of rocks, called the Catete Suite, a Paleoproterozoic sequence of mafic to ultramafic intrusive rocks. The Onca Puma deposit is reported as containing 110 Mt grading 1.72% Ni in saprolitic ore and 314 Mt grading 0.75% Ni in limonitic ore, and according to CVRD, is scheduled to commence production in 2008 ((i)source www.cvrd.com.br). The Jacare deposit has a reported resource of 430 Mt grading 1.33% Ni and is also within the Catete Suite ((i)source www.angloamerican.co.uk). The Niquel do Vermelho deposit contains 290 Mt of proven and probable limonitic ore at 0.8% Ni, with minor cobalt and copper ((i)source www.cvrd.com.br).
The target on the Carapana property consists of an eight square-kilometre area situated on a laterite plateau, interpreted to be underlain by mafic to ultramafic rocks of the Catete Suite. The target is characterized by a high magnetic signature coincident with low radiometric signature derived from data collected in an airborne survey completed by Monster Copper in 2004. In addition, soil geochemical data over the target reveals highly anomalous nickel (200-1815 ppm in a background of under 50 ppm), cobalt (100-477 ppm in a background of under 20 ppm) and chromium values (500-4540 ppm in a background of under 250 ppm). These geophysical and geochemical features are characteristic of nickel-bearing ultramafic rocks in the Carajas. An initial program of 15 to 20 diamond drill holes totalling 400 metres is planned to test the nickel target.
Monster Copper is pleased to be initiating exploration for another high value mineral deposit style in an area of demonstrated endowment. Continued partnership with Xstrata brings a high level of expertise to the project, with Xstrata having made a significant nickel laterite discovery south of the Carajas District.
Dr. Tom Setterfield, P.Geo., is the qualified person according to National Instrument 43-101 and is responsible for the technical information in this news release.
About Monster Copper Corporation
Monster Copper (www.monstercopper.com) is dedicated to the discovery of world-class IOCG copper-gold-uranium deposits with an experienced IOCG exploration team. In addition to the Brazilian property portfolio, Monster Copper is exploring its wholly-owned Aillik east property for uranium and has an agreement with Santoy Resources Ltd. (TSX VENTURE:SAN - News) also exploring for uranium on the Mustang Lake and Bruce River properties, in the Central Mineral Belt of Labrador.
MONSTER COPPER CORPORATION
Michael J. Downes, President, C.E.O. and Director
((i)The reserve figures quoted in this news release are sourced from CVRD and Anglo American. It is not known to what extent these figures conform to the requirements of National Instrument 43-101,and therefore they should not be relied upon. However, Monster Copper believes these figures provide a conceptual indication of the nickel laterite deposits in Carajas Mineral Province and are therefore relevant to a description of the targets being explored by Monster Copper.)
This news release may contain "forward-looking statements". These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
