Trilliant Exploration Signs Definitive Agreement With Copper Island Project
16 Janeiro 2013 - 11:00AM
Marketwired
Trilliant Exploration Corporation (OTCQB: TTXP) ("Company") reports
that the company and Copper Island Mines Ltd. ("Copper") have
signed a definitive agreement for Trilliant to complete the
acquisition of a 20% interest in Copper Island's Quadra Island
Project ("Project") for Thirty Million shares of Trilliant's common
stock.
Mr. Jared Lazerson, Chief Executive Officer of Copper Island
Mines, stated, "The historic resource estimate (non-NI 43-101
compliant) for the Copper Island Property is 3.5 million metric
tons grading 2% copper. With today's prices in place, the potential
in situ resource is just over 500 million dollars. In October of
2011, Copper Island's board authorized management to proceed with
the Copper Island Project and begin the acquisition process with
TTXP. We intend to continue working closely with TTXP in bringing
the historical resource into modern NI 43-101 compliance, and
moving forward on confirmatory exploration with the goal, based on
a sufficient resource, of commencing production by mid-2014 under
the BC Small Mines Act."
The Project is located 15km NW of Campbell River, British
Columbia. Copper Island Mines Ltd. is the operator of a 3000
hectare property which is known for high grade chalcocite
mineralization. The area has been under regular development and
small scale production since 1915. The area contains one of the
highest densities of copper prospects in British Columbia and is
rated high for mineralization by the BCGS (British Columbia
Geological Service). Initial exploration on the Property was
conducted by Dodge Copper in 1954 when 145 percussion holes were
drilled outlining the Pomeroy areas. Exploration in the 1970s by
Prince Stewart Mines and Quadra Mining resulted in a historic
reserve estimate of 3.5 metric tons grading 2% copper. Exploration
in the 1990s resulted in a historical resource estimate from all
occurrences of 5.3Mt grading 1.98% copper. These estimates are used
for historical reference purposes only and while produced by
qualified engineers of their day are not compliant under NI 43-101.
Copper Island Mines Ltd. is in the process of working with
independent Qualified Persons, as defined by NI 43-101, to produce
a NI 43-101 compliant resource estimate regarding the copper
mineralization at Copper Island.
The company will file an 8k today outlining the transaction.
About Trilliant Exploration (OTCQB: TTXP)
http://www.trilliant-exploration.com Trilliant Exploration is
focused on a variety of strategic mineral acquisitions including
Copper and well positioned to capture the next wave in mineral
exploration, lithium and rare earth metals. Trilliant Exploration
is a US based, high growth mining company focused on adding value
through successful exploration, project development, efficient
operations, and opportunistic acquisitions. Maintaining a low risk
profile through project diversification, astute financial
management and operating in secure jurisdictions are key priorities
for Trilliant Exploration's Management team.
Forward-Looking Statements This press release may contain
certain forward-looking statements within the meaning of Section
27A of the Securities and Exchange Act of 1933, as amended, and
Section 21E of the Securities and Exchange Act of 1934, as amended,
and such Forward Looking Statements are intended to be covered by
the safe harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainties. All
statements other than statements of historical fact in this
announcement are forward-looking statements, including but not
limited to the viability of the company's business plans, the
effect of acquisitions on our profitability, the effectiveness,
profitability, and the marketability of the Company's products; the
Company's ability to protect its proprietary information; general
economic and business conditions; the volatility of the company's
operating results and financial condition; and other risks detailed
in the Company's filings with the Securities and Exchange
Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the company and the
industry. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or to changes in its expectations, except as may
be required by law. Although the company believes that the
expectations expressed in these forward-looking statements are
reasonable, management cannot assure the public that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
Contact: Mr. Mark Evans Phone: (212) 203-0310 Email:
info@trilliant-exploration.com Web:
www.trilliant-exploration.com
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