Vancouver, B.C., June 3, 2010, Copper One Inc. ("Copper One"; TSX-V: CUO) is pleased to provide an update on permitting and drilling activities at its Lone Mountain copper project, New Mexico. The Lone Mountain project is comprised of a broad oxide copper blanket capping a large porphyry copper and copper-zinc skarn system that has been defined by drilling over an approximate 1.2 km x 1.8 km area and to a depth of up to 1158 meters below surface. The deposit is located 13 km southwest of the Chino Copper Mine and 16 km northeast of the Tyrone Copper Mine, both with significant copper production, owned and operated by Freeport McMoran Copper and Gold Inc.
LT Ranch Drilling Permits Received
Copper One is pleased to announce that all required permits have been received for an initial drilling program on the LT Ranch target at its Lone Mountain porphyry oxide copper project. This permitting followed the acquisition by Copper One of surface rights to the LT Ranch (see December 4, 2009 news release). Some of the best historically reported drill intersections on the Lone Mountain property are from the LT Ranch target area, and Copper One has now located and permitted 14 holes to follow up on this historic drilling.
Northeast Area Drilling Results
Copper One is also pleased to announce results from the final three diamond drill holes of a five hole (2373 m) program targeting mineralization on the northeast side of the Lone Mountain Stock at the northern end of the Lone Mountain property. These five holes focused on the definition of grade continuity, structural features and lithology in this area. Initial drilling was focused on the northern portion of the property while awaiting the acquisition of surface rights and drilling permits for the LT Ranch target area.
Core hole LM-46 twinned a previously drilled reverse circulation (RC) hole (LM-40) and was primarily intended as a quality control investigation between core and RC results in the lower-medium grade oxides. The copper assays compared favorably between the two holes, differing by less than 10% between the RC and core data. Significant assay intercepts are listed below for LM-46, LM-47, and LM-48 using a cutoff grade of 0.05% Cu:
The Company has employed rigorous chain of custody and QA/QC procedures for the Lone Mountain core sampling. Core was delivered to the Copper One Silver City (New Mexico) office by Ruen Drilling personnel. It was sawn in half by Copper One technicians, then handed over to Skyline Labs personnel. Copper One makes use of analytical control samples (standards and blanks) inserted throughout the sample sequence. The performance of the analytical control samples is recorded and measured against accepted values to monitor lab performance. Skyline Labs is accredited to ISO 17025:2005 by the American Association for Laboratory Accreditation for sample preparation and various assay procedures. Copper values for all samples were obtained from Skyline's SOP 401 three acid AAS package or TE-5 four acid ICP/MS package. The copper values from these analytical packages are considered to be near-total for most rocks.
To review a map of the drill hole locations, please use the following link: http://www.copperone.com/_resources/pdf/LM_Drill_Hole_Location_Map.pdf
About Copper One Inc.
Copper One Inc. holds a significant portfolio of copper properties in the prolific copper- producing regions of Arizona and New Mexico. This area hosts some of the world's largest and most profitable copper mines and yields over 10% of the world's copper production. Copper One Inc. is focused on the discovery of copper resources which are suitable for leaching. Lone Mountain, the company's feature property, is within sight of the large Tyrone and Chino porphyry copper mines operated by Freeport-McMoRan. Five core holes have been completed at Lone Mountain in 2010. Results from two holes were recently reported; the remaining assays are pending. Photographs of select core intercepts are posted on Copper One's website.
For more information about Copper One Inc., please visit: www.copperone.com.
In compliance with National Instrument 43-101, Dr. Lawrence Dick, Ph. D., P. Geo, is the Qualified Person responsible for the accuracy of this news release.
On behalf of the board of directors of Copper One Inc.,
Alan Edwards, B.Sc Mn Eng, MBA
President, CEO & Director
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the company's development of mineral exploration projects. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Copper One Inc. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.