Toronto, July 20, 2010 – Alturas Minerals Corp. (the “Company”) (TSX-V, BVL: ALT) announced today that it had engaged the services of Araya Hermanos to execute the first phase drilling of its La Corina copper-gold porphyry property in northern Chile and that drilling is programmed to start shortly.
Miguel Cardozo, Chairman and Interim President and CEO of Alturas commented, “We are very pleased to announce that we will start drilling at La Corina by July 26, 2010. The minimum 1,500 meter drilling program will test high priority copper-gold targets defined by detailed geochemical and geophysical surveys conducted by the Company over the last six months”
As outlined in a previous press release dated November 25, 2009, encouraging copper-gold results were reported in historical drilling. Most of the historic drilling was conducted within a small 150 x 100 meter-sized zone of weakly sulfide-stockworked intrusive rock at the old “Mantos de La Corina” Mine on the western edge of a 1.7 x 1.5 kilometer dimension copper-gold soil geochemical anomaly defined by historical exploration.
Detailed ground geophysics recently completed by Alturas Minerals has enabled the definition of detailed drill targets beneath the extensive untested soil geochemistry anomalies. Phase 1 drilling of the “Cerro Gris” Geochemical Anomaly just to the east of the old Mantos de la Corina Mine will be aimed at testing a possible porphyry copper system, including an interpreted enrichment zone developed over sufidic stockwork copper-gold mineralization, in addition to a high-level vein and breccia gold system controlled by an east-west structural corridor.
About the La Corina Copper-Gold project
The 1,423 hectare La Corina project is located 70 kilometers northeast of the city of La Serena in Region IV of northern Chile. In the La Corina area, a Paleocene volcanic complex has been intruded by Eocene intrusive rocks; strong hydrothermal alteration and mineralization are associated with the intrusive phases.
The property has received limited historical drilling in campaigns by Phelps Dodge in 1985 (11 holes for 556 metres) and by the Chilean national agency ENAMI in 2006 (10 holes for 997 meters).
Targets at La Corina consist of bulk tonnage, low grade, copper-gold porphyries concealed beneath an extensive copper-gold in soils anomaly plus smaller tonnage, higher grade, gold-copper breccia pipes and veins..
About Alturas Minerals Corp.
Alturas is a Canadian corporation, and is the parent of Alturas Minerals S.A. (“Alturas Peru”) and Alturas Minerals Chile Ltda (“Alturas Chile”). Alturas’ exploration strategy is focused on the discovery of large epithermal gold mineralized deposits and copper-gold porphyry/skarn deposits in Peru and Chile.
Alturas Peru has been actively exploring various mineral projects in Peru since January 2004. Alturas’ properties include four drill-ready mineral exploration projects located in central and southern Peru, which includes the Chapi Chapi-Utupara Copper-Gold Project, the Sombrero Copper-Gold Project, the Ccaccapaqui Gold-Silver Project and the Huajoto Gold-Silver-Zinc Project. In addition, Alturas Peru has interests in four other exploration projects in Peru.
Alturas Chile has recently entered into a Final Option Agreement to acquire 100% of the La Corina copper-gold porphyry property in northern Chile. Drilling of the property is programmed for the second quarter of 2010.
As required by the National Instrument 43-101, Alturas's designated Qualified Person for the supervision of exploration of the projects is Dr. Paul Pearson, F. AUSIMM, who has reviewed the technical information reported in this News Release.
For further information, please visit the Company's website at www.alturasminerals.com
or contact Alturas at:
Phone: + 51-1- 652 4691 (Peru)
Alturas Minerals Corp.
Suite 3100, Scotia Plaza, 40 King St. W., Toronto, ON Canada M5H 3Y2
Calle Francisco de Zela # 2579, Int. D, Lince, Lima 14, Peru
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The TSX Venture Exchange and the Bolsa de Valores de Lima do not accept responsibility for the adequacy or accuracy of this release.
Cautionary Language and Forward Looking Statements
This press release may contain “forward-looking statements”, which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure documents filed from time to time with the Canadian securities authorities.