Copper King Mining Corporation Announces Further Mining Updatesadmin
Copper King Mining Corporation, an ore mining, processing, and exploration company located in Southern Utah, today provided further updates concerning its operations.
Ore Body Discoveries
New drillings in the company’s current mine locations recently revealed that the ore body present is much larger than expected. In three drilled holes, several hundred feet from the known ore body, the company discovered extended intervals of over 1.00% copper, with corresponding gold and silver averages. Current “Check” assays from Chemex confirmed that the high-grade ore from the company’s Hidden Treasure mine is over 50% copper with a substantial gold credit equivalent of over 0.05 ounces per ton.
Mill Completion and Positive Cash Flow
The company expects the Flotation Mill to be fully online and the flow sheet perfected by January 2009, with positive cash flow following. The company expects to be in a position to pay its first dividends by June 2009.