MONTREAL, Feb. 28 /CNW Telbec/ - Campbell Resources Inc. (the "Company") ("Campbell") (TSX: CCH, OTC Bulletin Board: CBLRF) announces positive developments at its Copper Rand Mine and Corner Bay project that are a significant step forward in the Company's strategy to increasing production at the Copper Rand mill. At the Copper Rand Mine, development has opened up two new sources of higher-grade ore, while development of the high-grade Corner Bay deposit has begun at both the 55 and 75 metre levels.
"We are making good progress with our strategy of bringing additional mine on stream in an effort to maximize throughput to increase production and lower unit costs at the Copper Rand Mill," said André Fortier, Campbell's President and Chief Executive Officer. "We now have Copper Rand, Corner Bay and Merrill Island feeding the Copper Rand Mill and are continuing to evaluate additional deposits in the Chibougamau camp to further advance the strategy."
Copper Rand Mine
Development at the Copper Rand Mine has now reached the 4,850-foot level, the deepest level to date. Ore was intercepted earlier than anticipated and drilling indicates a zone approximately equal in grade and significantly larger in volume to the ore zone intercepted on the preceding 4,790-foot level.
The ore zone on the 4,850-foot level is approximately 20 feet wide averaging 3.58% copper and 0.085 oz gold per ton with a total length of close to 500 feet, while the ore zone on level 4,790 carried similar grades with a total length of some 300 feet. Copper is considerably higher than the average historical grade mined at Copper Rand of 1.80% copper and 0.089 oz gold per ton.
Development toward level 4,910 will begin shortly. This will be followed by drilling to upgrade to measured and indicated the 150,000 tons of inferred resources contained between levels 4,910 and 5,200.
Level 4,690 is the second new source of ore. The first block being mined at level 4,690 is a 10-foot wide, 110-foot long vein grading an average of 3.10% copper and 0.045 oz gold per ton. Drilling will begin shortly to delineate three veins at this level with the goal of increasing resources and reserves by 80,000 tons of high-grade copper.
Corner Bay Mine
As announced last week, the Company has successfully mitigated groundwater inflow at the Corner Bay Mine. Development in ore has now begun at both the 55 and 75 metre levels and shipment of ore to the Copper Rand Mill will begin in the coming days.
Campbell Resources Inc. is a mining company focusing mainly in the Chibougamau region of Québec, holding interests in gold and gold-copper exploration and mining properties.
The qualified person, Valère Larouche, ing.-geologist, is the Chief Geologist for Campbell Resources Inc. Analysis was conducted at the Campbell Resources laboratory in Chibougamau, Quebec.
Certain information contained in this release contains "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and is subject to certain risks and uncertainties, including those "Risk Factors" set forth in the Campbell's current Annual Report on Form 20F for the year ended December 31, 2006. Such factors include, but are not limited to: differences between estimated and actual mineral reserves and resources; changes to exploration, development and mining plans due to prudent reaction of management to ongoing exploration results, engineering and financial concerns; and fluctuations in the gold price which affect the profitability and mineral reserves and resources of Campbell. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Campbell undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect unanticipated events or developments.
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For further information: Campbell Resources Inc.: André Fortier, President and Chief Executive Officer, (514) 875-9037, Fax: (514) 875-9764, afortier@campbellresources.com; Renmark Financial Communications Inc.: Henri Perron: hperron@renmarkfinancial.com; Julien Ouimet: jouimet@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com
