|By Marketwired .||
|February 19, 2013 02:18 PM EST||
THUNDER BAY, ONTARIO -- (Marketwire) -- 02/19/13 -- QRS Capital Corp. (TSX VENTURE:QRS) ("QRS" or the "Company") is pleased to announce that it has entered into an option agreement (the "option agreement") to acquire 100% of a 3,560 hectare portion of the Aurum Copper Project, a 7,960 hectare copper, silver and gold mineralized property located in the Third Region, Southern Atacama at 1,200 m.a.s.l. on the Coastal Cordillera of Central Chile.
-- Located 12 km from Teck Resources Ltd. 3.2 million tonnes contained copper in indicated resource Relincho copper-molybdenum deposit. -- Excellent mining friendly location, all-weather road access, close to power and ports, low altitude year-round exploration, and only 70 km from Enami's custom processing facility at Vallenar. -- Existing shallow high-grade copper deposit with historical resource estimates as high as 20 million tons grading 1% copper. -- Work planned to immediately upgrade historical estimates to a NI 43-101 compliant mineral resource, negotiate and fast track the deposit into medium-scale production. -- IP and magnetic geophysical ground survey combined with detail geological mapping and rock geochemistry has identified six (6) significant mineralized targets. Two (2) drill-ready targets are available to immediately commence a systematic exploration program. -- The presence of copper rich sulphides at depth are probably related to a younger porphyritic intrusive mineralized body.
QRS's President Diego Benalcazar, stated, "We are very excited with the addition of a near-term copper production project into the QRS project portfolio. In parallel to the possibility of fast-tracking early copper production, the Aurum Copper Project can be explored for large tonnage porphyry type copper deposits along an identified copper belt system extending in excess of 15 km."
The Aurum Copper (Aurum) project consists of 17 individual concessions located in Chile's Atacama Region (Region III), Huasco Province and Commune of Alto del Carmen. Totaling 3,560 ha, the property covers a 20 km2 northeast elongate copper, silver and gold bearing zone hosted in skarned volcanics, sediments and dacitic porphyry bodies. The project is located within the regionally extensive north trending San Felix fault system that hosts numerous copper and gold bearing systems and is located 12km from Teck Resources Ltd.'s El Relincho copper-molybdenum deposit that has 3.2 millon tonnes contained copper in indicated resource.. There has been extensive historical small scale high-grade copper mining throughout the property, and modern exploration, over the past 50 years, including geological mapping, soils geochemistry, surface trenching and an Induced Polarization (IP) survey that delineated an open-ended northeast anomaly approx. 150-400m wide and 2.2 km long. A number of historical mineral resource estimates have been calculated with estimates as high as 20 Mt @ 1% copper oxide at surface around one of the main anomalies.
The area is known to have been worked for silver and gold as far back as the late 1800s with copper being high-graded in the 1930s through to the late 1960s. It is estimated that approximately 5,000 tonnes of high-grade oxide ore may have been extracted from extensive mine workings located in the center of the Carmen/Tabaco Mine vein system to a depth of 90m, some of which was reported to have run over 25% copper, up to 12,500 g/t silver and from 1.5 to 30 g/t gold.
From 1962 to 2006, significant exploration work was carried out on a small part of the property that included geological mapping, chip and trench sampling, soils geochemistry, shallow percussion drilling, geophysics and follow-up reverse circulation and diamond drilling.
In 1962-1964, Minera Metalmine (Metalmine) completed 56 percussion drill holes totaling 1,680m to an average depth of 30m on the Aurum property and confirmed the presence of a shallow copper oxide deposit over an area of approximately 170,000m2.
In 1992-1993, a small geochemical soils sampling program was carried out adjacent to the deposit by Blue Ridge Resources.
In 2002, International PBX Ventures Ltd (IPBX) completed geological mapping, soils geochemistry (785 samples), surface trenching and a 30 line km Induced Polarization (IP) geophysical survey. The IP survey delineated an open-ended northeast elongate anomaly some 150-400m wide and 2.2 km long flanking and extending a further 700m northeast and 800m southwest of the Metalmine drilling.
From 2003 to 2006, IPBX executed two drill programs (primarily diamond drilling) totaling 92 holes (8,340m) to investigate the source of the IP anomaly and to provide the basis for a preliminary resource estimate of the copper oxide zone. Holes drilled to test the IP anomaly intersected significant widths of copper sulphides including 25m @ 1.61% Cu and 144m @ 0.43% Cu and confirmed the source of the anomaly.
In 1964, Metalmine estimated a resource of 18 Mt @ 1% soluble copper to a vertical depth of 30m, covering some 750m of the 2,200m of strike of the main copper bearing skarn zone, which is one of three such zones on the property. In 1993 Blue Ridge Resources estimated, within the same area and to a depth of 25m, a similar resource.
In 2006, International PBX Ventures Ltd. contracted SRK Consulting to estimate a copper resource based on 74 out of the 92 holes (6,637m) drilled and reported a current indicated mineral resource of 1.827 Mt @ 0.59% Cu oxides with a secondary enriched zone 1.743 Mt @ 0.70% Cu, and inferred resources of 0.836 Mt @ 0.59% Cu oxides with a secondary enriched zone of 1.193 Mt @ 0.49% Cu as stated in the unpublished January 25, 2007 technical report.
The data used to estimate the above historical resources no longer exists either whole or in part. Hence at this time such estimates cannot be verified by a qualified person as current NI 43-101 compliant mineral resources and the Company is not treating them as such. Re-logging, check assaying of the mineralized intervals and rock density studies on the IPBX drill core, which is still stored on site, will need to be undertaken by a qualified person, as a minimum to verify and validate the 2007 historical resource.
Location and Access to Infrastructure
The Aurum property is located approximately 85 km east-southeast of Vallenar and is reached from Vallenar by paved (27 km) and gravel roads constructed and maintained by Teck to service its El Relincho Project. Industrial use water is available in the Corral de Pirca creek within the property limits and water rights to several claims in the creek valley are included with the mining title. The site is located 12 km from Alto del Carmen and the main Chilean northern electrical grid. The favorable climate provides year-round working conditions and there is cell phone coverage in the area for communications.
QRS Due Diligence Work
Before signing the Option agreement, QRS completed thorough technical and legal due diligence. All mining rights are valid and there are no legal issues outstanding nor any disputes or community problems.
QRS's technical due diligence program (See Figure 1) included the following:
-- Regional geological and structural mapping -- World-view and Aster Image interpretation of alteration -- 45 line kilometer IP pole-dipole and magnetometry geophysics survey -- Extensive outcrop sampling program - 38 out of 60 rock samples from old workings and surface outcropping structures returned grades greater than 0.4% Cu -- Completion of an internal geological model
Approximately 55% of the Aurum Copper land package has been staked by QRS and is 100% controlled by QRS. The remaining 45% of the land package is held under an option agreement (see November 1, 2012 news release for details) whereby QRS will earn 100% control after 51 months subject to a number of conditions including:
-- Cash payments of US$2.8 million during the first three years -- Additional cash payments of US$ 4.9 million in the latter stages of the agreement -- A resource payment of US$0.02/lb of recoverable copper contained in resources up to 80,000,000 tons and US$0.01/lb for any copper contained in resources in excess of 80,000,000 tons as demonstrated by a Bankable Feasibility Study. -- The Company is also committed to an Exploration Work program totaling US$12 million over a four-year period.
Mr. Terence Walker, M.Sc., P.Geo., and Mr. Hernan Guasumba, P.Eng., both qualified persons within the meaning of National Instrument 43-101 has reviewed and approved the contents of this news release. Mr. Walker is an independent consultant to the Company.
About QRS Capital Corp.
QRS is a mineral exploration company actively seeking exploration stage copper and gold targets in South America, particularly in Chile, Colombia, Brazil and Ecuador.
ON BEHALF OF THE BOARD OF DIRECTORS
Diego Benalcazar, President and Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about future acquisitions and objectives, exploration results relating to the Aurum-Copper property, expected time of completion of the definitive option agreement, exploration plans for the Aurum-Copper property and the completion of the acquisition of the Aurum-Copper property by QRS. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's disclosure documents. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
To view figure 1, "QRS due diligence - technical compilation", please visit the following link: http://media3.marketwire.com/docs/QRSfigure1.pdf.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Apex Capital Inc.
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Sep. 30, 2016 10:45 PM EDT Reads: 478
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Sep. 30, 2016 10:45 PM EDT Reads: 1,533
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Sep. 30, 2016 10:00 PM EDT Reads: 1,254
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Sep. 30, 2016 09:30 PM EDT Reads: 4,114
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Sep. 30, 2016 09:30 PM EDT Reads: 5,427
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Sep. 30, 2016 09:00 PM EDT Reads: 4,047
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
Sep. 30, 2016 08:45 PM EDT Reads: 485
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Sep. 30, 2016 08:30 PM EDT Reads: 471
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Sep. 30, 2016 08:15 PM EDT Reads: 747
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Sep. 30, 2016 07:30 PM EDT Reads: 566
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Sep. 30, 2016 07:15 PM EDT Reads: 482
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, will compare the Jevons Paradox to modern-day enterprise IT, e...
Sep. 30, 2016 07:00 PM EDT Reads: 2,457
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Sep. 30, 2016 06:45 PM EDT Reads: 749
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 30, 2016 06:30 PM EDT Reads: 2,914
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.
Sep. 30, 2016 06:15 PM EDT Reads: 3,165
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Sep. 30, 2016 06:15 PM EDT Reads: 3,547
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 30, 2016 05:45 PM EDT Reads: 1,380
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 30, 2016 04:30 PM EDT Reads: 1,834
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Sep. 30, 2016 04:00 PM EDT Reads: 3,598
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Sep. 30, 2016 03:45 PM EDT Reads: 3,674