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Trilliant Exploration Announces Letter of Intent With Copper Island Mines Ltd.
By: Marketwired .
Dec. 4, 2012 02:11 PM
NEW YORK, NY -- (Marketwire) -- 12/04/12 -- Trilliant Exploration Corporation (OTCQB: TTXP) announced today that its board of directors has authorized the execution of a letter of intent with Copper Island Mines Ltd. Trilliant Exploration intends to acquire twenty percent interest in Copper Island Mines Ltd. which is a registered British Columbia private company. Copper Island Mines Ltd. is engaged in the development and exploration of copper deposits located in British Columbia, Canada.
Copper used in power and construction hit its highest level since Oct. 19, 2012 at $8,045 a tonne on Monday, December 3, 2012 after data showed the pace of activity in China's manufacturing sector quickened for the first time in 13 months in November, adding to evidence its economy is reviving. China consumes about 40 percent of the global copper supply.
On December 4, 2012 from Reuters' Metals analyst, Ivan Szpakowski of Credit Suisse commented that, "We think copper is going to continue to rally in the next couple of months as from here on we should see some macro improvement. We see China getting better and we think there is good potential for restocking activity both in the U.S. and in Europe."
Copper Island Mines Ltd. rights and claims are located 15km NW of Campbell River, British Columbia. Copper Island Mines Ltd. is the operator of the 3000 hectare property. The area is known to host high grade chalcocite mineralization. The area has been under regular development and small scale production since 1915. The area hosts one of the highest densities of copper prospects in British Columbia and is rated high for mineralization by the BCGS (British Columbia Geological Service). Initial exploration on the Property was conducted by Dodge Copper in 1954 when 145 percussion holes were drilled outlining the Pomeroy areas. Exploration in the 1970s by Prince Stewart Mines and Quadra Mining resulted in a historic reserve estimate of 3.5Mt. grading 2% copper. Exploration in the 1990s resulted in a historical resource estimate from all occurrences of 5.3Mt grading 1.98% copper, and is used for historical reference purposes only.
About Trilliant Exploration (OTCQB: TTXP) http://www.trilliant-exploration.com Trilliant Exploration is focused on a variety of strategic mineral acquisitions including Copper and well positioned to capture the next wave in mineral exploration, Lithium and Rare Earth metals. Trilliant Exploration is a US based, high growth mining company focused on adding value through successful exploration, project development, efficient operations, and opportunistic acquisitions. Maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions are key priorities for Trilliant Exploration's Management team.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
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