Toronto, Ontario--(Newsfile Corp. - January 22, 2025) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush," "Rush" or the "Company") is pleased to report results for the final and deepest drill hole of its recently completed phase IV drill program at the Brewer gold-copper project, South Carolina. Hole B24C-016x was an extension of a pre-existing hole (B21C-016) initially drilled in 2021 to a depth of 381m. The hole was collared approximately 500 meters north-northwest of the former mine (Figure 2) and was extended to a final depth of 658 meters. The hole was designed to evaluate the Company's working exploration model that targets a deep copper-gold porphyry system. Results indicate elevated molybdenum (Table 1, Figure 1), a critical pathfinder metal, and provides further evidence that supports the Company's porphyry exploration model.
Key Highlights:
Broad Zones of Anomalous Molybdenum Mineralization: Hole B24C-016x returned 87 parts per million (ppm) Mo over the final 185 meters (473-658m).
Higher Grade Molybdenum: Occurs in discrete zones (e.g. 7.5 meters @276 ppm Mo from 479 - 486.5m) associated with intense quartz-topaz dominated alteration, indicating potential fluid pathways.
Strategic Insight: Geochemical and mineralogical data are consistent with high-temperature alteration, suggesting proximity to a potential porphyry system.
Exploration Model: As the deepest hole ever drilled at Brewer, this marks a critical step in testing the Company's exploration model for porphyry style mineralization and provides useful vectors for further exploration.
"Molybdenum often acts as a valuable guide in porphyry exploration, and these results are highly encouraging as we advance our understanding of Brewer's deep potential," said Layton Croft, President and CEO of Carolina Rush. "We decided to extend hole 16 as a cost-effective way to explore the Brewer system at depth and hole 16x is an important milestone in our journey to understand the potential porphyry copper-gold target. To that end, we plan to conduct a deep-sensing geophysical survey that is designed to provide useful information down to approximately 1,000 meters below surface."
Table 1. Composited Assay Results for Hole B24C-016x
BHID
From (m)
To (m)
Interval (m)
Mo (ppm)
B24C-016x
473.00
658.00
185.00
87
Incl.
479.00
486.50
7.50
276
And
601.00
602.00
1.00
1,320
And
628.00
634.00
6.00
285
Figure 1. Vertical Cross Section (looking West). A) Section displaying downhole molybdenum values. B) Section displaying downhole MDRU Porphyry Index (MPIx) values. Refer to text for discussion and figure two for section location.
The extension of hole 16 marks the first targeted drill hole aimed at evaluating the potential for Brewer to host a porphyry Cu (Mo-Au) deposit. The decision to re-enter hole 16 was a result of a property-wide compilation of geochemical and geophysical datasets and the recent evaluation of Brewer by renowned porphyry copper expert, Dr. Richard Sillitoe. The results of this work suggests that the Brewer magmatic-hydrothermal system has been rotated and inclined 30-50 degrees to the north-northwest. The results of hole 16x give confidence to this exploration model and suggest that additional drilling to target a potential porphyry will need to explore deeper and further north than our current drill coverage. A brief discussion of the vectors being used to help refine the Company's exploration model are provided below.
Molybdenum Anomalism
Molybdenum commonly acts as a useful vector to porphyry copper mineralization and can be concentrated in the proximal parts of lithocaps, above source intrusions, as well as forming halos overlying deeper copper +/- gold mineralization. The presence of elevated molybdenum in hole 16x (Figure 1A) suggests a deeper part of the mineral system has been intersected. This, coupled with the presence of minor chalcopyrite and bornite, further indicates a higher temperature, lower sulfidation phase of the system as would be expected as you transition from the advanced argillic lithocap environment to underlying low sulfidation mineralization in the porphyry environment.
MPIx Geochemical Index
The MDRU Porphyry Index (MPIx) developed by the Mineral Deposit Research Unit at University of British Colombia is used to discriminate between porphyry/proximal from more distal/shallow mineralizing environments. Specifically, elements Cu, Mo, W, and Sn that are enriched at the core of porphyry deposits are ratioed against elements formed in shallow or distal environments, namely As, Sb, Ag, Tl, and Li. The index is defined as Cu/10 + Mo +(10*W) + (20*Sn)/ (5*Sb) + (20*Tl) + Ag + As + Li.
Hole 16x shows a pronounced increase in MPIx values towards the bottom of the hole, correlating with increased Mo, and is in sharp contrast to the lower MPIx values associated with the Au-Cu mineralization in the higher-level Brewer and Tanyard breccia zones (Figure 1B). Taken together, the mineralogic and geochemical indicators give the Company confidence that we are vectoring closer to a potential porphyry system to the north-northwest of the historic Brewer gold mine.
Figure 2. Brewer Project Plan Map Showing Drill Hole Locations and Cross Section Location
The Company's 2023-2024 exploration diamond core drilling was HQ and/or NQ size. The core was logged and marked for sampling and assaying by geologists contracted by Rush. Samples, typically 1.5 meters in length, were sawn in half using a diamond core saw and one-half of the core was placed in sample bags and tagged with unique sample numbers, while the remaining half was kept in the core box for storage. Each bagged core sample was shipped to ALS Laboratory in Twin Falls, ID where it was dried, crushed and pulverized to >80% passing -200 mesh. Gold was analyzed by fire assay (30 g) with an AA (atomic absorption) finish (method Au-AA23) with detection limits of 0.005 g/t gold. Samples containing greater than 10.0 g/t gold are analyzed by fire assay with a gravimetric finish (method Au-GRA21). Multielement analyses were analyzed with ICP-MS following a four-acid digestion (method ME-MS61) and samples containing >1.0% copper are reanalyzed using method Cu-OG62. ALS Minerals is accredited in accordance with International Standard ISO/IEC 17025:2017 and also inserts its own certified reference materials plus blanks and duplicates. Strict sampling and QA/QC protocols are followed, and assay integrity is monitored internally with a quality control program including the insertion of standards and blanks every 10th sample within the sample stream. Assay results are reviewed, and discrepancies are investigated prior to incorporation into the Company's database.
Qualified Person
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc, CPG-12116, the Company's Senior Geologist and Exploration Manager and a Qualified Person as defined by NI 43-101.
About Carolina Rush
Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is exploring the Carolina Terrane in the southeastern USA. Its flagship Brewer Gold-Copper Project is located at the past-producing, 397-hectare Brewer Gold Mine property in Chesterfield County, South Carolina, 17 kilometers along trend from the producing Haile Gold Mine. In January 2023, the Company signed exclusive mineral exploration lease and purchase option agreements for both the 246.6-hectare New Sawyer Gold Mine Property and the 54.6-hectare Sawyer Gold Mine Property, both located on the Sawyer Gold Trend and in Randolph County, North Carolina.
For further information, please contact: Layton Croft, President and CEO or Jeanny So, Corporate Communications Manager E: info@thecarolinarush.com T: +1.647.202.0994
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
