VANCOUVER, BC, Jan. 21, 2025 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company") (TSXV: COCO) is pleased to announce the staking of strategically located mineral properties in British Columbia ("BC") Canada as well as the results of continued compilation work on its 100% owned Hanson property in northwestern BC (see news release for acquisition details December 10, 2024). The five new properties include the Rock Canyon South rare earth and fluorite property in southeastern BC, the Virginia Silver high grade past producing silver project in northwestern BC, the Ben Nevis orogenic gold property located in the Bralorne Camp in southwestern BC, and additional properties in the Anyox camp areas in northwestern BC. See Figure 1. These properties add to the Company's stated 2024 goals of making strategic acquisitions of underexplored projects with a hybrid project generator model. Although Coast Copper's Empire Mine project is still its flagship property, Coast Copper will continue to acquire strategic properties that will help position it for success in a rising metals market.
Adam Travis, Coast Copper CEO comments: "We continue to leverage our hundreds of years of combined BC exploration experience by staking prospective ground. The recent acquisitions include the rare earth, fluorspar Rock Canyon South property whose minerals are included in the Canadian Critical Minerals Strategy, the past producing high-grade Virginia Silver mine which strongly compliments our Sweeney property and prospective orogenic gold and silver ground along strike to the south of Talisker Resources Ltd.'s Bralorne property¹. We will continue to review opportunities throughout BC and beyond that play to our strengths. Coast Copper will have a booth at the AME Roundup Conference from January 20-23rd. Visit us at booth 521 to discuss these new and exciting projects as well as our portfolio of other projects."
Rock Canyon South Rare Earth (Southeastern BC) Carbonatite hosted flurospar, barite and rare earth elements
The road accessible Rock Canyon South property (393 hectares ("ha")) is located 90 kilometers ("km") northeast of Cranbrook and 45 km northeast of the Company's Sully property. The property is located directly south and on trend of the Rock Canyon Creek carbonate-hosted rare earth, flurorite and barite deposit where fluorspar and rare-earth mineralization is stratabound, hosted mainly by the "basal Devonian unit", and occurs in a northwest trend over 3.5 km. In 1988, a carbonatite-related origin is suggested for the fluorite and rare-earth mineralization, resulting from metasomatically altered (fenitized) Devonian carbonate rocks, possibly related to a deep-seated alkaline intrusion. Fluorite content generally varies from 2% to greater than (">") 10% of the rock. In 1986, a sample of brown-altered carbonate with fluorite (R85DP-1A) contained 1% cerium, 0.98% lanthanum, 0.3% neodymium, 0.058% thorium and 0.03% samarium². Fluorite occurrences have been previously mapped across the Company's newly acquired property and appear to be along similar geological trends as the Rock Canyon deposit ³.
The road accessible Virginia Silver property (371 ha) is located approximately 34 km north of Smithers and 5 km east of Morristown located on Highway 16. The Virginia Silver property is geologically similar to the Company's high-grade silver-lead-zinc +/- gold vein Sweeney property located 140 km to the southeast in the Huckleberry Camp.
The property has been intermittently explored since 1968, including:
Silver Standard Mines aggressively worked on the property in 1968-69, driving two exploration adits totaling 152 meters ("m") and drilling 22 short diamond drillholes. Silver Standard's engineer at the time estimated a historic, non-43 101 compliant resource of 27,213 tonnes grading 708 grams per tonne ("g/t") (25 ounces per ton) silver⁴ ⁵ based on detailed underground channel sampling and drillhole data.
In 1975, Paul Kindrat leased the property, shipping 226 tonnes from stockpiles on the property of hand sorted ore that reported 696,952 grams silver (22,408 ounces) and 401 grams gold (12.9 ounces) ⁵.
In 1977 Barriere Exploration leased the property and installed a 50 ton-per-day mill. Two shipments of concentrate were shipped in 1980-1981, before the mill was shut down in December of 1981. The mine and mill were decommissioned in 1990.
The property was restaked in 1999 by George Braun who completed an 11-line km ground electromagnetic survey in 2001.
In 2006 and 2007, Endurance Gold optioned the property, staked the Annie claims, completed a soil geochemical program and drilled 3 diamond drill holes south of Causqua Creek. Two holes, VAG-1 and VAG-3, intercepted the targeted vein material. Hole VAG-1 was a vertical hole and intersected a 0.20 m thick carbonate vein at 80.60 m depth, grading 121 g/t silver and 0.186 g/t gold ⁵.
In 2007, Mega Silver Inc. optioned the property from Endurance Gold and in 2008 completed an exploration program of ground Induced Polarization ("IP") geophysics and six diamond drill holes focused south of Casqua Creek. The drill program was designed to test a number of large deep (>200 m) IP geophysical conductors, which appear to be associated with zones of secondary tourmaline. Most of the 2008 drillholes intercepted significantly anomalous to mineralized vein material.
Ben Nevis Property (Southwestern BC) Hydrothermal gold veins
The road accessible Ben Nevis property (1,980 ha) is located 30 km southeast of the town of Goldbridge in the Bralorne Gold Mining Camp and is immediately adjacent to the southeastern corner of Talisker's Bralorne property¹. In 1980 and 1981, Dupont of Canada Exploration Ltd. conducted programs of prospecting, geological mapping and rock, soil and stream sediment sampling. Soil values up to 0.9 g/t gold and stream sediment values up to 2 g/t gold were obtained ⁶. In 1987, two heavy mineral stream sediment samples collected by British Lion Mines Ltd. produced values of 1 and 7 g/t gold in coarse fractions ⁶. In 2020, S. Boughey conducted a structural photo interpretation of the Ben showing area.
The conclusions of the 2020 work were that the broad and intermediate regional lineament analyses show that the property is located proximal to intersections of major regional structures, which are likely deep penetrating and could be important in localizing mineralizing magmas and their related hydrothermal systems. At the property scale, smaller scale conjugate linears are seen to branch off of the major regional structures and a focus on exploring along these features, with an emphasis on their intersections will be important for planning future work programs at Ben Nevis. Future programs should focus on prospecting, trenching and sampling of material within the north-northwesterly trending depression in attempts to find the source of high-grade gold mineralization identified by historic geochemical surveys ⁷.
Hanson Property (Northwestern BC) Porphyry copper-molybdenum-gold (see news release dated December 10, 2024)
The road accessible Hanson property (1,965 ha) is located 150 km west-northwest of Prince George in the Babine Region and 25 km north of Centerra Gold Inc.'s Endako molybdenum mine¹. The property is within the southern portion of the under explored Stikine Terrane, one of BC's most prolific copper molybdenum-gold belts which includes Glencore Canada Corp.'s past producing Bell and Granisle mines, the Endako mine and Pacific Booker Minerals' advanced stage Morrison deposit¹. In addition, new discoveries and active exploration programs on the north part of the belt by American Eagle Gold at its NAK copper-gold porphyry and Amarc Resources/Boliden Minerals at their Duke copper-molybdenum porphyry ¹ provide evidence of continuing success in the area.
Highlights of the historical compilation include⁸:
Copper soil anomaly > 80 parts per million ("ppm") covering an area over 900 m by 600 m to the west of the known Kimura Zone, and a separate anomaly 450 m by 250 m zone to the northwest of the known Kimura Zone;
Zinc soil anomaly > 1,000 ppm covering an area of 700 m by 250 m (on the current Property);
Percussion drillholes completed in 1973 returned 0.1% copper on the outskirts of the copper soil anomaly;
Diamond drillholes completed in 1990 returning 0.2% copper and 0.1 g/t gold over 15 m and 22 m (DDH-90-20 and DDH-90-3 respectively);
Geophysical chargeability anomalies over 1,000 m in two areas.
Additional Acquisitions (Northwestern BC) High grade silver-lead-zinc +/- gold veins
The Company has acquired additional mineral claims within the Anyox camp and adjacent and internal to Goliath Resources Ltd.'s Golddigger property area in the Golden Triangle. More details on these properties will be released once the Company has had time to review the historical data in context with today's knowledge.
Qualified Persons The technical information contained in this news release has been prepared, reviewed, and approved by Wade Barnes, P.Geo. (BC), Coast Copper's geological consultant and a Qualified Person within the context of the Canadian Securities Administrators' NI 43-101; Standards of Disclosure for Mineral Projects.
About Coast Copper Corp. Coast Copper's primary exploration focus is the Empire Mine property, located on northern Vancouver Island, BC, which covers three historical open pit mines and two past-producing underground mines that yielded iron, copper, gold, and silver. In 2023, Coast Copper launched a generative program aimed at advancing its other properties in parallel with Empire. In 2024, Coast Copper acquired two new projects bringing its total number of 100% owned projects in BC to six, consisting of the mineral titles comprising the Empire Mine property, the Sully property located in southeastern BC, the Knob Hill NW property located on northern Vancouver Island, the Home Brew property located in central BC, its Sweeney property located in the central interior of BC and its Scottie West property located in the "Golden Triangle" of northern BC. Coast Copper's management team continues to review precious and base metal opportunities in western North America.
On Behalf of the Board of Directors: "Adam Travis" Adam Travis, Chief Executive Officer and Director
NR25-01
Cautionary Notes in News Release and/or Maps
This news release may contain information about adjacent properties on which Coast Copper has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
C. Graf (1986), Geological Report on the D.P. 1,2,3 and Candy Claims, REE-Ba-F-P Carbonatite Prospect. BC Assessment Report 14677
While Coast Copper notes that the historical results are not NI 43-101 compliant and have not been verified by the Company's QP, these historical resources will help guide Coast Copper's exploration programs. A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource and Coast Copper Corp. is not treating this historical estimate as current mineral resources.
S.Boughey (2020), 2020 Geological Report on the Ben Property. BC Assessment Report 39079
J. Cross (2013), Structural Analysis on the Hanson Property. BC Assessment Report 34087
Neither the 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.
