VANCOUVER, BC, June 18, 2024 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company"; (TSXV: COCO) is pleased to announce it has doubled the size of its 100% owned Sully property to 10,852 hectares by staking and entering into five arms-length purchase agreements. The Sully property in southeastern British Columbia ("BC"), Canada, has favorable geology, geophysical magnetic signatures and historical results and occurs to both the north and the east of PJX Resources Inc.'s ("PJX") Dewdney Trail property¹ where they have recently made a new discovery of Sullivan-style base metal mineralization. For more information, please see the Coast Copper news release of February 12, 2024.
The Sully Property is within the Vulcan Tectonic Zone which hosts the Sullivan, Republic, Rossland, Sheep Creek and Pend O'Reille Mining Districts. Highlights from the newly acquired ground include (see Figure 1) ²:
1999 float sample 127613 which returned 5.74 grams per ton ("g/t") gold ("Au"), 1,710 g/t silver ("Ag") and 22.2% copper ("Cu") ³ east of the known Tiger mineral occurrence; and
1999 grab sample 127679 which returned 1.68 g/t Au, 228 g/t Ag, 3.83% Cu, 0.10% lead ("Pb") and 0.43% zinc ("Zn") ³ south of the known Red Zone mineral occurrence; and
1974 chip samples returned 1.4% Cu and 41 g/t Ag over 0.55 meters⁴ from trench 1 at the Jolly Molly mineral occurrence; and
1975 grab sample B-439 which returned 0.66% Zn and talus samples (B-433 to B-448) returned up to 23.65% Zn, 0.11% Cu⁴ around the Jolly Molly mineral occurrence; and
1979 rock sample returned 1.31% Cu, 0.06% molybdenum ("Mo") and dump sample returned 0.13% Cu, 0.015% Mo and 0.01% tungsten ("W") ⁴ around the Jolly Molly mineral occurrence.
Adam Travis Coast Copper CEO comments: "We are pleased to have increased the size of our Sully Property in the historic Sullivan Mining Camp as it is prospective for both Sullivan-style massive sulphides and also copper, gold and molybdenum porphyries associated with Cretaceous aged monzonite and syenite intrusions. Before PJX made their discovery of Sullivan-style mineralization on claims adjacent to ours, they also noted significant, intrusion related gold, copper and silver mineralization with values up to 15.59 g/t Au, 1.11% Cu and 721 g/t Ag (see PJX news release dated November 15, 2022) ¹ ² ⁵. Consequently, Coast Copper has acquired similar syenite intrusions on the geological trend to PJX's property. While we remain focused on our Empire Mine property, we continue to complete strategic mineral property acquisitions in areas of interest. We look forward to completing our first field program at Sully in the coming weeks and following up on our new geological understanding of the area."
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 ("QP") within the context of the Canadian Securities Administrators' NI 43-101; Standards of Disclosure for Mineral Projects.
About Coast Copper Corp.
Coast Copper's 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. Coast Copper's other properties include its 100% owned Sully property located in southeastern BC, Knob Hill NW property located on northern Vancouver Island, its Home Brew property in central 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 metals opportunities in western North America.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis, Chief Executive Officer and Director
Cautionary Notes related to News Release/Maps
¹ 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.
² Historical information, maps or figures contained in this release regarding Coast Copper's Property or adjacent properties cannot be relied upon as the Company's QP, as defined under NI-43-101 has not prepared nor verified the historical information.
³ A Summary of Reconnaissance Geological Mapping, Prospecting, Rock Chip Sampling and Stream Sediment Sampling Completed on the Tiger 1-14 Mineral Claims, Adam Travis, 1999. PAP99-40. Prospectors Assistance Program.
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.
