Vancouver, British Columbia--(Newsfile Corp. - November 18, 2024) - CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to announce that broad zones of visible copper mineralization have been intercepted in drill hole JDD002W1 at the Jukes prospect on its 100% owned Razorback Copper-Gold-REE property in western Tasmania, Australia.
Geological logging indicates that JDD002W1 successfully intersected broad zones of strong K-feldspar-magnetite, chlorite-magnetite alteration and sulphide mineralization. Multiple zones of visible copper sulphide mineralization have been intersected in JDD002W1 (see Table 1), including:
24.4m of visual copper sulphide from 400.0m downhole, and
88.7m of visual copper sulphide from 463.3m downhole, including a 48.2m wide zone of strong visual copper sulphides from 498.7m downhole.
As previously reported1, diamond drill hole JDD002W1 is a wedge hole off the JDD002 parent hole at a depth of 67.5m, designed to test for copper mineralization at depth below hole JDD001 which intersected 132m @ 0.35% Cu and 0.19g/t Au1. At the time of reporting, JDD002W1 is at a depth of 568.1m.
The visual copper sulphide mineralization predominantly comprises disseminated, blebby, vein and breccia matrix chalcopyrite (e.g. Figures 5 to 8). The tenor of visual mineralization is variable throughout the hole (Table 1) and laboratory assays are awaited to confirm actual copper content. The chalcopyrite is commonly associated magnetite and pyrite. Copper sulphide mineralization in JDD002W1 is associated with increased chlorite-magnetite alteration which overprints earlier potassic (k-feldspar-magnetite) altered dacitic to rhyolitic volcanic sequence host rocks. This association was also observed in the first hole, JDD001, at Jukes.
Note: The Company cautions that with respect to reporting of any visible copper sulphides or other visual mineralisation indicators, such as the occurrence of other sulphide or oxide minerals, visual observations and estimates are uncertain in nature and should not be taken as a substitute for laboratory analysis. Laboratory assay results will be reported when they have been received, validated and interpreted.
Sean Westbrook, Vice President of exploration commented:
"Although assay results are awaited, the exploration team is very encouraged by the intersection of significant visual sulphide mineralization in JDD002W1 especially given that it is the first hole to drill across the large magnetic anomaly at Jukes that is now shown to be caused by intense hydrothermal alteration consistent with an IOCG type mineral system - which is the targeted mineralization style."
Stephen Swatton, President and CEO of CopperCorp commented:
"The observation of extensive intervals of copper from the first 2 holes is a very exciting start to the drilling campaign at the northern end of the Razorback property. Jukes is one of several targets on the property that we are investigating for IOCG style mineralization. The geochemical analyses will be published over the next few weeks and of course in addition to copper we eagerly await the results for gold which is anticipated to be associated with the copper. The gold is too fine to be seen by the naked eye but is common in similar rock types observed at the deeper levels of several ore bodies at the nearby Mt Lyell copper-gold deposit."
Next Steps
Drill hole JDD002W1 is anticipated to be completed within the week and the drill rig will mobilize offsite for repair and maintenance. Logging and sampling of JDD002W1 is underway, with samples from 113-219m already at the laboratory and the remainder of the hole on schedule to be logged and sampled within 1-2 weeks. The Company looks forward to providing further updates as assays are received.
Planning and permitting of follow-up drilling and field surveys at Jukes is in progress with updates to be provided in the near future.
Table 1. Summary mineralization log for drill hole JDD002W1. Mineral key: Cpy = chalcopyrite, Mt = magnetite, Py = pyrite.
Hole ID
From (m)
To (m)
Interval
Minerals
Description
JDD002W1
115.1
126.15
11.05
Mt-Py-Cpy
Trace to weak disseminated chalcopyrite-pyrite associated with intense chlorite-magnetite alteration.
JDD002W1
126.15
286.9
160.75
Mt-Py-Cpy
Generally trace disseminated chalcopyrite with intermittent zones of weak to moderate, locally intense disseminated and vein chalcopyrite with magnetite-pyrite and quartz-carbonate veining in zones 0.3 to 5m wide.
JDD002W1
286.9
322.6
35.7
Mt-Py-Cpy
Zone of generally weak to moderate magnetite-pyrite veining with trace to moderate chalcopyrite.
JDD002W1
322.6
370.85
48.25
Py
Trace to weak disseminated and fracture paint pyrite.
JDD002W1
370.85
400.0
29.15
Mt-Py-Cpy
Variable magnetite-pyrite veining, including massive veins and breccia matrix zones up to 0.6m wide. Trace disseminated chalcopyrite.
JDD002W1
400.0
424.4
24.4
Cpy-Py-Mt
Moderate to strong chalcopyrite disseminated in host rock and in quartz-carbonate veins. Trace to moderate magnetite-pyrite veining.
JDD002W1
424.4
463.3
38.9
Py
Trace to weak disseminated and fracture paint pyrite.
JDD002W1
463.3
498.7
35.4
Cpy-Py-Mt
Weak to moderate disseminated to stringer vein chalcopyrite-pyrite-magnetite.
JDD002W1
498.7
546.9
48.2
Cpy-Py-Mt
Moderate to very strong chalcopyrite-pyrite-magnetite as stinger veins, massive veins up to 10cm wide, and breccia matrix zones up to 1.25m wide. Local magnetite-apatite vein zones.
JDD002W1
546.9
552.0
5.1
Cpy-Py-Mt
Weak to moderate disseminated to stringer vein chalcopyrite-pyrite-magnetite.
Table 2. Jukes prospect CopperCorp drill hole location and summary data (this news release).
Drill Hole Location Data
Drillhole ID
Easting GDA94
Northing GDA94
mRL
Length (m)
Dip
Azimuth
Company
JDD001
383670
5331179
622
214.0
-50
258
CopperCorp
JDD002
383670
5331179
622
310.0
-75
254
CopperCorp
JDD002W1
383670
5331179
622
568*
-75
254
CopperCorp
About the Jukes Prospect
The Jukes prospect is located within the 100% owned Razorback Cu-Au-REE property, 10km south of the Sibanye-Stillwater owned Mt Lyell copper-gold mining camp (3Mt contained copper and 3Moz contained gold). Recent work by CopperCorp, including 3D inversion modelling of magnetic and gravity data indicates a vertically extensive pipe-like magnetic feature with a partially coincident to off-set residual gravity anomaly at Jukes4. The position of the magnetic and gravity anomalies adjacent to large fertile fault structures is considered highly prospective for structurally controlled mineralized pipes typical of the Mt Lyell system where anomalous gravity features occur associated with larger mineralized pipe bodies that have depth extensive chlorite-magnetite-apatite-biotite alteration zones (e.g. Prince Lyell and Western Tharsis orebodies)4 (Figure 5).
Previous exploration at the prospect includes limited drilling below historical workings during the 1970's and 1980's that gave a best intercept of 13.4m @ 1.6% Cu and 1.6g/t Au from 61.6m (drillhole JP02)5. Results of recent drilling1 and channel sampling5 of historical underground adits by CopperCorp includes:
JDD001:
132.0m @ 0.35% Cu and 0.19g/t Au from 72.0m, including
25.0m @ 0.75% Cu and 0.4g/t Au from 72.0m,
10.1m @ 0.94% Cu and 0.69g/t Au from 128.5m, and
10.0m @ 0.67% Cu and 0.29g/t Au from 194.0m
Jukes No.3 Main Adit (channel sampling):
31.0m @ 1.48% Cu and 0.83g/t Au, including
9.0m @ 2.92% Cu and 1.79g/t Au
The copper-gold mineralization at Jukes occurs predominantly as chalcopyrite with lesser bornite, associated with intense chlorite-magnetite alteration with strong similarities to deep level mineralization at Mt Lyell.
Figure 1. Southern Skyline Project properties and exploration target areas with magnetics TMI RTP image.
Figure 2. Location of the Razorback property and the Jukes Zone target area relative to the Mt Lyell copper-gold mine. Blue outlines are CopperCorp's 100% owned licenses.
Figure 5. Photographs showing examples of copper sulphide mineralisation in JDD002W1: (A) chalcopyrite-pyrite- veining in strongly k-feldspar altered host rock (322.3m), (B) chalcopyrite-pyrite-magnetite stringer and breccia veining in strongly chlorite-magnetite altered host rock (465.5m), (C) chalcopyrite-pyrite-magnetite breccia matric fill in strongly chlorite-magnetite altered host rock (546.1m), (D) massive chalcopyrite-pyrite-magnetite vein in strongly chlorite-magnetite altered host rock (502.2m)
Figure 7. Photograph showing moderate to strong chalcopyrite-pyrite-magnetite and quartz-carbonate-chlorite veining in intensely k-feldspar and chlorite-magnetite altered rhyolite host rock, JDD002W1, 498.3-503.1m.
Figure 8. Photograph showing moderate to very strong chalcopyrite-pyrite-magnetite veining and breccia matrix in strongly chlorite-magnetite and k-feldspar altered rhyolite host rock, JDD002W1, 542.7-547.0m.
CopperCorp is focused on the exploration and development of its Skyline, AMC, and Whisky Creek copper-gold-REE projects in western Tasmania. The company is well-financed with approximately C$4.0M in working capital as reported in the August 27, 2024 news release6.
Qualified Person & National Instrument 43-101 Disclosure
The Company's disclosure of technical or scientific information in this news release has been reviewed and approved by Sean Westbrook, VP Exploration for the Company. Mr. Westbrook is a Qualified Person (QP) as defined in National Instrument 43-101.
Information on historical and recent prospecting, mining, and exploration activities at the Skyline Project group of properties, including the Razorback property, contained within this news release has been reviewed and verified by the Qualified Person. In the opinion of the Qualified Person, sufficient verification of historical and new data has been undertaken to provide sufficient confidence that past exploration programs were performed to adequate industry standards and the data reported is fit for substantiating the prospectivity of the project in general, supporting the geological model/s proposed, planning exploration programs, and identifying targets for further investigation. The Company has undertaken resampling and analysis of available historical drill core and historical mining adits in order to independently verify historical results.
This news release contains information about adjacent properties on which the Company does not have an interest. The QP has been unable to verify the information on these adjacent properties and the information is not necessarily indicative to the mineralization on the properties that is the subject of this news release.
References
1CPER: TSXV News Release 15th October 2024 2CPER: TSXV News Release 25th September 2024 3CPER: TSXV News Release 11th September 2024 4CPER: TSXV News Release 26th August 2024 5CPER: TSXV News Release 13th May 2024 6CPER: TSXV Interim MDA for the Period Ended June 30 2024, 27th August 2024
Adjacent Property (Mt Lyell) Information Sources: Sibanye-Stillwater company website information as of May 12th 2024 New Century Resources: ASX Announcement 23rd January 2023 New Century Resources: ASX Announcement 27th October 2021 Seymour, D.B., Green, G.R., and Calver, C.R. 2007. The Geology and Mineral Resource of Tasmania: a summary. Geological Survey Bulletin 72. Mineral Resources Tasmania, Department of Infrastructure, Energy and Resources Tasmania
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation relating the Company's expectations and plans regarding the Skyline Project, Razorback property and Jukes prospect in Tasmania; visible copper sulphide mineralization in drill holes at the Jukes prospect; plans for future exploration and drilling at the Jukes prospect and the timing of same; the merits of the Company's mineral projects and other plans of the Company. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "encouraging", "expects", "plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims", "suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly", "preliminary" and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or other statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and that such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Factors that could cause future results to differ materially from those anticipated in forward-looking statements include that visual observations and estimates of visual mineralization are uncertain in nature; risks associated the timing and outcome of the approval process for exploration programs; that the Company may experience difficulties in exploration and drilling and carrying out related work; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; possible accidents; the possibility that the Company may not be able to secure permitting and other governmental approvals necessary to carry out the Company's plans; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; the possibility that future exploration results will not be consistent with the Company's expectations; increases in costs; environmental compliance and changes in environmental and other local legislation and regulation; interest rate other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors and exchange rate fluctuations; changes in economic and political conditions; and other risks involved in the mineral exploration industry. The reader is urged to refer to the Company's Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of risk factors and their potential effects.
Forward-looking statements are based on a number of assumptions, including management's assumptions about the following: the availability of financing for the Company's exploration activities; operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the receipt of necessary regulatory and governmental approvals; market competition; and general business and economic conditions. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
