Vancouver, British Columbia--(Newsfile Corp. - February 5, 2025) - CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to provide an update on its ongoing exploration activities at the Company's 100% Razorback Copper-Gold-REE property in western Tasmania, Australia (Figures 1 and 2).
Highlights
Gravity survey - Detailed ground gravity surveys scheduled to commence during mid-February.
Induced Polarizationsurvey - Permitting approvals received for gridding and IP surveys at Jukes and Hydes.
Rock sampling - Extensive surface rock sampling programs at Jukes, Hydes and other locations within the Razorback license is ongoing.
Sean Westbrook, Vice President of exploration, commented:
"The planned geophysical surveys at Razorback will provide important additional data towards enhancing the definition of mineralization targets and future drill hole planning at the highly prospective Razorback copper-gold targets.
Higher resolution gravity data will enable us to confirm and more accurately define prospective gravity anomalies such as at Jukes and Hydes where overlapping magnetic and gravity anomalies indicate compelling IOCG type targets1.
Planned gradient array and pole-dipole IP surveys will seek to delineate sulphide-rich alteration and mineralization in 2D and 3D and thereby significantly enhance our ability to identify priority targets for future drill testing. Historical gradient IP survey data over Jukes indicates a strong IP chargeability response extending over a +700m strike length associated with anomalous geochemistry and mineralization at surface2. Drilling at Jukes is currently limited to the extreme southern end of the IP chargeability anomaly2, while the prospective Hydes target remains untested by drilling.
Further impetus to carry out these geophysical surveys is provided by the nearby Mt Lyell Cu-Au system located 10km north of Jukes. Copper-gold mineralization is known to be associated with strong IP chargeability anomalies, and the larger Cu-Au orebodies are associated with gravity anomalies1."
Ground Gravity Surveys
Ground gravity surveys planned for the Jukes, Hydes, South Darwin and Linda priority target areas are scheduled to commence during mid-February 2025. Geophysical contractors Fender Geophysics have been engaged to carry out the surveys.
As previously announced1, both the Jukes and Hydes target zones contain highly prospective overlapping magnetic and gravity features characteristic of IOCG type deposits. Recent drilling at the Jukes prospect confirmed significant Cu-Au mineralization associated with chlorite-magnetite alteration flanking the core of the magnetic pipe feature at Jukes. Similarities are also recognised with the Mt Lyell Cu-Au system (3Mt contained copper at 1% Cu, and 3Moz contained gold at 0.3g/t Au) where anomalous gravity features are associated with large sub-vertical orebody pipes that have depth extensive chlorite-magnetite-apatite-biotite alteration zones.
Induced Polarization Surveys
Exploration work program approvals for gridding and ground exploration surveys, including Induced Polarisation (IP) geophysical surveys have been obtained for the Jukes and Hydes target zone areas. The approvals, obtained in January and early February 2025, allow for track and grid line line-cutting at both prospects to assist with access for ground survey crews and equipment. Track cutting crews and IP contractors are currently being sourced with the timing for IP surveys tentatively scheduled for April 2025.
As previously reported2, a recent review of historical geochemical and geophysical survey data from the Jukes prospect area identified significant IP chargeability anomalies broadly coincident with anomalous magnetics (magnetite alteration), surface geochemistry and historical mine workings over the prospect area. Two large zones of anomalous chargeability (>20mv/v) have been identified through reprocessing of data from a historical Scintrex gradient array IP survey carried out in 19822.
CopperCorp's planned IP survey program at Jukes will employ pole-dipole arrays to provide vertical profile chargeability and resistivity imaging to depths of 300-400m below surface. The pole-dipole IP survey at Jukes will be carried out over zones of anomalous chargeability identified from the 1982 gradient array IP survey and may also be extended to test over anomalous gravity features that currently have no IP survey coverage.
At Hydes, both gradient array and pole-dipole array IP surveys are planned to cover the large coincident magnetic and gravity features. The gradient array will act as a reconnaissance style survey to identify anomalous chargeability zones for follow-up with pole-dipole survey to provide depth profile data and imaging to assist with drill hole targeting.
Rock Sampling and Ongoing Exploration
The exploration team has continued its focus at the Jukes prospect with surface outcrop channel sampling. To date over 200 samples have been taken since exploration operations started in January 2025. The Company looks forward to reporting results from these programs in the coming weeks.
Figure 1. Southern Skyline Project properties and exploration target areas with magnetic pseudocolour of magnetic intensity reduced to the pole (TMI RTP)4.
Figure 2. Location of the Razorback property and the Jukes Zone target area relative to the Mt Lyell copper-gold mine. Light blue outlines are CopperCorp's 100% owned licenses.
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$3.5M in working capital as reported in the November 27, 2024 news release3.
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.
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 26th August 2024 2CPER: TSXV News Release 19th December 2024 3CPER: TSXV Interim MDA for the Period Ended September 30 2024, 27th November 2024 4CPER: TMI interpretation - Cooler colours indicate lower magnetic intensity values and warmer colours represent higher values
CPER: TSXV News Release 16th December 2024 CPER: TSXV News Release 18th November 2024 CPER: TSXV News Release 15th October 2024 CPER: TSXV News Release 25th September 2024 CPER: TSXV News Release 11th September 2024 CPER: TSXV News Release 13th May 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; 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 risks associated the timing and outcome of the planned exploration work programs; that the Company may experience difficulties in exploration 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.
