Intends to Release Assay Results of 1,216 Meters of Drilling Over Course of Next 6-8 Weeks
Toronto, Ontario--(Newsfile Corp. - May 15, 2025) - Gold Hart Copper Corp. (TSXV: HART) (formerly Vicunau Metals Corp.) (the "Company", "Gold Hart", or "HART") is pleased to announce completion of the second diamond drill hole at its Tolita gold-copper-silver-molybdenum porphyry target where the Maricunga Gold Belt meets the emerging Vicuña Copper Belt.
This second drill hole reached a depth of 603 meters. Drill core is being transported from Gold Hart's Tolita asset to the Gold Hart Copper office in Copiapo for logging, after which time it is tagged, sawed, and finally submitted to an internationally recognized laboratory for assaying. In total, this is an approximately 6 week process.
"We are excited to have drilled another deeper diamond hole at Tolita, effectively tripling the total meters and depth drilled on the Tolita property relative to the first phase of shallower RC drillholes from the 1990s," stated Jonathan Warner, Co-founder & Executive Vice President of HART. "The Tolita property has waited nearly 30 years for this critical second phase of drilling since it was long-ago recognized by Enrique Viteri-Aldunate for its gold, silver, copper, and molybdenum anomalies on surface. Much like the first hole, the core was visually interesting such that we drilled as deep as possible, and would have liked to have kept the drill going for at least another couple hundred meters, but this particular rig could only reach 603m. I'm truly excited to return in September with a larger drill rig to continue the campaign and drill even deeper."
Similar to the first diamond hole (613m), Gold Hart Co-founder & Chairman Emeritus Dr. Professor José Frutos and Co-Founder & Executive Vice President Jonathan Warner personally rotated shifts in order to constantly monitor the drilling.
The Company also wishes to thank its drilling team for their commitment in smoothly operating the drill rig 24/7 over the past two months, and successfully completing these first two diamond holes totaling 1,216 meters, hopefully just the beginning of a much larger campaign. The Company currently plans to return in September to drill at least another 5,000 meters, for which the Company is already fully funded.
Options Issuance & Shares for Debt
The Company also announces its intention to issue certain options exercisable at $0.20, as well as the settlement of certain shares for debt, also at $0.20 per share. Specifically, the Company intends to issue 4,890,000 options, exercisable at $0.20 for 5 years. These options are apart of the Company's approved option plan and prior disclosed and reserved for issuance as a part of the Company's go-public, in order to compensate and incentivize board members and advisors. The Company also intends to settle $159,370 in accounts payable to 3 arm's length vendors at $0.20 per share, subject to requisite filings and regulatory approvals.
About Gold Hart Copper
Gold Hart Copper is one of the largest independent land owners surrounding major miners where the famous Maricunga Gold Belt meets the emerging Vicuña Copper Belt in Chile. HART is actively acquiring, exploring and developing its portfolio of gold, copper & silver properties adjacent to the largest gold and copper assets on the continent.
HART's team of geologists were personally involved in pioneering exploration in the region, leading to some of its greatest gold, copper, and silver deposits, and include the country's former Geological Survey National Deputy Manager Dr. Professor José Frutos. Specifically, senior Gold Hart geologists were personally involved in the Escondida copper discovery, now the largest copper mine in the world1 controlled by Rio Tinto and BHP, as well as Cerro Casale, the largest gold-copper discovery in Chile2 acquired by Barrick and Newmont (GoldCorp) with 59-million ounces of gold and 12.5-billion pounds of copper.
HART has rolled-up a portfolio of historically significant assets surrounding majors, in some cases personally staked by the very same geologists who made the adjacent mega-discoveries, since the early 1990s. Some of the Gold Hart properties have already undergone a first phase of RC drilling, with highly encouraging results of gold, copper, and silver. Gold Hart properties are controlled 100% and not subject to any royalties whatsoever.
HART believes it may be sitting on one of the only fully-preserved untested large-scale gold-copper-silver porphyry targets in the Vicuña District - an asset that was first recognized for its uniquely high grades of gold and copper on surface - and staked by one of the Maricunga-Vicuña district's pioneering geologists3 in 1993. Gold Hart Copper is fully funded for its planned drill campaign.
About Gold Hart Copper's Tolita Gold-Copper-Silver-Molybdenum Target
The Tolita property is a historically significant gold-copper asset which was first recognized and staked in 1993 - by one of the pioneering geologists of the Maricunga-Vicuña district - for its uniquely high grades of gold and copper on surface3. Geochemical surveys revealed gold, copper, silver, and molybdenum anomalies, which led to trenching. Tolita has had significant trenching (5,600m / 5.6km) with the highest grade trench returning grades up to 52g/t gold equivalent including 4% copper. Tolita has undergone helicopter mag surveys which identified 4 unique anomalies as well3.
In 1996, a third party company optioned the property and drilled 3 short 200m RC holes, without any geophysics, and yet still hit gold and copper in all 3 holes, including long intercepts of gold and copper (150m and 164m, respectively) close to surface in 2 of the 3 holes. At the time, gold was approximately $300/oz and copper traded below $1.00/lb, and large scale sulphide / porphyry deposits with both gold and copper were often considered less favorable than smaller scale gold-only oxide deposits. As a result, and due to general market sentiment for junior exploration companies in 1997-1998, Tolita was only drilled to a depth of 200m with 3 short RC holes (out of a planned 8 hole campaign)3.
When Gold Hart acquired the property, a full geophysical survey was conducted by a recognized geophysics firm, and a large high-chargeability and conductive anomaly was discovered that is near surface and almost 2.5km2 in size and "interpreted as a copper-gold or gold-copper porphyry system that certainly warrants additional exploration and drilling4". Gold Hart Copper has therefore launched diamond drilling and is fully funded for this planned campaign.
References & Notes:
Escondida is the largest copper mine globally, as defined by producing the greatest number of copper tonnes per annum. Numbers sourced directly from property owner's website and public filings.
Norte Abierto is considered the largest gold asset in Chile as defined by hosting the largest number of total gold ounces. Numbers sourced directly from property owner's website and public filings.
Please refer to the Company's NI 43-101 Technical Report on Sedar for information pertaining to Gold Hart Copper's properties including historical exploration at Tolita, including but not limited to, the history of the asset and its original staking, geochemical surveys, trenching surveys, helicopter magnetic surveys, and historical RC drilling.
Geophysical survey is summarized in the Company's NI 43-101 Technical report available on Sedar. Such geophysical surveys are not definitive, and the results are still at an early stage of interpretation, with no guarantee of a mineral discovery.
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The technical information contained in this news release related has been reviewed by Mr. Jonathan A. Warner, Executive Vice President of Gold Hart Copper and a Qualified Person within the meaning of NI 43-101.
For further information please contact:
Gold Hart Copper Corp. Isaac Maresky Chief Executive Officer and Director Email: im@goldhartmining.com
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects 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 are set out in the Company's listing application dated March 14, 2025, a copy of which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. 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, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
