Coast Copper Receives Positive Geochemical Results from Generative Exploration Program
TSX.V: COCO
VANCOUVER, BC, Sept. 23, 2024 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company"); (TSXV: COCO) is pleased to announce positive assay results from reconnaissance exploration conducted at three of its six 100% owned mineral properties, all of which are in the province of British Columbia ("BC").
Coast Copper's generative program, which commenced in 2023, was scaled up in 2024 resulting in the acquisition of two new projects (Sully and Sweeney). The 2024 field programs involved early stage exploration at three of the Company's six BC projects including its flagship Empire Mine property on which Coast Copper published a National Instrument ("NI") 43-101 mineral resource estimate in May 2023. This news release details results from exploration work performed on the Empire Mine, Knob Hill NW and Sully projects, the aim of which was to identify new target areas for follow-up work.
Highlights:
- Empire Mine "Big Zinc" target (Figure 1): rock sample MWCM24-004 returned 1.37% zinc ("Zn") and 12.95 grams per tonne ("g/t") silver ("Ag") and rock sample MWCM24-005 returned 7.50% Zn, 1.16% lead ("Pb") and 56.45 g/t Ag.
- Knob Hill NW Property "Coppertop" target (Figure 1; located approximately 5.5 km from Northisle Copper and Gold Inc.'s ("Northisle") NW Expo Zone): rock sample KH2024R-001 taken in this area returned 0.16 g/t gold ("Au"), 41.6 g/t Ag and 0.67% Copper ("Cu"). Moss matt samples KH2024MM-005 and 006 taken on the eastern side of the property returned 1.08 g/t Au and 1.40 g/t Au.
- Sully Property "South Red Zone" target (Figure 2): rock sample Su2024R03 returned 0.94 g/t Au, 118 g/t Ag, 1.93% Cu and 0.19% Zn, and rock sample SU2024R04 returned 1.81 g/t Au, 295 g/t Ag, 4.29% Cu and 0.38% Zn.
Adam Travis, Coast Copper's CEO, commented: "Over the past 4 months, we have successfully completed reconnaissance exploration programs aimed at identifying new target areas for follow-up exploration at 3 of our 6 projects. While this kind of work is not expensive, it is an important first step and a critical part of our generative program allowing us to better understand and advance each of our projects. We committed to our generative program as part of our May 2024 financing, and we have delivered on all of our stated objectives. This work puts Coast Copper in a strong position to take advantage of the rising market with multiple projects at varying levels of advancement, including the Benson Lake mine area within our Empire Mine property, which is drill ready. Our project portfolio now includes base metal, industrial metal and precious metal potential and we continue to develop new target zones having strong prospectivity. We are compiling and interpreting our latest results, and together with the historical information and other studies, they will form the next steps for each project, including drilling planned for 2025."
Empire Mine Property
Throughout 2024, Coast Copper expanded the Empire Mine property to the northwest through staking and the property now covers 17,125 hectares ("ha"; 42,316 acres) along a prospective trend that stretches over 25 kilometers ("km") including 28 known mineral occurrences. The northwest area of Empire Mine is known as Big Zinc and is historically known as prospective for zinc, lead and silver, with a similar geological setting as the Merry Widow deposit (located 16 km southeast). Approximately 4,500 tonnes of ore grading between 4 to 5% Zn was reported to occur in surface exposures in 1974, and in 2017 a sample from the zone yielded 1.43% Zn ¹.
A total of 16 soil, 11 rock and 5 moss matt* samples were collected over the northwest section of the Empire Mine property (see Figure 1). Rock sample MWCM24-004 returned 1.37% Zn and 12.95 g/t Ag and sample MWCM24-005 returned 7.50% Zn, 1.16% Pb and 56.45 g/t Ag. These assay results are consistent with the historical results in the Big Zinc area and show the potential for district scale polymetallic mineralization at Empire. Additional work in this area is proposed.
Knob Hill NW Property
In July 2024, a total of 30 moss matt*, 14 soil and 2 rock samples were taken at the Knob Hill NW property, which is located to the west of Northisle's recent discoveries at the NW Expo zone². The soil and moss matt samples had elevated copper in the southwest area around magnetic highs and along trend with Northisle's copper-gold Porphyry deposits². For example, rock sample KH2024R-001 taken in this area returned 0.16 g/t Au, 41.64 g/t Ag and 0.67% Cu (see Figure 1). This area is prospective for porphyry copper-gold potential. Moss matt samples KH2024MM-005 and 006, taken along the eastern portion of the Knob Hill NW property, returned 1.07 and 1.40 ppm Au, this zone is located approximately 5.5 km of northwest of Northisle's NW Expo zone ². The Knob Hill NW property is an early-stage exploration but is located at the western end of a 50 km trend that originates from the past producing Island Copper Mine and passes through Northisle's property. The results encountered thus far have been very encouraging and consequently, the Company conducted a second phase program in early September to follow up on the positive results and is awaiting the results from this program.
Sully Property
A total of 11 rock, 22 stream and 27 soil and 2 moss matt* samples were collected at the Sully property over a 5-day period in July 2024 as part of an initial reconnaissance for Sullivan-style massive sulphide, intrusive related copper, gold and molybdenum ("Mo") and structurally related base and precious metal deposit potential. Soil sample SU2024S-005 returned 4.23 ppm Ag, 460.5 ppm Cu, 1,138.6 ppm Pb and 456 ppm Zn. Rock sample Su2024R03 returned 0.94 g/t Au, 118 g/t Ag, 1.93% Cu and 0.19% Zn, and rock sample SU2024R04 returned 1.81 g/t Au, 295 g/t Ag, 4.29% Cu and 0.38% Zn. Additionally, samples around the Jolly Molly minfile occurrence had elevated copper, molybdenum and tungsten levels near a mapped intrusion showing the potential for a copper-molybdenum porphyry discovery. See Figure 2 for Sully map.
A review of the historical data revealed a gravity geophysical survey, completed in 2013 ³, with anomalies that have not been followed up and could represent areas of denser sulphide accumulations.
These results are very encouraging and highlight the potential for both Sullivan-style massive sulphide deposits and copper, gold and molybdenum porphyries. Coast Copper will be conducting a second phase program in late September to follow up on these initial results as well as complete geochemical sampling and geological observations in areas that were not visited in the first program.
Other Property Work
Coast Copper continues to evaluate other projects through research, and once modest property examinations have been completed, if the properties meet the Company's criteria, they will become part of the Company's property portfolio through staking or purchase.
Quality Assurance/Quality Control ("QA/QC") Procedures
Soil samples were taken at 25 m spacings when possible and by up to 50 m spacings in areas of interest. All samples were taken from the B horizon soil profile.
Sampling completed on the projects in 2024 was supervised by on–site Coast Copper personnel and sub-contractors who collected and tracked samples and implemented a full QA/QC program using blanks, standards and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and shipped to MSA Labs in Langley BC for analysis. MSA Labs' quality control system complies with global certifications for Quality ISO9001:2008. Soil samples were dried and screened to 80 mesh and then analyzed in 20g samples with multi-element ICP-MS Aqua Regia digestion (IMS-131and IMS-128. Rock samples were dried and crushed to 70% passing 2mm mesh and split to 250g samples which were pulverized to 85% passing 75μm and then analyzed by 4-acid digestion with a ICP-MS finish (IMS-230). Gold contents were analyzed by fire assay 30g sample with an AA finish (FAS-111). Sully Rock samples were analyzed for Gold, Platinum and Palladium by fire assay with a ICP-ES finish on a 30g sample. Ag samples >100 ppm were analyzed ICF-Ag. Copper, Zinc and Lead assays greater than 10,000 ppm were completed with ICF-6**, 4acid, ICP-AES ore grade analysis.
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 metals opportunities in western North America.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis, Chief Executive Officer and Director
NR24-11
Cautionary Notes/Footnotes related to News Release/Maps
¹ Big Zinc Minfile Record Summary 092L 314. https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L++314
² 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.
³ Technical Report Premier Lake Property, BC Assessment Report 34204. September 15, 2013
⁴ Jolly-Molly Minfile Record Summary 082GNW 057. https://minfile.gov.bc.ca/Summary.aspx?minfilno=082GNW057
* Moss matt samples were collected in areas of high runoff mountainous areas where traditional stream silt sample collection is problematic; sampling of the base or Matt of moss accumulations from boulders within creeks has been shown to be very effective method for sampling of stream sediments
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 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.
SOURCE Coast Copper Corp.
For further information, please contact: Adam Travis, CEO, Coast Copper Corp., 409 Granville Street, Suite 904, Vancouver, B.C. V6C 1T2, CanadaP: 877-578-9563, E: [email protected]
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