(TSXV: CPER) (OTCQB: CPCPF)
VANCOUVER, BC, June 8, 2022 /CNW/ - CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to announce that it has received preliminary assay results for a further two drill holes from the Alpine Stellar Zone located in the Company's AMC Project, western Tasmania, Australia.
1. Significant mineralized intercepts include:
Hole ID |
From (m) |
To (m) |
Interval (m)1 |
Cu (%) |
Co (ppm) |
AP026 |
56 |
68 |
12.0 |
0.38 |
419 |
AP027A |
34 |
88.2 |
54.2 |
0.49 |
250 |
And |
158 |
264 |
106 |
0.31 |
143 |
1Note that true widths are uncertain. Initial interpretation by the Company is that the copper mineralization is hosted in steeply dipping zones of mineralization implying true widths in the range of 70% to 95% of reported intervals |
2. These results continue to confirm the Company's interpretation of multiple continuous, broad zones of copper mineralization at the Alpine Stellar Zone, defined to date over a strike length of 700m and open and to a vertical depth of 300m and open.
3. These results are also encouraging in further confirming the trend of these mineralized zones towards the yet untested Alpine West target, scheduled to be drilled in the next several months. Including Alpine West the prospective strike length is approximately 2.2km.
4. CopperCorp is now drilling holes to test continuity of the interpreted zones of copper mineralization to depth. Drilling is also planned to step out on these zones along strike.
Stephen Swatton, President and CEO of CopperCorp, stated, "Drill confirmation of the continuation of wide zones of copper mineralization in these drill holes is very encouraging and confirms our initial interpretation that the copper rich mineralized system hosted in multiple broad, sub-parallel steeply dipping zones is robust. This bodes well for finding further copper mineralization at Alpine Stellar Zone and other identified targets in the West and North Zones which lie adjacent to Stellar (as reported in the May 11th News release). Further drill results are expected to be released within the next 30 days as the laboratory catches up on the recent backlog of samples submitted for analysis"
At the time of reporting, the Company has completed drilling of 13 diamond core holes for a total of 4,387m at the Alpine Stellar zone, with a 13th hole (AP035) now in progress. The drill program comprises confirmation and infill holes designed to confirm historical copper grades, test continuity and extension of mineralization, and provide geological and structural context to the mineralization.
New assay results from 2 drill holes AP026 and AP027A have been received and reviewed. Both holes were successful in intersecting significant zones of copper mineralization (Table 2).
Drillhole ID |
Easting GDA94 |
Northing |
mRL |
Final |
Dip |
Azimuth |
Company |
AP026 |
341060 |
5376695 |
170 |
201.9 |
-60 |
340 |
CopperCorp |
AP027A |
341391 |
5376711 |
178 |
264.8 |
-55 |
340 |
CopperCorp |
Table 1. Alpine prospect CopperCorp drill hole location and summary data. |
Prospect |
Hole Number |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Co (ppm) |
Alpine |
AP026 |
56 |
68 |
12 |
0.38 |
149 |
AP027A |
34 |
88.2 |
54.2 |
0.49 |
250 |
|
158 |
264 |
106 |
0.31 |
143 |
Table 2: Alpine prospect significant drillhole mineralized intercepts (CopperCorp Drill Holes). Reported grades are calculated as down-hole length weighted averages. A 0.1% Cu lower cut-off grade is applied. Intercepts are downhole intervals. |
AP026, representing CopperCorp's western-most hole drilled to date at the Alpine Stellar Zone, intersected variably mineralized chloritic schist and silicified carbonate units with minor massive magnetite-pyrite±chalcopyrite mineralization present over the reported significant assay interval.
AP027A, drilled close to the central part of the Alpine Stellar Zone, intersected semi-massive banded and brecciated magnetite-pyrite-siderite±chalcopyrite mineralization from 31.2 to 88.2m massive to semi-massive magnetite-pyrite-carbonate and chloritic volcanics with chalcopyrite as veins and disseminations from 156.0 to 240.9m, and quartzite with disseminated and stringer veinlet chalcopyrite mineralization from 204.9 to 268.4m.
Assay results are pending for completed drill holes AP028 through to AP034.
The Alpine prospect was discovered by CRA Exploration in the early 1980's after following up an airborne magnetic survey with gridding, ground magnetics, and soil geochemistry followed by two diamond drill holes in 1985. Stellar Resources drilled a further 19 holes between 2006 and 2008. The historical, wide-spaced drilling intersected significant IOCG-style copper mineralization, with significant intercepts including:
Mineralization at Alpine is hosted in intensely deformed and metamorphosed amphibolites, mafic and pelitic schists, graphitic phyllites and carbonates belonging to the Bowry Formation of the Arthur Metamorphic Complex. Copper mineralization is associated with up to three sub-parallel magnetite-hematite-sulphide lenses in strongly silica-siderite altered chlorite schists (see examples in Figures 7 and 8). Mineralization consists mainly of chalcopyrite with lesser covellite and bornite. Additional chalcopyrite-pyrite breccia mineralization is hosted in silica-siderite altered and veined quartzites and schists adjacent to the ironstone lenses. Anomalous levels of cobalt is associated with the copper mineralization, typically averaging 200 to 300ppm Co and locally reaching up to 0.1% Co over short intervals.
The mineralization strikes east-northeast and dips steeply to the southeast, forming an interpreted fault-bound boudinage within the highly deformed schists of over 600m in strike length. Drilling completed to date indicates that the thickest part of the Stellar mineralized zone is over 100m in width, thinning to the west and thickening towards an interpreted faulted fold hinge in the east. The deposit remains open down dip and along strike to the west.
As previously reported1, results from recent geophysical modelling indicate that the drilled IOCG style mineralization at the Alpine Stellar Zone is defined by coincident gravity and magnetic anomalies (see Figure 1). The model further indicates additional areas of high IOCG prospectivity indicated by coincident, partially coincident, or offset gravity and magnetic anomalies – the Alpine West and Alpine North targets (Figures 2 & 3) which the Company plans to drill test.
The AMC Project covers a total of 1,066 km2 along approximately 100 km of strike length and establishes CopperCorp as the dominant owner of prospective ground in the district. The rocks are Neoproterozoic-Cambrian age and comprise a regional-scale metamorphic structural deformation zone that is host to widespread magnetite-sulphide-silicate alteration and mineralization indicative of a large Iron Oxide Copper Gold (IOCG)-style system and includes the Savage River 498 Mt @ 46% DTR magnetite mine (owned by Grange Resources Limited)3 and CopperCorp's Alpine copper prospect.
The Alpine prospect is located 30 km northwest of the local mining hub of Zeehan and within 5 km of two large-scale operating wind and hydro-electric energy plants.
CopperCorp is a well-financed mineral exploration company with approximately C$8.5M targeting world class copper-gold discoveries in western Tasmania, Australia. The Company is currently undertaking confirmation and infill drilling and ground exploration programs at the Alpine Prospect (our initial target on the larger AMC Project, formerly the Alpine Project) where wide spaced historical drilling delineated IOCG-style mineralization over a 700m strike length.
Full information on historical exploration activities and results at the Alpine prospect and AMC Project are included in the Technical Report (NI 43-101) dated 18 April 20212. CopperCorp's diamond core drill holes are drilled at HQ and NQ core diameters using triple tube to maximize recovery. Core recovery is generally good in mineralized zones (95-100%) with poorer recoveries associated with brittle faulting on zone margins. Sample collection is supervised by CopperCorp geological staff. Mineralized zones are marked up for sampling by an experienced geologist. Half core is split by diamond saw on nominal 1.0m sample lengths while respecting geological contacts. Samples are bagged and ticketed prior to delivery by Company personnel to the ALS commercial laboratories in Burnie, Tasmania, for sample preparation. The half core samples are crushed to 80% passing 2mm, riffle split to 500g and then pulverized to pass 75um. Coarse duplicate sampling is conducted every 20 samples to assess variability of the coarse crush. Cu and multi-element assay is by 4-acid digest followed by ICP-MS at ALS laboratories by method ME-ICP61a). Au assay is by 30g fire assay at ALS laboratories by method Au-AA25. Certified reference materials (CRMs), blank and duplicate QAQC samples are included in sample submissions at 20 sample intervals. All QAQC samples were within acceptable limits (2 standard deviations for CRMs, duplicates <5%).
Reported significant mineralized intervals in this news release (including for new and historical drillhole intervals) are calculated as down-hole length-weighted intercepts using a 0.1% Cu lower cut-off grade and carry a maximum internal dilution of 4m (except for AP012A which has a maximum internal dilution of 7m). The calculated intervals for historical drill holes may vary from previously reported interval calculations that used a cut-off grade of 0.3% Cu. The 0.1% Cu cut-off grade is considered to appropriately define the boundaries of mineralized zones and provides for more balanced reporting of drilling results during the exploration stage, enabling reporting of both low- and high-grade intercepts. No top-cut grade was applied. True widths of drill hole intercepts are yet to be determined.
The Company's disclosure of technical or scientific information related to the Alpine prospect and AMC Project in this news release was reviewed and approved by Sean Westbrook, VP Exploration for the Company. Mr. Westbrook is a Qualified Person as defined under the terms of National Instrument 43-101. This news release also contains information about adjacent properties on which the Company does not have an interest. Information sources regarding the adjacent properties are listed in the References section of this news release. 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.
1CPER: TSXV News Release 27th April 2022. |
2Independent Technical Report on EL2/2018 Tasmania Australia. Prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Properties (NI43-101). Effective date: 18 April 2021. |
3Grange Resources Limited, 2021. Update to Savage River Mineral Resources and Ore Reserves, ASX Release 31 March 2021. |
Additional information about CopperCorp can be found on its website: www.coppercorpinc.com and at www.sedar.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements in this news release include, but are not limited to, statements regarding: that further drill holes are being planned to infill around zones of higher-grade mineralization; that the continuation of wide zones of mineralization is very encouraging and confirms the Company's initial expectations that the copper rich mineralized system is robust, and that this bodes well for finding further mineralization at Alpine Stellar Zone and other identified targets in the West and North Zones which lie adjacent to Stellar; that further drill results are expected to be released within the next 30 days; the Company's ongoing diamond drilling program from the Alpine prospect Stellar Zone; and other business plans of the Company. 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, including risks related to: that the Company may experience difficulties in 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, and other risks and uncertainties. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no assurance that such statements will prove to be accurate, as 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. 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.
SOURCE CopperCorp Resources Inc.
Stephen Swatton, President, CEO & Director, [email protected]; Alexander Muir, CFA, Manager, Investor Relations, [email protected], 604-970-8032
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