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CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to announce that it has commenced Phase 2 diamond drilling at the Jukes Cu-Au prospect on its 100% owned Razorback property in western Tasmania, Australia (Figures 1 and 2). The new program is designed to build on strong results from the 2024 Phase 1 drilling at Jukes and advance CopperCorp's goal of discovering a large, tier-one Cu-Au system comparable in scale to the nearby Mt Lyell mine camp (3 Mt contained copper and 3 Moz contained gold). The Mt Lyell operation, located 10 km north of Jukes, produced for more than 120 years and is currently the subject of restart studies by Sibanye-Stillwater aimed at returning the mine to production in the near term.
Highlights
A second drill rig on the Razorback property has been mobilized to the Jukes prospect marking a significant step-up in exploration activity across the Razorback property. Concurrent drilling at Hydes is on-going.
The new rig at Jukes is targeting strike extensions of the copper-gold system confirmed in 2024 Phase 1 drilling.
A planned 2,000-metre Phase 2 program at Jukes is currently projected to include wide step-out drilling to test strong IP chargeability anomalies located north and along strike from Phase 1 drilling. Phase 1 drilling included hole JDD002W1 which intersected1:
20.0m @ 0.76% Cu and 0.17g/t Au from 498.0m; and
19.0m @ 0.86% Cu and 0.48g/t Au from 529.0m, within a broader intercept of
50.0m @ 0.66% Cu and 0.27g/t Au from 498.0m
Recent and on-going high-definition pole-dipole IP surveys at Jukes confirm historical 1980's strike-extensive chargeability corridors which are interpreted to represent the continuity of mineralization north of previous drilling.
Stephen Swatton, President and CEO of CopperCorp, commented:
"The addition of a second rig at Jukes on the Razorback property was planned and marks a significant acceleration in CopperCorp's exploration program. With one rig continuing at Hydes and another now drilling at Jukes, we're advancing two high-priority targets in parallel. The whole premise of the Razorback drilling campaign is to rapidly test multiple targets of what we believe are pulses of Cu-Au mineralization that rose up cross cutting faults along the regional Tyennan Margin Fault. To that end current work has identified a further copper zone, Sumpters near Darwin that will be explored this coming summer.
Mining contributes A$2.8B to the Tasmanian economy each year and accounts for over 60% of its mercantile export earnings. The Tasmanian government support for the local mineral exploration industry is strong and vocal. In tangible benefits it includes fast turnaround times for drill permits (typically 4-8 weeks) and provision of significant cash grants for drilling new greenfield targets."
Jukes Phase 2 Drilling
The planned Phase 2 diamond drilling program comprises five holes totalling approximately 2,000 metres. The aim is to expand the known Jukes mineralization footprint and test high-priority IP and geochemical targets along strike from 2024 Phase 1 drilling. The program will be expanded as required based on the success of initial drill holes.
Drilling of the first hole, JDD003, is now underway, targeting the northern extension of the mineralized zone intersected in hole JDD002W1, which returned high-grade intercepts of:
- 20.0m @ 0.76% Cu and 0.17g/t Au from 498.0m, and
- 19.0m @ 0.86% Cu and 0.48g/t Au from 529.0m, within a broader intercept of
- 50.0 m @ 0.66% Cu and 0.27 g/t Au from 498.0 m.
The JDD003 target zone is positioned approximately 300 metres north along strike of JDD002W1, and 150m beneath the historical King Jukes No. 1 main adit, where 1980s channel sampling recorded3:
- 58.0 m @ 0.74% Cu and 0.39 g/t Au, including a high-grade zone of
- 18.0m @ 1.34% Cu and 1.09g/t Au.
A recently completed pole-dipole IP survey by CopperCorp indicates that the western chargeability anomaly extends beneath the King Jukes adit, providing strong geophysical support for the JDD003 target (Figures 3 and 4).
Jukes Pole-Dipole IP Survey Results
CopperCorp recently completed a four-line pole-dipole IP survey, totalling approximately 7.5 line-km of coverage, over the Jukes prospect area. The east-west oriented survey lines, each extending between 1.5 and 2.5 km across, were designed to refine target definition along strike and at depth across both the Eastern and Western IP chargeability corridors previously identified from historical 1982 Scintrex gradient array IP data.
Preliminary results indicate that the integration of the new pole-dipole IP survey with the historical 1982 Scintrex gradient array data shows a remarkable degree of correlation across both the eastern and western chargeability corridors at Jukes (Figure 3). This provides strong validation of the geophysical model and supports the interpretation of a broad, structurally controlled Cu-Au system with potential for multiple sulphide zones developed around a magnetite-rich intrusive core.
With Phase 2 drilling now underway, we are testing the northern extension of this system for the first time, and the results of this program will be important in defining the scale and continuity of what is emerging as a significant Cu-Au footprint at Jukes.
Jukes Prospect Overview
The Jukes prospect is located within the 100% CPER owned Razorback property, 10km south of the Sibanye-Stillwater owned Mt Lyell copper-gold mining camp (3Mt contained copper and 3Moz contained gold).
Jukes is characterized by strong IP chargeability, magnetic, and geochemical anomalies forming a prospective footprint at least 700m long (open) and 400m wide, with Cu-Au mineralization confirmed from surface to depths exceeding 500m vertically1.
Previous drilling, including CopperCorp's successful 2024 Phase 1 campaign, has to date tested only the southern edge of this extensive footprint, yet delivered strong Cu-Au intercepts, including:
JDD0011,2:
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
JDD002W11:
50.0m @ 0.66% Cu and 0.27g/t Au from 498.0m, including
20.0m @ 0.76% Cu and 0.17g/t Au from 498.0m; and
19.0m @ 0.86% Cu and 0.48g/t Au from 529.0m, including
2.05m @ 4.2% Cu and 1.66g/t Au from 545.4m
Historical underground adit channel sampling by CopperCorp also includes:
Jukes No.3 Main Adit (channel sampling)3:
- 31.0m @ 1.48% Cu and 0.83g/t Au, including
9.0m @ 2.92% Cu and 1.79g/t Au
Hydes Exploration Update
Drilling remains ongoing at the Hydes prospect, where progress has been challenged by extreme winter weather conditions and logistical factors unique to the site. With infrastructure upgrades now largely complete and weather conditions anticipated to improve with the onset of the summer field season, CopperCorp expects increased drilling productivity going forward. Additionally, pole-dipole IP and AMT surveys are also currently underway at Hydes.
Figure 1. Southern Skyline Project properties and exploration target areas with magnetics TMI RTP image.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8950/270333_dd630a119449bb97_002full.jpg
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.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8950/270333_dd630a119449bb97_003full.jpg
Figure 3. Oblique plan view of the Jukes prospect showing Scintrex 1982 gradient array IP survey chargeability (psuedocolour image) with recent pole-dipole (P-D) IP 2D chargeability model sections, summary drill hole and adit channel sampling mineralized intercepts, and planned hole JDD003.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8950/270333_dd630a119449bb97_004full.jpg
Figure 4. Jukes prospect pole-dipole IP survey line 5331500mN section (looking north) showing IP chargeability and resistivity 2D inversion models with planned drill hole JDD003.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8950/270333_dd630a119449bb97_005full.jpg
About CopperCorp
CopperCorp is a TSX.V listed (TSXV: CPER) exploration company focused on the exploration and development of its Skyline, and AMC copper-gold-REE projects in western Tasmania. Refer to the CopperCorp website at www.coppercorpinc.com for further information.
Qualified Person & National Instrument 43-101 Disclosure
The technical and scientific information in this news release has been reviewed and approved by Sean Westbrook, Vice President Exploration for CopperCorp, who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Information on historical and recent prospecting, mining, and exploration activities at the Skyline Project group of properties 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.
This news release may contain information about adjacent properties on which the Company does not have an interest. The Qualified Person has not verified the information, and it is not necessarily indicative of the mineralization on the Company's properties.
References
1CPER: TSXV News Release 19th December 2024
2CPER: TSXV News Release 15th October 2024
3CPER: 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
Contact:
Stephen Swatton
President, CEO & Director
stephen@coppercorpinc.com
Additional information about CopperCorp can be found on its website: www.coppercorpinc.com and at www.sedarplus.ca.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation relating to the Company's expectations and plans regarding the Skyline Project, Razorback property and the Jukes and Hydes prospects in Tasmania; plans for future exploration and drilling at the Jukes and Hydes prospects 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 with the timing and outcome of the approval process for planned drill 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 geophysical and drilling data 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.
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