CopAur Minerals Commences Diamond Drilling at Williams Copper-Gold Project GIC Porphyry Target
Vancouver, British Columbia--(Newsfile Corp. - June 13, 2022) - CopAur Minerals Inc. (TSXV: CPAU) (OTCQB: COPAF) ("CopAur" or the "Company") is pleased to announce that it has commenced diamond drilling at its Williams Copper-Gold Project located in the Toodoggone region of north-central British Columbia. Drilling is currently underway at the GIC copper-gold (±molybdenum) porphyry target located 3 km to the north of the T-Bill gold zone the Company tested with 7 holes totaling 3,150 metres during 2021.
Jeremy Yaseniuk, CEO, commented, "We are happy to announce we have commenced drilling on our 2022 Williams Copper-Gold Project. The drill program designed to test a series of new copper-gold (±molybdenum) geochemical anomalies that display characteristic and magnetic IP/resistivity geophysical signatures that we believe point to a potential buried porphyry system. Come see us at the Metals Group booth at the PDAC booth 2709."
As recently announced, CopAur plans to complete up to 2,000 metres of diamond drilling testing priority drill targets at the GIC copper-gold (±molybdenum) porphyry target, a 4 km x 0.8 km copper-gold geochemical and IP/resistivity anomaly. The drilling targets distinct copper, copper-gold, and copper-gold-molybdenum surface geochemical anomalies that display magnetic, resistive, and moderate chargeability signatures with the potential to represent a buried porphyry system.
Current drilling at GIC has encountered encouraging visual signs including broad zones of intense texturally destructive silicification (quartz-sericite-pyrite), and associated domanial potassic alteration, of felspar porphyry and intermediate volcanic rocks, including disseminated and fine fracture and vein-controlled pyrite, in addition to local chalcopyrite, and molybdenite (Image 1). This style of alteration is distinct from ubiquitous propylitic alteration of host volcanic rocks and is interpreted to suggest vectoring towards a potential porphyry source.
Image 1: Evidence of texturally destructive silicification and potassic alteration at GIC target
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Limited historical drilling of 5 holes totaling 881 metres during the 2006 exploration campaign at the GIC zone targeted chargeability high anomalies interpreted as part of a phyllic-pyritic halo related to a potential buried porphyry system. This drilling intersected broad zones of phyllic alteration, and patchy potassic zones returning anomalous copper mineralization within the chargeability high anomaly. However, peak copper-gold (±molybdenum) geochemical anomalies associated with magnetic and resistive anomalies flanking the high changeability remain untested and are the target of the 2022 drilling.
Jeremy Yaseniuk, CEO, further noted, "We are also pleased to announce that Frank Lagiglia has joined the advisory board. I have worked with Frank for almost 2 decades and he has been a trusted employee and effective capital markets advisor. I am pleased to have him on board."
Williams Copper-Gold Project, British Columbia
The Williams Copper-Gold Project is located in the Toodoggone region of north-central British Columbia. The property is situated halfway between the Red Chris and Kemess North mines, and on trend with the approximately 3-million-ounce Lawyers Gold-silver deposit1,2. Williams hosts two target areas: The T-Bill area, which is prospective for mesothermal style gold mineralization, the GIC porphyry prospect which is a porphyry copper-gold target (Figure 1).
During 2021 CopAur drilled 7 diamond drill holes totaling 3,150 metres targeting the T-Bill gold zone that included bulk-tonnage and high-grade mineralization including 41.57 metres of 1.38 g/t gold with 0.70 metres of 22.00 g/t gold in drill hole WM21-07 (Figure 3). Surface exploration targeting T-Bill and GIC included 158 rock and 654 soil geochemical samples, 25 line-km of IP/resistivity geophysical surveys covering the GIC porphyry copper-gold targets and its eastern extension, and a 718 line-km property-wide airborne VTEM geophysical survey.
Figure 1. Williams Copper-Gold Project GIC and T-Bill Exploration Targets
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1Minerals resource or reserves of advanced projects are not necessarily indicative of the mineralization potential of CopAur Properties.
2Technical Report and Updated Mineral Resource Estimate on the Lawyers Gold-Silver Property, Omineca Mining Division, British Columbia, Canada, ated June 28, 2021, with an effective date of May 11, 2021, and prepared by William Stone, Yungang Wu, Jarita Barry, Eugene Puritch, Brian Ray, Frank Wright, and Mary Mioska, and filed under Benchmark Metals Inc.'s issuer profile on SEDAR (www.sedar.com).
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
For more information, please contact:
CopAur Minerals Inc.
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Email: jeremyy@copaur.com
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 news release.
Forward Looking Information
This news release includes certain statements that constitute "forward-looking information or statements" within the meaning of applicable securities law, including without limitation, conducting exploration work on its projects, receipt of assays, other statements relating to the technical, financial and business prospects of the Company and its properties, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as "social licence"); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company's prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, government regulations and policies, litigation, exchange rate fluctuations, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, decrease in the price of gold and other metals, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and 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 expressly required by applicable securities legislation.