VANCOUVER, British Columbia, Sept. 12, 2023 (GLOBE NEWSWIRE) --
Kutcho Copper Corp. (TSXV: KC, OTCQX: KCCFF)
(“Kutcho Copper” or the “Company”) is pleased to announce it has completed airborne geophysical surveys over its entire prospective package of mineral rights that already hosts three volcanogenic massive sulphide (“VMS”) copper-zinc deposits – Main, Sumac and Esso. The objective of the recently completed airborne geophysical programs was to test for:
- Potential extensions to the three known massive sulphide deposits;
- Potential new massive sulphide deposits in the vicinity of the three known deposits, particularly immediately west of the highest-grade Esso deposit; and
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Potential for new deposits in areas where the prospective stratigraphy is repeated to the south of the main trend by folding and faulting.
Vince Sorace, President & CEO of Kutcho Copper comments: “Given that VMS deposits tend to occur in clusters, and that historical geophysical surveys had limited coverage and depth penetration, we believe there is potential for new discoveries in all three categories noted above. We have been able to demonstrate the depth penetration ability of the ZTEM method is in excess of 800m and have used the preliminary survey results to focus a seismic survey at Esso West. The correlation of the preliminary ZTEM and seismic data is very encouraging at Esso West and this combination of surveys will aid in drill targeting. We are further encouraged that several more ZTEM and VTEM targets exist across the Project including some in areas that have never seen prior exploration activity. We are looking forward to seeing the final data and completing our modeling and interpretation to feed into our drill targeting.”
Preliminary Results
Geophysical surveys have now been completed. Based on preliminary field interpretations, the ZTEM survey has detected an anomaly somewhat shallower than Esso and to the west, suggesting some of the deeper historical drilling that did intersect anomalous copper and zinc in this area may have passed down dip of this anomaly.
In addition, the preliminary field interpretations of the ZTEM and VTEM data over the prospective, repeated stratigraphy to the south of the Main-Sumac-Esso trend also appears to have detected several anomalies in previously unexplored areas. Detailed interpretations are in process for the entire data set.
Building on the results of the VTEM and ZTEM surveys around the Esso deposit, Kutcho Copper is amidst completing a deep-penetrating seismic survey and preliminary results appear to be delineating the main known geologic features. Kutcho has also deployed geological personnel to site to re-examine historic drill core (where available) from holes in the vicinity of newly defined ZTEM anomalies from the preliminary data to help vector towards, and define, drill targets and complete field surveys over the Esso West and regional targets. Further and final results from both geophysical surveys and other targeting methodologies will be released in the coming weeks.
Survey Details
Kutcho contracted Geotech Ltd to conduct a high resolution VTEM survey (“Versatile Time domain Electro-Magnetic plus total magnetic intensity”) on 100m line spacings for a total of 802 line km, as well as conduct a high resolution ZTEM survey (Z-Axis Tipper Electro-Magnetic) on 200m line spacings for a total 1,557 line km over the Kutcho Project. Initial interpretation on the preliminary VTEM and ZTEM data and targets will be announced once the final data is received and processed.
Frontier Geoscience have completed seven linear km of an expected nine linear km high resolution seismic program. Analysis and interpretation of results over the Esso Deposit reveals features that can be correlated with known important geological features within the volcanic stratigraphy above, below and intimately associated with mineralization. The same features can be interpreted on seismic section lines 300m and 800m, moving into the Esso West target area. The surveys have also confirmed that the seismic data can be correlated with known features in drilling to 1,000 m depth.
These programs represent the first time that the highly effective modern VTEM and ZTEM geophysical techniques will have been deployed together, along with focused seismic, to conduct an evaluation of the most prospective mineralized horizons that already host the three known VMS deposits. This is the first exploration initiative at Kutcho in over 12 years.
The Kutcho Project encompasses ~90% of the prospective Kutcho Formation rocks east of Dease Lake, B.C. These prospective volcanic rocks are folded, repeating the favourable mineralized horizon that hosts the Main, Sumac and Esso volcanogenic massive sulphide (“VMS”) deposits three times within the Project boundary, including the areas hosting the known deposits.
Figure 1 – Location of VTEM, ZTEM and Seismic surveys
Qualified Persons
The technical or scientific information in this press release has been reviewed and approved by Andrew Sharp, P.Eng. BC (Lic. No. 47907), FAusIMM, Chief Operating Officer for Kutcho Copper, who serves as a qualified person under the definition of National Instrument 43-101.
About Kutcho Copper Corp.
Kutcho Copper Corp is a Canadian resource development company focused on expanding and developing the Kutcho high grade copper-zinc project in northern British Columbia. Committed to social responsibility and the highest environmental standards, the Company recently completed a feasibility study on the Kutcho project and is advancing permitting with the objective of getting to a positive construction decision.
Vince Sorace
President & CEO, Kutcho Copper Corp.
For further information regarding Kutcho Copper Corp, please email info@kutcho.ca or visit our website at www.kutcho.ca .
Cautionary Note Regarding Forward-Looking Statements
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.
This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “potential”, “prospective” “targets” and similar expressions, or that events or conditions “will” occur. Although Kutcho Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the results of the geophysical programs and their ability to define targets, if any, and whether or not such targets represent mineralization of potential economic interest; the Company’s ability to fund follow-up drill testing of any targets identified and the results of such follow-up work. In respect of the Company’s feasibility study referenced herein, material risks and uncertainties include the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop the Kutcho project or its other projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the potential to convert inferred resources to indicated or measured resources, the potential to optimize the mine plan, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the Kutcho project and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0d810550-d2c7-4e0a-a599-24c3df54471f
