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CopperCorp Commences Drilling at Razorback18.01.2024 | 13:30 Uhr | Newsfile
Vancouver, January 18, 2024 - CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) (FSE: NU0) ("CopperCorp" or the "Company") is pleased to announce that it has commenced its 2024 exploration program. Drilling has started at its Razorback rare earth and copper property in western Tasmania, Australia. CopperCorp is planning to complete up to 5,000m of diamond drilling at Razorback in 2024. Further drilling may be considered subject to permitting, results and market conditions. The Company also intends to drill-test other highly ranked prospects in the Company's portfolio as the season progresses. The Company is well financed with $5.5M in working capital. All of CopperCorp's projects are located within the highly prospective mining district of western Tasmania where there are currently 5 mines in operation. The state of Tasmania actively supports exploration and mining activity and is 100% powered by renewable energy. Highlights of the current drilling campaign
CopperCorp CEO Steve Swatton commented, "As mid-summer approaches in Tasmania we are excited to start our 2024 exploration program and to see the drill turning at Razorback. Located along trend from Mt. Lyell, a 3Mt copper mine, the granting of Razorback is a strategic highlight for CopperCorp and further enhances the Company's portfolio of high-quality exploration projects. To receive the necessary permissions to drill in a matter of approximately 2 months speaks to the proactive stance the state of Tasmania takes to supporting responsible exploration and mining activities. The outlook for copper and critical metals such as REE's could not be more positive at this moment in time. I look forward to informing our shareholders on progress of the Company's drilling and exploration programs on a regular basis." Planned Drill Program About the Darwin Zone Target Area The IOCG style mineralization drilled at South Darwin comprises vein, breccia and semi-massive to massive magnetite-pyrite-chalcopyrite. The previous drilling returned a best intercept of 13.0m @ 1.2% Cu and 0.45g/t Au from 345m (SDD005)2,4 and the same hole also intercepted significant rare earth element mineralization2,4 including 30.0m @ 2.26% TREO from 296m1. Recent resampling1 of historical drill core has confirmed that the high-grade REE mineralization at South Darwin is enriched in critical listed and valuable REE minerals (see Table 1).
Table 1. Rare earth oxide values from significant drill hole intercept in SDD005 30.0m @ 2.26% TREO (1.0% TREO cut-off). Values have been rounded. Magnet Rare Earth Oxides (MREO) are shaded. Preliminary assays from reconnaissance field sampling carried out by the Company1 has confirmed high-grade REE mineralization in outcrop at the South Darwin prospect with rock chip samples returning 14.28% to 18.58% TREO. The high-grade mineralization appears to be associated with a biotite-allanite-monazite bearing late-stage intrusive rock. Importantly, these rocks chip samples were taken approximately 1km southeast of the high-grade REE intercept in drill hole SDD005 that will be followed up in the planned drill program. Other Work Programs Compilation of historical drilling and adit sampling data at the Jukes target where historical drill intercepts include 13.4m @ 1.6% Cu and 1.6g/t Au from 61.6m (JP02, Jukes prospect) is in progress towards developing a 3D geological model and drill hole planning.
To view an enhanced version of this graphic, please visit: Option Grant About CopperCorp Quality Assurance / Quality Control on Assay Results Mineralized Interval Calculations Rare Earth Element Calculations TREO (Total Rare Earth Oxides) values were calculated by the formula: TREO = CeO2 + La2O3 + Nd2O3 + Pr6O11 + Sm2O3 + Gd2O3 + Dy2O3 + Eu2O3 + Er2O3 + Tb4O7 + Ho2O3 + Tm2O3 + Lu2O3 + Yb2O3 + Y2O3. MREO (Magnet Rare Earth Oxides) values were calculated by the formula: TREO = Nd2O3 + Pr6O11 + Sm2O3 + Gd2O3 + Dy2O3 + Tb4O7 + Ho2O3. Standard element to oxide conversion factors have been used in the calculation of rare earth oxide values from elemental assay values. Qualified Person References Contact: CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation relating to the scope and timing of exploration at the Razorback property, plans for future exploration and drilling 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 exploration and drilling; the timing and content of upcoming work programs; geological interpretations based on drilling 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. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194706 Dieser Artikel stammt von Rohstoff-Welt.de
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