Carube Copper to Explore High-Priority Drill Targets at Bellas Gate, Jamaica Immediately Plans to Expand on 339 Metre Copper and Gold Rich Intersection
FOR IMMEDIATE RELEASE
OTTAWA, ONTARIO
January 12, 2017
Carube Copper to Explore High-Priority Drill Targets at Bellas Gate, Jamaica
Immediately Plans to Expand on 339 Metre Copper and Gold Rich Intersection
Carube Copper Corp. (CUC:TSXV) Mr. Jeff Ackert, President and CEO of Carube Copper is pleased to
announce that Carube Copper Corp has defined over twelve hi gh-priority targets, and plans to drill at least four of
them in the coming months. The drill targets were prior itized based on the presence of significant drill intersections
and a review of all results from the la st several years of exploration by the former OZ Minerals/Carube Copper
joint venture.
$15M Spent to Date
The review was based on over $15M wo rth of exploration work completed on the Bellas Gate Project, including
high-resolution magnetic and radiometric airborne surveys, 46 line kilometres of Induced Polarization (IP) surveys,
over 10,000 soil samples, 400 rock chips and over 17,000m of core drilling.
Mr. Ackert stated: After an in-depth analysis and interpretation of all of the new geophysical,
geochemical, geological mapping da ta and drilling information collected by the joint venture, we are
delighted with the incredible quality of targets that are ready to drill at Bellas Gate. OZ Minerals’
exploration work over the last severa l years has confirmed that significant copper and gold porphyry
systems exist at Bellas Gate. Our recent review of the exploration data has created a porphyry model that
helped us develop a large number of very promising, high-priority drill targets. We are highly motivated
to drill these.
First Priority Targets
The Provost Target lies within the Southern Alteration Zone (SAZ) and will follow up on results from drill holes:
• PVT-16-002, which intersected 339m of 0.34% CuEq (0.28%Cu, 0.12 g/t Au), including 10m of 1.79%
CuEq (1.28%Cu, 0.90 g/t Au)¹; and
• PVT-16-001, which intersected 82m of 0.46% CuEq (0.37%Cu, 0.16 g/t Au), including 29m of 0.63%
CuEq (0.49%Cu, 0.24 g/t Au)¹.
The Provost Target area is the top prior ity for Carube as Hole PVT-16-002 inte rsected some very strong porphyry
copper mineralization with intense alteration and veining. Alteration assemblages encountered in both PVT-16-001
and PVT-16-002 suggest a propylitic assemblage interpre ted as the margins of a porphyry deposit. The proposed
holes to follow up this intersection will be approximate ly 100m and 200m south of PVT-16-002 and will drill
beneath the strongest copper in soil anomaly on the ta rget. This area also has e nhanced gold, silver and
molybdenum in soils. Porphyry pathfinder geochemistry e xhibits depletion in manganese and an enrichment in
bismuth and selenium and points to a broad porphyry system at moderate dept h. The magnetics and IP-
chargeability also show characteristics favourable to the presence of a significant porphyry system.
The Provost SE Target is located 1.25km southeast of the Provos t target and also lies along the SAZ, which
includes a corridor of manganese depletion and enrichment in bismuth, selenium and other porphyry cap
pathfinders. Copper, gold, silver and molybdenum are also highly enriched in the Provost SE target area. Surface
mapping has outlined several alteration zones marked by limonite, hematite and quartz as well as a zone of epidote,
chlorite ± sericite. The magnetic signature at the Provost SE target area shows a slight magnetic high within an area
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of mag low, very similar to the magnetic signature at th e Connors Porphyry. IP chargeability is in the 20 to 30
millirad (MRad) range at surface, broadening at depth, all favourable to the presence of a porphyry system.
The Connors SE Target area is inferred to be one of a series of por phyries within the Northern Alteration Zone
(NAZ) that includes the Connors Porphyry, which is locat ed just over 1.0km to the northwest. The NAZ has a
porphyry pathfinder geochemistry signature similar to the signatures over copper porphyries throughout the SAZ
such as Hendley, Provost, Camel Hill and Geo Hill. At Connors SE, copper, gold, molybdenum and porphyry
pathfinder soil anomalies are separated by a high bedroc k ridge composed of volcanics; the porphyry indicator
anomalies are muted on this ridge due to the rock thickness. The target ar ea also exhibits a strong Ti-Zr ratio
indicative of a porphyry intrusive system.
The Hendley Target is located in the SAZ. Drilling will focus on following up on drill hole:
• HEN-15-003, which intersected 261m of 0.22% Cu and 0.07 g/t Au¹.
It will be drilled from the same collar as HEN-15-003, wh ich intersected porphyry mineralization, and will target
high copper and gold in soil anomalies. Porphyry path finder elements suggest a porphyry-type body(ies) at
moderate depths. Some of the geochemistry in the central part of the target area is muted by conglomerate cover.
The IP chargeability and resistivity anom alies, which characterize this target , indicate a mineralization system at
shallow to moderate depths.
¹The intervals do not necessarily indicate true width of mineralization, as its geometry is not known. Copper equivalents are calculated using
a US $3.00/lb. copper and a US$1200 per ounce gold price assuming unlimited internal dilution and 100% recovery of both metals.
Other Target Areas
Other Priority targets areas include Hendley West, Diam ond Creek, Simon, Geo Hill, GP, Charlie, Upper Ginger,
Lucky Valley SW and Camel Hill. (See attached Figure 1.)
Through the review of the extensive database, it was reali zed that the soil geochemistry and IP surveys have been
important tools for generating drill targets. A number of areas will be covered with infill soil geochemistry, notably
between the SAZ and NAZ, which both host numerous porphyries. IP surv eys will be completed as required
between a number of the previously surveyed lines and to cover areas that show promise of buried porphyry
mineralization to the south of the existing survey.
QP Statement: This press release has been reviewed and approved by Dr. Vern Rampton, P. Eng., in his capacity as
a qualified person as defined under NI 43-101.
— END PRESS RELEASE —
Contacts
Jeff Ackert, President and CEO • 1-613-839-3258 • [email protected]
Vern Rampton, Executive VP of Corporate Development • 1-613-839-3258 • [email protected]
Alar Soever, Chairman • 1-705-682-9297 • [email protected]
www.carubecopper.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.
Carube Copper Corp. (CUC:TSXV) is a Canadian exploration company focused on the exploration and
development of copper and gold projects in Jamaica and Canada. In Jamaica, Carube Copper will hold, subject to
finalization of the final agreement with OZ Minerals, a 100% interest in 11 projects, totalling over 500 square
kilometres. In Canada, Carube Copper holds a 100% interest in three porphyry copper-gold-molybdenum
properties, totalling 593 square kilometres within the Te rtiary-aged Cascade Magmatic Arc in southwestern British
Columbia. Exploration continues on these properties with the goal of joint-venturing them to larger exploration and
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mining companies. Carube Copper continues to seek opport unities in Canada and the Caribbean for acquisition and
development.
DISCLAIMER & FORWARD LOOKING STATEMENTS
This news release includes certain “f orward-looking statements” which are not comprised of historical facts.
Forward-looking statements are based on assumptions and address future events and conditions, and by their very
nature involve inherent risks and uncertainties. Alt hough these statements are based on currently available
information, Carube Copper Corp. provides no assurance th at actual results will meet management’s expectations.
Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR. Undue
reliance should not be placed on “forward looking statements”.
IMPORTANT NOTICE: By reference herewith, Carube Copper in corporates into this release the entire
disclaimer set forth on its website at http://carubecopper.com/disclaimer.htm
Figure 1: Location of Priority Target Areas at the Bellas Gate Project, Jamaica.
Figure 2: Provost Target: Follow up high values in PVT-16-002 Figure 3: Provost SE Target has not been drilled. High copper, gold and
moly in soils. Coincident IP and trace element porphyry indicators.
Figure 4: Connors SE Target: Copper, gold and molybdenum in soil
anomalies. Trace element porphyry indicators.
Figure 5: Hendley Target: Follow up significant values in HEN-15-003. IP
chargeability and resistivity anomalies.