Coast Copper Acquires Ground Adjacent to PJX Resources New Sullivan Style Mineralization Discovery
Coast Copper Acquires Ground Adjacent to
PJX Resources New Sullivan Style
Mineralization Discovery
TSX.V: COCO
VANCOUVER, BC
,
Feb. 12, 2024
/CNW/ -
Coast Copper Corp. ("Coast Copper" or the
"Company")
(TSXV: COCO) is pleased to announce that it has staked the Sully mineral claims
("
Sully
" or the "
Property
") adjacent to PJX Resources Inc.'s ("
PJX
") recent massive sulphide zinc,
lead and silver discoveries located approximately 35 kilometers ("
km
") east of the past producing
Sullivan Mine (which was in operation from 1900 to 2001) near
Kimberley BC
.
The Sully property is comprised of 3 mineral claims covering 5,134.52 ha and located adjacent to
PJX (see Figure 1) where it announced that it recently discovered significant zinc and lead
mineralization in outcrops that further supports the potential to discover a Sullivan type mineral
occurrence on the PJX property¹. The Sully property covers ground that hosts the strike extension to
the north of the favourable Aldridge Formation, cross structures to the northeast and additional
ground to the east of the PJX discovery. Historical regional geochemical surveys ("
RGS
")² on the
Sully property have returned anomalous results of silver and lead in-stream sediments³ which
warrant further investigation as well as follow up on the 1999 discovery of tetrahedrite (silver
mineral) in brecciated limestone at the Red Zone and unexplained lead, zinc, silver and gold
anomalies in soils to the north. Rock grab sample 125679 taken in 1999 by Mr. Travis returned
1.675 grams per tonne ("
g/t
") gold, 228 g/t silver, 3.83% copper, 3,010 parts per million ("
ppm
")
lead and 4,270 ppm zinc⁴ and attest to exploration potential of the area within 10 km of the new PJX
Discovery.
Adam Travis
, CEO of Coast Copper
comments: "Although we remain focused on our flagship
Empire Mine property and continue to expand our understanding of the past producing
Benson
Lake
and Merry Widow Mines as well as prepare for future drill programs, this opportunity to
acquire ground adjacent to the newly discovered Sullivan style mineralization by PJX Resources
was too good to pass up, especially considering the only cost to the Company was staking fees. I
previously worked in the area in 1999 under the Prospectors Assistance Program and made new
silver, gold, lead and zinc discoveries and we are excited to get back to the region and follow up
some of my previous anomalies in the context of these new discoveries by PJX."
Coast Copper News Release Figure 1 NR24-02 (CNW Group/Coast Copper Corp.)
Qualified Persons
The technical information contained in this news release has been prepared, reviewed, and
approved by
Wade Barnes
, P.Geo. (BC), Coast Copper's geological consultant and a Qualified
Person ("
QP
") within the context of the Canadian Securities Administrators' National Instrument
("NI") 43-101; Standards of Disclosure for Mineral Projects.
About Coast Copper Corp.
Coast Copper's exploration focus is the optioned Empire Mine property, located on northern
Vancouver Island, BC, which covers three historical open pit mines and two past-producing
underground mines that yielded iron, copper, gold, and silver. Coast Copper's other properties
include its 100% owned Knob Hill NW property located on northern Vancouver Island, its Home Brew
property in central BC, and its
Scottie West
property located in the "Golden Triangle" of northern
BC. Coast Copper's management team continues to review precious and base metals opportunities
in western
North America
.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis
, Chief Executive Officer and Director
Cautionary Notes on Release and/or Figures
1
.
This News Release may contain information about adjacent properties on which Coast Copper
Corp has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent
properties are no indicative of mineral deposits on the Company's properties.
2
.
Historical information, maps or figures contained in this release regarding Coast Copper's
Empire Mine Property or adjacent properties cannot be relied upon as the Company's QP, as
defined under NI-43-101 has not prepared nor verified the historical information.
3
.
Regional Geochemical Survey Data sourced from British Columbia Geological Survey, Map
Place.
4
.
A Summary of Reconnaissance Geological Mapping, Prospecting, Rock Chip Sampling and
Stream Sediment Sampling Completed on the Tiger 1-14 Mineral Claims,
Adam Travis
, 1999.
PAP99-40. Prospectors Assistance Program.
5
.
PJX Resources Inc Website,
January 15, 2024
news release.
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any
information regarding the proposed Transaction, private placement, board, and management
changes, as to our strategy, projects, plans or future financial or operating performance,
constitutes "forward-looking statements." All statements, other than statements of historical fact,
are to be considered forward-looking statements. Forward-looking statements are necessarily
based on a number of estimates and assumptions that, while considered reasonable by Coast
Copper, are inherently subject to significant business, economic, geological, and competitive
uncertainties, and contingencies. Although Coast Copper believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance. Known and unknown factors could cause actual results to differ
materially from those projected in the forward-looking statements. Such factors include but are not
limited to fluctuations in market prices, exploration and exploitation successes, continued
availability of capital and financing, changes in national and local government legislation, taxation,
controls, regulations, expropriation, or nationalization of property and general political, economic,
market or business conditions. Many of these uncertainties and contingencies can affect our actual
results and could cause actual results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-
looking statements are not guarantees of future performance and, therefore, readers are advised
to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in
this press release, or incorporated by reference, are qualified by these cautionary statements. We
do not assume any obligation to update any forward-looking statements.
SOURCE
Coast Copper Corp.
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For further information:
please contact: Adam Travis, CEO, Coast Copper Corp, 409 Granville
Street, Suite 904, Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E:
[email protected], NR24-02
CO: Coast Copper Corp.
CNW 08:05e 12-FEB-24