Coast Copper Announces Exploration and Corporate Update
Coast Copper Announces Exploration and
Corporate Update
TSX.V: COCO
VANCOUVER, BC
,
Dec. 10, 2024
/CNW/ -
Coast Copper Corp. ("Coast Copper" or the
"Company")
(TSXV: COCO) is pleased to announce the results of its second phase work program
on its 100% owned Knob Hill NW property as well as the acquisition of the Hanson property in
northwestern
British Columbia
("
BC
"),
Canada
.
COCO NR24-13 Figure 1: Hanson Property (CNW Group/Coast Copper Corp.)
Knob Hill NW Property Update (Northern Vancouver Island, BC)
As announced on
September 23, 2024
, Coast Copper completed a second phase program on its
Knob Hill NW property located on northern Vancouver Island at the west end of the historical Island
Copper Belt. This work followed up on initial copper ("
Cu
") and gold ("
Au
") results noted along the
magnetic highs and along trend with Northisle Copper and Gold Inc.'s ("
Northisle
") Cu-Au porphyry
deposits¹. The gold-rich, porphyry-style copper mineralization at Northisle's NW Expo deposit was
delineated in 2024 and is located 4 kilometers ("
km
") east of the Knob Hill NW property.
The Northisle deposits are spatially related to tabular magnetic high geophysical features which are
similar to those observed on the Knob Hill NW property in the area where Coast Copper's 2024 field
work collected rock and moss mat samples that are highly anomalous in copper and gold. The fall
2024 sampling results returned elevated copper-in-soils (copper values up to 1,031 parts per million)
from the west central portions of the property and are associated with a 1.1 km by 3.6 km magnetic
high. The elevated gold (gold values up to 863 parts per billion) in moss mat samples occur along
the southeastern portion of the property and are located on the edge of a large magnetic high trend
similar to Northisle's deposit¹. This combined area represents a large 4 km by 7 km region
containing interesting magnetic data bracketed by anomalous copper and gold in limited sampling.
Further prospecting, mapping and soil sampling is recommended in 2025.
Hanson Property Acquisition (Babine Porphyry Belt, see Figure 1)
Coast Copper is pleased to announce that it has staked the road accessible Hanson property
located 150 km west- northwest of
Prince George
in the Babine Region of northwestern BC and 25
km north of Centerra Gold Inc.'s Endako Molybdenum ("
Mo
") mine. Given the widespread glacial
cover, there is a possibility of finding a significant porphyry deposit particularly in areas that were not
previously tested by drilling.
The Hanson property is within the southern portion of the under explored Stikine Terrane, one of
BC's most prolific Cu-Mo-Au belts which includes Glencore Canada Corp.'s past producing Bell and
Granisle
mines, the Endako mine and Pacific Booker Minerals' advanced stage Morrison deposit. In
addition, new discoveries and active exploration programs on the north part of the belt by American
Eagle Gold at its NAK Cu-Au porphyry and Amarc Resources/Boliden Minerals at their Duke Cu-Mo
porphyry ¹ provide evidence of continuing success in the area.
The Hanson property overlies a complex mix of intrusive, extrusive and metamorphic rocks that are
extensively covered with glacial overburden, but where exposed, frequently exhibit alteration and
host sulphide mineralization characteristic of intrusive related hydrothermal systems.
Mineralization at Hanson occurs as:
1
.
low-grade copper and molybdenum in fracture controlled stockworks within coarse grained
quartz monzonite,
2
.
silicified zones with anomalous gold, silver, zinc, lead in quartz porphyry/quartz feldspar
porphyry of probable Tertiary age,
3
.
silicified zones with anomalous zinc, lead, gold and silver values in felsic breccia, and
4
.
shear zones with anomalous copper and gold in older quartz diorite/amphibolite.
Sulphides occur in all areas principally as chalcopyrite, sphalerite, molybdenite and galena. Many of
the soil anomalies and coincident ground IP anomalies defined by previous work have not been fully
tested and these may be related to sulphide mineralization in bedrock. A 2012 airborne geophysical
survey suggests there are significant conductivity anomalies outside of the main areas of previous
exploration².
There has been intermittent historical work conducted on the Hanson property since the 1960's, with
results highlighted by:
1972 drillhole H2 which returned 9.14 meters ("
m
") of 20.0 grams per tonne ("
g/t
") Ag, and 0.60
g/t Au ².
1973 drillhole P8 which returned
91.44 m
of 0.15% Cu and 0.012% Mo ².
Trench 89-T-12 completed in 1989 returning 0.37 g/t Au, 1.4 g/t Ag and 0.295% Cu over
70.2 m
³, and
1990 drillhole H90-3 which returned
22 m
of 0.2% Cu and 0.1 g/t Au ².
Coast Copper will continue its review and compilation of the historical work on the property in
preparation for the 2025 exploration field season.
Adam Travis
, CEO comments:
"
In
May 2024
we proposed to use proceeds from a private
placement for the following four main objectives:
1
.
to make the final payment due
September 2024
in relation to the Company's optioned Empire
Mine property mineral claims (completed
May 28, 2024
);
2
.
to conduct field work on the newly acquired Sully property located adjacent to PJX Resources
Inc.'s
Dewdney Trail
property¹ (completed
September 23, 2024
);
3
.
to continue Coast Copper's strategic mineral property acquisition program with the acquisitions
of the Sweeney and the Hanson Properties by low cost staking and acquisition (
August 14, 2024
and
September 3, 2024
); and
4
.
for working capital and general corporate purposes.
We have successfully achieved these milestones in a very cost-effective manner. We continue to
target the expansion of the mineral resource estimates at our flagship Empire mine project and are
also reviewing many other corporate and property opportunities that may strategically position the
Company for success in a rising metals market. Our recent acquisition of the Hanson property by
staking an underexplored portion of the Stikine Terrane is an example of this strategy. Although the
property is under glacial cover, where rocks are exposed, they are frequently altered and
mineralized which bodes well for the potential for new discoveries, similar to others that have been
previously made in the same region."
AGM Results
At the Company's Annual General Meeting held on
December 4, 2024
, all resolutions presented to
shareholders were overwhelmingly approved with over 40% of total shares outstanding voted in
favor of each resolution. The following resolutions were approved by the Company's shareholders:
1
.
The number of Directors of the Company was set at four (4);
2
.
Fletcher Morgan
,
Adam Travis
, Dale Wallster and
Dan Berkshire
were elected Directors of the
Company; and
3
.
Davidson & Company LLP, Chartered Professional Accountants, were re-appointed as the
auditors of the Company.
Stock Option Grant
The Company also announces that it has granted a total of 2,025,000 stock options to Directors,
Officers, employees and consultants of the Company. Each stock option is exercisable into one
common share of the Company, subject to certain vesting requirements, at an exercise price of
$0.05
per share with an expiry of
December 9, 2029
. The stock options are subject to TSX Venture
Exchange approval.
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 within the context of the Canadian Securities Administrators' NI 43-101; Standards of
Disclosure for Mineral Projects.
About Coast Copper Corp.
Coast Copper's primary exploration focus is the 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. In 2023, Coast Copper launched a
generative program aimed at advancing its other properties in parallel with Empire. In 2024, Coast
Copper acquired two new projects bringing its total number of 100% owned projects in BC to six,
consisting of the mineral titles comprising the Empire Mine property, the Sully property located in
southeastern BC, the Knob Hill NW property located on northern Vancouver Island, the Home Brew
property located in central BC, its Sweeney property located in the central interior of 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 metal opportunities in western North America.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis
, Chief Executive Officer and Director
Cautionary Notes in News Release and/or Maps
1 This news release may contain information about adjacent properties on which Coast Copper has
no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are
not indicative of mineral deposits on the Company's properties.
2 BC Assessment Report 33,278 and 34,087, prepared for Stone Ridge Exploration Corporation in
2012 and 2013
3 BC Minfile Record Summary
093K
125.
MINFILE Mineral Inventory
.
4 Amarc Resources Ltd website, Duke Project Highlights map
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 a guarantee 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:
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], NR24-13
CO: Coast Copper Corp.
CNW 13:00e 10-DEC-24