Coast Copper Commences Drilling on the Empire Mine Property
Coast Copper Commences Drilling on the
Empire Mine Property
TSX.V: COCO
VANCOUVER, BC
,
Dec. 1, 2021
/CNW/ -
Coast Copper Corp. ("Coast Copper" or the
"Company")
(TSXV: COCO) (formerly Roughrider Exploration Limited) is pleased to announce that
it has commenced drilling on its optioned Empire Mine Property located on Northern Vancouver
Island. As previously announced on
September 9, 2021
, diamond drilling will follow up on multiple
previously identified targets. The initial priorities of the planned 3,500 metre ("
m
") program include:
Merry Widow Pit:
Drilling down dip and to the north and south of the National Instrument ("
NI
")
43-101 historical resource of 960,000 tonnes grading 2.03 grams/tonne ("
g/t
") gold ("
Au
"), 5.64
g/t silver, 0.34% copper ("
Cu
"), 0.013% cobalt, and 16.1% iron (using a 0.50 g/t Au cut-off) ¹.
This also includes infill drilling to test gaps within the historical resource.
Copper Knob:
Testing mapped magnetite skarn and pyrrhotite skarn with copper
mineralization. Coast Copper completed channel sampling in late 2020 with results returning
9.77 g/t Au and 2.35% Cu across
10.5 m
as announced on
October 20, 2020
².
Raven Pit:
Drilling below the past producing Raven Pit, which extracted approximately 22,000
tonnes of magnetite ore (historical reports note they had to close as a result of too much
copper and pyrite in the magnetite when they were specifically looking for magnetite) ³.
Benson Lake Mine
- Old Sport Horizon:
Ongoing surface Induced Polarization ("
IP
") Surveys
and initial drill testing of Cominco Resources (1972) remaining reserve blocks (454,500 tonnes
at 0.59 g/t Au and 1.3% Cu classified as "measured and indicated" and a further 2,700,000
tonnes at 1.7 % Cu (no Au grades estimated) classified as "inferred") ⁴ and possible areas on
trend.
Adam Travis
, Company CEO and Director comments:
"We have quickly transitioned from
closing our financing to commencing our drill program on Empire. We have carefully analyzed the
previous resource models with the help of Moose Mountain Technical Services and spent much of
this year doing the surface groundwork (geophysics, geology and geochemistry) to increase our
chances of exploration success. Northern Vancouver Island's extensive logging road networks and
milder climate allows us to complete work now when contractors are more readily available, and
laboratories have better turnaround times. We are also completing surface IP surveys in an area
south of the historic
Benson Lake
underground mine, where in
August 2021
we discovered a new
200 m
IP chargeability high which may represent the southernward extension of mineralization.
This mineralization was mined up until 1972 with head grades up to 2 g/t Au and 2% Cu over 4
kilometers ("
km
") of strike (note the northern 2 km off the current property) from massive sulphide
zones up to
31 m
thick. We anticipate completing this drill program by the beginning of January,
focusing first in the historical Merry Widow pit to hopefully extend copper-gold mineralization
southwards and to depth and then focus in an area up to
200 m
north of the Merry Widow pit. The
Company is planning to have initial results and drillcore on display at the Metals Investor (
January
14 -15
) and AME Roundup (
January 31
–
February 3
) conferences in
Vancouver
in 2022."
About Coast Copper Corp.
Coast Copper's exploration focus is the optioned Empire Mine Property, located on Northern
Vancouver Island, B.C., 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
Eldorado
, Gin and Bonanza properties located in the Golden Triangle of
northern B.C. which are adjacent to the Red Chris Mine, the Knob Hill NW Property located on
northern Vancouver Island and the 100% owned Sterling, Sandy and Home Brew properties which
are located in central B.C. Coast Copper's management continues to review precious and base
metals opportunities in western
North America
.
Qualified Persons
The scientific and technical information contained in this news release has been prepared, reviewed
and approved by
Wade Barnes
, P.Geo. (
British Columbia
) of Tripoint Geological Services, Coast
Copper's Geological Consultant and a Qualified Person ("
QP
") within the context of Canadian
Securities Administrators' NI 43-101; Standards of Disclosure for Mineral Projects.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis
, Chief Executive Officer and Director
Cautionary Notes Related to this News Release
Historical Information contained in this release regarding the Company's Project 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. Source information relating to these historical
estimates is very limited, and therefore, the classification and validity of the resource cannot be
validated by the author. The estimation is not N143-101 compliant and should not be relied upon.
1.
NI 43-101 Technical Report: Giroux, G.H., & Raven, W. (November 30, 2008). Technical Report on the Copper Gold Resources for the Merry Widow Property. Filed on SEDAR
January 22, 2009. The 2008 Grand Portage resource estimate was completed by Gary H. Giroux, P.Eng, MASc, of Giroux Consulting Ltd. in Vancouver, B.C. The estimate
was based on a 3D geological model integrating 4,448 metres of diamond drilling of 43 drill holes, 2,290 assays, with 104 down-hole surveys collected between June and
December 2006. The resource was reported utilizing gold cut-off grades ranging from 0.10 g/t to 3.00 g/t gold, as more particularly set out in the report. A complete copy of
the report is available on Grand Portage's public filings on SEDAR (www.sedar.com). A gold cut-off grade of 0.50 g/t gold was selected as representing one possible mining
scenario. For the purposes of the calculations, lognormal cumulative frequency plots were used to assess grade distribution to see if capping of high values was required
and if so at what levels. For all elements, capping levels were established based on the individual grade distributions as follows: Gold -- a total of 18 gold assays were
capped at 32.0 g/t gold, Silver --a total of 9 silver assays were capped at 165 g/t silver, Copper -- a total of 7 assays were capped at 11.7% copper, Cobalt -- a total of 5
assays were capped at 0.48% cobalt, Iron -- all iron assays were capped at 50% iron (the analytical detection limit).
2.
As announced in Coast Copper News Release October 20, 2020
3.
Geological, Mining History and Mineral Deposits, Merry Widow Group Property,
Warren Geiger, September 7, 2005
4.
Cominco Resources, Drill Section Maps "Plan of Cominco's Benson Lake Operations on Empire Claims Showing Ore Reserves & Proposed Exploration Program", 1970,
Private Files
. While Coast Copper notes that Cominco's historical results are not NI 43-101 compliant and have not been verified by the Company's QP, these combined
historical resources total nearly 3.154 million tonnes and will help guide Coast Copper's exploration programs
Neither 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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http://www.newswire.ca/en/releases/archive/December2021/01/c7728.html
%SEDAR: 00032945E
For further information:
Adam Travis, CEO, Coast Copper Corp, 409 Granville Street, Suite 904,
Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E: [email protected], NR21-12
CO: Coast Copper Corp.
CNW 17:05e 01-DEC-21