Coast Copper Continues Drilling at Raven Bluff and Additional New Targets; Hires Exploration Manager TSX. V: COCO
Coast Copper Continues Drilling at Raven
Bluff and Additional New Targets; Hires
Exploration Manager
TSX. V: COCO
VANCOUVER, BC
,
March 29, 2022
/CNW/ - Coast Copper Corp. ("Coast Copper" or the
"Company";
(TSXV: COCO) announces that it:
NR22-06 Figure 1 (CNW Group/Coast Copper Corp.)
has hired an experienced Exploration Manager;
has completed 5 core drill-holes during its current exploration program in the newly discovered
area at Raven Bluff;
is continuing to drill on other new targets; and,
has received all the 2021 drill results at the optioned Empire Mine property.
Coast Copper is pleased to announce that it has hired Mr.
Jesse Collison
as Exploration Manager.
Mr. Collison is an engineering geologist with more than 15 years of project management and
advanced exploration experience on a variety of deposit types. He holds a B.Sc. in Geology from the
University of Victoria
and a M.Eng. in Mining Engineering from the
University of British Columbia
. Mr.
Collison has spent the last ten years as an Engineering Geologist with Knight Piésold Ltd. as a
consultant on advanced greenfield and brownfield exploration projects across
Canada
and
the United
States
. Prior to joining Knight Piésold, he was a Mine Geologist at Taseko Mines Limited's
("
Taseko
") Gibraltar Mine and spent several years as an Exploration Geologist on many projects
throughout
British Columbia
. Most notably, he was part of the team involved with confirming the
resource at Taseko's Aley Niobium Project in 2010. Mr. Collison is a registered professional
geoscientist and member in good standing with Engineers and Geoscientists BC.
Adam Travis
, Coast Copper CEO comments,
"We are very excited to welcome Jesse to our team.
As a testament to the strength of the Empire Project, Jesse approached us after his review of
advanced exploration projects in
British Columbia
having past production similar to ones he had
been working on with Knight Piésold, where he could add significant value to a junior explorer. I
am excited about our new drilling this year targeting our new discoveries, extending them along
strike and at depth and taking that newfound knowledge into other areas of the property. Our
exploration drilling at Raven Bluff is following up on our new discovery of 7.18 g/t gold and 3.17%
copper over 16.3 metres and is progressing well with all 5 drill-holes extending the geological
strike to over 100 metres so far and to a vertical depth of 250 metres. We are also testing at depth
and along strike of the newly re-discovered Raven Pit, the West Pipe Dyke and the Lower Marten
Showing. Our 2021 results (which 16 of the 19 holes returned significant* results) are proving that
the Empire Project is a very target rich environment for copper-gold mineralization not only around
the margins of the historical iron ore pit but also in underexplored areas near other historical
occurrences and pits."
The 2022 drilling on the Empire Mine property has progressed steadily and Coast Copper has
completed 5 diamond drill holes (MW22-020, 021, 022, 023 & 026) within the newly discovered
Raven Bluff area where previous results from 2021 included
MW21-015: 7.18 grams per tonne
("g/t") gold ("Au") and 3.17% copper ("Cu") over 16.3 metres ("m") including 16.86g/t Au over
4.70 m and 4.64 g/t Au, 12.51% Cu and 197.6 g/t silver ("Ag") over
3.36 m
(as announced on
February 1, 2022
). The geological team has noted mineralization and alteration spatially associated
with greenstone dykes in similar geological fashion to last winter's drilling in all 5 drill-holes to date
(See Figure 1). The orientation of the main Raven Bluff mineralized zone is striking 330 degrees to
the northwest and dipping 72 degrees to the east which follows the general trend of the greenstone
dykes. MW21-016 was drilled at the same location as MW21-015 but at a steeper angle and thus
did not pierce completely through the Raven Bluff mineralized zone into the hanging wall, which is
host to the majority of the mineralization (see Figure 2).
Additional drilling includes 2 drill-holes (MW22-024 & 025) at the newly re-discovered buried Raven
pit where last year's drilling from drillhole MW21-017 returned 6.2 g/t Au over
1.67 m
.
One drillhole has also been completed (MW22-027) on the West Pipe Dyke (located ~100 m east of
the Merry Widow Pit). Early 1960s exploration indicated a magnetic high west of the Kingfisher
central deposit and was named the West Pipe. Historical drilling has indicated the existence of
massive magnetite as a tabular body immediately overlying the West Pipe Dyke. Its occurrence
coincides with the intersection of the dyke and the Kingfisher fault. Small lenses of pyrrhotite, pyrite,
arsenopyrite and chalcopyrite with associated gold in calcite gangue lie along the hanging wall of the
West Pipe Dyke (
Lund
, 1966). No records exist for the 1960s drilling at West Pipe and no other
drilling was completed during exploration programs in the 1980s or early 2000s.
Based on the new discoveries at Raven Bluff and our geological understanding of significant gold
and copper mineralization associated with high angled structures, drilling is also proposed at the
Lower Marten showing, which has never been drill tested as previous drillholes in the area failed in
overburden and/or fell well short of the target.
Results from the current drill program will be announced upon receipt and the completion of the
Company's stringent QA/QC procedures. The Company has also contracted underground mining
surveyors to assess the safety and overall condition of the underground Kingfisher mine.
The final assay results from the 2021 drill program included MW21-011 which targeted northwest of
the current resource block estimation and intersected 2.38 g/t Au and 0.71% Cu over
6.72 m
and
another interval of 0.86 g/t Au and 0.31% Cu over
12.75 m
. The results from MW21-011 and the
rest of the 2021 drilling around the Merry Widow resource has enabled a better geological
understanding of the Merry Widow deposit and how to best target expansion of the resource.
Coast Copper also tested the location of the Old Sport Horizon as known from the closed
Benson
Lake Mine
with drill hole MW21-018. This drill-hole was successful in intersecting the Old Sport
Horizon returning 0.38 g/t Au and 1.64 % Cu over
0.71 m
. This is extremely important as very little
information on the actual location of the Old Sport Horizon (a planar zone dipping to the west) in 3D
space was known. Now, the Old Sport Horizon can be targeted with a much higher degree of
confidence. See Table 1 for 2021 significant drill results.
A video summary of today's news release is available by clicking
here
.
Table 1: 2021 Empire Drill Program Significant* Drill Results
Zone
Hole ID
From
(m)
To
(m)
Interval**
(m)
Au
(g/t)
Cu
(%)
Ag
(g/t)
Cobalt
("Co") (%)
AuEq***
(g/t)
CuEq****
(%)
Merry
Widow
MW21-002
8.82
32.12
23.30
0.29
0.15
1.5
0.004
0.60
0.36
MW21-003
17.95
52.95
35.00
0.94
0.25
2.8
0.006
1.61
0.88
including
17.95
19.28
1.33
17.24
0.25
6.6
0.029
18.03
10.95
MW21-004
10.86
45.78
34.92
1.67
0.22
3.3
0.007
2.14
1.30
including
29.62
34.48
4.86
8.15
0.57
11.4
0.010
9.34
5.67
MW21-005
6.44
39.95
33.51
1.10
0.39
6.1
0.007
1.89
1.15
including
28.58
29.38
0.80
5.92
5.94
97.5
0.014
17.11
10.40
including
33.26
39.95
6.69
4.27
0.82
14.8
0.010
5.91
3.59
and
64.65
66.27 EOH
1.62
8.83
0.37
9.2
0.010
9.66
5.87
MW21-006
11.05
23.52
12.47
2.25
0.29
2.8
0.006
2.82
1.72
including
15.00
16.42
1.42
7.69
0.41
2.5
0.008
8.48
5.15
MW21-007
4.00
43.54
39.54
1.84
0.20
3.3
0.006
2.27
1.38
including
23.43
26.66
3.23
18.00
1.55
28.0
0.012
21.04
12.78
MW21-008
21.23
64.00
42.77
1.63
0.46
6.2
0.008
2.55
1.55
including
23.96
28.06
4.10
3.10
3.35
40.4
0.018
9.32
5.66
including
42.55
53.35
10.80
4.69
0.34
7.0
0.012
5.46
3.32
MW21-009
72.94
75.00
2.06
3.32
0.05
1.7
0.111
4.51
2.74
MW21-010 ●
64.34
64.93
0.59
0.60
0.34
6.5
0.011
1.35
0.82
MW21-011 ●
6.00
12.72
6.72
2.38
0.71
7.7
0.025
3.89
2.37
including
10.62
11.24
0.62
4.58
4.91
46.9
0.036
13.63
8.28
and
42.25
55.00
12.75
0.86
0.31
3.1
0.006
1.47
0.89
including
50.37
55.00
4.63
2.04
0.76
7.8
0.008
3.47
2.11
including
51.92
53.79
1.87
2.87
1.42
16.0
0.015
5.56
3.38
MW21-013
37.07
89.63
51.06
1.22
0.39
4.8
0.008
2.00
1.22
including
55.11
61.00
5.89
2.17
1.13
17.1
0.012
4.37
2.66
including
66.00
68.00
2.00
7.68
0.88
19.8
0.012
9.51
5.78
including
72.00
73.49
1.49
16.30
0.69
16.0
0.011
17.75
10.79
and
107.74
109.71
1.97
6.78
0.17
4.5
0.014
7.26
4.41
including
107.74
108.17
0.43
18.00
0.52
12.8
0.036
19.38
11.77
MW21-014
40.00
76.11
36.11
0.96
0.24
3.5
0.007
1.47
0.89
including
47.00
50.15
3.15
0.71
1.37
18.1
0.018
3.38
2.05
including
65.21
66.23
1.02
6.98
0.22
5.3
0.024
7.65
4.65
and
74.54
76.11
1.57
5.64
0.08
0.8
0.002
5.80
3.53
and
132
133.2
1.2
4.40
2.19
32.9
0.011
8.54
5.19
Raven
Bluff
MW21-015
15.76
16.3
0.54
4.67
5.81
38.6
0.192
16.62
10.10
and
56.55
57.47
0.92
12.90
0.65
16.4
0.009
14.27
8.67
and
77.53
79.42
1.89
11.47
0.51
13.7
0.011
12.60
7.65
and
97.78
114.06
16.28
7.18
3.17
47.8
0.056
13.57
8.25
including
100.46
105.16
4.70
16.86
0.22
1.7
0.004
17.28
10.50
including
110.70
114.06
3.36
4.64
12.51
197.6
0.209
29.87
18.15
MW21-016
208.55
211.27
2.72
0.31
0.47
4.6
0.007
1.21
0.74
and
266.96
279.00
12.04
0.55
1.06
12.2
0.007
2.52
1.53
including
272.25
273.91
1.66
1.43
4.38
60.2
0.026
9.68
5.88
including
278.00
279.00
1.00
2.49
3.49
30.2
0.021
8.84
5.37
and
295.35
297.00
1.65
1.40
0.20
2.8
0.002
1.79
1.08
Raven
Pit
MW21-017
31
32.67
1.67
6.20
0.002
0.4
0.000
6.21
3.77
and
32.67
34.7
2.03
0.36
0.28
9.9
0.067
1.61
0.98
and
53.9
54.85
0.95
0.22
0.40
2.1
0.017
1.07
0.65
Benson
Lake
MW21-018 ●
241.33
242.04
0.71
0.38
1.64
7.23
0.001
3.18
1.93
*
The intervals reported in this table represent drill intercepts and insufficient data is available at this time to state the true thickness of the mineralized intervals. **The Metal prices
used in CuEq and AgEq calculations are as follows: Gold $1750/oz, Silver $23.00/oz, Copper $4.20/lb and Cobalt $25/lb. Recoveries are assumed to be 100% for the purposes of
equivalent calculations.*** The AuEq formula used for calculations is: AuEq g/t = Au g/t + (Cu % x 1.65) + (Ag g/t x $0.013) + (Co % x $9.80).****The CuEq formula used for
calculations is: CuEq % = Cu % + (Au g/t x $0.608) + (Ag g/t x $0.008) + (Co % x $5.95). ● Results not previously reported.
QA/QC Statement on Assay Results
The 2021 drill sample collection was supervised on-site by Coast Copper personnel and sub-
contractors who inserted certified standards, blanks, and field duplicates consisting of quarter core
samples into each batch of samples at regular intervals. QA/QC samples account for 8% of the total
samples sent to the labs. Samples were sealed on site and shipped to MSALABS in
Langley, British
Columbia
for analysis. Samples were prepared by crushing the entire sample to 70% passing -
2mm, riffle splitting of 1kg and pulverizing the split to better than 85% passing 75
microns. MSALABS also conducts a rigorous QA/QC policy by inserting standards, blanks and
conducting pulp duplicates on certain drill core intervals.
All samples were analyzed by 48 element ultra-trace 4-acid ICP digestion. Copper assays >10,000
ppm and Ag assays >100 g/t were reanalyzed with an Ore Grade method. The analytical results
are verified with the application of industry standard Quality Assurance and Quality Control
("QA/QC") procedures. The gold assays were determined by 30g fire assay with AAS finish method
which reports in parts per million ("ppm; equivalent to g/t). Any samples greater than 10.0 g/t gold
were re-analyzed by fire assay method with a gravimetric finish.
Qualified Person
The technical information contained in this news release has been prepared, reviewed, and
approved by
Wade Barnes
, P.Geo. (BC) of Tripoint Geological Services, Coast Copper's geological
consultant and a Qualified Person within the context of Canadian Securities Administrators' National
Instrument 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
Eldorado
, Gin and Bonanza properties located in BC's prolific Golden
Triangle district which are adjacent to Newcrest Mining Limited's and Imperial Metals Corporation's
Red Chris Mine
, its Knob Hill NW Property located on northern Vancouver Island and its 100%
owned Sterling and Home Brew properties which are located in central 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
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.
NR22-06 Figure 2 (CNW Group/Coast Copper Corp.)
SOURCE
Coast Copper Corp.
View original content to download multimedia:
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%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]
CO: Coast Copper Corp.
CNW 08:05e 29-MAR-22