Coast Copper Drills 4.1 m of 5.66% CuEq Near Surface from Merry Widow Zone on Empire Mine Property
Coast Copper Drills 4.1 m of 5.66% CuEq Near
Surface from Merry Widow Zone on Empire
Mine Property
TSX.V: COCO
VANCOUVER, BC
,
Jan. 25, 2022
/CNW/ -
Coast Copper Corp. ("Coast Copper" or the
"Company")
(TSXV: COCO) is pleased to announce the first batch of assay results from its initial
19 drillhole (2,346 metre) core drilling program completed in
December 2021
on its optioned Empire
Mine Property (the "
Property
"); see news release dated
December 20, 2021
. Results reported are
from eleven drillholes (MW21-001 to MW21-009, MW21-013 and MW21-014) that were drilled in
and around the past-producing Merry Widow magnetite iron ore pit, which is one of ten main target
areas on the property. Past mining by Empire Development Ltd. (1957-1967) at the Merry Widow
Pit noted pyritic and copper sulphide skarn zones that forms around the margins of magnetite
bodies, fault zones and greenstone dykes but avoided them to minimize contaminating their
magnetite concentrate. These sulphide zones were later (1980s) learned to also contain significant
copper and gold and yet to this day have never been fully explored (See Figure 1).
COCO NR22-01 Figure 1 (CNW Group/Coast Copper Corp.)
The objectives of the
December 2021
drill program was to conduct an initial one-month best
practice, modern drill program prior to Christmas on some of the many shallow sulphide targets near
the Merry Widow Pit and 2008 Grand Portage Resources
1
. This work was done to infill, confirm and
possibly extend mineralization, to expedite sampling and assaying, and to learn both logistically and
geologically how to plan for larger programs in 2022. These objectives were met, and the assay
results provide positive reconciliation with historical drilling and demonstrate the existence of broad
zones of mineralization containing significant copper and gold intercepts.
Merry Widow Zone: 2021 Core Drill Exploration Program Highlights
Quick turnaround: financing closed on
November 29, 2021
, drilling finished on
December 20, 2021
Coast Copper's first core drilling of the Merry Widow Zone; one of ten main target areas on the
Property returned significant copper, gold, and magnetite results (see following Tables 1 to 3
and Figure 1).
Broader intercepts included:
MW21-004: 1.67 grams per tonne ("g/t") gold ("Au") and 0.22%
copper ("Cu") over 34.92 metres ("m"); MW21-007: 1.84 g/t Au and 0.20% Cu over
39.54
m
; MW21-008: 1.63 g/t Au and 0.46% Cu over
42.77 m
and MW21-013: 1.22 g/t Au and
0.39% Cu over
51.06 m
.
High-grade intercepts included:
MW21-004: 8.15 g/t Au and 0.57% Cu over
4.86 m
; MW21-
007: 18.00 g/t Au and 1.55% Cu over
3.23 m
; and MW21-008: 4.69 g/t Au and 0.34% Cu
over
10.80 m
.
Although iron-hosting magnetite zones were not targeted in this program, many zones were
intercepted at margins of the historical Merry Widow magnetite iron ore workings indicating
potential to increase the magnetite resource (see Table 2).
Half of the initial drillholes terminated prematurely in underground workings often ending in
mineralization, for example MW21-003 intersected 1.18 g/t Au and 0.36% Cu over the final
3.30
m
and MW21-005 intersected 8.83 g/t Au and 0.37% Cu over the final
1.62 m
.
First core drill program on the Property to geologically log, photograph, complete systematic
magnetic susceptibility and specific gravity measurements, sample the entire length of the drill
core, properly assay it for magnetite iron ore and securely store it in
Port Hardy
, as no
permanent record or drill core remains from previous programs.
Adam Travis
, Coast Copper's CEO commented,
"We are very pleased to report our first batch of
assay results from our first drill program at the Empire Mine Property within one month of
completing the program. This drilling has confirmed, infilled and extended copper, gold and
magnetite mineralization with silver and cobalt credits around the historical Merry Widow past
producing iron ore open pit mine. These drill results have returned significant copper-gold
intercepts some which could have been longer as many holes terminated in mineralization before
ending in underground workings. We are also documenting and assaying magnetite intervals
which could add to the potential value of the project. We look forward to receiving more assay
results from the Raven and North Notch Zones located approximately
200 m
north of the Merry
Widow Pit and from two drillholes completed at the end of the program approximately 1.2
kilometers to the east. We look forward to displaying our drillcore at the AMEBC Roundup
February 3
rd
and 4
th
, 2022 in
Vancouver, B.C.
"
Coast Copper will continue to update its geological interpretation and modelling and will report
additional assay results once received. Photos of select drill core will be available on the Coast
Copper website under the
Empire Mine Property
tab.
Table 1: 2021 Empire Drill Program Significant* Merry Widow Drill Results
Hole ID
From
(m)
To
(m)
Interval**
(m)
Au
(g/t)
Cu
(%)
Silver ("Ag")
(g/t)
Cobalt ("Co")
(%)
AuEq***
(g/t)
CuEq****
(%)
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
(end of hole)
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
MW21-013
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
including
74.54
76.11
1.57
5.64
0.08
0.8
0.002
5.80
3.53
and
132.00
133.20
1.20
4.40
2.19
32.9
0.011
8.54
5.19
MW21-001: abandoned after 9.0 m, MW21-002, 03, 05, 06, 07, 13 and 14: terminated in underground workings, * Significant defined as Gold Equivalent x Metres > 7 or Copper
Equivalent x Metres > 7, **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).
Table 2: 2021 Empire Drill Program Significant*
Magnetite Iron Drill Core Assay Results
Table 2 cont.: 2021 Empire Drill Program Significant*
Magnetite Iron Drill Core Assay Results
Hole ID
From
(m)
To
(m)
Interval **
(m)
Fe
(%)
Hole ID
From
(m)
To
(m)
Interval **
(m)
Fe
(%)
MW21-001
1.70
9.00
7.30
35.2
and
82.55
83.88
1.33
53.6
including
1.70
3.00
1.30
50.4
and
86.5
88.41
1.91
58.0
including
7.21
8.41
1.20
55
and
92.1
93.17
1.07
63.2
MW21-002
2.25
4.63
2.38
49.5
and
94.32
95.08
0.76
52.8
and
14.39
16.59
2.20
51.7
MW21-005
2.50
3.92
1.42
54.3
and
25.46
26.85
1.39
56.4
and
6.44
8.28
1.84
44.7
and
32.12
34.38
2.26
38.5
and
10.66
12.83
2.17
41.6
and
41.03
44.98
3.95
48.1
and
24.16
25.65
1.49
64.3
and
46.72
48.75
2.03
55.3
and
45.67
47.72
2.05
51.8
and
50.92
54.00
3.08
35.3
MW21-008
28.06
34.25
6.19
45.2
MW21-003
2.350
4.97
2.62
55.3
and
36.25
37.25
1.00
55.6
and
13.62
15.1
1.48
45.3
MW21-009
43.78
45.89
2.11
48.6
and
34.70
35.28
0.58
40.4
MW21-013
19.40
22.4
3.00
53.6
and
35.93
36.76
0.83
43.9
and
37.07
38.51
1.44
40.2
MW21-004
2.20
4.25
2.05
49.8
and
45.00
48.76
3.76
59.3
and
6.19
7.32
1.13
49.9
and
63.39
64.25
0.86
46.2
and
40.17
43.04
2.87
40.2
and
109.71
115.76
6.05
47.4
and
46.63
58.32
11.69
46.4
and
122.48
125.1
2.62
48.2
and
59.30
60.57
1.27
59.1
and
134.15
146
11.85
52.6
and
62.50
63.94
1.44
54.3
MW21-014
125.25
143.2
17.95
49.9
* Significant defined as Iron results > 35%.
**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.
Table 3: Drill Hole Locations, Azimuth and Dip
Hole ID
Easting
Northing
Elevation m
Total Length (m)
Azimuth
Dip
Size
MW21-001
624270
5579670
677.000
9.00
280
-55
NQ
MW21-002
624295
5579700
687.640
55.20
275
-55
NQ
MW21-003
624295
5579700
687.000
52.95
275
-75
NQ
MW21-004
624295
5579700
687.000
129.00
292
-45
NQ
MW21-005
624295
5579700
674.874
66.27
257
-45
NQ
MW21-006
624295
5579700
674.489
49.70
259
-62
NQ
MW21-007
624296
5579700
674.710
100.00
249
-88
NQ
MW21-008
624298
5579738
701.326
97.00
292
-49
NQ
MW21-009
624331
5579755
700.781
129.00
289
-44
NQ
MW21-010
624340
5579794
700.614
150.00
293
-50
NQ
MW21-011
624293
5579771
712.988
113.00
269
-44
NQ
MW21-012
624266
5579784
720.739
141.00
271
-45
NQ
MW21-013
624267
5579783
720.781
150.00
190
-55
NQ
MW21-014
624267
5579782
720.793
146.00
190
-64
NQ
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 drillcore 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.
Iron ore analysis was determined by borate fusion and XRF finish.
Qualified Persons
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, Sandy 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
Cautionary Notes Related to this News Release and/or maps
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).
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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%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 12:00e 25-JAN-22