Coast Copper Expands Red Chris, Knob Hill and Empire Mine Properties via Staking and Provides Update
Coast Copper Expands Red Chris, Knob Hill
and Empire Mine Properties via Staking and
Provides Update
VANCOUVER, BC
,
Feb. 22, 2022
/CNW/ -
Coast Copper Corp. ("Coast Copper" or the
"Company")
(TSXV: COCO) announces that it has expanded its 100% owned Red Chris, Knob Hill
NW and its optioned Empire Mine properties by staking new claims. Furthermore, the Company
would also like to provide an update regarding the remaining drill assay results from the
December
2021
drill program on the Empire Mine property. The remaining drill holes yet to be announced
include MW21-016 (partial hole), MW21-018 and MW21-019. The pending assay results were
logged, cut, and sent to the lab in late
January 2022
. Assay results are anticipated before the end of
Q1 and will be announced as soon as they have been received and validated through the Company's
stringent QAQC procedure.
COCO NR22-03 (CNW Group/Coast Copper Corp.)
Adam Travis
, Coast Copper's CEO commented,
"While awaiting assay results for our recently
completed Empire Mine property drill program, we were able to consolidate and expand three of
our properties through staking when the Mineral Titles Online system opened in January. Acquiring
these new claims through staking is a low-cost way of creating shareholder value by growing our
current property base. We look forward to getting 'boots on the ground' in these new areas this
year."
Red Chris Area Properties
Coast Copper expanded the 100% owned Gin property to include an area to the west, increasing
the property size by 726.65 hectares ("
ha
"), to a total property size of 3,787 ha. These additional
claims increase Coast Copper's land position in the area as well as its position west of the operating
Red Chris Mine
owned by Newcrest Mining Limited and Imperial Metals Corporation. See Figure 1
for the updated property tenure map location.
Empire Mine Property
Coast Copper strategically acquired an additional 206.32 ha adjacent to the Empire Mine property
on northern Vancouver Island that was previously held by other owners. The total size of the Empire
Mine property is now 19,377 ha. The new claims include the Bridge Zone minfile occurrence where
historical work noted at least three separate areas of mineralization within this area. In 2005, three
diamond drill holes (totaling 111.56 metres ("
m
")) were drilled, testing a gold-bearing shear/fault
zone along a contact zone between an intrusive gabbro into limestone. It was noted that a gold-
bearing and pyrite-rich zone was intersected in all three holes with mineralized widths over at least
5
m
, with the zone open to depth and along strike in both directions. Highlights from the 2005 drill
program include separate intersections of
1.76 m
of 1.35 grams per ton ("
g/t
") gold ("
Au
") and
0.5
m
of 14.55 g/t Au in Hole T-04 and
2.32 m
of 3.82 g/t Au and
1.53 m
of 6.11 g/t Au in Hole T-06 ² ³.
These newly acquired claims will form part of the Empire Mine property option agreement. Follow up
exploration in this area will be completed by teams in the spring.
Knob Hill NW Property
An additional 654.68 ha claim was staked adjacent to the Knob Hill NW property on northern
Vancouver Island. This new claim increases Coast Copper's property holding in the area to 4,639
ha. The Knob Hill NW property is located at the western end of a 50 kilometre ("
km
") prospective
trend for porphyry Cu-Au deposits that originates at the past producing Island Copper Mine and
passes through NorthIsle Copper & Gold Inc.'s project and onto Coast Copper's project.
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 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
.
Adjacent Properties: 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
.
Diamond Drill Report on the Teihsum River Gold Property Vancouver Island for Red Lake
Resources Inc.
Written by James W. Liard,
Greg Thomason
and Dr. K. W. Geiger,
July 2005
.
BC Assessment Report 27,80.
3
.
Historical Information: Historical information provided on this webpage regarding the Company's
projects 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. A Qualified Person has not
done sufficient work to classify any historical mineral resource estimate(s) referenced herein as
a current estimate and Coast Copper is not treating such as current mineral resource(s).
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:
Adam Travis, CEO, Coast Copper Corp, 409 Granville Street, Suite 904,
Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E: [email protected], NR22-03
CO: Coast Copper Corp.
CNW 08:05e 22-FEB-22