Coast Copper Extends Gold in Soil Anomaly Around B3 Showing and Identifies Emergence of a New Middle-Mineralized Trend at Empire Mine TSX. V: COCO
Coast Copper Extends Gold in Soil Anomaly
Around B3 Showing and Identifies Emergence
of a New Middle-Mineralized Trend at Empire
Mine
TSX. V: COCO
VANCOUVER, BC
,
Nov. 21, 2023
/CNW/ -
Coast Copper Corp. ("Coast Copper"
or the
"Company";
(TSXV: COCO) is pleased to provide results from a
September 2023
field program
following up on several geophysical and gold in soil anomalies at its optioned Empire Mine property
("
Empire Mine
" or the "
Property
") on northern Vancouver Island,
British Columbia
("
BC
"). This
exploration work included expanding the gold ("
Au
"), copper ("
Cu
") and tellurium ("
Te
") in soil and
rock anomaly to over a 250 meter ("
m
") x
500 m
area around the newly discovered B3 showing (see
August 21, 2023
news release) which reported several chip samples averaging 31.60 grams per
tonne ("
g/t
") Au, 15.97 g/t Te, and 0.11% cobalt ("
Co
") in sample MWR2023-009 (
See Figures
1 &
2). Additional work included initial prospecting and sampling in an underexplored 1-kilometer ("
km
") x
2 km area between the Upper Merry Widow Trend ("
Upper Trend
") and Lower Benson Lake Mine
Trend ("
Lower Trend
"), known as the Middle Trend. This area was highlighted during geological
compilation and fits with the model of probable multiple stacked thrust systems, which indicate
potential for mineralization in this area. Preliminary investigations show promising initial surface
results. A total of 76 soil and 25 rock samples were collected during this field program from targeted
areas across the Upper and Middle Trend zones on the Property (see Figure 1).
Coast Copper NR23-12 Figure 1 (CNW Group/Coast Copper Corp.)
Adam Travis
, Coast Copper CEO comments:
"With ongoing exploration we continue to expand our
understanding, and size potential of mineral occurrences at Empire Mine. We enlarged our
coverage around our new B3 discovery, approximately
500 m
south of the Merry Widow Pit, and
as a result the gold, copper and tellurium anomaly is at least
250 m
in strike length. Since the
discovery of B3 earlier this year, we have taken a total of 21 soil samples in the area that have
returned values greater than 80 parts per billion ("
ppb
") gold, with sample MWS2023-018 returning
3,931 ppb Au. This anomaly is open to the north below the historical waste dumps. To the south, a
newly discovered rock float sample returned 9.60 g/t Au suggesting a potential link of the B3 area
to the Bluebird 1 area 250 metres further to the south where four rock samples have returned
greater than 2 g/t Au. We also completed initial prospecting and sampling in the relatively
underexplored Middle Trend area between the Upper Trend and Lower Trend returning some
highly anomalous copper and gold in rock and soil samples (see Figure 2). This reinforces our
model of multiple stacked thrusts, or horizons, that can host mineralization at many levels through
the 1 km thick limestone package, and that new discoveries can continue to be made in an old
camp."
B3 Zone (
250 m
x
500 m
area with soil samples up to 3,931 ppb Au and chip samples up to
51.60 g/t Au- announced
August 21, 2023
)
Coast Copper's technical team collected 42 soil samples and 10 rock samples in the area
surrounding the B3 discovery, specifically between the Bluebird 1, Marten and Snowline mineral
occurrences. Notable assay results from sampling include outcrop samples up to 11.1 g/t Au and up
to 191.50 g/t Te above the Snowline showing, a 9.60 g/t Au rock float sample and 368.00 ppb Au in
soil samples between Bluebird 1 and Bluebird 2 and up to 2,100.00 ppb Au in soil samples down
slope of Snowline (see Figure 2 and Table 1 and 2). This work has extended the soil anomaly to an
area roughly
250 m
in width and
500 m
in length and shows good potential to link the Bluebird 1,
Bluebird 2 and Snowline showings with our newly discovered B3 showing.
Table 1: Geochemical Soil Sample Results
Sample ID
Location
Au (ppb)
Cu (parts per million ("ppm"))
MWS2023-211
Bluebird 1 – Bluebird 2
368.00
401.00
MWS2023-304
Snowline
2,100.00
521.00
MWS2023-319
Middle Trend
1,210.00
9,955.00
Table 2: Geochemical Rock Sample Results
Sample ID
Location
Sample Type
Au (g/t)
Te (g/t)
Cu (%)
Ag (g/t)
MWR2023-200
Bluebird 1 – Bluebird 2
Rock - Float
9.60
5.84
0.27
10.16
MWR2023-302
Snowline – West Extension
Rock - Chip
11.09
9.01
2.51
98.18
MWR2023-306
Snowline – West Extension
Rock – 3 m Chip Sample*
4.44
191.51
0.19
6.92
MWR2023-204
Middle Trend
Rock - Chip
0.90
0.80
1.90
33.89
MWR2023-208
Middle Trend
Rock
1.25
0.96
1.03
3.04
*Chip samples were taken in a continuous horizontal line across the outcrop face
Emerging Middle Trend (1 km x 2 km area between Upper Trend and Lower Trend)
Fieldwork by Dr.
Jim Oliver
in 2022 identified the presence and importance of regional thrust
systems in the Merry Widow Pit and along the Upper Trend (see
January 18, 2023
news release). A
thorough review of the recent drillhole data and relevant historical work led to a geological model of
multiple stacked thrust faults, or thrust panels, occurring between the Upper Trend and the Lower
Trend potentially linking up mineralization between these deposit areas. The importance of cross
structures within these favorable trends has also been recognized as a significant control on
mineralization across the Property.
This concept was further validated when examining historical drill-hole logs from 2007 located above
the Benson Lake Mine which indicated mineralized intervals occurring hundreds of meters above the
Benson Lake Mine in areas that should have been barren limestone. As such, initial prospecting and
sampling was completed with the expectation that mineralization could occur within this 1 km x 2 km
area, that had previously seen no systematic work.
Coast Copper's preliminary work in this area that was previously not thought to be prospective,
shows promising copper and gold values from both rock and soil samples. A total of 34 rock 15 soil
samples were taken across the emerging Middle Trend zone. Rock samples returned assay values
up to 1.90% Cu and up to 1.25 g/t Au, with one soil sample returning 9,995.00 ppm Cu and 1,210
ppb Au (see Tables 1 & 2 and Figure 2). These encouraging results indicate that further work is
warranted in this area.
Quality Assurance/Quality Control ("QA/QC") Procedures
Soil samples were taken at
25 m
spacings when possible and by up to
50 m
spacings in areas of
interest. All samples were taken from the B horizon soil profile.
Sampling completed on the project in 2023 was supervised by on–site Coast Copper personnel and
sub-contractors who collected and tracked samples and implemented a full QA/QC program using
blanks, standards and duplicates to monitor analytical accuracy and precision. The samples were
sealed on site and shipped to MSA Labs in
Langley BC
for analysis. MSA Labs' quality control
system complies with global certifications for Quality ISO9001:2008. Soil samples were dried and
screened to 80 mesh and then analyzed in 20g samples with multi-element ICP-MS Aqua Regia
digestion (IMS-111). Rock samples were dried and crushed to 70% passing 2mm mesh and split to
250g samples which were pulverized to 85% passing 75μm and then analyzed by Aqua Regia, ICP-
AES/MS (IMS-131). Copper assays greater than 10,000 ppm were completed with ICF-6Cu, 4acid,
ICP-AES ore grade analysis.
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 ("
QP
") within the context of the Canadian Securities Administrators' National Instrument
("
NI
") 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 Knob Hill NW property located on northern Vancouver Island, its Home Brew
property in central 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 metals opportunities
in western
North America
.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis
, Chief Executive Officer and Director
NR23-12
Notes Related to this news release and/or maps
1
.
Historical information, maps or figures contained in this release regarding Coast Copper's
Empire Mine Property 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.
2
.
The 2023 Mineral Resource Estimate was prepared by Sue Bird, P
.
Eng
., an independent
Qualified Person. The effective date of the mineral resource estimate is
April 26, 2023
. Mineral
Resources are reported using the 2014
CIM
Definition Standards and were estimated in
accordance with the
CIM
2019 Best Practices Guidelines, as required by NI43-101. Mineral
Resources that are not Mineral Reserves do not have demonstrated economic viability. There is
no certainty that any Mineral Resources will be converted into Mineral Reserves. These Mineral
Resource estimates include Inferred Mineral Resources that are considered too speculative
geologically to have economic considerations applied to them that would enable them to be
categorized as Mineral Reserves. It is reasonably expected that the majority of Inferred Mineral
Resources could be upgraded to Measured or Indicated Mineral Resource with continued
exploration. The Mineral Resource Estimate has been confined by a "reasonable prospects of
eventual economic extraction" pit using the following assumptions, Prices are based on 3 year
trailing averages, recoveries are based on preliminary metallurgical studies, and smelter terms
and costs are based on
comparables
a. Au price of
USD$1,800
/oz and Cu price of
US$ 3.50
/lb at an exchange rate of
0.75 US$
per CAD$;
b. 77% Cu metallurgical recovery, 29% Cu concentrate grade, 100$USD/tonne concentrate
transport, 100 $USD/tonne concentrate treatment, 1% unit concentrate grade deduction, and
0.1 $USD/lb Cu refining cost
c. 60% Au metallurgical recovery, 99% payable Au, and
8 USD$
/oz Au refining cost.
d. Mining costs of
CAD$15
/tonne;
e. Processing + G/A costs of
CAD$25
/tonne;
f. Pit slopes of 50 degrees;
The resulting NSR equation is: NSR (CDN$) = (Cu%/100) x 3.96 x 2204.6 x 0.77 + Au x 76.05 x
0.6. The bulk density of the deposit is interpolated from sample data. The average value
specific gravity used for the Mineral Resource Estimate is 3.45 at the base case cutoff.
Copper and Gold Equivalents were calculated as: CuEq=NSR/67.22 and AuEq=NSR/45.63
3
.
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
4
.
Benson Lake Mine historical reserves recorded by Cominco
Resources (1972) report a non NI
43-101 resource of 454,000 tonnes grading 0.59
g
/
t
Au and 1.3% Cu and an Inferred resource
of 2.7 million tonnes of 1.7% Cu with no Au grade calculated.
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.
Coast Copper NR23-12 Figure 2 (CNW Group/Coast Copper Corp.)
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]
CO: Coast Copper Corp.
CNW 08:05e 21-NOV-23