Coast Copper Provides Exploration Update on Empire Mine Property and Recognition of Regional Significance to Mineralization TSX. V: COCO
Coast Copper Provides Exploration Update on
Empire Mine Property and Recognition of
Regional Significance to Mineralization
TSX. V: COCO
VANCOUVER, BC
,
Aug. 15, 2022
/CNW/ -
Coast Copper Corp. ("Coast Copper" or the
"Company";
(TSXV
:
COCO) is pleased to report the results of its 10 core holes (1,483.7 meters
("
m
")) drilled in the spring of 2022 on the optioned Empire Mine property (the "
Property
"), the
completion of an underground survey of the Kingfisher iron ore (magnetite) mine that was in
operation from 1961 to 1967 and the completion of an independent review of the Property by Dr.
James Oliver
, P. Geo.
COCO NR2022-10 Figure 1 (CNW Group/Coast Copper Corp.)
Adam Travis
, Coast Copper CEO comments,
"The 2022 drilling and underground survey have
extended the known strike length of the north-northwest trending Raven Bluff Zone to over 150
metres and have made a new discovery in the Lower Marten area. More importantly, a recent
independent Property review by Dr.
James Oliver
, based on field and drillhole observations, has
identified a previously unknown regional thrust fault that may have acted as a conduit for
mineralizing fluids over 1.0 km of strike length between the Marten Zone and the Raven Bluff area.
Observations of regional geological mapping also indicate that this trusted contact may occur for
greater than 2.5 km strike across the Property,
outlining the potential for further significant
mineralization targets
.
The recognition of the major controls to mineralization is a very important
milestone in understanding the exploration potential at Empire."
Spring 2022 Diamond Drilling
In the spring of 2022, Coast Copper completed 5 core drillholes in the Raven Bluff area, 2 drillholes
in the Raven Pit area, 2 drillholes in the Marten Zone and 1 in the West Pipe Dike area. Please see
Figure 1 for the drillhole locations and Table 1 for the significant results table.
Table 1: 2022 Empire Mine Drilling Significant* Results
Zone
Hole Id
From (m)
To (m)
Interval (m)**
Au (g/t)
Cu (%)
Ag (g/t)
Co (%)
AuEq (g/t)***
CuEq (%)***
Raven Bluff
MW22-20
118.22
125.27
7.05
0.55
0.31
3.7
0.016
1.15
0.86
including
122.73
124.07
1.34
1.59
0.79
14.3
0.030
3.06
2.30
MW22-21
21.00
24.00
3.00
1.90
0.03
0.7
0.029
2.20
1.65
and
80.04
80.79
0.75
1.17
6.47
50.0
0.032
10.64
7.98
MW22-23
211.04
212.34
1.30
4.23
0.18
2.5
0.001
4.51
3.38
and
227.00
238.60 (EOH)
11.60
0.08
0.17
1.5
0.003
0.35
0.26
West Pipe Dike
MW22-27
6.00
24.00
18.00
0.24
0.28
1.2
0.006
0.68
0.51
including
18.00
21.00
3.00
0.19
1.00
2.8
0.017
1.70
1.28
Lower Marten
MW22-28
89.18
98.11
8.93
0.69
0.17
2.4
0.003
0.97
0.73
including
97.70
98.11
0.41
9.05
1.75
19.7
0.022
11.80
8.85
* Significant is defined as >4 g/t AuEq*m and/or >4 % CuEq*m[AT1]. ** 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 $20.00/oz, Copper $3.40/lb and
Cobalt $22/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 1.332) + (Ag
g/t x $0.011) + (Co % x $8.621). The CuEq formula used for calculations is: CuEq % = Cu % + (Au g/t x $0.751) + (Ag g/t x $0.009) + (Co % x $6.471). Drillhole location, azimuth and
dip are provide on Table 3.
The Raven Bluff gold-copper-cobalt-magnetite zone, defined by drilling and underground
observations and sampling, is a north-northwesterly trending extensional zone that coincides with
andesitic dike swarms which was drill tested in 2022 by 5 drillholes (MW22-20 to MW22-23 and
MW22-26). The
Raven Bluff Zone
has now been extended to a strike length of
150 m
with a
vertical depth of
250 m
below surface. This zone continues to be open in all directions. Higher grade
intervals observed in drilling are associated with the intersection of extensional faults that chiefly
occur along east-northeast and north-northwest orientations off the QT. Within the Merry Widow Pit
area, stronger gold-copper-silver mineralization is noted in the footwall of the QT as mentioned
above. To date, this thrust fault has not been drill tested in the Raven Bluff area, except for drillhole
MW21-16 which ended in the thrust with 0.55 grams per tonne ("
g/t
") gold ("
Au
") and 1.06% copper
("
Cu
") over
12.04 m
. Future drilling in the Raven Bluff area will incorporate the new model type to
target higher grade zones at the intersection of these extensional fault and thrust zones.
The
Marten showing
is a shallow, west dipping massive sulphide manto and was tested with two
core drill holes. Drillhole MW 22-28 was drilled at depth to the west and returned 0.69 g/t Au and
0.17% Cu over
8.93 m
including 9.05 g/t Au and 1.75% Cu over
0.41 m
. This drillhole is proof of
concept of the mineralizing role of high angle structures and provides further evidence of a previously
unrecognized QT continuing southward from the Merry Widow Pit. Drillhole MW22-29 was drilled
approximately
30 m
to the south of MW22-28 but failed to reach target depth due to technical
difficulties. Further drilling is proposed in the Lower Marten area and up to
750 m
south toward the
Bluebird area along the thrusted contact, in areas of previous surface showing and Induced
Polarization anomalies.
The
West Pipe Dike
is a large magnetite dominant feature located at surface just east of the
entrance to the Merry Widow Pit that was noted in historical records from the 1960's, but
overlooked during exploration drill programs in the 1990's and early 2000's. The intent of drillhole
MW22-26 was to prove the continuity of this magnetite anomaly in the West Pipe Dike. The West
Pipe Dike was intersected but not as fractured and mineralized as seen from underground, which
could be due to the proximity of the thrust and the extensional faults. More work is required to better
understand the West Pipe Dike.
Kingfisher Underground Mine Assessment
In
April 2022
, Coast Copper engaged both the McElhanney Group Ltd. and Procon Mining &
Tunnelling Ltd. to complete a survey of the Kingfisher underground mine to test the viability of it
being revitalized. The survey noted that ground conditions and airflow were generally quite good
especially for workings that are greater than 50 years old. During this survey, Coast Copper
personnel were also able to make geological observations and complete some chip sampling. A total
of 33 samples were taken and submitted to MSA Labs in
Langley, British Columbia
. Highlights of
the samples are included in Table 2.
Table 2: Kingfisher Underground Highlighted Chip Samples*
Sample Number
Location (m) from Kingfisher
Adit Portal
Au (g/t)
Cu (%)
Ag (g/t)
Co (%)
AuEq (g/t)
CuEq (%)
C0099903
584
0.40
0.97
11.1
0.011
1.91
1.43
C0099912
457
0.46
1.52
12.6
0.009
2.71
2.03
C0099922
362
3.37
0.06
1.9
0.009
3.55
2.66
C0099923
316
1.22
<0.01
0.2
>1.000
9.84
7.39
C0099925
311
0.91
0.01
0.1
0.033
1.21
0.91
C0099931
35
0.86
2.63
5.9
0.004
4.46
3.34
*Chip samples were taken across 0.5m intervals
The underground surveying indicates that the main Kingfisher level is up to
20 m
lower in elevation
then previously surveyed, which explains why several of the 2021 drillholes unexpectantly
encountered underground workings.
Chip sampling and geological observations (see Figure 1) noted the southerly continuation of the
structures and dikes from the Raven Bluff Zone, massive magnetite with chalcopyrite clots in the
most southerly end of the workings (and outside of the historical resource) are a reminder that
underground workings and open stopes were targeting the massive magnetite zones and not the
copper and gold sulphide zones, which were avoided as they could contaminate the magnetite
concentrate. Previous sampling focused on the massive magnetite and massive sulphide zones, but
our sampling has indicated that gold and cobalt values can also be returned from areas with
relatively modest sulphide zones associated with structures. Underground samples from the
Company's work in the main trend between the Kingfisher and Merry Widow pits returned individual
samples up to 3.37 g/t Au, 0.97% Cu and greater than 1% cobalt. Interestingly, at approximately
35
m
from the portal (adit entrance) was a previously unmapped zone of mineralization associated with
dikes within the surrounding Quatsino Limestone and sample C0099931 returned 0.85 g/t Au and
2.62% Cu.
In
May 2022
, the Company installed a permanent, secured gate at the Kingfisher portal to restrict
unauthorized access to the historical underground mine workings. Several safety berms were also
installed to impede vehicular access to the Merry Widow and Kingfisher open pit areas.
Independent Review
In
May 2022
, Coast Copper engaged Dr.
James Oliver
, P.Geo. to complete field observation and
provide an independent appraisal of mineral occurrences across the Property. Areas of interest
included the Merry Widow mine area, Battle Mountain,
Benson Lake Mine
area and several known
mineral occurrences. Dr. Oliver's observations provide excellent insight into the structural and
lithological controls on mineralization at Empire, which supplement our current knowledge base and
will be used to refine drill targets for the next phase of exploration drilling. Some key observations
from Dr. Oliver are:
Mineralization is following the planar Quatsino Thrust ("
QT
") seen in the Merry Widow deposit
area and the planar regional scale unconformities (Old Sport Horizon). Both of those surfaces
are regional-scale fluid pathways, which have a loose spatial relationship to the Merry Widow
pluton.
Within the larger planar surfaces and fluid pathways at both the QT and Old Sport Horizon,
enhancement of mineralized zones are associated with steeper dipping faults and the contacts
of discordant dikes coming off the QT and Old Sport Horizon.
If both the QT and the Old Sport Horizon represent potential mineralizing fluid pathways, then
the intersection of those two surfaces may represent a significant exploration target.
All thrust faults dilate when they flatten, therefore it is recommended to look for flat rolls along
the strike of the QT.
Field observations and data suggest that the QT may be a regional-scale feature. Any
occurrence developed along the trace of this thrust surface should take on a heightened
significance. Enhanced property-scale magnetic or chargeability trends along the strike of the
QT will also have greater exploration significance.
Table 3: Drillhole Locations, Azimuth, Dip
Hole ID
Easting
Northing
Elevation (m)
Total Length (m)
Azimuth
Dip
Size
MW22-20
624339.6
5579908
718.64
144
78
-45
NQ
MW22-21
624345.7
5579919
719.4
99
76
-44
NQ
MW22-22
624570.2
5579901
692.65
240
261
-44
NQ
MW22-23
624606.5
5579938
685.9
238.6
260
-43
NQ
MW22-24
624315.7
5579877
718.7
134.6
284
-55
NQ
MW22-25
624310.5
5579924
716.7
81
285
-54
NQ
MW22-26
624374.8
5579863
717
138
78
-44
NQ
MW22-27
624409
5579769
699
119
286
-59
NQ
MW22-28
624355
5579539
743.94
177
265
-44
NQ
MW22-29
624379
5579493
746
112.5
276
-44
NQ
QA/QC Statement on Assay Results
The 2022 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. Quality assurance and quality control
("
QA/QC
") samples accounted for 8% of the total samples sent to the labs. Samples were sealed
on site and shipped to MSA Labs 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. MSA Labs 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 greater
than 10,000 ppm and silver assays greater than100 g/t were reanalyzed with an Ore Grade
method. The analytical results are verified with the application of industry standard 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 Knob Hill NW Property located on northern Vancouver Island and its Home
Brew and Shovelnose South 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
NR22-10
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:
For further information, please contact: Adam Travis, CEO, Coast Copper
Corp.,409 Granville Street, Suite 904, Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E:
CO: Coast Copper Corp.
CNW 08:05e 15-AUG-22