Canada One Acquires Property Package and Increases Prospective Ground at the Copper Dome Project, Princeton, British Columbia
Canada One Acquires Property Package and
Increases Prospective Ground at the Copper
Dome Project, Princeton, British Columbia
Vancouver, British Columbia--(Newsfile Corp. - December 12, 2023) -
Canada One Mining Corp
.
(TSXV: CONE) (OTC Pink: COMCF) (FSE: AU31) ("
Canada One
" or the "
Company
") is pleased to
announce it has entered into an agreement (the "
Agreement
"), dated December 10, 2023, pursuant to
which the Company has agreed to acquire two claim groups totalling 632 hectares from an arm's length
vendor (each, a "
Property
" and collectively, the "
Properties
"), located contiguous to the Company's
flagship Copper Dome Project ("
Copper Dome
"), Princeton, British Columbia.
Highlights
The Properties have been relatively under-explored
100% owned, no net smelter royalty (NSR) or third party commitments
Northern Property is contiguous to Copper Dome's Friday Creek Zone and 3.25km southwest of
the neighbouring Copper Mountain Mine super pit
Northern Property has similar geological setting as Friday Creek Zone
Historical drilling and sampling at the Friday Creek Zone have confirmed Copper (Cu), Gold (Au),
Platinum (Pt) and Palladium (Pd) mineralization (historical drill assay highlights in Table 1 below)
Southern Property increases land position at the recently acquired Copper Dome South (Cu and
Au potential)
Southern Property has similar geological setting as Copper Dome South
Mr. Peter Berdusco, President and CEO of Canada One commented:
"We feel very fortunate in
adding additional ground at Copper Dome, specifically at the Friday Creek Zone which has
historically proven to yield, not only gold and copper mineralization, but also platinum and palladium.
The technical team are therefore anxious to perform reconnaissance field work in 2024 on this newly
added area in hopes of uncovering its exploration potential."
Northern Property
The northern Property is located west of the Company's Friday Creek Zone which was the focus of a
2011 drill campaign and confirmed Cu and Au mineralization at depth. This area is prospective not only
for copper (Cu) and gold (Au), but also for platinum-group elements.
Table 1: Selected Assay Highlights from Anglo-Canadian Mining Corp. 2011 Drill Program at
Friday Creek Zone
Drillhole
Length (m)
Cu %
Au g/t
DDF FC-01
8
0.55
2.80
DDH FC-02
15
0.32
0.98
DDH FC-11
156
0.08
-
including
10
0.71
0.76
DDH FC-12
42.5
0.28
-
including
6
1.5
0.70
DDH FC-14
18
0.2
-
DDH FC-15
17
0.17
-
DDH FC-16
13
0.14
-
DDH FC-17
17
0.21
0.04
The historical drill assays were undertaken by the prior operator, Anglo-Canadian Mining Corp. and have
not been independently verified by the Company. The sampling was done to the standards of the time
and is considered "historical" in nature and is not NI43-101 compliant and cannot be relied upon. The
results are listed here to show why the Company is interested in this area. Future work and drilling may
not repeat similar results.
Southern Property
The southern Property is located adjacent to the east of the recently acquired Copper Dome South area.
This area has seen little historical exploration and is prospective for copper (Cu) and gold (Au).
Agreement Terms
The Agreement provides for the acquisition of the Properties for a total cash consideration of
$2,500CDN.
The Acquisition does not involve any Non-Arm's Length Parties (as defined in the policies of the
Exchange) to the Company. In connection with Acquisition, the Properties do not have any material
liabilities and the Company does not expect to assume any material obligations related to the
Properties, nor does it expect to devote the majority of its working capital or resources to the
development of the Properties. The primary focus of the Company at this time continues to remain the
planned exploration and drilling work at Copper Dome Central. As a result, the Acquisition does not
constitute a "fundamental acquisition" for the Company within the policies of the Exchange.
No finders' fees or commissions are payable in connection with the Acquisition.
Copper Dome Project Highlights
The Project lies within the lower portion of the Quesnel Trough porphyry belt, a well-established
mining district. The belt extends north from the Copper Mountain Mine, through the Elk, Brenda,
Craigmont, Highland Valley, and New Afton mines
Previous drilling has confirmed the presence of high-grade copper associated with northeast
running geological structures similar to those seen at the Copper Mountain Mine
Past exploration has identified the presence of palladium (Pd), platinum (Pt) and gold (Au)
mineralization on the Property
Multiple zones of mineralization have been discovered on the Property to date
Excellent infrastructure provides year-round access with low-cost exploration and low jurisdictional
risk
Past exploration includes, airborne magnetics flown over the entire Project, 51km of induced
polarization (IP) surveyed over areas of interest, Airborne Magnetics and electro-magnetics (EM)
surveyed over half of the Project area, 2,253 soil and 378 rock samples collected, over 8900m of
diamond drilling and over 1km of trenching
For further information, interested parties are encouraged to visit the Company's website at
www.canadaonemining.com
, or contact the Company by email at
, or by phone at
1.877.844.4661.
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer
Forward-Looking Statements
This press release includes certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable Canadian securities
legislation. All statements, other than statements of historical fact, included herein, without limitation,
statements relating to the future operating or financial performance of the Company, are forward
looking statements. Forward-looking statements are frequently, but not always, identified by words
such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar
expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur
or be achieved. Forward-looking statements in this press release relate to, among other things:
statements relating to the anticipated timing thereof and the intended use of proceeds. Actual future
results may differ materially. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in such
statements. Forward looking statements reflect the beliefs, opinions and projections on the date the
statements are made and are based upon a number of assumptions and estimates that, while
considered reasonable by the respective parties, are inherently subject to significant business,
technical, economic, and competitive uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed or implied by such forward-
looking statements and the parties have made assumptions and estimates based on or related to
many of these factors. Such factors include, without limitation: the timing, completion and delivery of
the referenced assessments and analysis. Readers should not place undue reliance on the forward-
looking statements and information contained in this news release concerning these times. Except as
required by law, the Company does not assume any obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors, should they change, except as required
by law.
TSX Venture Exchange Disclaimer
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.
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https://www.newsfilecorp.com/release/190652