Canada One Commences Field Work Program at 100% Owned Copper Dome Project, Princeton, British Columbia
CANADA ONE MINING CORP.
#250 – 750 West Pender St.
Vancouver, British Columbia, V6C 2T7
CANADA ONE COMMENCES FIELD WORK PROGRAM AT 100% OWNED COPPER
DOME PROJECT, PRINCETON, BRITISH COLUMBIA
Vancouver, B.C., June 07 , 2023 - Canada One Mining Corp . (“ Canada One ” or the
“Company”) (TSXV: CONE) is pleased to announce it has commenced exploration field
work at its 100% owned Copper Dome Project (the “ Project”, “Property” or “ Copper
Dome”) located south of Princeton, British Columbia.
The Project is contiguous to the south of Copper Mountain Mining Corporation’s (TSXV:
CMMC) currently producing Copper Mountain Mine (Figure 1), which hosts a Proven and
Probable Mineral Reserve of 702 Mt of 0.24% C u (cumtn.com). Copper Dome’s northern
boundary lies 1.5km from the mine’s deposits.
Regionally, it is located 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, Bren da, Craigmont, Highland Valley, and New Afton mines (Figure 2). Canada
One’s exploration work will include geochemistry, geophysics, and a drill program.
Past Exploration Highlights Include:
• Airborne magnetics flown over the entire Project
• 51km of induced polarization (IP) surveyed over areas of interest
• Electro-magnetics surveyed over half of the Project area
• 2,253 soil and 378 rock samples collected
• Over 8900m of diamond drilling
• The palladium (Pd), platinum (Pt) and gold (Au) potential on the Property has been
under-explored
• Multiple zones of mineralization have been discovered on the Property
• Majority of the Pro perty, predominantly the southern portion, has had little to no
exploration
Exploration Field Work
Snow has abated and the fieldwork season can now start in full earnest at the Copper Dome.
The Project has a long history of exploration dating back 50 years. Several drilling programs
and geophysical surveys have been cond ucted over the years and are currently being
compiled into a digital Leapfrog model (see news release dated, June 1, 2023) . The field
work program outline is larger than past programs conducted by previous operators and
therefore some gaps in the survey data exist. The objective of the survey work is to close
those existing gaps.
Figure 1. Location Map : Proximity of Copper
Dome to Copper Mountain Mine
Figure 2. Location Map: Lower Quesnel Trough
Porphyry Belt
Exploration Field Work Details
Mobile Metal Ion (MMI)
Currently, the Company is completing a MMI geochemistry survey. The survey is intended
to overlap with the older geochemical and 2010 Titan IP geophysical grid. This MMI work
will be used to confirm the outline of the Induced Polarization (IP) grid scheduled for later
this summer.
MMI is a recently developed geochemical technique that measure s in parts per billion the
trapped metal ions in the upper soil horizon. One of the advantages to this type of survey is
the ability to detect a mineralized body beneath a body of unmineralized, transported surficial
cover, like glacial till.
Titan Survey
The Titan Survey is a distributed array-based geophysical system that collects two separate
geophysical surveys; Direct Current Induced Polarization (DCIP) as well as Magneto-telluric
(MT). DCIP provides resistivity and chargeability sections, and the MT provides a deepe r
resistivity section. The technology behind TITAN allows the system to sample data very
rapidly and measure very small signals. The DCIP data is typically and routinely collected to
depths of 500-750m and the MT data is collected to depths of 1500m and gr eater allowing
for survey detection at much deeper levels than more traditional surveys.
Phased Drill Program
This summer work will be used to refine drill targets for a first phase diamond drill program.
While surface targets for drilling have already been identified the Company believes merging
the 2010 and 2023 IP data with the magnetics and MMI geochemistry will further refine these
targets, outlining more specifically, porphyry mineralization for testing.
Current Financing
The Company announced that it is undertaking, a Listed Issuer Financing Exemption (LIFE)
Offering of up to 3,000,000 Units, and a non-brokered private placement of up to 15,000,000
Units on the same terms (the “Private Placement”), for gross proceeds of up to $1,800,000
(see news release dated April 25, 2023). As disclosed in the Offering Document, the
Company intends to use the net proceeds from the LIFE Offering and Private Placement to
fund its exploration and development of the Company’s properties, extinguish liabilities and
payables and for general administrative and working capital expenses. The Company’s field
work program is subject to the closing of the Private Placement.
Exploration History
Friday Creek Zone
In 2007, diamond drilling was performed by the Company on the Friday Creek Zone in the
northwest corner of the Project and returned the following highlighted intercepts (AR 33852):
• DDH FC-11: 156m 0.09% Cu, including 10m of 0.7% Cu and 0.8 g/t Au
• DDH FC-12: 42.6m of 0.28% Cu, including 6m of 1.5% Cu and 0.7 g/t Au
Combination Creek Zone
The Combination Creek Zone located within the northeast corner of the Project shows
stockwork veining associated with hornfels within the volcanic and sedimentary rocks
adjacent to the Copper Mountain stock. The best mineralization in the Combination Creek
zone drilled to date is found in a 70 to 100m wide section of Nicola volcanics extending at
least 250m east west, bounded to the north by the Copper Mountain Stock and to the south
by a coarse pink feldspar porphyry syenite dyke.
Drilling by the Company in 2010, 2011 and 2012 in the Combination Creek Zone returned
the following highlighted intercepts (AR 33070, AR 33852):
• DDH PT-10-01: 50m of 0.15% Cu, including 12m 0.28%
• DDH PT-10-02: 45m of 0.17% Cu, including 10m 0.44%
• DDH PT-10-06: 19.5m of 0.71% Cu, including 6.4m 1.25%
• DDH PT-11-18: 102.7m of 0.14% Cu, including 6m 0.29%
• DDH PT-11-21: 32m of 0.21% Cu, 10m of 0.19%, 33m of 0.14%, 38m of 0.56%
• DDH PT-12-26: 20M of 0.67% Cu, including 14m of 0.86%
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 ma y not repeat similar
results.
Copper Mountain Mine
The Copper Mountain Mine, which is contiguous to the north of Copper Dome , is a
conventional open pit, truck and shovel operation. The mine has a 45,000 tonnes per day
plant that utilizes a conventional c rushing, grinding and flotation circuit to produce copper
concentrates with gold and silver credits. A new life of mine plan to expand the mill to 65,000
tonnes per day, further increases average annual production to 138 million pounds of copper
equivalent and reduces all-in costs to US$1.76 per pound of copper over the first 20 years
of a 32-year mine life. The 65,000 tonnes per day mill expansion, including the integration
of New Ingerbelle, brings Copper Mountain Mine’s after -tax NPV at an 8% discount to
US$1.245 billion ( see Life of Mine Plan Expansion Study Technical Report, Copper
Mountain Mining Corporation, Sept. 2022). Further potential exists through the upgrading of
Mineral Resources to Mineral Reserves and further exploration to continue to extend the
mine life and add value.
The Company cautions the discoveries and observations on properties in proximity to the
Company’s properties are not necessarily indicative of the presence of similar mineralization
or geology on the Company's properties.
Qualified Person
The technical information contained in this news release has been reviewed and approved
by Freeman Smith, P.Geo., a Qualified Person for the purposes of National Instrument 43 -
101.
For further information, interested parties are encouraged to visit the Company’s profile on
SEDAR (www.sedar.com) or contact the Company at [email protected].
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer
1 877 844 4661
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 sta tements 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 w ords 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 successful closing of the Offering and anticipated timing thereof and the intended use of proceeds. Actual fu ture results
may differ materially. There can be no assurance t hat 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, bo th 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 no t
assume any obligation to update the forward -looking statements of beliefs, opinions, projections, or other factors, should they c hange,
except as required by law.
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