Canada One Commences Phase TWO Exploration Field Work at 100% Owned Copper Dome Project, Princeton, British Columbia
#250 – 750 West Pender St.
Vancouver, British Columbia, V6C 2T7
CANADA ONE COMMENCES PHASE TWO EXPLORATION FIELD WORK AT 100%
OWNED COPPER DOME PROJECT, PRINCETON, BRITISH COLUMBIA
Vancouver, B.C., October 04, 2023 - Canada One Mining Corp . (“Canada One” or the
“Company”) (TSXV: CONE) (OTC: COMCF) (FSE: AU31) is pleased to announce it has
commenced phase two exploration field work at its 100% owned Copper Dome Project (the
“Project”, “ Property” or “ Copper Dome”) located contiguous to the south of Hudbay
Minerals’ producing Copper Mountain Mine, Princeton, British Columbia.
Phase Two Program
The phase two field work program will consist of additional Mobile Metal Ion (MMI)
geochemical surveying, geochemical sampling, mapping and backpack drilling. The field
crew will focus its exploration on additional new zones which were not explored during phase
one.
Highlights
Re-sampling of previous known historical showings and extend sampling of zones
from the phase one MMI geochemical program (see below, “About MMI Technology”)
Extend lines eastward from the Friday Creek Zone MMI survey to encompass known
historical copper anomalies
Perform rock sampling on the Friday Creek Zone where high grades of copper, gold
and palladium have been historically obtained
All rock samples will be analyzed by four-acid digestion (previous historical assays
were analyzed by two-acid digestion) - this may provide better grades than the
historical sampling
Core logging and mapping of the historical drill core from the Friday Creek Zone
The Reco Zone (unexplored in phase one) will be prospected and sampled for gold,
copper and palladium
The Johnson Zone (unexplored in phase one) will be prospected, sampled as well as
backpack hole drilled to a depth of 8 feet on a shear zone
Commented [FS1]: True, pretty sure you need a permit for
that. I would do it but not mention it
The Enterprise Zone (unexplored in phase one) will be rock sampled for prospective
copper, gold and palladium
Infill MMI lines are planned at the Friday Creek and Boundary Road Zones to greater
define the phase one MMI soil sampling survey
The Company is currently analyzing data from the completed phase one program
on the Friday Creek, Haul Road and Boundary Road Zones
Exploration History
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
The Combination Creek Zone located within the northeast corner of the Project shows
stockwork veining associated with hornfels within 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 may not repeat similar
results.
Project Highlights
The Project is contiguous to Hudbay Minerals Inc.’s (TSX: HBM) currently producing
Copper Mountain Mine, which hosts a Proven and Probable Mineral Reserve of 702
Mt of 0.24% Cu (hudbayminerals.com)
Copper Dome’s northern boundary lies 1.5km from the mine’s deposits
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
Potential for palladium (Pd), platinum (Pt) and gold (Au) exists within the western
portion of the Project
Multiple zones of mineralization have been discovered on the Project 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, electro-magnetics (EM)
surveyed over half of the Project area, 2,253 soil and 378 rock samples collected,
over 8,900m of diamond drilling and over 1km of trenching
Non-Brokered Private Placement
The Company also announces that it continues to move forward with its non-brokered
private placement (the “ Placement”) of units (each, a “ Unit”) at a price of $0.10 per
Unit. Each Unit consists of one common share of the Company and one-half of one common
share purchase warrant allowing holders to purchase an additional common share at a price
of $0.15 for a period of thirty-six months.
The Company completed an initial tranche of the Placement for gross proceeds of
$1,096,233 on September 5, 2023, and expects to complete a further tranche to bring total
proceeds from the Placement to $1,800,000. Completion of a further tranche remains
subject to approval of the TSX Venture Exchange. For further information concerning the
Placement, readers are encouraged to review the news release issued by the Company on
September 8, 2023.
About MMI Technology
Mobile Metal Ion (MMI) geochemistry is a proven advanced geochemical exploration
technique known to find mineral deposits.
It is especially well suited for deeply buried mineral deposits. MMI measures metal ions that
travel upward from mineralization to unconsolidated surface materials such soil, till, sand
and so on. These mobile metal ions are released from mineralized material and travel
upward toward the surface. Using careful soil sampling strategies, sophisticated chemical
ligands and ultra-sensitive instrumentation, enabling the measurement of these ions. After
interpretation, MMI data can indicate anomalous areas.
There are many benefits to using MMI technology for soil geochemistry:
Few false anomalies
Focused, sharp anomalies
Excellent repeatability
Definition of metal zones and associations
Detection of deeply buried mineralization
Low background values (low noise)
Low limits of detection
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 website at
(www.canadaonemining.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 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
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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 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
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update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
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