Canada One Submits Permit to Drill at 100% Owned Copper Dome Project, Princeton, British Columbia
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CANADA ONE MINING CORP.
#250 – 750 West Pender St.
Vancouver, British Columbia, V6C 2T7
CANADA ONE SUBMITS PERMIT TO DRILL AT 100% OWNED COPPER DOME
PROJECT, PRINCETON, BRITISH COLUMBIA
Vancouver, B.C., June 1 5, 2023 - Canada One Mining Corp . (“ Canada One ” or the
“Company”) (TSXV: CONE) is pleased to announce a planned initial diamond drill program
of up to 2,500 metres once drill permit ting is approved at its 100% owned Copper Dome
Project (the “Project”, “Property” or “Copper Dome”).
Project Overview
The Property located 18 km south of Princeton, British Columbia is contiguous to Copper
Mountain Mining Corporation’s (TSXV: CMMC) currently producing Copper Mountain Mine,
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.
The Company is currently compiling past exploration data and has init iated fieldwork in
anticipation of a potential fall drill program.
Drill Permitting Details
A comprehensive drill permit has been submitted to the BC Ministry of Energy, Mines and
Low Carbon Innovation (the “ Ministry”), which includes allowance for geochemical and
geophysical surveys in addition to diamond drilling.
Permitting has become an important part of exploration planning particularly in regard to
environment, social and governance (ESG) efforts which require time and consultation with
numerous groups, primarily First Nation s. Consultation with First nations have now been
initiated. The Company anticipates a first review of the drill permit application by the Ministry
to be completed by September of this year with the potential of a granted permit in time for
a fall drilling program.
Drill Target Details
The Property shares similar geology, and a similar geophysical and geochemical footprint
to the Copper Mountain Mine. Drilling will focus on areas identified through geophysics that
have shown large conductivity anomalies immediately south of and bordering the magnetic
high of the Early Jurassic aged Lost Horse Intrusion. The Nicola Group rocks in this area
are extensively mineralized over a large ar ea and are anomalous in copper and gold .
Historical drilling in the area by the Company has returned positive results which will help
the Company review and define drill targets for 2023.
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Following this summer’s fieldwork, Canada One will turn its attention to defining the best drill
targets for this first campaign with the intent of validating the work that has been done to
date and outlining areas of copper mineralization.
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
• Potential for palladium (Pd), platinum (Pt) and gold (Au) exists within the western
portion of 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) s urveyed 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
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 crushing, 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 that 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.
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Qualified Person
The technical information contained in this news release has been reviewed 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
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