Copaur Minerals Defines New Drill Targets From Geophysical Survey At Kinsley Mountain Gold Project
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Copaur Minerals Defines New Drill Targets From Geophysical Survey At
Kinsley Mountain Gold Project
News Release - Vancouver, British Columbia – August 3 , 2022: CopAur Minerals Inc.
(“CopAur” or the “Company”) (TSX-V: CPAU) (OTCQB:COPAF) is pleased to announce new
drill targets generated from the recently completed induced polarization (IP) / resistivity
geophysical surveying at the Company’s flagship Kinsley Mountain Gold Project (the “Kinsley
Mountain Project” or “Kinsley Mo untain”) in Elko County, Nevada. In total, 80 line -km of
geophysical surveys have been completed at Kinsley, over a 9 km north -south strike length,
covering an area of approximately 30 km2.
Interpretation of the survey data has identified a minimum of eight (8) untested high -priority
targets at Kinsley North. The final phase of IP/resistivity surveying announced here specifically
targeted the frontier Kinsley North Range, which contains a significant strike length of prospective,
faulted Pogonip Group and upper Notch Peak Formation carbonate rocks that are known to host
significant gold mineralization at the Long Canyon Mine 1 located 90 km north of Kinsley. The
observed chargeability and resistivity anomalies indicate potentially significant fault displacement
coincident with mapped faults, arsenic ± antimony ± gold in soil anomalies, and prospective known
gold hosting rock units.
New Drill Target Highlights (Figure 1):
• IP/resistivity survey defined 8 untested high-priority targets within 20 km2 underexplored
area north of high-grade Western Flank gold deposit (Figure 1)
• Kinsley North Range chargeability and/or resistivity anomalies:
o Are coincident with broad arsenic ± antimony ± gold in soil anomalies up to 1,000
by 500 metres in size,
o Indicate significant displacement along property-scale north to northwest-trending
fault structures analogous to the Kinsley NW fault , a critical controlling structure
of Western Flank Zone gold resources,
o Correlate with northeast to northwest -trending block faulting that exposes
prospective lower Pogonip Group and upper Notch Peak Formation geology,
known to host gold mineralization at Long Canyon1,
o Associated with mapped jasperoid alteration
Jeremy Yaseniuk, CEO, commented , “The Kinsley IP survey has already generated eight new,
high-quality drill targets in the underexplored Kinsley North area. The geophysical anomalies
show a strong correlation with soil anomalies, faults, and alteration, similar to the known Kinsley
gold resource zones, but are associated with the host ro cks for gold mineralization at Long
Canyon, which has produced over 1 million ounces of gold to date 1,2. We believe that these new
targets warrant drill testing.”
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The Pogonip Group and upper Notch Peak Formation represent significant untested greenfield
targets that are known to host gold -bearing systems elsewhere in Nevada , including at Long
Canyon1, and have not been tested to date at Kinsley. These rocks are exposed primarily in the
underexplored Kinsley North Range. The Kinsley mineral resources are hosted stratigraphically
lower, primarily within the Dunderberg Shale, Hamburg Formation, and Secret Canyon Shale
units. The new geophysical anomalies, together with mapp ed fault structures and geochemical
anomalies, provide compelling exploration targets within the stratigraphically higher Pogonip and
Notch Peak units within the Kinsley North Range.
Figure 1. North-northeast facing isometric view of Kinsley Mountain Proj ect showing the 2020-
2022 IP/resistivity survey chargeability inversions and drill target areas . Kinsley North Range
inversions featured.
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1 Not necessarily indicative of mineralization on CopAur properties.
2 Long Canyon 2021 production values derived from Barrick Annual Report 2021 filed under Barrick Gold Corporation’s issuer
profile on SEDAR (www.sedar.com); 2016 to 2020 production values derived from the Nevada Division of Minerals Major Mines
of Nevada 2016-2020 publications downloaded from the State of Nevada Commission on Mineral Resources Division of Minerals
website (https://minerals.nv.gov/Programs/Mining/Mining_Forms/)
3 Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021, with an effective date of May 5,
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2021, and prepared by Michael M. Gustin and Gary L. Simmons, and filed under New Placer Dome Gold Corp.'s issuer profile on
SEDAR (www.sedar.com).
Methodology and QA/QC
Twenty-three (23) lines totalling approximately 80 line-km were completed during the 2021-2022
Kinsley Mountain Gold Project geophysical program . The lines are spaced 150 to 1,000 metres
apart, with line lengths ranging from approximately 2.5 to 4.0 kilometres . Data were collecte d
using the Direct Current Resistivity, Induced Polarization (“DCIP”) method, on a 16-channel pole-
dipole array with a dipole size (a -spacing) of 100 metres. A GDD GRx16 receiver and GDD
5000W-2400V-20A IP Tx model Tx4 transmitter was used. Raw data were l oaded into GDD IP
Post-Process software and Geosoft Oasis Montaj software for quality control and review. The
reviewed data were used to produce pseudo section plots of apparent resistivity and apparent
chargeability and were the input for the inversion. Inversions were completed using the UBC-GIF
DCIP2D inversion codes. Each line of data was inverted independently. The resistivity and IP
inversion is a two-step process. The resistivity inversion is run first, and this model is used in the
chargeability inversion. Multiple inversions were completed for quality control.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and
approved by Kristopher J. Raffle, P.Geo. (BC) , Principal and Consultant , and Christopher W.
Livingstone, P.Geo. (BC), Senior Geologist, both of APEX Geoscience Ltd. of Edmonton, AB,
and “Qualified Persons” as defined in National Instrument 43 -101 – Standards of Disclosure for
Mineral Projects. Mr. Raffle and Mr. Livingstone have verified the data disclosed which includes
a review of the sampling, analytical and test data underlying the information and opinions
contained herein.
For more information, please contact:
CopAur Minerals Inc.
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Email: [email protected]
Max Sali, Director
Tel: +1 (604) 367-8117
Email: [email protected]
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 news release.
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Forward Looking Information
This news release includes certain statements that constitute “forward -looking information or statements”
within the meaning of applicable securities law, including without limitation, conducting exploration work
on its projects, receipt of assays, other statements relating to the technical, financial and business prospects
of the Company and its properties, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number
of estimates and assumptions. These statements relate to analyses and other information that are based on
forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any
statements that express or involve discussions with respect to predicti ons, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance (often, but not always, using words or
phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”,
“plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”,
“might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions
are not statements of historical fact and may be forward-looking statements. Forward-looking statement are
necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or
achievements of the Company to be materially different from future results, performances or achievements
express or implied by such statements. Such statements and information are based on numerous
assumptions regarding present and future business strategies and the environment in which the Company
will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals,
that general business and economic conditions will not change in a material adverse manner, that financing
will be available if and when needed and on reasonable terms, and that third party co ntractors, equipment
and supplies and governmental and other approvals required to conduct the Company’s planned exploration
activities will be available on reasonable terms and in a timely manner. While such estimates and
assumptions are considered reasonable by the management of the Company, they are inherently subject to
significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause act ual
events, level of activity, performance or results to differ materially from those reflected in the forward -
looking statements, including, without limitation: (i) risks related to gold and other commodity price
fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related
to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and
expenses; (iv) that resource exploration and development is a speculative b usiness; (v) that the Company
may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that
environmental laws and regulations may become more onerous; (vii) that the Company may not be able to
raise additional funds when necessary; (viii) the possibility that future exploration, development or mining
results will not be consistent with the Company’s expectations; (ix) exploration and development risks,
including risks related to accidents, equipment breakdown s, labour disputes or other unanticipated
difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for
delays in exploration or development activities or the completion of geologic reports or studies; (xii) the
uncertainty of profitability based upon the Company’s history of losses; (xiii) risks related to environmental
regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements
and permissions (generally referred to as “social licence”); (xv) risks relating to obtaining and maintaining
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all necessary government permits, approvals and authorizations relating to the continued exploration and
development of the Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political
and regulatory risks associated with mining and exploration; (xix) risks related to current global financial
conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties and
business strategy. These risks, as well as others, could cause actual results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements include,
but are not limited to, continued availability of capital and financing and general economic, market or
business conditions, the loss of key directors, employees, advisors or consultants, adverse weather
conditions, increase in costs, equipment failures, government regulations and policies, litigation, exchange
rate fluctuations, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate,
decrease in the price of gold and other metals, failure of counterparties to perform their contractual
obligations and fees charged by service providers. Investors are cautioned that forward-looking statements
are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance
on forward-looking statements due to the inherent uncertainty of such statements. The forward -looking
statements included in this news release are made as of the date hereof and the Company disclaims any
intention or obligation to update or revise any forward -looking statements, whether as a result of new
information, future events or otherwise, except as expressly required by applicable securities legislation.