CopAur To Initiate Work At Troy Canyon Gold And Silver Project That Has Never Been Drilled
CopAur To Initiate Work At Troy Canyon Gold And Silver
Project That Has Never Been Drilled
News Release - Vancouver, British Columbia –June 27, 2024: CopAur Minerals Inc. (“CopAur” or
the “Company”) (TSX-V: CPAU) (OTCQX:COPAF) is pleased to announce plans to initiate baseline
surveys prior to submission of a US Bureau of Land Management (BLM) Plan of Operations permit
application to support future exploration drilling and access construction at its at its 100% owned
Troy Canyon Gold -Silver Property (the "Troy Canyon Project" or the "Project") located in Nye
County.
CEO Jeremy Yaseniuk stated, “ After a site visit in 2023 , Conrad and I were left wondering why
mining was stopped in 1950 when such high grades were sampled from the dump and chipped
off adit walls? It's unclear how much more mineralization remains underground in this quartz
vein system that is exposed on the surface for 300 metre s. Given the exceptionally high-grade
material sampled from the historic mines and waste dumps , we have to wonder what else was
overlooked?”
Baseline surveys are expected to commence with an initial field visit by CopAur’s permitting
consultant Thorne Solutions LLC. Subsequent baseline surveys are expected to compromise,
wildlife, vegetation and cultural resource surveys preparatory to submission of a BLM POO permit
application.
The permit will allow for exploration drilling to advance significant historic underground and
current surface gold-silver anomalies identified at Troy Canyon, which has never been drilled to
date. This will be the first time that modern exploration techniques have ever systematically been
employed to this property.
Highlights of CopAur rock sampling at Troy Canyon include1:
• 42.7 grams-per-tonne (g/t) gold (Au) and 15 g/t Au, and 91 g/t silver (Ag) in outcrop of partially
oxidized silica-sulphide breccia at the historic Locke West and East Mine prospects.
• 37.7 g/t Au in oxidized quartz vein material sampled from historic waste dumps at the Locke
East Mine (Figures 1 and 2).
• 7.68 g/t Au including 526 g/t Ag, in addition to 97.20 g/t Ag and 105 g/t Ag from mine dump
material coincident with a 1.2 km north -south trending greater than 10 ppb Au in soil anomaly
along the western Troy Canyon Claims along the historic Leadhill and Galena vein trends.
1 See CopAur Minerals Inc. news release dated October 22, 2020.
The 2007 Troy Soil geochemical survey comprised 791 soil samples were collected along 120
metre (m) spaced north-south oriented gridlines at 60 m intervals. Of the 791 soils, a total of 41
samples returned greater than 20 parts -per-billion gold (ppb Au), g reater than the 95th
percentile, and up to 2.02 grams -per-tonne (g/t) Au in soil; in addition to greater than 0.25 g/t
silver (Ag) and up to 36.6 g/t Ag in soil. The results define a prominent greater than 50 ppb Au in
soil anomaly extending 650 m southwes t from the historical Locke Gold Mine portal. A 1.2 km
north-south trending greater than 10 ppb Au in soil anomaly occurs that is coincident with the
location of numerous historical adits and exploration pits (Leadhill and Galena vein trends).
Troy Canyon Summary
The Troy Canyon silver gold project is located in the Grant Range of eastern Nye County, Nevada,
approximately 150 km east of Tonopah. The project consists of 59 contiguous unpatented
mineral claims that cover 493 hectares of land centered approximately on the historical Locke
gold mine. High-grade gold mineralization occurs within massive quartz veins, vein breccias and
narrower sheeted vein and stockwork zones. The quartz system is exposed for 300 meters along
the sheared, northerly trending contact betwe en hanging wall recrystallized limestone of
Cambrian age and footwall quartz monzonite of the Tertiary (23 Ma) Troy pluton.
The Troy Gold-Silver Project has seen limited modern exploration effort and was a former small-
scale producer. Gold mineralization was first identified at the project in 1867 and small -scale
mining commenced in 1869. The most recent mining took place from 1948 to 1950 where 643
ounces of gold and 660 ounces of silver were reportedly produced from 1,859 tons of mineralized
rock, at an average grade of 11.83 g/t gold (0.345 oz/t Au) and 12 g/t silver (0.355 oz/t Ag).
The area of the old Locke Mine in Troy Canyon hosts mesothermal gold and silver mineralization
with potential for economically significant concentrations. Mesothermal systems typically are
persistent to great depths. To date the system seen on the Troy Can yon Project has only been
investigated over a vertical extent of approximately 180 metres, with the bulk of the work having
been concentrated on the hanging wall of the quartz host.
Recent assessments (late 1980s to early 2000s) of the project by multiple companies include
sampling of surface and underground quartz exposures, mine dumps, mineral processing
facilities, and tailings piles. In 2004, Miranda Gold Corp determined that stopes were developed
on multiple 'stacked' north -trending, moderately east -dipping veins. Three of 13 underground
stope rock grab samples collected by Miranda reportedly returned 47.8 g/t gold, 48.4 g/t gold,
and a high of 576 g/t gold* (16.8 oz/ton Au). The remaining ten rock samples collected from
underground stope and adit wall outcrops returned values ranging from <1 g/t gold to 8.8 g/t
gold, and from 0 g/t silver to 27 g/t silver.
In 2007, Portage Minerals Inc. completed a multi-parameter exploration program on the project
that included a property-wide soil geochemical survey, focused IP/Resistivity and CSAMT surveys,
and rock chip sampling and surveying of the main Locke mine under ground workings. The soil
geochemical program identified several zones of anomalous gold outbound of the mine and a
strong northwest trending IP anomaly in the southeast part of the survey area.
Gold mineralization is associated with grey, late -stage vuggy, sugary limonitic quartz and minor
sphalerite, galena and arsenopyrite, and a strong gold -bismuth correlation suggests that
mineralization is part of an intrusive -related mesothermal gold vein s ystem. Compiled data for
the Troy Canyon Project reference only one exploration drill -hole which apparently was
terminated in mineralized limestone before reaching the vein.
Figure 1. Troy Canyon Rock Geochemistry Highlights
CEO Jeremy Yaseniuk stated, “We look forward to reinvigorating exploration efforts at Troy
Canyon to capitalize on a project which hosts significant historic underground development that
targeted high grade gold bearing veins and breccia bodies, bolstered by multiple modern gold
and silver anomalies in rock and soil that have never been drilled.”
Figure 2. Historic Locke Gold Mine at Tory Canyon
About Thorne Solutions LLC
Formed in 2022, Thorne Solutions LLC advises companies on permitting strategy and
management of their environmental permitting processes, as well as contributing to strategy on
community relations, government relations, and bolstering companies’ corporate responsibility
programs. Thorne Solutions LLC’s primary focus is directing permitting, community relations, and
government relations for the Yerington Copper Project in Yerington, Nevada.
About CopAur
Copaur Minerals is associated with The Metals Group of companies including Altiplano Metals.
APN.v, Benchmark Metals (BNCH.V), Thesis Gold (TAU.V), Founders Metals (FDR.V) and Emperor
Metals (AUOZ.V). Metals Group is an award-winning team of professionals who stand for technical
excellence, painstaking project selection and uncompromising corporate governance, with a
proven ability to capitalize on investment opportunities and deliver shareholder returns.
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 of APEX Geoscience Ltd.
of Edmonton, AB, a “Qualified Persons” as defined in National Instrument 43-101 – Standards of
Disclosure for Mineral Projects. Mr. Raffle has 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]
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.
Forward Looking Information
This news release contains forward-looking statements. These statements relate to future events
or the Company’s future performance including obtaining the necessary regulatory approvals for
and completion of an option agreement on the Williams property with Omega Pacific Resources
Inc. All such statements involve substantial known and unknown risks, uncertainties and other
factors which may cause the actual results to vary from those expressed or implied by such
forward-looking statements including if Ome ga Pacific will be able to raise sufficient funding to
exercise the options on the Williams Property or if it will exercise any of the options granted
under the option agreement. Forward -looking statements involve significant risks and
uncertainties, they should not be read as guarantees of future performance or results and they
will not necessarily be accurate indications of whether or not such results will be achieved. Actual
results could differ materially from those anticipated due to a number of factors and risks.
Although the forward -looking statements contained in this news release are based upon what
management of the Company believes are reasonable assumptions on the date of this news
release, the Company cannot assure investor s that actual results will be consistent with these
forward-looking statements. The forward-looking statements contained in this press release are
made as of the date hereof and the Company disclaims any intention or obligation to update or
revised any forward-looking statements whether as a result of new information, future events or
otherwise, except as required under applicable securities regulations.