CopperCorp Commences Maiden Drill Program at Dora Prospect Targeting Outcropping Mineralization Zones with up to 6.3% Cu, 47.7 g/t Au, 250g/t Ag, 2.25% Co, 5.5% Zn, 2.3% Pb in Western Tasmania
CopperCorp Commences Maiden Drill Program
at Dora Prospect Targeting Outcropping
Mineralization Zones with up to 6.3% Cu, 47.7
g/t Au, 250g/t Ag, 2.25% Co, 5.5% Zn, 2.3% Pb
in Western Tasmania
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2023) - CopperCorp Resources Inc.
(TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to report that it has
commenced a 3-hole scout diamond drilling program at the Skyline Project, located 15km northeast of
Queenstown in western Tasmania, Australia.
Highlights
A 3-hole, 750m scout diamond drilling program has commenced at the previously undrilled Dora
prospect - a 5km long zone of outcropping IOCG style mineralization within the Skyline Project in
western Tasmania
Drilling will test under outcropping mineralization along the Dora trend where previous rock
sampling
1
has returned anomalous assays including up to 6.3% Cu, 47.7g/t Au,250g/t Ag, 2.25%
Co, 5.5% Zn, 2.3% Pb, and 839ppm TREO from individual samples
Dora Prospect is located near two large-scale mines that are within 5 km of the Skyline project
boundary - the Mt Lyell Cu-Au deposit (3 Mt Cu and 3 Moz Au @ 1.0% Cu and 0.3g/t Au)
2
, and the
Henty Au deposit (1.64 Moz Au @ 12.5 g/t Au)
2
The drill program is partially co-funded by the Tasmanian government
Stephen Swatton, President and CEO of CopperCorp, commented:
"The commencement of a drill program at a highly mineralized zone close to, and potentially on strike
from, a 3Mt/3Moz copper-gold deposit (Mt Lyell, New Century Resources) that has never been drilled
before is significant and exciting. Our sampling of historical trenches returned spectacular results
which replicated previously recognized copper-gold base metal zones coincident within a 5km series
of highly magnetic north-northwest trending structures. We are also to report that the government of
Tasmania has awarded the Company a grant to offset drilling and helicopter costs, a strong
endorsement of the Company and the government's recognition of the value of mineral exploration to
the state's economy. We will eagerly await assay results from the drilling which we expect in Q2 2023.
"The location of the project is in western Tasmania, a recognized multicommodity mining district, that
benefits from cheap 100% renewable power, a skilled labour force and a technical service industry
that supports the 6 nearby operating mines and numerous quarry operations."
Planned Drill Program
The planned drilling program comprises 3 scout diamond drill holes totaling 750m, to be drilled from 2
pad locations approximately 1km apart that will test 2 priority targets (Dora 2 and 3) for IOCG style
mineralization. The first drill hole will test the Dora 3 target area, while 2 holes will be drilled from the
second pad to test the Dora 2 target area. The program may be extended depending on results of the
initially planned holes. The drilling is helicopter-assisted (mobilization, supply, demobilization).
The first two drill holes of the planned program were successfully awarded co-funding under the
Tasmanian government's exploration drilling grant initiative (EDGI) scheme. The government contribution
to each drill hole is up to $50,000 for direct drilling costs, plus an additional $20,000 for helicopter
support.
About the Dora Prospect
The Dora prospect is defined by a northwest trending 5 km long zone of highly prospective outcropping
polymetallic Cu-Au-(Ag-Zn-Pb-Co-REE) mineralization. The area saw a period of small-scale mining
and prospecting between the years 1890 and 1920 but was then left unexplored until more modern
times. Geological mapping and sampling of outcropping mineralization and historical small scale mine
workings by previous explorers since the 1960's and, more recently, by CopperCorp has led to 4 high-
priority target areas being identified at Dora (see below).
Despite evidence for a potentially significant
Cu-Au system at Dora, the area has so far remained untested by drilling.
Dora 1 Target Area:
At Dora 1, anomalous assays from outcrop and historical workings occur over a +300m long,
approximately 50m wide vein and breccia-matrix mineralized zone adjacent to a mapped quartz-feldspar
porphyry intrusive. The mineralization is coincident with a magnetic high feature that extends over 1 km
of strike length. Historical and recent anomalous rock sample assays from the Dora 1 area include:
3.2% Cu with 1.44 g/t Au, 42 g/t Ag, 1.7% Zn and 0.85% Pb
.
0.2% Cu with 1.9 g/t Au, 16 g/t Ag and 885ppm Co
.
Numerous samples ranging 0.25-0.54% Cu, 0.12-0.47 g/t Au, 54-88 g/t Ag, 146-320ppm Co, 0.2-
9.6% Zn, 0.4-2.1% Pb.
Dora 2 Target Area:
Dora 2, which lies adjacent to the southwest of Dora 1, comprises a +200 m strike zone of historical
small-scale mine workings on mineralization hosted in an intrusive quartz-feldspar porphyry and adjacent
altered volcaniclastic rocks. Historical and recent anomalous rock sample assay results from the Dora 2
area include:
47.7 g/t Au with 3.85% Cu, 2.25% Co, 250 g/t Ag and 0.46% Pb
with visible erythrite (a cobalt
arsenate mineral).
6.3% Cu with 2 g/t Au, 152 g/t Ag, 0.5% Pb and 0.4% Zn
.
0.5% Cu, with 0.8 g/t Au,
115 g/t Ag, 5.5% Zn, and 2.3% Pb
.
Multiple samples ranging 0.1-0.4% Cu, 0.1-1.2g/t Au, and 3.0-132g/t Ag, with up to 138ppm Mo,
135ppm U and 836ppm TREO.
Dora 3 Target Area
:
The Dora 3 target area comprises an elongate zone, some +500m in strike length (open), of outcropping
mineralization in an altered volcaniclastic host rock sequence. Anomalous assays from historical and
recent rock sampling in the Dora 3 area include:
1.03% Cu with 0.4g/t Au, 21g/t Ag and 0.13% Zn
.
1.29% Cu with 8.0g/t Ag.
0.91% Cu with 0.3g/t Au and 11g/t Ag.
0.59% Cu with 0.19g/t Au and 14g/t Ag.
Dora 4 Target Area:
Dora 4 comprises a +800 m long northwest-trending line of outcropping mineralization and historical
mine workings. Historical and recent anomalous rock sample assay results from the Dora 4 area
include:
1.38% Cu with 9.3 g/t Ag.
0.78% Cu with 7.0 g/t Ag and 0.23% Pb.
0.68% Cu with 3.4g/t Ag and 0.14% Pb.
0.21% Cu with 0.1g/t Au and 15g/t Ag.
Individual samples with up to 53g/t Ag, 2.4% Zn, 2.6%Pb, 473ppm Co and 608ppm TREO.
IOCG Prospectivity at Skyline
Cu-Au mineralization at the Dora prospect and wider Skyline project typically comprises vein and
disseminated magnetite/hematite-pyrite-chalcopyrite in altered volcaniclastic and quartz-feldspar
porphyry host rocks. Lesser minerals include bornite, covellite, chalcocite, native copper, native silver,
galena, sphalerite, erythrite, cobaltite, and hematite. Malachite and/or azurite occur locally as oxidation
products of chalcopyrite. Elevated concentrations of cobalt and rare earth elements are associated with
the mineralization assemblage.
The hydrothermal mineralization system at the Skyline project is interpreted to be of magmatic-
hydrothermal IOCG type in style
1
, associated with Cambrian aged magnetite-series, K-Ba-REE rich,
alkaline granitoid-porphyry intrusives, and shows similarities to magmatic-hydrothermal IOCG systems of
the Andean coastal cordillera (e.g. Candelaria deposit: 470Mt @0.95% Cu and 0.22g/t Au)
1
.
Other Business
Alpine West Drilling Update
The maiden drilling program at the Alpine West prospect, 500m west of the Alpine Stellar zone, is
currently ongoing and expected to be completed before the end of February. The drilling comprises 3
diamond core holes totalling approximately 1,550m. Samples from the first 2 holes are at the laboratory.
Results will be reported following receipt of assays, review and interpretation.
AMC Regional Exploration
Recent data compilation and review work undertaken for CopperCorp's AMC Project has identified 23
priority Cu-Au exploration target areas. The primary exploration target is for iron-oxide-copper-gold
(IOCG) style mineralization, however, potential for other mineralization styles was also recognized during
the review, including volcanogenic Cu-Au and intrusion-related Cu-Au and Ag-Pb. The Company's
exploration team has commenced ground activities (geological mapping and sampling) aimed to further
assess and refine the exploration targets. Initial work has focussed at the Jasper Hills Cu-Au prospect
(Figure 1) where initial reconnaissance has identified multiple historical mine workings and outcropping
mineralization.
This has led to a more detailed geological and sampling program at Jasper Hills which is
currently ongoing. Results from the regional exploration programs will be release following receipt,
review and interpretation of sample assay results.
New Tenement Application
A review of potential copper-gold opportunities in Tasmania identified open ground in the central north of
the state with potential prospectivity for sediment-hosted stratiform copper mineralization.
In order to
facilitate a more in-depth review and assessment, the Company has secured the area, called the
Whiskey Creek Project, under a tenement application (EL15/2022) submitted covering a 243 km
2
area
(see Figure 1). Notwithstanding any stakeholder objections to the application, it is anticipated that the
tenement will be granted in the coming months.
Figure 1. Location plan showing CopperCorp's exploration licenses and project areas in western
Tasmania, Australia.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8950/155460_49dd94185433e821_002full.jpg
Figure 2. Geological summary map of the EL16/2018 area with exploration target areas.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/8950/155460_49dd94185433e821_003full.jpg
Figure 3. EL16/2018 exploration target zones with TMI magnetics image.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/8950/155460_49dd94185433e821_004full.jpg
Figure 4. Dora Zone TMI image with historical rock sample copper assays.
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/8950/155460_49dd94185433e821_005full.jpg
About the Skyline Project
The Skyline Project (EL16/2018) covers 97 km
2
of prospective ground along the eastern margin of the
highly mineralized subduction-related, Cambrian-aged calc-alkaline volcanic arc of the Mount Read
Volcanics belt. Two large-scale operating mines lay within 5 km of the project - the Mt Lyell Cu-Au
deposit (3 Mt Cu and 3 Moz Au @ 1.0% Cu and 0.3g/t Au)
2
, and the Henty Au deposit (1.64 Moz Au @
12.5 g/t Au)
2
. The project was acquired by the Company through its acquisition of Georgina Resources
Pty Ltd in November 2020.
Further information on the project is detailed within the NI43-101 technical
report
1
.
About CopperCorp
CopperCorp is a well-financed mineral exploration company with approximately C$6.7M in cash as of
January 31, 2023, targeting world class copper-gold discoveries in western Tasmania, Australia. The
Company is currently undertaking drill programs at the Alpine prospect (AMC Project) and the Dora
prospect (Skyline Project) as well as regional exploration programs.
Quality Assurance / Quality Control on Assay Results
Full information on historical exploration activities and results at the Dora prospect and Skyline Project
are included in the Company's Technical Report with an effective date of September 14, 2022
1
.
Information on historical and recent prospecting, mining, and exploration activities at the Skyline Project
and Dora prospect and other prospective areas contained within this news release has been reviewed
and verified by the Qualified Person.
Historical and recent data is considered sufficiently consistent
between generations of past explorers, and sufficiently consistent with recent results, to provide
confidence that compiled and reviewed assay results are indicative of the tenor of the samples. In the
opinion of the Qualified Person, sufficient verification of the data has been undertaken to provide
sufficient confidence that past exploration programs were performed to adequate industry standards and
the data reported is fit for substantiating the prospectivity of the project in general, supporting the
geological model/s proposed, planning exploration programs, and identifying/generating targets for
further investigation.
Qualified Person
The Company's disclosure of technical or scientific information related to the Skyline Project and the
Dora prospect in this news release was reviewed and approved by Sean Westbrook, VP Exploration for
the Company. Mr. Westbrook is a Qualified Person as defined in National Instrument 43-101. This news
release also contains information about adjacent properties on which the Company does not have an
interest. Information sources regarding the adjacent properties are listed in the References section of
this news release. The QP has been unable to verify the information on these adjacent properties and
the information is not necessarily indicative to the mineralization on the properties that is the subject of
this news release.
References
1
Independent Technical Report on EL16/2018 Walford Peak (Skyline Project), Tasmania, Australia.
Prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral
Properties (NI 43-101).
Effective date September 14, 2022 (CPER TSXV News Release September
21, 2022).
2
Seymour, D.B., Green, G.R., and Calver, C.R. 2007.
The Geology and Mineral Resource of
Tasmania: a summary
.
Geological Survey Bulletin 72.
Mineral Resources Tasmania, Department of
Infrastructure, Energy and Resources Tasmania.
Contact:
Stephen Swatton
President, CEO & Director
Alexander Muir, CFA
Manager, Corporate Development & Investor Relations