CopperCorp Commences Drilling at Razorback
Vancouver, B.C. (TSXV: CPER) (OTCQB: CPCPF)
CopperCorp Commences Drilling at Razorback
VANCOUVER, BC January 18, 2024 – CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) (FSE: NU0)
(“CopperCorp” or the “Company”) is pleased to announce that it has commenced its 2024 exploration
program. D rilling has started at its Razorback rare earth and copper property in west ern Tasmania,
Australia.
CopperCorp is planning to complete up to 5,000m of diamond drilling at Razorback in 2024. Further drilling
may be considered subject to permitting, results and market conditions. The Company also intends to
drill-test other highly ranked prospects in the Company’s portfolio as the season progresses.
The Company is well financed with $5.5M in working capital. All of CopperCorp’s projects are located
within the highly prospective mining district of western Tasmania w here there are currently 5 mines in
operation. The state of Tasmania actively supports exploration and mining activity and is 100% powered
by renewable energy.
Highlights of the current drilling campaign
• Diamond drilling has commenced at the Darwin Zone target area, a 7km long north-south trending
coincident magnetic and potassium -thorium radiometric anomaly with outcropping IOCG style
alteration and Cu-Au and REE mineralization within the Razorback property, western Tasmania.
• An initial 2 hole, 1200m program will test depth and strike extensions to Cu -Au and REE
mineralization at the South Darwin prospect where historical drill intercepts include:
SDD005:
o 72.0m @ 1.13% total rare earth oxides (TREO) from 286m, including
30.0m @ 2.26% TREO from 296m, including
• 10.0m @ 3.0% TREO from 307m
o 13.0m @ 1.2% Cu and 0.45g/t Au from 345m
CopperCorp CEO Steve Swatton commented, “As mid-summer approaches in Tasmania we are excited
to start our 2024 exploration program and to see the drill turning at Razorback. Located along trend from
Mt. Lyell, a 3Mt copper mine, the granting of Razorback is a strategic highlight for CopperCorp and further
enhances the Company’s portfolio of high-quality exploration projects.
To receive the necessary permissions to drill in a matter of approximately 2 months speaks to the
proactive stance the state of Tasmania takes to supporting responsible exploration and mining activities.
The outlook for copper and critical metals such as REE’s could not be more positive at this moment in
time. I look forward to informing our shareholders on progress of the Company’s drilling and exploration
programs on a regular basis.”
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
Planned Drill Program
The planned phase 1 drilling program at Razorback comprises an initial 2 diamond drill holes totaling up
to 1,200m. The first drill hole will test for depth extensions approximately 130 to 150m below the high-
grade REE and Cu-Au mineralization intercepted in historical hole SDD005, while the second hole will test
for strike extension to the mineralization. The program may be extended depending on results of the
initially planned holes and/or results from surface sampling and mapping programs that are ongoing in
the prospect area.
About the Darwin Zone Target Area
The Darwin Z one is defined by a 7km long north -south trending coincident magnetic and potassium -
thorium radiometric anomaly. Historical drilling2 (comprising 8 diamond core holes totaling 2,293m) into
part of this extensive anomaly at the South Darwin prospect intercepted significant IOCG style Cu-Au and
REE mineralization associated with north-south trending hydrothermal breccias comprised of magnetite-
hematite-pyrite-chalcopyrite-bornite mineralization hosted in intensely K -feldspar-chlorite-tourmaline
altered volcanics directly adjacent to intrusive granites and porphyry bodies. The mineralization at South
Darwin remains open at depth and along strike, and with the previous drilling testing less than 10% of the
7km-long anomaly . T he Company considers there to be excellent further REE and Cu -Au discovery
potential at Darwin Zone.
The IOCG style mineralization drilled at South Darwin comprises vein, breccia and semi-massive to massive
magnetite-pyrite-chalcopyrite. The previous drilling returned a best intercept of 13.0m @ 1.2% Cu and
0.45g/t Au from 345m (SDD005) 2,4 and the same hole also intercepted significant rare earth element
mineralization2,4 including 30.0m @ 2.26% TREO from 296m1.
Recent resampling1 of historical drill core has confirmed that the high-grade REE mineralization at South
Darwin is enriched in critical listed and valuable REE minerals (see Table 1).
DH ID From To Width TREO CeO2 La2O3 Nd2O3 Pr6O11 Sm2O3 Gd2O3 Dy2O3 Eu2O3 Er2O3 Tb4O7 Ho2O3 Tm2O3 Lu2O3 Yb2O3 Y2O3
m m m % % % % % ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm
SDD005 296 326 30 2.26 1.07 0.56 0.36 0.11 532 326 137 48 34 35 17 4 3 22 512
Table 1. Rare earth oxide values from significant drill hole intercept in SDD005 30.0m @ 2.26% TREO
(1.0% TREO cut-off). Values have been rounded. Magnet Rare Earth Oxides (MREO) are shaded.
Preliminary assays from reconnaissance field sampling carried out by the Company 1 has confirmed high-
grade REE mineralization in outcrop at the South Darwin prospect with rock chip samples returning
14.28% to 18.58% TREO. The high-grade mineralization appears to be associated with a biotite-allanite-
monazite bearing late -stage intrusive rock. Importantly, these rocks chip samples were taken
approximately 1km southeast of the high -grade REE intercept in drill hole SDD005 that will be followed
up in the planned drill program.
Other Work Programs
Concurrent with the drilling program, the Company continues to carry out surface mapping and rock
sampling programs over the priority target zones (Darwin, Hydes and Jukes Zones2) within the Razorback
property (Figure 1). Assay results are pending for over 150 surface rock samples collected at the Darwin
and Jukes target zone area.
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
Compilation of historical drilling and adit sampling data at the Jukes target where historical drill
intercepts include 13.4m @ 1.6% Cu and 1.6g/t Au from 61.6m (JP02, Jukes prospect) is in progress
towards developing a 3D geological model and drill hole planning.
Figure 1. Exploration target areas, Razorback property.
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
Figure 2. Magnetics (left) and thorium in radiometrics (right) image with Ce in historical surface rock
sampling, Darwin Zone target area. Historical rock chips samples were mostly not assayed for full suite
REE and Ce values are used as an indicator for REE mineralization. The magnetic anomalies are due to
magnetite associated with IOCG style mineralization, while thorium is a common indicator for possible
REE mineralization.
Option Grant
The Company also announces that it has granted stock options to certain of its directors, officers
and consultants to purchase up to 2,050,000 common shares. Each option is exercisable to
acquire one common share of CopperCorp at a price of $0.12 for five years from the date of the
grant. The options were granted and will vest in accordance with the Company’s equity incentive
plan and are subject to TSX Venture Exchange approval.
About CopperCorp
CopperCorp is focused on the exploration and development of its Alpine copper prospect and Razorback
copper rare earths located in western Tasmania. The company is well- financed with approximately
C$5.5M in working capital as of January 10, 2024.
Quality Assurance / Quality Control on Assay Results
Information on historical and recent prospecting, mining, and exploration activities at the Razorback
property 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
historical and new data has been undertaken to provide sufficient confidence that past exploration
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
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 targets for further investigation. The Company has undertaken
resampling and analysis of available historical drill core in order to independently verify historical results.
Mineralized Interval Calculations
Reported rare earth element significant mineralized intervals in this news release are calculated as down-
hole length-weighted intercepts using a 0.15% TREO lower cut-off grade and generally carry a maximum
internal dilution of 4m. High-grade mineralized intervals were calculated using a lower cut -off grade of
1.0% TREO. No top-cut grade was applied. True widths of drill hole intercepts are yet to be determined ;
however, it is estimated that true widths are in the range of 70% to 95% of reported intervals.
Rare Earth Element Calculations
TREO (Total Rare Earth Oxides) values were calculated by the formula: TREO = CeO2 + La2O3 + Nd2O3 +
Pr6O11 + Sm2O3 + Gd2O3 + Dy2O3 + Eu2O3 + Er2O3 + Tb4O7 + Ho2O3 + Tm2O3 + Lu2O3 + Yb2O3 + Y2O3.
MREO (Magnet Rare Earth Oxides ) values were calculated by the formula: TREO = Nd2O3 + Pr6O11 +
Sm2O3 + Gd2O3 + Dy2O3 + Tb4O7 + Ho2O3.
Standard element to oxide conversion factors have been used in the calculation of rare earth oxide values
from elemental assay values.
Qualified Person
The Company’s disclosure of technical or scientific information related to EL8/2023 (the Razorback
property), in this news release has been reviewed and approved by Sean Westbrook, VP Exploration for
the Company. Mr. Westbrook is a Qualified Person (QP) as defined in National Instrument 43 -101. This
news release may also contain 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
1CPER: TSXV News Release 15th November 2023
2CPER: TSXV News Release 20th September 2023
3CPER: TSXV News Release 21st February 2023.
4CPER: TSXV News Release 6th June 2023.
Contact:
Stephen Swatton
President, CEO & Director
Additional information about CopperCorp can be found on its website: www.coppercorpinc.com and at
www.sedarplus.ca
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
CAUTIONARY STATEMENT REGARDING FORWARD- LOOKING INFORMATION: This news release includes certain
“forward-looking statements” under applicable Canadian securities legislation relating to the scope and timing of
exploration at the Razorback property, plans for future exploration and drilling and the timing of same, the merits of the
Company’s mineral projects and other plans of the Company. Forward-looking statements are statements that are not
historical facts; they are generally, but not always, identified by the words “encouraging”, "expects”, "plans”,
"anticipates”, "believes”, “interpret”, "intends", "estimates", "projects", "aims", “suggests”, “often”, “target”, “future”,
“likely”, “pending”, "potential", "goal", "objective", "prospective", “possibly”, “preliminary” and similar expressions, or
that events or conditions "will", "would", "may", "can", "could" or "should" occur, or other statements, which, by their
nature, refer to future events. The Company cautions that forward- looking statements are based on the beliefs,
estimates and opinions of the Company's management on the date the statements are made, and that such statements
are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially
from those contained in the statements. Consequently, there can be no assurances that such statements will prove to
be accurate and actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements.
Factors that could cause future results to differ materially from those anticipated in forward-looking statements include
risks associated with exploration and drilling; the timing and content of upcoming work programs; geological
interpretations based on drilling that may change with more detailed information; possible accidents; the possibility
that the Company may not be able to secure permitting and other governmental approvals necessary to carry out the
Company's plans; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; the
possibility that future exploration results will not be consistent with the Company’s expectations; increases in costs;
environmental compliance and changes in environmental and other local legislation and regulation; interest rate other
risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological
factors a nd exchange rate fluctuations; changes in economic and political conditions; and other risks involved in the
mineral exploration industry. The reader is urged to refer to the Company's Management’s Discussion and Analysis,
publicly available through the Canadian Securities Administrators' System for Electronic Document Analys is and
Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of risk factors and their potential effects.
Forward-looking statements are based on a number of assumptions, including management’s assumptions about the
following: the availability of financing for the Company’s exploration activities; operating and exploration costs; the
Company’s ability to attract and retain skilled staff; timing of the receipt of necessary regulatory and governmental
approvals; market competition; and general business and economic conditions. 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 required by law.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.