CopperCorp Confirms Large IOCG System at South Darwin
Vancouver, B.C. (TSXV: CPER) (OTCQB: CPCPF)
CopperCorp Confirms Large
IOCG System at South Darwin
VANCOUVER, BC August 19, 2024 – CopperCorp Resources Inc. (TSXV: CPER) (OTC QB: CPCPF)
(“CopperCorp” or the “Company”) is pleased to provide an update on its 100% owned 171km2 Razorback
Copper-Gold-REE property in western Tasmania, Australia. This is the Company ’s first exploration field
season at Razorback. The South Darwin prospect lies at the southern end of the Razorback property
adjacent to a paved secondary road.
Highlights
• Assay results received for the 2-hole diamond drill program at the South Darwin prospect confirm
strike extension of IOCG style Cu -Au and anomalous rare earth element ( REE) values to at least
80m north of previous drilling. Significant mineralized intercepts from the drilling include:
SDD007:
• 50.0m @ 0.51% TREO from 89.0m, including 12.0m @ 0.9% TREO from 418.0m
SDD008:
• 14.0m @ 0.45% Cu and 0.08g/t Au from 349.0m, including 4.0m @ 1.1% Cu and 0.15g/t
Au from 352.0m
• 60.0m @ 0.21% total rare earth oxides (TREO) from 0m, and 86.0m @ 0.19% TREO from
299.0m
• 3D magnetic inversion modelling indicates a large magnetic body at a depth of 200-300m below
current drilling at South Darwin representing an interpreted sub -vertical extension of the IOCG
system.
• Extensive surface mapping and rock chip sampling have identified a magnetite and REE anomaly
over a prospective strike length of up to 5km long and 1.5 km wide at the Darwin Zone with
multiple areas highlighted for follow -up investigation . Less than 5% of the Darwin Zone
prospective strike length has been tested by drilling.
• The geochemistry of REE mineralogy at the Darwin Zone is similar to many large IOCG alteration
systems world-wide.
Stephen Swatton, President and CEO of CopperCorp commented:
“Despite the drill results being less exciting than we had hoped, the recognition of a large magnetic target
below shallow IOCG style Cu -Au-REE mineralization and alteration at South Darwin is very encouraging.
The drilling, alteration style and geophysical interpretation confirms that Darwin contains the hallmarks
of a large IOCG system, consistent with the rest of the Razorback property.
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
In summary, I am very encouraged; the results give us further confirmation of the thesis that Mt Lyell and
Darwin are indeed part of the same large mineralized system. CopperCorp has many Cu- Au showings
between Darwin and Mt Lyell that are known (see figure 1). Some of these have been explored as part of
the on-going exploration program and I look forward to reporting the results over the coming Tasmanian
summer. The next news release will report the work at Hydes and Jukes.”
Figure 1. – Location of the Razorback property relative to the Mt Lyell copper-gold mine – Blue outlines
are CopperCorp’s 100% owned licenses.
Darwin Zone Exploration Work Completed
Since granting in August 2023 5, CopperCorp has completed extensive early -stage exploration work
programs at the Darwin Zone including:
• A 2-hole, 1022m diamond drilling program at the South Darwin prospect.
• Geological mapping and sampling campaigns (167 rock chip samples collected and assayed).
• Compilation, digitization and review of extensive historical exploration data and scientific
literature.
• Re-processing and 3D inversion modelling of magnetic and gravity geophysical data.
South Darwin Diamond Drilling
Two diamond drill holes (SDD007 and SDD008 – Figures 2 and 3 , Table 1 ) totalling 1022 .4m were
completed at the South Darwin prospect area during January-March and May-June 2024. Both holes were
designed to test for extensions to REE and Cu -Au mineralization intercepted in historical drill hole s
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
(SDD005: 72.0m @ 1.13% TREO, and 13.0m @ 1.2% Cu and 0.45g/t Au 4,5). Assay results have been
received and reviewed and are reported below (see also Table 2).
SDD007
Drill hole SDD007 was designed to test 130-150m beneath high-grade REE and Cu-Au mineralization zones
intersected in historical hole SDD005. Hole SDD007 was completed to a depth of 553.7m and intercepted
a sequence of potassic-iron type (K -Fe) K-feldspar-magnetite-chlorite-biotite-tourmaline altered dacitic
volcanics followed by a 30m-wide zone of magnetite -apatite-pyrite stockwork mineralization (Figure 6)
from 418m before passing a faulted contact into unmineralized sericite-albite-chlorite altered rhyolitic
volcanics. A 50m-wide zone of moderately elevated REE mineralization associated with allanite alteration
was intercepted partially overlapping the K-Fe alteration and magnetite-apatite stockwork zone, with
assays returning:
SDD007:
• 50.0m @ 0.51% total rare earth oxides (TREO) from 389.0m, including
o 12.0m @ 0.9% TREO from 418.0m
No significant copper- gold mineralization was intercepted in SDD007. Structural data interpretation
indicates that the targeted high -grade copper -mineralization is possibly faulted out prior to the
anticipated target depth in SDD007 (see discussion below).
SDD008
Drill hole SDD008 was designed to test 50-80m along strike to the north of the high-grade REE and Cu-Au
mineralization intersected in historical hole SDD005. Hole SDD008 was completed to a depth of 468.7m
and, similar to SDD007, intercepted a sequence of variably potassic-iron type (K-Fe) K-feldspar-magnetite-
chlorite-biotite-tourmaline altered dacitic volcanics followed by a 40m-wide zone of stockwork to massive
magnetite-apatite-pyrite-chalcopyrite mineralization from 346m. A 10m-wide fault zone (the Prince
Darwin Fault) marked the down-hole termination of the mineralized zone against un-mineralized sericite-
albite-chlorite altered rhyolitic volcanics.
The variably mineralized magnetite-pyrite-chalcopyrite zone in SDD008 returned best assay intervals of:
SDD008:
• 14.0m @ 0.45% Cu and 0.08g/t Au from 349.0m, including
o 4.0m @ 1.1% Cu and 0.15g/t Au from 352.0m, including a high-grade chalcopyrite matrix
breccia zone grading 0.5m @ 4.76% Cu and 0.48g/t Au from 354.0m (see Figure 5)
• 60.0m @ 0.21% total rare earth oxides (TREO) from 0m, and 86.0m @ 0.19% TREO from 299.0m
Darwin Zone Surface Mapping and Sampling
An extensive surface mapping and rock chip sampling program was carried out over the Darwin Zone
target area during November 2023 to April 2024. Assay results for 167 rock samples have been received.
Results of the work confirm widespread potassic -iron type K -feldspar-magnetite-chlorite-biotite-
tourmaline alteration with locally intense magnetite-apatite mineralisation (massive veins, stockwork and
breccia) coincident with elevated REE values (collectively K-Fe-REE alteration) over a N-S strike length of
up to 5km long at the Darwin Zone (Figure 7). Best assay results from individual rock chip samples include
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
10.35g/t Au, 1.51% Cu , and 18.58% TREO . Multiple areas with anomalous rock chip values have been
highlighted for further investigation in future exploration programs.
Magnetic 3D Inversion Modelling
Geophysical consultants Resource Potentials Pty Ltd were engaged to carry out data processing and 3D
inversion modelling of magnetic data over the Razorback property . 3D i nversion model isosurface
threshold shells for a standard magnetic susceptibility 3D model are shown in Figure 4 for the area of
drilling at South Darwin. The model indicates t wo high-amplitude modelled magnetic source bod ies
localized in the near-surface, with a much larger source body indicated at depth (Figure 4).
Both modelled shallow magnetic bodies are associated with mapped K -Fe-REE alteration, stockwork
magnetite veining, historical copper workings, and elevated REE values at surface over N-S strike lengths
of 1.5 -2km in the South Darwin area. Only the eastern -most shallow magnetic body has been drilled
(recent and historical drilling), with the drilling confirming a Cu-Au fertile system with strong IOCG
characteristics.
The inversion model extends below both shallow bodies to a much larger magnetic source body at depth
that is untested by existing drilling. An interpreted sub-vertical extension of the magnetite-rich K-Fe-REE
alteration (and associated Cu -Au mineralization) is supported by the magnetic inversion model and
represents an obvious priority target zone for deeper drill testing. The top of the deep magnetic target is
500-600m below ground level and 200-300 below the current deepest drill hole at South Darwin.
Discussion of Results and IOCG Prospectivity of the Darwin Zone
Results of the recent drilling and surface mapping/sampling programs and geophysical modelling work
continue to indicate a highly prospective IOCG -REE system extending over an area up to 5km long and
1.5km wide at the Darwin Zone . Anomalous REE values are now recognised as an important vector
towards Cu -Au mineralization in the area, having a broad association with stockwork to massive
magnetite-apatite±biotite±tourmaline alteration domains which in turn form the main host to IOCG style
Cu-Au mineralization in the area.
Allanite forms the main REE-bearing mineral at the Darwin Zone and, in association with the widespread
potassic-iron (K-Fe) alteration, indicates pronounced similarities to many large IOCG alteration systems
word-wide, including at the Cristalino deposit in Brazil, the Mantoverde and Candelaria deposits in Chile,
the Mina Justa deposit in Peru, and the Sin Quyen deposit in Vietnam (Skirrow, 2022).
The high-grade chalcopyrite matrix breccia zone (Figure 5) intercepted in SDD008 (0.5m @ 4.76% Cu and
0.48g/t Au ) is considered highly encouraging and indicative of the potential of the system to host
significant IOCG style mineralization.
The identification of N -S trending faults with close associations to the IOCG mineral system at South
Darwin (Prince Darwin Fault – see Figure 4) is considered highly encouraging. On a regional scale, N-S to
NNE-SSW trending faults in the Mount Read Volcanic belt represent the original back arc basin forming
extensional structures and are known to have important associations with the formation of some of the
largest mineral deposits in the region (e.g. Mt Lyell Cu-Au system, Henty Au deposit). The recognition of
such faults associated with mineralization in the Darwin Zone is therefore highly significant.
As discussed above, results of magnetic 3D inversion modelling indicate a large magnetic source body at
depth that is untested by current drilling. The target is located adjacent to the projected position of the
Prince Darwin Fault at depth.
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
Figure 2. South Darwin prospect summary plan showing drill hole locations with a first vertical derivative
(1VD) magnetic image underlay.
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
Figure 3. South Darwin prospect cross section A-A’ (see Figure 2), showing down-hole copper and total
rare earth oxide (TREO) assay results, interpolated grade shells, and significant mineralized intercepts.
Figure 4. South Darwin prospect 3D section (looking north) showing the 3D inversion standard magnetic
susceptibility model and deep target zone underlying the prospect area. Shown magnetic susceptibility
isosurface shells are for 0.5 SI (inner), 0.3 SI (middle) and 0.2 SI (outer).
Figure 5. High-grade chalcopyrite matrix breccia in massive magnetite altered host rock, 0.5m @ 4.76%
Cu and 0.48g/t Au from 354m, SDD008, South Darwin prospect.
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
Figure 6. Intense potassic-iron (K-Fe) alteration with stockwork magnetite-pyrite veining, ~443m,
SDD007, South Darwin prospect.
Figure 7. Darwin Zone area with complete bouguer anomaly (CBA), 20km high-pass (HP20km) residual
gravity image, TMI 1VD magnetic contours, rock chip total rare earth oxide (TREO) values.
550-800 West Pender St. Vancouver, BC V6C 2V6 | E: [email protected] | W: coppercorpinc.com
Other Exploration
The Company is currently planning and permitting exploration work programs for the upcoming
Tasmanian summer 2024/25 field season. The Company has received permits for a 1000m diamond drill
program at the Jukes prospect, including road access but has decided to delay drilling during the winter
months while it awaits outcomes of a new round of the state government’s exploration drilling grant
initiative offering grants for co-funded exploration drilling projects.
Drill Hole Location Data
Drillhole
ID
Easting
GDA94
Northing
GDA94 mRL
Final
Length
(m)
Dip Azimuth Company
SDD007 383094 5318440 742 553.7 -70 288 CopperCorp
SDD008 383060 5318479 739 468.7 -62 297 CopperCorp
Table 1. South Darwin prospect CopperCorp drill hole location and summary data (this news release).
Significant Cu-Au Mineralized Intervals (0.1% Cu cut-off)
Prospect Hole Number From (m) To (m) Interval (m) Cu (%) Au (g/t)
South Darwin SDD007 159.0 172.0 13.0 0.21 0.06
South Darwin
SDD008 299.0 306.0 7.0 0.24 0.07
and 322.0 334.0 13.0 0.19 0.05
and 349.0 363.0 14.0 0.45 0.08
including 352.0 356.0 4.0 1.1 0.15
including 354.0 354.5 0.5 4.76 0.48
and 371.0 381.0 10.0 0.19 0.05
Table 2: South Darwin prospect significant drillhole mineralized intercepts reported in this news release.
Reported grades are calculated as down-hole length weighted averages. A 0.1% Cu lower cut-off grade is
applied. Intercepts are downhole intervals.
Significant REE Mineralized Intervals (0.2% TREO cut-off)
Prospect Hole Number From (m) To (m) Interval (m) TREO (%)
South Darwin
SDD007 114.0 116.0 2.0 0.88
and 237.0 248.0 11.0 0.49
and 389.0 439.0 50.0 0.51
including 418.0 430.0 12.0 0.90
South Darwin
SDD008 0.0 60.0 60.0 0.21
and 111.0 128.0 17.0 0.23
and 331.0 374.0 44.0 0.26
Table 2: South Darwin prospect significant drillhole total rare earth element (REE) mineralized intercepts
reported in this news release. Reported grades are calculated as down- hole length weighted averages. A
0.2% TREO lower cut-off grade is applied. Intercepts are downhole intervals.