Copper Road Resources Commences Summer 2023 Diamond Drilling Program in Batchewana Bay, Ontario
Copper Road Resources Commences Summer 2023 Diamond Drilling
Program in Batchewana Bay, Ontario
TORONTO, ONTARIO, August 21, 2023 - Copper Road Resources Inc. (TSXV: CRD) (“Copper Road” or the
“Company”) is pleased to announce that the 2023 drill program has commenced at the highly-
prospective JR Zone at its Copper Road Project in Batchewana Bay, Ontario. The current drill campaign
is designed to demonstrate that the JR Zone hosts a shallow mineralized porphyry and high -grade
breccia in the centre of the Company’s district-scale land package that hosts two past-producing copper
mines.
The JR Zone, comprising the Jogran Porphyry and nearby Richards Breccia (see Figure 1), is located
approximately 12 km from the former Tribag Mine Zone which the Company drilled in 2022 (see press
release dated October 13, 2022). Copper Road has previously completed Mobile Metal Ion (“MMI”) soil
sampling and digitization of historical geophy sical surveys at the JR Zone (Jogran -Richards) and has
determined the 1.5km x 800m area is prospective for the discovery of additional copper mineralization
(see Figure 2).
Figure 1. JR Zone MM Lines and Proposed DDHs
Figure 2. JR Zone Long Section
The 2023 summer diamond drilling program , totalling 1,000 metres, is the first step in proving the JR
Zone as a large-scale zone of economic copper mineralization at shallow depths.
John Timmons, President & CEO of Copper Road, comments:
“We are excited about the prospect of identifying an additional large-scale near -surface zone of
Cu/Mo/Ag/Au mineralization in the heart of our 21,000-hectare project . Jurisdiction is becoming
increasingly important in the modern quest for critical minerals , and our district -scale property in Sault
St. Marie, 20 km from the TransCanada Highway, checks all the boxes.
There have been very few new shallow copper discoveries in Tier-1 jurisdictions in the past decade. Given
the potential large scale of the JR Zone, Copper Road is poised to unlock significant value for
shareholders, and we look forward to the results from the summer program.”
The Company is currently drilling the following priority targets at the JR Zone:
• J-P-23-01: the hole will test the Jogran porphyry at depth proximal to historical DDHs from 1964:
JDH-13 (5 to 152 m: 147 m @ 0.27% Cu, 0.068% MoS2, 0.53% Cu Eq) and JDH-16 (5 to 170 m: 165m
@ 0.23% Cu, 0.054% MoS2, 0.43% Cu Eq), neither of which were assayed for potential by-product
metals (e.g. Au, Ag, Re, W). The hole will be designed to test the porphyry mineralization to a
vertical depth of 400 m which is approximately twice the extent of known mineralization.
• R-P-23-01: the hole will test the ex tension of the historic high -grade intercepts in the Richards
Breccia by stepping out approximately 50 m to the west of AR9 8-07 (27 m @ 1.46% Cu, 0.17 g/t
Au, 3.8 g/t Ag) at a vertical depth of approximately 50 m. The Company interprets the high-grade
mineralization to follow the perimeter of the breccia pipe similar to the Breton Breccia, Tribag
Mine Zone. This is supported by the semi-circular geometry of the Gradient IP anomaly associated
with the Richards Breccia (see Figure 3).
Figure 3. JR Zone Gradient IP
Additional drill holes (see Figures 1 & 3) have been engineered to follow-up on the new targets, such as
the J2 “Roof Zone” and the Richards NW chargeability anomaly , as well as follow-up on visual results of
mineralization in the f irst two proposed holes (J -P-23-01 and R-P-23-01) with step-outs.
Note: Assumptions used in USD for the copper equivalent calculation were metal prices of $3. 60/lb Copper,
$52.00/kg Molybdenum, and recovery is assumed to be 100% as no metallurgical test data is available. The
following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Molybdenum (%) x 6. 551898)
(Mo% = MoS 2 x 0.6).
Qualified Person
Mr. Augusto Flores IV, P.Geo. , a qualified person for the purposes of National Instrument 43 -101, has
reviewed and approved the technical disclosure contained in this news release.
About Copper Road Resources
Copper Road Resources Inc. is a Canadian -based explorer engaged in the acquisition, exploration and
evaluation of properties for the mining of precious and base metals. The Company is exploring for large
copper dominant polymetallic deposits on the 21,000 -hectare Batchewana Bay Project, 80 km north of
Sault St. Marie, Ontario, Canada.
For further information, please contact:
John Timmons
President, CEO and Director
Cellular: (416) 931-2243
Email: [email protected]
Web: www.copperroad.ca
Caution Regarding Forward-Looking Information
This news release contains forward -looking information that involves substantial known and unknown
risks and uncertainties, most of which are beyond the control of Copper Road. Forward-looking statements
include estimates and statements that describe Copper Road Resource’s future plans, objectives or goals,
including words to the effect that Copper Road Resources or its managemen t expects a stated condition
or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”,
“expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward -looking statements are
based on assumptions and address future events and conditions, by their very nature they involve inherent
risks and uncertainties. Although these statements are based on information currently available to Copper
Road Resources, the Company provides no assurance that ac tual results will meet management’s
expectations. Risks, uncertainties and other factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to differ materially from those expressed
or implied by such forward-looking information. Forward looking information in this news release includes,
but is not limited to, the Company’s objectives, goals or future plans, statements, details of the exploration
results, potential mineralization, Copper Ro ad Resource’s treasury, management team and enhanced
capital markets profile, the estimation of mineral resources, exploration and mine development plans,
timing of the commencement of operations and estimates of market conditions.
Factors that could cause actual results to differ materially from such forward-looking information include,
but are not limited to, failure or inability to complete the Offering on disclosed terms or at all, regulatory
approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain required
governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the
duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability
and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange
rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs
varying significantly from estimate s and the other risks involved in the mineral exploration and
development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although
the Company believes that the assumptions and factors used in preparing the forward-looking information
in this news release are reasonable, undue reliance should not be placed on such information, which only
applies as of the date of this news release, and no assurance can be given that such events will occur in
the disclosed time frames or at all. Copper Road Resources disclaims any intention or obligation to update
or revise any forward -looking information, whether as a result of new information, future events or
otherwise, other than as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news release.