Copper Road Resources Significantly Expands the “JR Zone” of near-surface Cu-Mo Porphyry and Cu- Au Breccia Mineralization.
Copper Road Resources Significantly Expands the “JR Zone” of near-surface Cu-Mo Porphyry and Cu-
Au Breccia Mineralization.
TORONTO, April 17, 2023: Copper Road Resources Inc. (TSXV: CRD) (“Copper Road” or the “Company”)
announces the validation and expansion of the JR Zone (“JR Zone”) copper-molybdenum porphyry and
copper-gold breccia pipe targets at its 21,000-hectare project, Batchewana Bay Ontario.
The JR Zone, comprising the Jogran Porphyry and nearby Richards Breccia, is located approximately 12
km from the former Tribag Mine Zone which the Company drilled in 2022 (see press release October 13,
2022.) The Company plans to expand surface exploration and drill test the JR Zone in 2023 to establish a
second large scale near-surface mineralized zone at the Copper Road Project. The Company is excited to
be in a unique position to unlock value for shareholders by continuing to advance both the Tribag and JR
Zones at its potentially district-scale copper project.
Due to fragmented claim ownership and regional staking closures, the JR Zone has seen limited diamond
drilling into these near-surface porphyry and breccia-hosted Cu-Mo-Au-Ag targets. Historical
exploration at the Richards Breccia and Jogran Porphyry by Jogran Mines (1964), Phelps Dodge (1966),
Duration Mines (1988), and Aurogin Resources (1997) encountered relatively broad near-surface
intersections of copper mineralization that is untested below 150 m in the porphyry, and untested
below 75 m in the breccia.
The Company completed three reconnaissance Mobile Metal Ion (“MMI”) soil sample lines over the JR
Zone to evaluate the potential for an expanded footprint of the mineralized system(s) in areas outside of
known mineralization. Significant Cu and Mo values in the soil samples demonstrate possible porphyry
and/or breccia-style mineralization along strike between the Richards and Jogran targets (located 900 m
apart on a NE-SW trend), and to the southeast of Richards, expanding the JR target zone to 1.5 km by
550 m.
Figure 1: Copper Road Project
Figure 2: JR Zone Long Section
MMI Soil Survey Results
The Company recently received results from its fall 2022 exploration program which collected 11
reconnaissance MMI soil sample lines over eight historical and newly defined exploration targets within
its’ 21,000-hectare project. The JR Zone contained strongly anomalous sample results in an area which
hosts drill-indicated porphyry-style Cu-Mo(±W-Ag-Au) mineralization in the Jogran intrusive and host
basalts, and drill-indicated higher-grade Cu-Au-Ag breccia-style mineralization (similar to the Tribag
Mine) at the Richards occurrence.
Three reconnaissance MMI soils lines were completed, including one long line (2.2 km) along the
presumed strike trend of the mineralization, and two “wing” lines, one each dire ctly over the Jorgran
Porphyry (1.2 km) and the Richards Breccia (1.1 km) , see Figures 3 and 4. All lines returned strongly
anomalous Cu, Mo, W, Ag and local ized Au over the known occurrences ( confirming limited drilling and
trenching) but also extending the anomalies for hundreds of metres in most directions in both Cu and Mo
(anomaly J1), and discovering new Cu anomalies . (J2, and R 2 to R4.). This indicates the potential for a
much larger footprint of the known mineralization, which at this point (with only 3 reconnaissance lines)
is as much as 1.5 km along strike and up to 550 m wide (open). Anomalous W and Ag form a broad halo
over the whole system, with local Au strongest at Jogran (J1) and new Target R4.
Besides responding to the know mineralization , the expanded anomalies around the JR Zone are equal in
strength to those reported by He berlein (2010) from MMI test lines completed over the Mount Millig an
and Kwanika al kalic porphyry Cu-Au-Ag±Mo deposits in British Columbia, so the Compa ny is reasonably
confident that the MMI anomalies at Jogran and Richards represent valid potential concentrations of
metals at shallow depth beneath the thick overburden cover (2 to 15 + metres) that is common in t he
project area.
Figure 3: Copper MMI Results
Figure 4: Molybdenum MMI Results
Ongoing Historical Data Compilation and Historical Drill Results
The company is currently finishing the compilation of all historical exploration data, including drill holes
in the area of the MMI anomalies, after a full review of all drill logs, the initial indications are that all holes
proximal to or within the MMI anomalies intercepted widespread and consistent Cu±Mo mineralization.
The core was subject to minimal sampling. (e.g., on average only 7.6% of the Phelps-Dodge drill core was
sampled and assayed). The Company believes this was due to historical copper exploration in the 1960’s-
1980’s being focused on sourcing copper grades above 1 %, additionally, in the 1990’s, the operator was
reportedly focussed strongly on gold, so that copper mineralization was not considered significant.
Overall, but especially in the 1960’s, assays for Au, Ag, Mo and W were rarely performed, so the value of
these potential by -product credits may increase copper equivalent grades (“ CuEq.”) significantly. For
example, the average grade (historical in nature and not 43-101 compliant) of the main holes drilled into
the Jogran porphyry in the 1960’s averaged 0.2% Cu and 0. 032% Mo, which at todays’ current LME spot
metal prices ( 4.01 US$/lb Cu and 21.50 US$/lb Mo) represent a CuEq grade of 0.37% (assuming 100%
recovery and using the formula CuEq % = % Cu + (% Mo x 5.36).
As part of the compilation, a small Gradient IP survey completed in 1997 by former operator Aurogin
Resources over the Richards Breccia was digitized. The survey delineates two distinct ovoid chargeability
anomalies (with corresponding resistivity lows) , one of which underlies the known mineralization at
Richards Breccia (Figure 4), and a possibly larger and stronger anomaly (approximately 145 x 260 m, open
to the NW) , complete ly untested, located approximately 250 m NW of the Richards trench. The
subsurface below the trench was subsequently tested by three drill holes (AR98-07: 27 m @ 1.46% Cu,
0.17 g/t Au, 3.8 g/t Ag, AR97 -25: 40 m @ 0.86% Cu, 0.06 g/t Au, 3.5 g/t Ag, AR97 -24, 13.7 m @ 0.64%
Cu, 0.06 g/t Au) that are located at the north edge of the second chargeability high (approximately 190 m
wide) that extends SE for 130 m before trending off the survey grid . A third chargeability high is located
at the east end of the grid but is so far only a two-station response on the south-most line and remains to
be fully delineated.
Figure 5: JR Zone Gradient IP Chargeability – 1997
Copper Road Resources President/CEO John Timmons comments “The validation and expansion of the JR
Zone confirms the potential of these near-surface Cu-Mo-Au-Ag zones which have seen limited modern
systematic exploration and diamond drilling. The Company is planning further exploration and drilling in
2023 to develop and de -risk the JR Zone targets , as well as expanding regional exploration to further
enhance additional mineralized porphyry and breccia targets that have been identified through historical
data compilation over this large project area . This includes the results of additional MMI reconnaissance
lines that were sampled in 2022, currently being evaluated, that will be released in our next update in a
few weeks.”
Qualified Person
Mr. Augusto Flore s 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.
For further information, please contact:
Mr. John Timmons
President/CEO and Director
Copper Road Resources Inc.
Cellular (416) 931 2243
Email: [email protected]
Web: www.copperroad.ca
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/gold deposits on the 21,000 -hectare Batchewana Bay Project 80 km. north of Sault St. Marie,
Ontario, Canada.
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
management 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 actual 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 Road 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 approv als,
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
estimates 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.