CopperEx Commences Follow Up Surface Program in Advance of Phase II Drilling Program
CopperEx Commences Follow Up Surface
Program in Advance of Phase II Drilling
Program
Vancouver, British Columbia--(Newsfile Corp. - June 21, 2024) - CopperEx Resources Corp. (TSXV:
CUEX) (the "Company" or "CopperEx") today announced the commencement of a focused geological
field exploration program in preparation for Phase II Drilling on the ADLP and Sopresa Targets at the
Company's flagship Exploradora Norte Project, Northern Chile.
CopperEx plans to execute a three-week field work program with the exploration team having already
mobilized on-site and commencing work on June 08, 2024. The field work program is designed to focus
on infill areas and extensions in both the north and south directions on the ADLP Target, and infill areas
and extension to the north on the Sorpresa Target. With the excavator now remobilized to site, the
program is envisaged to include a total of approximately 12 additional trenches, adding to the four
trenches excavated during the recently completed and published Phase I drill program. The inaugural drill
program demonstrated robust gold grades including the following highlights:
114.00 meters of 0.95 g/t Gold from 4.00-118.00 meters in RC hole A-RC-02 including:
70.00 meters of 1.27 g/t Gold (22.00-92.00 meters)
And 28.00 meters of 1.63 g/t Gold (46.00-74.00 meters)
And 12.00 meters of 2.45 g/t Gold (62.00-74.00 meters)
58.00 meters of 0.74 g/t Gold from 68-126 meters in RC hole S-RC-01 including:
54.00 meters of 0.78 g/t Gold (72.00-126.00 meters)
And 30.00 meters of 1.03 g/t Gold (72.00-102.00 meters)
And 12.00 meters of 0.89 g/t Gold (114.00-126.00 meters)
85.00 meters of 0.42 g/t Gold from 76.00-161.00 meters in RC hole S-RC-02 including
:
34.00 meters of 0.96 g/t Gold (76.00-110.00 meters)
And 14.00 meters of 1.81 g/t Gold (88.00-102.00 meters)
For a complete list of drill intercepts from the inaugural drill program, see the Company's
press release
dated
May 30
th
, 2024
.
Once laboratory results have been received, the Phase II drill program design will be finalized, whereby
the preliminary quotation process for drilling has commenced based upon a forecast range of meters to
drill.
CopperEx expects to commence drilling Phase II in less than four months, with follow up drilling on the
exceptional results of the recently completed and published inaugural drill program.
The ADLP and Sopresa Targets are located within the
Franja del Oro
area, part of an approximately
15-kilometer-long gold enrichment zone located in the northwestern part of the 23 by 13-kilometer
(20,800 hectare) Exploradora Norte Project.
Highlights:
CopperEx has commenced a focused geological field exploration program in preparation for
Phase II Drilling on the ADLP and Sopresa Targets.
The focused geological field exploration program is expected to be complete within three weeks
and amongst other works will consist of approximately 12 additional trenches.
Once laboratory results are in hand, CopperEx will finalize the Phase II drill program, focusing on
the ADLP and Sopresa Targets.
Phase II drilling is expected to commence in less than four months.
Dave Prins, President & CEO of CopperEx
stated, "
Based upon the excellent results of the recently
published Phase I drill campaign, which demonstrated the robust gold grades and continuity at ADLP
and importantly demonstrates that the newly identified surface gold mineralization at Sorpresa
extends to depth and along strike, we are confident that the Phase II drill program will further expand
on these results and the targets. We look forward to delivering the results from the Phase II drill
campaign in a very timely manner, as was clearly accomplished on Phase I drilling."
John Robins, Technical Advisor to CopperEx
stated
, "I am excited as we begin preparations for
our Phase II exploration program on the Sopresa and ADLP targets. The results from the Phase I
program demonstrate the potential for a large oxide gold deposit, in addition to the project's copper
potential."
Overall Exploradora Norte and Franja del Oro Plan
Figure 1: Exploradora Norte - Property map including key target areas and surface and trench
rock geochemistry
2
.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10257/213784_ae55570364db7bc0_002full.jpg
Qualified Person
All scientific and technical information in this news release has been approved by Daniel MacNeil,
PGeo, Technical Advisor to the Company. Mr. MacNeil is a qualified person for the purposes of NI 43-
101.
Additional information about CopperEx and its Projects can be found on the Company's website at
copperexcorp.com
, or email
.
Please
click here
to subscribe for future CopperEx news.
On behalf of the Board of Directors
CopperEx Resources Corp.
Dave Prins
President & CEO
For further information contact:
+1 (604) 646-4527
About CopperEx Resources Corp.
CopperEx is a copper and gold focused exploration company with three porphyry and porphyry related
gold and copper projects located in Chile and Peru in established mineral belts near producing mines.
The Company's Flagship Property, Exploradora Norte, located in Northern Chile, has multiple high
quality drill ready targets. At
Exploradora Norte,
CopperEx has the option to earn 65% and a Preferred
Option for an additional 35% with no attached royalty.
CopperEx has an Option Agreement for the 20,800-hectare Exploradora Norte property, to earn a 65%
ownership interest, with a preferred option to earn an additional 35%. The property is located along the
prolific West Fissure fault system in northern Chile, north of El Salvador and south of Escondida at 3,400
meters above sea level in the Chilean pre-cordillera. The property has a year-round operating climate
with good access.
In addition to the Exploradora Norte property, CopperEx owns 100% of its
Kio Buggy
(Northern Chile)
and
La Rica
(Apurimac province Peru) properties, also with no attached royalties. The CopperEx
Exploradora Norte property is immediately adjacent (to the north and east) of
Codelco's
Exploradora
property which hosts a resource estimated by Codelco to contain 190-280 Mt @ 0.40% Cu.
(1,2)
The Company's priority is to advance exploration of the Franja del Oro Target at Exploradora Norte
which includes the Sorpresa and Agua de la Piedra (ADLP) Targets, and the surrounding favorable host
rocks which remain significantly underexplored.
Exploradora Norte Advanced Exploration Targets.
The
Franja del Oro
Area
contains sediment and volcanics hosted gold mineralization with
associated replacement textures and alteration consistent with epithermal gold deposits that form
distal to a porphyry copper-gold system. The Franja del Oro area hosts multiple parallel, north
trending stratigraphically and structurally controlled mineralized zones.
CopperEx has conducted
extensive exploration along 4-kilometer-long north-south trending segments of the high priority
Sorpresa and Agua de la Piedra ("ADLP") Targets to assess surface gold grades, continuity
(along strike) and to define individual drill targets.
CopperEx has identified gold mineralization over
approximately 7 kilometers along the ADLP system (surface rock geochemical results). CopperEx
leveraged the strong correlation between gold and arsenic to expand the geochemical footprint of
the Franja del Oro area using Portable XRF technology to approximately 15 kilometers (and
remains open).
Peuco - Porphyry Copper Gold
Target
: Geochemical and geophysical anomalies spatially
associated with tourmaline breccia bodies. Breccias consist of potassically altered porphyry clasts
in quartz-tourmaline matrix associated with peripheral polymetallic veins and skarn alteration.
Florencia Copper Gold
Target
- Centered on a NW-SE trending structural corridor extending to
the Exploradora porphyry Cu deposit (Codelco) ~5 km to the NW. IP Geophysical features
(resistivity and chargeability) suggest the potential for porphyry style copper-gold mineralization at
depth. Epithermal style quartz veins and breccia, alteration, and geochemical anomalism exist at
surface.
Strategic Alliances.
CopperEx is a member of Discovery Group based in Vancouver, Canada. For more information please
visit:
discoverygroup.ca
.
Cautionary Note.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Notes
(1)
Source:
www.codelco.com/prontus_codelco/site/docs/20220808/20220808110240/fexmin_brochure.pdf
(2)
Note: The deposits and projects shown or mentioned which fall outside of the CopperEx land position provide geologic context for the
CopperEx's Property, but this is not necessarily indicative that the Property hosts similar grades or tonnages of mineralization.
Forward-Looking Information.
Forward-Looking Statement (Safe Harbor Statement): This press release contains forward looking
statements within the meaning of applicable securities laws. The use of any of the words "anticipate",
"plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict",
"potential" and similar expressions are intended to identify forward looking statements. In particular,
this press release contains forward looking statements concerning the Company's exploration plans.
Although the Company believes that the expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be placed on the forward-looking
statements because the Company cannot give any assurance that they will prove correct. Since
forward looking statements address future events and conditions, they involve inherent assumptions,
risks, and uncertainties. Actual results could differ materially from those currently anticipated due to a
number of assumptions, factors, and risks. These assumptions and risks include, but are not limited
to, assumptions and risks associated with conditions in the equity financing markets, and
assumptions and risks regarding receipt of regulatory and shareholder approvals.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/213784