Massive Sulfide Mineralization Traced over 9 Kilometres
MASSIVE SULFIDE MINERALIZATION TRACED OVER 9 KILOMETRES
Toronto, Ontario – October 1, 2024
IC Capitalight Corp. ("Capitalight" or the “Company”) (Canadian Securities
Exchange: IC) announces closing and demobilization of its summer exploration camp. 646
chip/ grab samples are in transit for assay. Prior to the receipt of assays, expected in late October,
and the interpretation of the gravity geophysical data from the Blue Lake adit area, the company
wishes to fully inform shareholders about the magnitude of our new discovery.
DISCOVERY MINERALIZATION ZONE 9 KILOMETRES LONG
On 16 September our survey teams explored a set of airborne VTEM conductors first noted by
Anglo American during an aerial survey conducted in 2011. Using beep mats to identify
conductive zones, the teams unearthed and sampled massive sulphide mineralization outcrops
under one foot of vegetation and soil with abundant visible chalcopyrite. Chalcopyrite is our
prime target mineralization that contains copper.
Over one week, three teams traced the discovery zone over a strike length of 9 kilometres.
This is an entirely new discovery and, though early stage, its potential economic
significance cannot be understated.
This entire zone has been named ‘Cancun’ because it sits at the southern end of Capitalight’s
exploration claims. 17 additional claim blocks have now been staked south of the Cancun zone,
bringing our claims to 1,010 blocks. Figure 1 shows the trace of the Cancun zone in red.
Figure 2 is a photo of mineralized grab samples from the Cancun Zone.
HINGE OF THE CANCUN ZONE
The Cancun Zone is bent around the outside of a large fold. On 27 September the teams found
another new semi-massive to massive sulphides zone with chalcopyrite on a separate VTEM
conductor occupying the axial plane of the fold. They were able to extend it for 150 metres
before camp closed, Figure 3 below shows sample from this location.
ALL 2024 TARGET AREAS WERE VISITED
Discovery of Cancun Zone was a dramatic success late in the camp season. Equally prospective
field grab samples were taken 15 kilometres away from Cancun Zone in the Blue Lake area
during August. Prospective field samples were also taken 30 kilometers away in the northern
fold during September. Such samples confirm and expand the historical records. Figure 4 depicts
Capitalight’s current claim blocks.
CEO COMMENT
Regarding the close of the summer 2024 exploration program, Capitalight CEO Brian Bosse
said “2024 season has become a success in every possible measure. Everything we hoped to find
to confirm a massive copper mineralization system exists was found. For weeks we were very
impressed with visible copper mineralization noted in the host middle sill, throughout the claims.
The Cancun Zone discovery was the home run and will be a massive game changer. I want to
thank each member of the team and specifically call out Douglas MacQuarrie for his exploration
guidance. Our next step is to compile all the results and plan for a much expanded 2025
program.”
About Capitalight
IC Capitalight Corp. provides shareholders with long-term capital growth exposure by investing in mineral
exploration properties and other assets. The Company is listed on the CSE under the symbol “IC". To learn more
about the Company please visit http://www.capitalight.co
Scientific and technical information contained in this news release has been reviewed and approved by Douglas R.
MacQuarrie, BSc Combined Honours Geology & Geophysics, UBC, AUSIMM, Director, who is a "qualified
person" under NI 43-101.
Brian Bosse
Director and Chief Executive Officer
IC Capitalight Corp.
+14168445712
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