CopperBank Continues to Intercept Broad Intervals of Significant Copper Mineralization at Pyramid
CSE: CBK FSE: 9CP OTC: CPPKF
FOR IMMEDIATE RELEASE October 30, 2017
(CBK 2017 – NR #19)
CopperBank Continues to Intercept Broad Intervals of Significant Copper Mineralization at Pyramid
Vancouver, Canada - October 30, 2017 - CopperBank Resources Corp. (“CopperBank” or the “Company”)
(CSE:CBK) is pleased to report results from the fifth and sixth holes from its thirteen diamond drill hole
(DDH) summer 2017 program on its 100% controlled Pyramid Copper Project in Alaska. Highlights include:
• DDH 17PY035 intersected a total of 251 meters at a weighted average grade of 0.41% copper
over two intervals; a near surface intercept of 137 meters of 0.45% copper (0.60% CuEq),
and a second interval of 114 meters of 0.37 % copper (0.45% CuEq).
• DDH 17PY036 intersected 179.5 meters of 0.37% copper (0.52 % CuEq), confirming the con-
tinuity and width of the North Zone.
• As previously observed, no deleterious chemical elements such as arsenic, antimony or se-
lenium are present in significant levels.
The 2017 drilling program, comprising 3,690 meters in thirteen diamond drill holes, was designed to verify
the extensions of known mineralization within the deposit and to validate the existing block model estab-
lished by the historical resource estimate (SRK, June 2013). Detailed maps and cross sections can be found
here. Previous diamond drill holes were reported in press releases dated October 5 and 23, 2017.
CopperBank Executive Chairman, Gianni Kovacevic, commented: “We’re very pleased with the ongoing
drilling success at Pyramid, as we continue to intersect broad intervals of copper mineralization. Im-
portantly, numerous high-grade intercepts received to date from the 2017 program fall outside of the
historical resource envelope, which should help further our goal of expanding upon the historic resource
estimate at Pyramid. Six holes have now been reported, representing phase one of our 2017 drilling pro-
gram, and we look forward to reporting the results of our final seven holes that test open areas in the
Central and West Zones in due course.”
Drill Hole 17PY035
Located in the Main Zone, DDH 17PY035 was drilled to a depth of 349.9 meters and confirmed the exist-
ence of significant copper mineralization associated with the main quartz diorite porphyry intrusion as
reported in DDH 11PY016 located 108 meters to the West. Two significant intervals of mineralization were
intersected, separated by a 26 meter fault zone of clay altered quartz diorite porphyry. Mineralization is
dominantly chalcopyrite with chalcocite, disseminated throughout the stratigraphic sequence. Detailed
results are included in the table below. The results from 17PY035 and previously reported drill holes con-
firm a minimum length of 800 meters for the Main Zone. Significant amounts of high grade mineralization
intersected to date in 2017 falls outside the envelope of the historical resource model.
From (m) To (m) Width (m) Cu (%) Mo (%) Au (g/t) CuEq (%)
42 179 137 0.45 0.02 0.15 0.60
205 319 114 0..37 0.01 0.08 0.45
Note: The copper equivalent (CuEq) values in all tables in this press release were calculated
based on estimated prices of US$2.75/lb of copper, US$1200/oz of gold and US$7.25/lb of
molybdenum. No metallurgical tests were done. Metal recovery is unknown and was not
taken into account. True width of intervals is yet to be defined.
Drill Hole 17PY036
Located in the North Zone between historical holes DDH 11PY004 and 10PY001, DDH 17PY036 was drilled
to a depth of 250.85 meters. Hornfels intruded by several porphyry dykes hosts chalcopyrite and chalco-
cite disseminations and composes the mineralized interval. The weighted average grade of the interval
returns 0.37% Cu over 179.5 meters. The drill hole bottomed in a quartz biotite magnetic diorite.
From (m) To (m) Width (m) Cu (%) Mo (%) Au (g/t) CuEq (%)
22.5 202 179.5 0.37 0.03 0.12 0.52
including
35 51 16 0.50 0.06 0.14 0.73
Quality Control
All core samples collected during the 2017 drilling program are pulverized at the ALS Fairbanks facilities
then pulps are sent to ALS Minerals Laboratories in Reno, NV. All pulps are analyzed by a 4 acid multi-
element analysis for 61 elements by ICP-AES method and assayed for Au by standard atomic absorption
spectrometry (Au-AA23) following the fusion by fire-assay of a 30 gram sample. Samples returning copper
values higher than 1% are re-analyzed in Vancouver by ICP-AES following a four-acid digestion and those
exceeding 1 g/t gold by gravimetric finish (Au-GRA21). Standards, blanks and duplicates were inserted
every 20 samples consistent with industry best practices then revised by a qualified person using a Quality
Assurance/Quality Control program before calculating the intervals. A series of samples from hole 17PY-
035 were sent back for verification following the detection of a possible contamination. The new analyses
were used for the calculation of the mineralized intervals reported in this release.
About Pyramid
The Pyramid project is located on private property with the subsurface controlled by The Aleut Corpora-
tion, an Alaska Native-owned corporation. Pyramid is a porphyry copper deposit containing a historical
inferred mineral resource estimate of 122 million tonnes at 0.41% copper, 0.02% molybdenum, and 0.10
g/t gold (SRK, 2013) applying a 0.4% copper equivalent cut-off, divided into three main recognized zones:
Main, North and West. The mineralization is related to a multi-phased calk-alkaline intrusion, intruding
sediments of Tertiary Age. The porphyry system is of a minimal extent of 1.5 square kilometres, displays
a leached cap, phyllic, propyllitic and potassic alteration analogous to the other copper deposits of the
circum-Pacific Belt. The observed mineralization consists mainly in disseminations of chalcocite, chalco-
pyrite and local molybdenite and sulphide veinlets. Bornite, malachite and chrysocolla are also reported
as accessory minerals.
This press release was prepared by Brigitte Dejou, P.Eng and a Qualified Person as defined by NI 43-101.
For more information on CopperBank Resources visit our website at www.copperbankcorp.com.
Contact Gianni Kovacevic, President and Executive Chairman of CopperBank, at:
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: [email protected]
Website: www.copperbankcorp.com
CopperBank is a Canadian exploration mining company focused on energy related metal exploration in
the United States of America.
The Company trades on the Canadian Securities Exchange – CSE under the symbol “CBK”.
Advisory Regarding Forward-Looking Statements
Certain information in this release constitutes forward looking statements or information (“forward-looking statements”) under
applicable securities laws and necessarily involves risks and uncertainties. Forward-looking statements included herein are made
as of the date of this news release and, except as required by applicable law, CopperBank does not undertake any obligation to
update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The
forward-looking statements contained in this document are expressly qualified by this cautionary statement. Forward-looking
statements relate to future events or future performance and reflect management of CopperBank’s expectations or beliefs re-
garding future events. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, or
“believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”,
“might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. Examples of
forward-looking statements in this news release include, but are not limited to, statements with respect to the Company’s ongoing
review of its existing portfolio, the involvement of CopperBank in any potential divestiture, spin-out, partnership or other transac-
tions involving the Company’s portfolio assets, and the ability of the Company to complete any such transactions, the ability of
CopperBank to enter into transactions that will ultimately enhance shareholder value, and potential future work or activities in
respect of the Pyramid project or the Contact project. Although CopperBank believes that the expectations reflected in the for-
ward-looking statements are reasonable, forward-looking statements have been based on factors and assumptions concerning
future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information
available to CopperBank. Forward-looking statements are based, in part, on assumptions and factors that may change or prove
to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or im-
plied by forward-looking information. Such factors and assumptions include, but are not limited to, the Company’s ability to iden-
tify and complete one or more transactions involving the Company’s portfolio assets that enhance shareholder value as part of
management’s ongoing review of strategic alternatives in the current market conditions. By their very nature, forward-looking
statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance
or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-
looking statements. Such factors include, but are not limited to, the risk that the Company will not be able to identify and complete
one or more transactions involving the Company’s portfolio assets that enhance shareholder value as part of management’s on-
going review of strategic alternatives in the current market conditions. Although CopperBank has attempted to identify important
factors that could cause actual actions, events or results to differ materially from forward-looking statements, there may be other
factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those antic-
ipated by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
For more information on CopperBank and the risks and challenges of its businesses, investors should review the continuous dis-
closure filings that are available under CopperBank’s profile at www.sedar.com.