Carolina Rush Reports Maiden Mineral Resource Estimate for Brewer Gold-Copper Project, South Carolina, USA
Carolina Rush Reports Maiden Mineral
Resource Estimate for Brewer Gold-Copper
Project, South Carolina, USA
Toronto, Ontario--(Newsfile Corp. - March 20, 2025) - Carolina Rush Corporation (TSXV: RUSH)
(OTCQB: PUCCF) ("Carolina Rush," "Rush" or the "Company") is pleased to provide the results of its
maiden Mineral Resource Estimate ("MRE") for the Brewer Gold-Copper Project in Chesterfield County,
South Carolina, USA.
Highlights:
Brewer In Situ Mineral Resource:
Indicated:
202,000 oz Au and 16.8Mlbs Cu within 6.0Mt @ 1.04 g/t Au and 0.13% Cu
Inferred:
210,000 oz Au and 7.9Mlbs Cu within 7.8Mt @ 0.84 g/t Au and 0.06% Cu
Brewer Backfill Mineral Resource:
Inferred:
139,000 oz Au and 9.7Mlbs Cu within 11.9Mt @ 0.36 g/t Au and 0.03% Cu
Open for Expansion:
the Brewer mineral resource remains open for potential expansion in
several directions
Rush President and CEO Layton Croft stated: "The release of our maiden Mineral Resource Estimate at
Brewer is a key milestone. It quantifies our work to date and reinforces the scale potential of this large,
underexplored gold-copper system. The resource remains open for expansion, particularly at depth,
where our exploration model suggests potential for a deeper mineralized deposit. To further understand
and unlock Brewer's potential, we will soon complete a deep-sensing geophysical survey designed to
map subsurface lithology and identify key geological structures that may control mineralization. Based on
that, we intend to conduct a deep drill program to test for copper porphyry mineralization."
Brewer In Situ Mineral Resource Estimate
The Brewer maiden mineral resource estimate was prepared under National Instrument 43-101 ("NI 43-
101") standards by Independent and Qualified Person (QP), Patrick J. Hollenbeck.
The Mineral
Resource Estimate (Table 1) was constructed using all available drilling information available for the
Brewer project, including Carolina Rush core drilling (n = 36); Carolina Rush rotary airblast drilling (n =
194); Historical drilling (n = 1,020); and Historical production blastholes (n = 49,926).
The Brewer
Mineral Resources are reported at a 0.5 g/t Au cutoff considered for "reasonable economic extraction"
and were calculated using a 3-year gold price (Jan. 2022 – Dec. 2024) of US$2,045/oz and an assumed
all-in mining and processing cost of US$33/tonne.
Table 1.
Brewer In Situ Mineral Resource Statement (0.5 g/t Au cutoff)
Average Value
Material Content
I&I
Mass
Au
Cu
Au
Cu
thousand tonnes
g/t
ppm
thousand oz
thousand lbs.
Indicated
6,022
1.04
1,266
202
16,811
Inferred
7,805
0.84
460
210
7,908
Differences may occur in totals due to rounding.
(1)
Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability.
(2)
The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or
other relevant issues.
(3)
The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must
not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an
Indicated Mineral Resource with continued exploration.
(4)
The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on
Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the
CIM Council.
(5)
A NI 43-101 Technical Report supporting the Maiden Mineral Resource Estimate will be filed on SEDAR+ at
www.sedarplus.ca
within 45
days of this news release.
Investors are encouraged to review the full report, which will provide further details on key assumptions,
parameters, and risks associated with the Mineral Resource Estimate.
Brewer In Situ Mineral Resource Estimate Methodology
Domain Modeling:
A mineralized envelope was constructed from 6-meter drill hole composites of
the Carolina Rush and Historical drilling samples using Leapfrog Geo's "Indicator Shell"
functionality.
A 0.25 g/t Au cutoff was derived from histogram population analysis and was used to
construct the mineralized envelope.
Drillhole intersecting the mineralized envelope were then
composited to 3-meter intervals for grade estimations.
Block Model Construction:
The block model was constructed from regular 9m x 9m x 3m blocks
using the EDGE estimation tools in Leapfrog Geo software.
Bulk Density:
A density of 2.92 g/cm3 was assigned to mineralized blocks while a density of 2.84
g/cm3 was used for the surrounding material.
Densities were assigned based on 731 specific
gravity measurements of drill core made by Carolina Rush personnel.
Interpolation and Search Parameters:
Two estimation methods were utilized to generate the
Brewer resource; Inverse Distance Squared (ID2), and nearest neighbor (NN).
The ID2 estimators
are the basis for the resource report, while the NN estimations served as a validation check for the
ID2 estimations.
Variable anisotropy was used to drive the mineralized envelope and ID2
estimators, intended to capture the curved nature of the central portion of the deposit along with the
more planar nature of the southern Tanyard Breccia zone.
Model Validation:
The block model was validated with a detailed visual comparison of the blocks
and drillholes together in vertical and plan view sections (Figure 1).
Swath plots along the X, Y, and
Z axes of the block model were also utilized for statistically validating the block model.
Grade Sensitivity Analysis:
The gold cutoff grade selected for the Brewer deposit can have
significant implications for the total resource reported.
A tabulated breakdown of grades and
tonnes at a given cutoff grade are provided in table 2.
Table 2.
Brewer In Situ Mineral Resource Grade Sensitivity Analysis
Average Value
Material Content
Cutoff
Mass
Au
Cu
Au
Cu
Au g/t
thousand tonnes
g/t
ppm
thousand oz
thousand lbs.
0.1
184,568
0.21
128
1,265
52,077
0.2
35,564
0.56
433
639
33,985
0.3
26,061
0.68
553
567
31,782
0.4
19,304
0.79
675
491
28,729
0.5
13,827
0.93
811
412
24,718
0.6
10,145
1.06
926
347
20,713
0.7
7,694
1.20
1,035
296
17,553
0.8
6,053
1.32
1,142
257
15,233
0.9
4,733
1.45
1,230
221
12,831
1
3,711
1.59
1,304
190
10,668
1.1
2,832
1.76
1,372
160
8,568
1.2
2,195
1.94
1,454
137
7,035
1.3
1,770
2.10
1,493
120
5,825
1.4
1,430
2.28
1,514
105
4,776
1.5
1,192
2.45
1,549
94
4,070
Figure 1. Brewer In Situ Mineral Resource Visual Validation
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5156/245280_f91d99d44433d883_003full.jpg
Brewer Backfill Mineral Resource Estimate
The previously mined open pits at the Brewer project have been backfilled with the waste rock and heap-
leached ore generated from the previous mining activities.
The backfill material lies above a large
portion of the Brewer in situ Mineral Resource and would need to be removed in the event the Brewer
mine is re-started.
As such, Carolina Rush has drilled six large diameter sonic holes through the backfill
to determine the gold content of this material.
The material was categorized based on its acid-generating potential and backfilled into the pit as
discrete layers "HLP1-4" oxidized ore, "HLP5-6" mixed to unoxidized ore, and "Waste Rock".
These
domains form the basis of the inferred Backfill Mineral Resource presented in table 3.
Table 3.
Brewer Inferred Backfill Mineral Resource Statement
Average Value
Material Content
Backfill Model
Mass
Au
Cu
Au
Cu
thousand tonnes
g/t
ppm
thousand oz
thousand lbs.
HLP 1-4
2,000
0.17
94
11
414
HLP 5
1,579
0.49
863
25
3,007
HLP 6
2,429
0.22
292
17
1,561
Waste Rock
5,892
0.46
313
86
4,068
Total
11,900
0.36
345
139
9,050
Differences may occur in totals due to rounding.
(1)
Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability.
(2)
The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or
other relevant issues.
(3)
The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must
not be converted to a Mineral Reserve.
(4)
The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on
Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the
CIM Council.
(5)
Details on the metallurgical properties and processing methods required to extract gold and copper from the backfill material have not been
undertaken.
As such, the Backfill resource is considered theoretical and additional studies are required to report the inferred resources at a
higher level of confidence.
(6)
A NI 43-101 Technical Report supporting the Maiden Mineral Resource Estimate will be filed on SEDAR+ at
www.sedarplus.ca
within 45
days of this news release.
Investors are encouraged to review the full report, which will provide further details on key assumptions,
parameters, and risks associated with the Mineral Resource Estimate.
Brewer Backfill Mineral Resource Estimate Methodology
Domain Modeling:
Each backfill domain was modeled as a discrete wireframe and clipped to
the surface of the historic open pit and topographic surfaces.
Block Model Construction:
The block model was constructed from regular 5m x 5m x 3m blocks
using the EDGE estimation tools in Leapfrog Geo software.
Bulk Density:
A bulk density of 2.2g/cm3 was assumed for the backfill material which provides a
reasonable correlation of the total tonnage of material removed and backfilled into the open pit as
documented by the previous operator.
Interpolation and Search Parameters:
Each backfill domain was estimated independently
using Leapfrog Geo's Radial Basis Function (RBF) numerical modeling function.
Model Validation:
The backfill resource model was validated using visual examination in various
global and cross-sectional orientations, as well as back-flagging the RBF estimators onto the
drillhole assay table and checking scatter plots of the comparative grades.
Swath plots were also
examined but the sparse density of drillholes in the backfill material limits the ability to understand
how the estimators are performing.
Figure 2 provides an example of the visual validation of the
backfill resource model.
Grade Sensitivity Analysis:
No grade sensitivity analysis was conducted for the backfill resource
model; the reported resource does not apply a cutoff grade as it assumes that all backfill material
will need to be removed and processed to support mining of the in-situ resource below the backfill.
Figure 2. Brewer Backfill Mineral Resource Visual Validation
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5156/245280_f91d99d44433d883_004full.jpg
Qualified Person - Brewer Mineral Resource Estimate
The Independent and Qualified Person for the Brewer Mineral Resource Estimate (MRE) is Patrick J.
Hollenbeck, CPG-11436.
He has reviewed, completed, validated, and approved the Brewer MRE.
In
accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, he has
validated and approved the technical and scientific content of this news release.
Qualified Person
The technical information in this news release has been prepared in accordance with Canadian
regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc,
CPG-12116, the Company's Senior Geologist and Exploration Manager and a Qualified Person as
defined by NI 43-101.
About Carolina Rush
Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is exploring the Carolina Terrane in the
southeastern USA. Its flagship Brewer Gold-Copper Project is located at the past-producing, 397-
hectare Brewer Gold Mine property in Chesterfield County, South Carolina, 17 kilometers along trend
from the producing Haile Gold Mine (
https://oceanagold.com/operation/haile/
).
The proximity of the Brewer Gold-Copper Project to the Haile Gold Mine does not imply that
mineralization or results from Haile are indicative of mineralization at Brewer.
For further information, please contact:
Layton Croft, President and CEO
or
Jeanny So, Corporate Communications Manager
E:
T: +1.647.202.0994
For additional information please visit our new website at
http://www.TheCarolinaRush.com/
and our X
feed:
https://twitter.com/TheCarolinaRush
.
Neither 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.
This news release contains forward-looking information which is not comprised of historical facts.
Forward-looking information is characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate" and other similar words, or statements that certain events or
conditions "may" or "will" occur. This news release contains forward-looking information pertaining to
the Company's 2025 Maiden MRE; that the mineral resource remains open at depth, the potential for
future MRE growth from deeper drilling, and/or future exploration. Forward-looking information
involves risks, uncertainties and other factors that could cause actual events, results, and
opportunities to differ materially from those expressed or implied by such forward-looking information.
Factors that could cause actual results to differ materially from such forward-looking information
include, but are not limited to, changes in the state of equity and debt markets, fluctuations in
commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks
involved in the mineral exploration and development industry, including those risks set out in the
Company's management's discussion and analysis as filed under the Company's profile at
www.sedarplus.ca
. Forward-looking information in this news release is based on the opinions and
assumptions of management considered reasonable as of the date hereof, including that all
necessary governmental and regulatory approvals will be received as and when expected. 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. The Company disclaims any intention or obligation to update or revise any forward-
looking information, other than as required by applicable securities laws.
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