Crown Identifies High Grade Copper-Silver Drill Targets at Superior Copper Project
Crown Identifies High Grade Copper-Silver Drill Targets at Superior Copper
Project
TORONTO, CANADA, August 11, 2020 - Crown Mining Corp. (" Crown" or the “ Company”)(TSX-V: CWM,
FSE: C73) is pleased to announce the results of a comprehe nsive review of historical exploration data on
the Company’s flagship Moonlight-Superior Copper Proj ect in Plumas County, Ca lifornia. The review
focused on the Superior copper deposit, with the objective of generating drill targets to assess the
potential for well-developed high-grade vein and br eccia hosted mineralization with silver and gold
credits which could improve the overall scope of Moonlight-Superior Copper Project.
HIGHLIGHTS
Continuous rock chip-channel samples collected along ribs of underground workings at Superior
defined high-grade copper and multi-ounce silver mineralization in broad breccia and vein like
structures, including:
o SRW101-111 Zone: 34.1 feet @ 2.57% Cu and 42g/t Ag
o SRW366-367 Zone: 6.2 feet @ 7.33% Cu and 109g/t Ag
o SRW438-441 Zone: 8.5 feet @ 6.13% Cu, 0.07g/t Au and 137g/t Ag
o SRW442-448 Zone: 21.7 feet @ 1.97% Cu and 28g/t Ag
Historic drilling confirms discrete, but broad zones of high-grade copper mineralization, including:
o S1L-10 – 180 feet @ 0.93% Cu, Including 60 feet @ 1.31% Cu (EOH assayed 6ft @ 0.65% Cu)
o S1L-13 – 114 feet @ 1.46% Cu, Including 36 feet @ 2.27% Cu (EOH assayed 16ft @ 0.88% Cu)
o S1L-16 – 109 feet @ 1.31% Cu, Including 51 feet @ 2.04% Cu (EOH assayed 6ft @ 0.48% Cu)
Several drill holes terminated in moderate to high grade copper mineralization.
Previous explorers did not analyze drill core for gold, silver, or molybdenum.
Grid soil assays define a copper in soil anomaly covering an area of 280-hectares using a threshold
of 600ppm copper. Only 70 hectares have been drill-tested.
There is a general lack of pyrite is in the hydrothermal system.
KEY TAKEAWAYS & CONCLUSIONS
Broad zones of higher-grade copper – silver and locally gold mineralization have been confirmed in
at least ten veins and breccia zones.
Less than 50% of the copper in soil anomaly has been drill tested at Superior
The general absence of pyrite is encouraging, as copper recovery is affected by the proportion and
reactivity of pyrite in the ore, and pyrite is an acid forming mineral in waste rock.
Exploration data review confirms significant potential to expand the resource base at Superior, as
mineralization is open at depth and in all directions
The Company is designing a drilling program to achieve the following:
o Demonstrate thickness and continuity of high-grade veins and breccia zones
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o Test depth potential and lateral continuity of known mineralization and high-grade zones
o Scout drill south and west of the current mineral domains, where strong copper in soils occurs
o Assay all core for a multi-element geochemical suite
Stephen Dunn, Chief Executive Officer commented: “Crown has always considered the Moonlight-
Superior IOCG and Porphyry Project area as a Tier-1 copper exploration district, and the Team’s analysis
of historic data confirms that potential. We are highly encouraged by the findings of this data review,
which identifies substantial exploration potential in and around the Superior project area. Exploration
data confirms high-grade copper mineralization with associated high-grade silver, which has not been
evaluated. Underground rock-chip channel assays sh ow significant silver is associated with the copper
mineralization, the implications of this could be significant with respect to the overall project potential.”
DETAILS OF THE DATA REVIEW AT THE MOONLIGHT SUPERIOR COPPER PROJECT
There are three advanced stage copper deposits within the Company’s Moonlight-Superior Copper
Project area, known as the Moonlight, Superior and Engels deposits. All three are described in the
Company’s “Technical Report and Preliminary Econom ic Assessment for the Moonlight Deposit dated
April 12, 2018 which is found on the Company’s website.
A detailed review of historic surface and drilling da ta was undertaken to assess the base and precious
metal potential at the Company’s Superior Copper Pr oject, located 3.5km southeast of Moonlight and
3.5km southwest of the Engels copper deposits.
Reported production from the Engels and Superior mines was approximately 160 million pounds of
copper, 23,000 ounces of gold and 1.9 million ounces of silver recovered from 4.7 million short tons of ore
between 1914 and 1930. Placer Amex explored the property from 1960-1972, drilling over 400 holes and
completing significant surface mapping and sampling. There are about 2 million tons of sand tailings
about 5000 feet downstream from the historic mill site at Superior.
Surface Geochemistry
A 250 feet by 250 feet soil grid covers the project area , with more than 4000 soils collected at Superior.
Soils have defined an impressive copper in soil an omaly that covers 280-hectares, contoured using a
threshold of 600ppm copper. Within the contours of this 600ppm copper anomaly is a +1200ppm copper
anomaly that covers 180-hectares. This anomaly has only been partially explored, with historic drill holes
testing only 70-hectares of the 280-hectare copper in soil anomaly.
An aggressive program of underground sampling was un dertaken in the old Superior mine from 2007 –
2009, with a total 151 rock chip-channel and sele ct grab samples collected. Mr. Robert Wetzel, a
California registered Professional Geologist, oversa w the systematic and contin uous sampling along ribs
of the underground workings. Rock descriptions indicate mineralization comprises chalcopyrite and
bornite, occurring in veins, as coarse blebs and as disseminated grains (Figur e 1). Minimal pyrite was
observed, but tourmaline, magnetite and specular hematite commonly occur in association with the
copper species. The chip-sampling program identified at least ten high-grade vein and breccia-like
structures, which historic mining focused on. The high-g rade vein and breccia zones are estimated at
between 30-100 feet in width, which is based on re sults of the underground sampling and historic mined
stope widths. These high-grade structural zones appear to strike north-south and dip moderate to steeply
east, with some veins reported to be sub-horizontal.
Highlights of Wetzel’s channel sampling results are shown in Table 1, which confirm broad zones of high-
grade copper and silver mineralization, locally associated with anomalous gold.
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Table 1: Superior Project, Significant Assays from 2007‐09 Underground Channel Sampling
Sample Sequence From
(ft)
To
(ft)
Length
(ft)
Copper
(%)
Silver
(g/t)
SRW101‐111 Zone 0.00 34.10 34.10 2.57 42.00
SRW351‐356 Zone 0.00 18.60 18.60 1.17 16.00
SRW357‐365 Zone 0.00 27.90 27.90 1.91 28.00
SRW366‐367 Zone 0.00 6.20 6.20 7.33 109.00
SRW368‐371 Zone 0.00 12.40 12.40 1.95 25.00
SRW380‐382 Zone 0.00 11.10 11.10 4.79 85.00
SRW383‐386 Zone 0.00 12.40 12.40 1.72 25.00
SRW438‐441 Zone 0.00 8.50 8.50 6.13 137.00
SRW442‐448 Zone 0.00 21.70 21.70 1.97 28.00
Notes: Grade intercepts are calculated as a weighted average grade (uncut).
True widths are interpreted to be between 60‐90% of the reported lengths, unless otherwise stated.
Drilling
With respect to drilling, Amex completed 96 diamon d drill holes totaling approximately 16,470 meters at
the Superior deposit between 1964 and 1967. The most common drill core size that explorers drill and
sample in North America today is NQ and HQ sized, ho wever all drilling at Superior was done in BQ size
core. BQ core is smaller in diameter (1.43 inches) and hence half core samples provide a sample size less
adequate for testing. HQ (2.50 inches) or NQ (1.875 inches) are the preferred core size when drilling out
porphyry and IOCG style deposits, a larger core diameter that provides a larger sample size and hence
more reliable assay data.
It should be noted that the averag e hole depth at Superior is only 525 feet (160m) in length, and many
holes bottomed in copper mineralization. With respect historic drilling at Superior, all samples were
analyzed for copper, but there are very few assays for silver, gold, molybdenum etc. A review of historic
drill assays confirms the same styl e of high-grade copper mineralization was intersected in drill holes,
summarized in Table 2.
Figure 1: Recent photos taken alon g the Level 1 drift. (Left) Strong bornit e-chalcopyrite mineralization occurring in
cm-scale blebs and in veins, (Middle) Strong malachite stain developed along a broad zone of bornite-chalcopyrite
mineralization, (Right) Strong chalcopyrite mineralization occurring in veins and as disseminated grains.
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Table 2: Selected High‐Grade Copper Assays from Historic Drill Holes at Superior Project
Sample Sequence From
(ft)
To
(ft)
Length
(ft)
Copper
(%)
Silver
(g/t)
S1L-10 588.0 768.0 180.0 0.93 NA
Including 618.0 678.0 60.0 1.31 NA
S1L-13 121.0 235.0 114.0 1.46 NA
Including 132.0 162.0 36.0 2.27 NA
S1L-16 12.0 121.0 109.0 1.31 NA
Including 19.0 70.0 51.0 2.04 NA
S2L-23 12.0 105.0 93.0 1.14 NA
Including 64.0 84.0 20.0 2.84 NA
DDH‐40 103.0 236.0 133.0 0.89 NA
Including 108.0 159.0 51.0 1.32 NA
Notes: Grade intercepts are calculated as a weighted average grade (uncut). NA – Not Assayed
True widths are interpreted to be between 60‐90% of the reported lengths, unless otherwise stated.
Stock Options
In addition, the Company announces that incentive stock options to purchase up to 1,600,000 common
s h a r e s o f t h e C o m p a n y h a v e b e e n g r a n t e d t o v a r ious consultants, officers and directors of the
Company pursuant to the Company’s stock option plan and subject to any regulatory approval. Each
stock option is exercisable at $0.10 for a period of three years from th e grant date. All securities issued
pursuant to this option grant will be subject to a fo ur (4) month hold period fr om the date of grant if
exercised with the first four months from the date of grant.
About Crown Mining Corp.
Crown controls approximately 15 square miles of patented and unpatented federal mining claims in the
Light’s Creek Copper District in Plumas County, NE California. The District contains substantial copper
sulfide and copper oxide resources in three deposits – Moonlight, Superior and Engels, as well as several
partially tested and untested exploration targets.
The Superior and Engels Mines operated from abou t 1915-1930 producing over 161 million pounds of
copper from over 4 million tons of rock containing 2.2% copper with silver and gold credits.
The Moonlight PEA, prepared by Tetra Tech Inc., had the following highlights:
After-tax NPV of US$179M at an 8% discount rate and a $3.15 copper price.
After tax IRR of 14.6%
Initial Capital Cost: US$513M, including a contingency provision in the amount of US$71M
Plant Processing Rate: 60,000 tons per day (STPD)
Average Copper Recovery: 86.0%
Mine Life: 17 years, based on the existing Mineral Resource estimate
Life of mine copper production of 1.5 billion pounds
The Moonlight deposit hosts a current National Instru ment 43-101 (“NI 43-101”) indicated resource of
approximately 170 million tons (154 million tonnes) av eraging 0.29% copper, and an inferred resource of
68 million tons (62 million tonnes) averaging 0.29% copper.
The Superior deposit is not included in the Moonlight PEA and it hosts a current NI 43-101 inferred mineral
resource of 57 million metric tonnes at an average copper grade of 0.41%. Note no silver or gold were
included as part of this resource.
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Please note the PEA is preliminary in nature and in cludes inferred mineral reso urces that are considered
too speculative geologically to have the economic considerations applied to them that would enable
them to be categorized as mineral reserves. Furthermore, there is no certainty that the preliminary
economic assessment will be realized. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. Readers are encouraged to read the technical report.
Further details of the PEA and the resources on Crown’s property and the parameters used to calculate
them can be found in the "Technical Report and Pr eliminary Economic Assessment for the Moonlight
Deposit, Moonlight-Superior Copper Project, California, USA" dated April 12, 2018 on both the company’s
website at www.crownminingcorp.com or on www.sedar.com under the Crown Mining Corp. profile.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information
contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crownminingcorp.com.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, Crown Mining Corp. (416) 361-2827 or email
Cautionary and Forward-Looking Statements
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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S.
securities laws and regulations, including statements re garding the future activities of the Company. Forward-
looking statements reflect the current beliefs and expectations of management and are identified by the use of
words including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar word s. Actual results may
differ significantly. The achievement of the results expresse d in forward-looking statements is subject to a number of
risks, including those descri bed in the Company’s management discussion and analysis as filed with the Canadian
securities regulatory authorities which are available at ww w.sedar.com. Investors are cautioned not to place undue
reliance upon forward-looking statements.