CopperCorp Intersects 43.0m at 0.62% Cu in Initial Drilling at Alpine Stellar Zone

VANCOUVER, BC, May 11th, 2022 /CNW/ – CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) (“CopperCorp” or the “Company”) is pleased to announce preliminary assay results from its first four drill holes (holes AP022, AP023, AP024 and AP025) at the Stellar Zone, part of the Alpine Prospect target area located at the southern end of the Company’s 100% owned , 1,066 km2 AMC Project located in western Tasmania, Australia.

Highlights

  • Best significant mineralized intercepts include:
Hole ID From (m) To

(m)

Interval (m)1 Cu (%) Co (ppm)
AP022

 And

135.0

225.0

178.0

256.0

43.0

31.0

0.62%

0.25%

257

87

AP023 148.3 166.0 17.7 0.54% 293
AP024

 And

 And

55.9

133.0

157.0

98.0

139.0

200.0

42.1

6.0

43.0

0.60%

0.96%

0.33%

252

283

174

AP025 147.0 165.3 18.3 0.59% 254

1Note that true widths are uncertain.  Initial interpretation by the Company is that the copper mineralization is hosted in steeply dipping zones of mineralization implying true widths in the range of 70% to 95% of reported intervals.

  • These results further confirm the Company’s interpretation from historic drilling of multiple continuous zones of copper mineralization at the Stellar Zone over a strike length of 700m (open) and to a vertical depth of 300m (open).
  • The Stellar Zone forms part of the larger Alpine Prospect target at the southern end of the Company’s 1,066 km2 AMC Project. Copper mineralization at the Stellar Zone is interpreted to be Iron-Oxide-Copper-Gold (IOCG) in style and occurs within a strong, regional, north-south striking magnetic zone associated with the Arthur Metamorphic Complex  that continues over 100 km of strike length within the AMC Project.
  • Additional high-priority exploration drill targets, Alpine West and Alpine North, have been identified at the Alpine Prospect through surface sampling and geophysical surveys. These new targets cover an area of approximately 1km by 300m at Alpine North and 800 by 300m at Alpine West (Figure 2).  The Company is particularly encouraged by the discovery potential of these additional targets due to interpreted similarities with the geochemical and geophysical expressions over the drilled copper mineralization at the Stellar Zone.
  • The Company’s ongoing drilling program is focused on step-out drilling to depth and along strike at the Stellar Zone, and will also begin sequential drill testing of additional targets at the Alpine Prospect.
  • Assays from a further seven drill holes from the initial Stellar Zone drilling are pending. There has been significant delay in processing times at the laboratory and the additional seven holes will be reported shortly after they are received.

Stephen Swatton, President and CEO of CopperCorp, stated, “The Company is very encouraged by these first drill assay results received from the Stellar Zone at Alpine which is the first exploration drilling to be conducted in the area in 14 years.  The results are consistent with the historical drilling and, importantly, confirm continuity of mineralization between historical holes. Mineralization at the Stellar Zone is open along strike and at depth and results from recent geophysical and surface geochemical work has confirmed potential for a large-scale Iron-Oxide-Copper-Gold (IOCG) system at Alpine which the Company plans to continue testing as recently announced with the Alpine Phase 1 drilling program being expanded to 10,000m.  The results further highlight the prospectivity of the Arthur Metamorphic Complex for IOCG style mineralization over which the Company has a dominant land holding.

 

Alpine Prospect Drilling

At the time of reporting, the Company has completed drilling of 11 diamond core holes for a total of 3,925m at the Alpine Stellar Zone, with a 12th hole in progress. The drill program comprises confirmation and infill holes designed to confirm historical copper grades, test continuity of mineralization, and provide geological and structural context to the mineralization.

Assay results from the first 4 drill holes have been received. All 4 holes intersected broad zones of copper mineralization and significant mineralized drill hole intercepts are listed in Table 3. The overall grade and width of the mineralized intercepts are consistent with historical intersections (Table 4) and provide support for the continuity of mineralization between historical drill holes.

Drilling to date has intersected up to three zones of mineralization at the Stellar Zone and has confirmed a steep southeast to east dipping trend of the mineralization.

Location Data for Alpine Prospect Drillholes (CopperCorp)

Drillhole ID Easting GDA94 Northing GDA94 mRL Final Length (m) Dip Azimuth Company
AP022 341205 5376625 173 268.5 -75 340 CopperCorp
AP023 341206 5376626 173 286.9 -50 340 CopperCorp
AP024 341310 5376670 176 303.8 -55 340 CopperCorp
AP025 341275 5376575 178 348.9 -62 340 CopperCorp

Table 1. Alpine Prospect CopperCorp drill hole location and summary data.

 

Alpine Prospect CopperCorp Drill Hole Significant Mineralized Intervals (0.1% Cu cut-off)

Prospect Drillhole ID From (m) To (m) Interval (m) Cu (%) Co (ppm)
Alpine AP022 135.0 178.0 43.0 0.62 257
212.2 217.0 4.8 0.48 214
225.0 256.0 31.0 0.25 87
AP023 104.0 110.0 6.0 0.46 329
148.3 166.0 17.7 0.54 293
170.5 176.0 5.5 0.43 363
AP024 55.9 98.0 42.1 0.60 252
133.0 139.0 6.0 0.96 283
157.0 200.0 43.0 0.33 174
AP025 147.0 165.3 18.3 0.59 254
262.0 268.0 6.0 0.45 83
331.0 340.0 9.0 0.12 20

Table 2: Alpine Prospect significant drillhole mineralized intercepts (CopperCorp Drill Holes). Reported grades are calculated as down-hole length weighted averages. A 0.1% Cu lower cut-off grade is applied. Intercepts are downhole intervals.

 

About the Alpine Prospect

The Alpine Prospect was discovered by CRA Exploration in the early 1980’s after following up an airborne magnetic survey with gridding, ground magnetics, and soil geochemistry followed by two diamond drill holes in 1985. Stellar Resources drilled a further 19 holes between 2006 and 2008. The historical, wide-spaced drilling intersected significant IOCG-style copper mineralization, with significant intercepts including (See Table 4):

  • AP004: 38.2m @ 0.79% Cu from 57.7m, including 28.2m @ 1.03 % Cu from 58.7m and 41.8m @ 0.3% Cu from 111.0m
  • AP007: 86.0m @ 0.50% Cu from 62.0m
  • AP008A: 41.0m @ 0.48% Cu from 29.8m
  • AP017: 24.7m @ 0.52% Cu from 222.0m

Mineralization at Alpine is hosted in intensely deformed and metamorphosed amphibolites, mafic and pelitic schists, graphitic phyllites and carbonates belonging to the Bowry Formation of the Arthur Metamorphic Complex.  Copper mineralization is associated with up to three sub-parallel magnetite-hematite-sulphide lenses in strongly silica-siderite altered chlorite schists (see examples in Figures 7 and 8).  Mineralization consists mainly of chalcopyrite with lesser covellite and bornite. Additional chalcopyrite-pyrite breccia mineralization is hosted in silica-siderite altered and veined quartzites and schists adjacent to the ironstone lenses.  Anomalous levels of cobalt is associated with the copper mineralization, typically averaging 200 to 300ppm Co and locally reaching up to 0.1% Co over short intervals.

The mineralization strikes east-northeast and dips steeply to the southeast, forming an interpreted fault-bound boudinage within the highly deformed schists of over 600m in strike length. Drilling completed to date indicates that the thickest part of the Stellar mineralized zone is over 100m in width, thinning to the west and thickening towards an interpreted faulted fold hinge in the east. The deposit remains open down dip and along strike to the west.

As previously reported1, results from recent geophysical modelling indicate that the drilled IOCG style mineralization at the Alpine Stellar Zone is defined by coincident gravity and magnetic anomalies (see Figure 1). The model further indicates additional areas of high IOCG prospectivity indicated by coincident, partially coincident, or offset gravity and magnetic anomalies – the Alpine West and Alpine North targets (Figures 2 & 3) which the Company plans to drill test.

 

Next Steps

The drilling program at the Stellar Zone is ongoing with assays from a further 7 drill holes awaited.  As previously announced1, the Company plans to expand the diamond drilling program from 4,200m to 10,000m. The expanded drill program will be focused on vectoring towards potential zones of thicker and higher-grade mineralization in the Stellar Zone, testing the Stellar Zone at depth, and step-out drilling to test high-priority targets at Alpine West and Alpine North. Planning and permitting for the Alpine West and Alpine North exploration drill programs is underway. The Company currently has one drill at Alpine and plans to source another to expedite the planned drilling. Further infill and extension gridding and soil sampling programs are also planned.

 

Figure 1. Plan map of the Alpine Stellar Zone showing completed drillholes and the drilling-defined mineralization footprint. Background imagery comprises greyscale first-vertical-derivative (1VD) magnetics overlain by semi-transparent pseudocolour inversion gravity model slice grid at 250m depth (below surface).

 

Figure 2. Plan map showing gravity (pink) and magnetics (blue) inversion model shells, Alpine Prospect.

 

Figure 3. Alpine Prospect – Section view A-A’ (looking northwest) showing gravity (pink) and magnetics (blue) inversion model shells with currently drill defined mineralization shell (red) along the Stellar and Alpine West target trend. Mineralization at the Stellar Zone is open at depth and along strike.

 

Figure 4. Drill section (looking northeast) showing results from AP022 and AP023 at the Stellar Zone, Alpine Prospect. Significant intervals are reported as downhole lengths.

 

Figure 5. Drill section (looking northeast) showing results from AP024 at the Stellar Zone, Alpine Prospect. Significant intervals are reported as downhole lengths.

 

Figure 6. Drill section (looking northeast) showing results from AP025 at the Stellar Zone, Alpine Prospect. Significant intervals are reported as downhole lengths.

 

Figure 7. Example of banded massive to semi-massive magnetite-sulphide IOCG style mineralization, AP024.

 

Figure 8. Example of banded semi-massive to vein magnetite-sulphide-siderite IOCG style mineralization in mafic schist host rock, AP024.

 

About AMC Project

The AMC Project covers a total of 1,066 km2 along approximately 100 km of strike length and establishes CopperCorp as the dominant owner of prospective ground in the district. The rocks are Neoproterozoic-Cambrian age and comprise a regional-scale metamorphic structural deformation zone that is host to widespread magnetite-sulphide-silicate alteration and mineralization indicative of a large Iron Oxide Copper Gold (IOCG)-style system and includes the Savage River 498 Mt @ 46% DTR magnetite mine (owned by Grange Resources Limited)3 and CopperCorp’s Alpine copper prospect.

The Alpine Prospect is located 30 km northwest of the local mining hub of Zeehan and within 5 km of two large-scale operating wind and hydro-electric renewable energy plants.

About CopperCorp

CopperCorp is a well-financed mineral exploration company with approximately C$8.8M targeting world class copper-gold discoveries in western Tasmania, Australia. The Company is currently undertaking confirmation and infill drilling and ground exploration programs at the Alpine Prospect (our initial target on the larger AMC Project, formerly the Alpine Project) where wide spaced historical drilling delineated IOCG-style mineralization over a 700m strike length.

 

Figure 9. Location plan showing CopperCorp’s exploration licenses and project areas in western Tasmania, Australia.

 

Quality Assurance / Quality Control on Assay Results

Full information on historical exploration activities and results at the Alpine Prospect and AMC Project are included in the Technical Report (NI 43-101) dated 18 April 20212.

CopperCorp’s diamond core drill holes are drilled at HQ and NQ core diameters using triple tube to maximize recovery.  Core recovery is generally good in mineralized zones (95-100%) with poorer recoveries associated with brittle faulting on zone margins. Sample collection is supervised by CopperCorp geological staff.  Mineralized zones are marked up for sampling by an experienced geologist.  Half core is split by diamond saw on nominal 1.0m sample lengths while respecting geological contacts. Samples are bagged and ticketed prior to delivery by Company personnel to the ALS commercial laboratories in Burnie, Tasmania, for sample preparation.  The half core samples are crushed to 80% passing 2mm, riffle split to 500g and then pulverized to pass 75um. Coarse duplicate sampling is conducted every 20 samples to assess variability of the coarse crush. Cu and multi-element assay is by 4-acid digest followed by ICP-MS at ALS laboratories by method ME-ICP61a). Au assay is by 30g fire assay at ALS laboratories by method Au-AA25. Certified reference materials (CRMs), blank and duplicate QAQC samples are included in sample submissions at 20 sample intervals. All QAQC samples were within acceptable limits (2 standard deviations for CRMs, duplicates <5%).

Mineralized Interval Calculations

Reported significant mineralized intervals in this news release (including for new and historical drillhole intervals) are calculated as down-hole length-weighted intercepts using a 0.1% Cu lower cut-off grade and carry a maximum internal dilution of 4m (except for AP012A which has a maximum internal dilution of 7m).  The calculated intervals for historical drill holes may vary from previously reported interval calculations that used a cut-off grade of 0.3% Cu.  The 0.1% Cu cut-off grade is considered to appropriately define the boundaries of mineralized zones and provides for more balanced reporting of drilling results during the exploration stage, enabling reporting of both low- and high-grade intercepts.  For consistency, drill hole intercepts from all historical drill holes using the 0.1% Cu cut-off are also displayed in Table 4.  No top-cut grade was applied.  True widths of drill hole intercepts are yet to be determined.

Qualified Person

The Company’s disclosure of technical or scientific information related to the Alpine Prospect and AMC Project in this news release was reviewed and approved by Sean Westbrook, VP Exploration for the Company. Mr. Westbrook is a Qualified Person as defined under the terms of National Instrument 43-101.  This news release also contains information about adjacent properties on which the Company does not have an interest.  Information sources regarding the adjacent properties are listed in the References section of this news release.  The QP has been unable to verify the information on these adjacent properties and the information is not necessarily indicative to the mineralization on the properties that is the subject of this news release.

References

1CPER: TSXV News Release 27th April 2022.

2Independent Technical Report on EL2/2018 Tasmania Australia.  Prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Properties (NI43-101).  Effective date: 18 April 2021.

3Grange Resources Limited, 2021.  Update to Savage River Mineral Resources and Ore Reserves, ASX Release 31 March 2021.

Contact:

Stephen Swatton
President, CEO & Director

Alexander Muir, CFA
Manager, Investor Relations

604-970-8032

Additional information about CopperCorp can be found on its website: www.coppercorpinc.com and at www.sedar.com.

 

Location Data for Alpine Prospect Drillholes (Historical)

Drillhole ID Easting GDA94 Northing GDA94 mRL Final Length (m) Dip Azimuth Company
AP001 341694 5377131 187 106.7 -65 357 CRA Exploration
AP002 341297 5376834 182 85.8 -68 357 CRA Exploration
AP003 341020 5376674 170 149.3 -75 339 Stellar Resources
AP004 341313 5376830 179 152.8 -87 160 Stellar Resources
AP005 341687 5376985 196 170 -65 330 Stellar Resources
AP006 341446 5376875 190 155.6 -65.6 331 Stellar Resources
AP007 341386 5376693 185 173.5 -60.6 334 Stellar Resources
AP008 341225 5376768 176 71.6 -60 328 Stellar Resources
AP008A 341225 5376768 176 139 -70.8 328 Stellar Resources
AP009 341292 5377664 189 140.1 -65.9 348 Stellar Resources
AP010 341643 5377774 188 149.7 -60 350 Stellar Resources
AP011 341292 5376909 189 178.1 -90 360 Stellar Resources
AP012 341460 5376952 193 76.1 -90 360 Stellar Resources
AP012A 341460 5376952 193 269.5 -90 360 Stellar Resources
AP013 341561 5376920 196 353 -90 360 Stellar Resources
AP014 341140 5376626 176 284.1 -60 337 Stellar Resources
AP015 341497 5376717 190 272.3 -60 337 Stellar Resources
AP016 341264 5376637 174 205 -60 337 Stellar Resources
AP017 341418 5376607 191 272.4 -60 337 Stellar Resources
AP018 341084 5376749 174 82 -90 360 Stellar Resources
AP019 341570 5377127 188 62 -50 360 Stellar Resources
AP020 341443 5377016 195 165.5 -75 337 Stellar Resources
AP021 341483 5377097 193 200 -60 360 Stellar Resources

Table 3. Alpine Prospect historical drill hole location and summary data.

Alpine Prospect Historical Drill Hole Significant Mineralized Intervals (0.1% Cu cut-off):

Prospect Drillhole ID From (m) To (m) Interval (m) Cu (%) Co (ppm)
Alpine AP001 78.0 94.75 16.75 0.19 X
Alpine AP002 44.0 71.4 27.4 0.53 X
Alpine AP003 82.5 94.6 12.1 0.16 X
Alpine AP003 124.6 129.5 4.9 0.27 X
Alpine AP004 57.7 95.9 38.2 0.79 X
including 58.7 86.9 28.2 1.03 X
Alpine AP004 111.0 152.8 41.8 0.30 X
Alpine AP005 No Significant Mineralized Intercepts
Alpine AP006 40.0 91.0 51.0 0.39 X
Alpine AP007 62.0 148.0 86.0 0.50 X
including 105.0 142.7 37.7 0.62 X
Alpine AP008A 29.8 70.8 41.0 0.48 X
Alpine AP009 No Significant Mineralized Intercepts
Alpine AP010 No Significant Mineralized Intercepts
Alpine AP011 27.0 80.0 53.0 0.38 X
including 28.1 54.0 27.0 0.47 X
Alpine AP011 94.0 98.0 4.0 0.23 X
Alpine AP012A 77.0 112.0 35.0 0.39 X
Alpine AP012A 121.7 131.8 10.1 0.20 X
Alpine AP012A 141.4 241.0 99.6 0.14 X
Alpine AP013 204.6 230.9 26.3 0.25 203
Alpine AP013 241.0 305.0 64.0 0.31 195
Alpine AP014 151.0 183.0 32.0 0.47 247
Alpine AP014 206.0 212.0 6.0 0.20 115
Alpine AP015 Not Assayed
Alpine AP016 71.0 88.0 17.0 0.60 242
including 76.0 84.0 11.0 0.76 252
Alpine AP016 163.0 205.0 42.0 0.32 144
Alpine AP017 222.0 246.65 24.7 0.52 211
Alpine AP018 Not Assayed – hole abandoned
Alpine AP019 Not Assayed – hole abandoned
Alpine AP020 85.0 90.0 5.0 0.20 X
Alpine AP020 146.0 165.5 19.5 0.20 X
Alpine AP021 No Significant Mineralized Intercepts

Table 4: Alpine Prospect significant drillhole mineralized intercepts (Historical Drill Holes). Reported grades are calculated as down-hole length weighted averages. A 0.1% Cu lower cut-off grade is applied. Intercepts are downhole intervals. X = Cobalt not assayed.

 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements in this news release include, but are not limited to, statements regarding: the Company’s ongoing diamond drilling program from the Alpine Prospect Stellar Zone, Alpine Prospect at the AMC Project in western Tasmania, Australia; the potential for a large-scale Iron-Oxide-Copper-Gold (IOCG) system at Alpine which the Company plans to continue testing as recently announced with the Alpine Phase 1 drilling program being expanded to 10,000m; the Company plans to expand the diamond drilling program from 4,200m to 10,000m; that the expanded drill program will be focused on vectoring towards potential zones of thicker and higher-grade mineralization in the Stellar Zone, testing the Stellar Zone at depth, and step-out drilling to test high-priority targets at Alpine West and Alpine North; that planning and permitting for the Alpine West and Alpine North exploration drill programs is underway; that the Company currently has one drill at Alpine and plans to source another in order to expedite the planned drilling; that further infill and extension gridding and soil sampling programs are also planned; and other business plans of the Company. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to: that the Company may experience difficulties in drilling and carrying out related work; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information, and other risks and uncertainties. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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