VANCOUVER, BC, March 31, 2022 /CNW/ – CopperCorp Resources Inc. (TSXV: CPER) (OTCPK: CPCPF) (“CopperCorp” or the “Company”) is pleased to announce that its common shares are now eligible for electronic clearing and settlement through Depository Trust Company (DTC).
DTC is a subsidiary of Depository Trust & Clearing Corp., a United States company that manages the electronic clearing and settlement of securities for publicly traded companies in the United States. Securities that are eligible to be electronically cleared and settled through DTC are DTC eligible. DTC eligibility is expected to simplify the process of trading and enhance the liquidity of the Company’s common shares in the United States because of the accelerated settlement period and the expected reduction in costs for investors and brokers.
“We are pleased that we have been approved for electronic clearing and settlement to simplify the process of investing in CopperCorp for investors and believe that having DTC eligibility will encourage new investors at this exciting stage of our company,” commented Stephen Swatton, CEO of CopperCorp.
DTC eligibility also enables new investors that may have been previously restricted from trading common shares to begin trading and simplifies the process of trading common shares in the United States.
CopperCorp is a well-financed mineral exploration company with approximately C$9.8M targeting world class copper-gold discoveries in western Tasmania, Australia. The Company is currently undertaking 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. Significant intercepts from the historical drilling included:
- AP004: 38.2m @ 0.8 % Cu from 58.7m, including 22.25m @ 1.24% Cu from 64.65m; and 41.8m @ 0.3% Cu from 111.0m
- AP007: 86.0m @ 0.5% Cu from 62.0m
- AP017: 24.65m @ 0.52% Cu from 222.0m
- AP013: 100.4m @ 0.27% Cu from 204.6m
[these have been calculated using a 0.1% Cu cut-off]
Western Tasmania is an established mining region located within a low-risk, stable jurisdiction with a long, 150-year exploration and mining history. The region is rich in diverse mineral resources with large-scale multi-generational mines, established infrastructure, local skilled labor, and rail-to-port networks. The region is supplied by 100% renewable energy.
Quality Assurance / Quality Control
Full information on historical exploration activities and results at the Alpine prospect are included in the Technical Report (NI 43-101) dated 18 April 2021. True widths of historical drill hole intercepts are yet to be determined.
The Company’s disclosure of technical or scientific information in this press 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 press release includes “forward-looking statements”, including statements regarding the benefits of DTC eligibility, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of CopperCorp. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.
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.
SOURCE CopperCorp Resources Inc.