The Skyline Project has been expanded to include the newly granted Razorback prospect as well as the existing Walford Peak and High Tor properties covering a combined area of 504km², giving the company a dominant land position covering 80km of combined strike length over the eastern margin of the highly mineralized Cambrian-aged MRV belt and its northern correlates. CopperCorp considers the project area to be highly prospective for iron oxide-copper-gold (IOCG) and rare earth element (REE) deposits.

Four large-scale mines occur within 10km of the properties now comprising the consolidated Skyline Project – including the Tier 1 Mount Lyell Cu-Au deposit (3 Mt contained Cu and 3 Moz contained Au @ 1.0% Cu and 0.3g/t Au), the world class Rosebery and Hellyer polymetallic VMS deposits, and the Henty Au deposit (1.64 Moz Au @ 12.5 g/t Au).

Darwin Zone

The Darwin zone target, located in the southern portion of the license is defined by a 7km long north-south trending coincident magnetic and potassium-thorium radiometric anomaly. Previous drilling into part of this extensive anomaly at the South Darwin prospect intercepted significant IOCG style Cu-Au and REE mineralization associated with north-south trending hydrothermal breccias comprised of magnetite-hematite-pyrite-chalcopyrite-bornite mineralization hosted in intensely K-feldspar-chlorite-tourmaline altered volcanics directly adjacent to intrusive granites and porphyry bodies. The mineralization at South Darwin remains open at depth and along strike, and with the previous drilling testing less than 10% of the 7km-long anomaly, the company considers there to be excellent further Cu-Au and REE discovery potential at Darwin.

The IOCG style mineralization drilled at South Darwin comprises vein, breccia and semi-massive to massive magnetite-pyrite-chalcopyrite. The previous drilling returned a best intercept of 13.0m @ 1.2% Cu and 0.45g/t Au from 345m (SDD005). Drill hole SDD005 also intercepted significant rare earth element and scandium mineralization, including an intercept of 30.0m @ 2.1% TREO and 73ppm Sc from 297m, including 5.0m @ 3.3% TREO and 98ppm Sc from 311m (Table 1).  There are indications that the Cu-Au and REE grades are increasing with depth at South Darwin and the company is currently evaluating assay results to ascertain the validity of this theory.

Historical drill assays indicate that the REE mineralization at South Darwin is enriched in critical listed and valuable REE minerals. Approximately 25% of the total rare earth oxide suite in hole SDD005 comprises higher value REE. The grade of high value REE in this hole is 0.53% MREO.

Further potential for REE mineralization in the South Darwin area is indicated by historical surface rock chip sampling assay, with up to 16.2% TREO recorded. Much of the northern part of the Darwin Zone trend remains untested for REEs, however, extensive areas of thorium anomalism in radiometric data indicates good potential for further REE mineralization to be defined.

Table 1. Rare earth oxide values from significant drill hole intercept in SDD005 30.0m @ 2.1% TREO (1.0% TREO cut-off). Values have been rounded. Magnet Rare Earth Oxides (MREO) are shaded

Two diamond drill holes (SDD007 and SDD008) totalling 1022.4m were completed at the South Darwin prospect area during January-March and May-June 2024. Both holes were designed to test for extensions to REE and Cu-Au mineralization intercepted in hole SDD005. SDD007 and SDD008 confirmed strike extension of IOCG style Cu-Au and anomalous rare earth element (REE) values to at least 80m north of previous drilling.

The identification of N-S trending faults with close associations to the IOCG mineral system at South Darwin (Prince Darwin Fault – see Figure 4) is considered highly encouraging. On a regional scale, N-S to NNE-SSW trending faults in the Mount Read Volcanic belt represent the original back arc basin forming extensional structures and are known to have important associations with the formation of some of the largest mineral deposits in the region (e.g. Mt Lyell Cu-Au system, Henty Au deposit). The recognition of such faults associated with mineralization in the Darwin Zone is therefore highly significant.

Hyde Zone

The Hyde Zone is located 2.5km north along strike of the Darwin Zone and is interpreted to represent a continuation of the Darwin Zone trend, with the intervening section being covered by overlying rock sequences. The main target area at the Hyde Zone comprises a 1.5km long magnetic, radiometric and gravity high anomaly that is interpreted to be indicative of possible IOCG mineralization.  While the target area remains historically untested, extensive areas of outcropping chlorite-sericite alteration with disseminated and stringer vein pyrite-chalcopyrite mineralization flank the western and eastern sides of the magnetic-radiometric-gravity anomaly with surface rock chip sampling in the 1970’s returning assays including 0.5 to 1.25% Cu over 24m, and up to 6.1% Cu and 3.9g/t Au from outcropping gossan.

Jukes Zone

At the Jukes zone area, located 10km south of the Mt Lyell copper mine, historical small-scale mining during the early 1900’s was carried out on high-grade copper-gold magnetite-sulphide pipes with several exploration adits and shafts developed throughout the general area.

The IOCG style mineralization at Jukes is hosted in a zone of K-feldspar-magnetite alteration which is overprinted by a later mineralization phase chlorite-magnetite-pyrite-chalcopyrite event and an outermost zone of sericite-chlorite alteration extending vertically and laterally away from an intrusive granite source situated approximately 1km below surface.

Drilling below historical workings at Jukes in the 1970’s gave a best intercept of 13.4m @ 1.6% Cu and 1.6g/t Au from 61.6m (drillhole JP02) and channel sampling of historical adits returned further high-grade results including 16m @ 1.7% Cu and 1.4 g/t Au, 9m @ 1.55% Cu and 1.56 g/t Au and 2m @ 5.68% Cu and 5.8 g/t Au.  No further drilling has been carried out despite extensive surface exploration identifying broad alteration zones and outcropping mineralization with coincident anomalous magnetics and IP chargeability features extending northwards from the area of historical mining and drilling.

In May 2024, assay results from a combined 158m of continuous channel sampling of historical underground workings at the Jukes prospect were received. The results confirmed the high-grade tenure of copper and gold grades previously reported from drilling and underground sampling at the prospect.

In September 2023 CopperCorp reported results from its maiden drill program at the Dora prospect which included 29.0m @ 0.18 % Cu from 248m, including 4.0m @ 0.46% Cu and 0.12g/t Au and 31.4g/t Ag from 249m in drillholes D3-001 and 34.0m @ 0.12% Cu from 212m in hole D3-002.

The alteration types and mineralization styles in the Dora drill holes are consistent with those observed with IOCG mineralization at the Razorback property and further review and exploration is warranted at Dora and the other priority target areas at Walford Peak.

High Tor Property

The High Tor property covers 237 km² of ground situated approximately 5km along strike to the northeast of the Walford Peak property and within 4km of the world-class Hellyer VMS deposit. The property is considered prospective primarily for IOCG style mineralization, being a northern continuation of the Razorback – Walford Peak IOCG system.  Preliminary review work by CopperCorp has identified a high-priority IOCG style target at the Ten Mile Creek prospect where extensive hematite-sericite alteration, stockwork hematite veining and hematite matrix breccia occurs over a zone at least 2km in strike length and 50-100m wide and is spatially associated with magnetic and gravity high features and anomalous copper and gold geochemistry. Peak gold assays up to 8g/t Au have been returned from surface sampling, while up to 0.52g/t Au has been returned from shallow drilling (<50m) into hematite stockwork mineralization at Ten Mile Creek.