CopperBank begins drilling on its Copper Creek project in Arizona
VANCOUVER, BC /ACCESSWIRE/February 10, 2022/ CopperBank Resources Corp. (“copper bank“or the”Society“) (CSE: CBK) is pleased to announce the start of drilling on its 100% owned Copper Creek project, approximately 120 kilometers northeast of Tucson, Arizona.
Paul Harbidge, President and CEO, said, “After a decade-long hiatus at Copper Creek, the new team is delighted to begin our first drill program to test both high-grade mineralization near surface to advance the open pit concept, as well as holes to test the opportunity for underground bulk mining.”
Diamond drilling began on February 8, 2022;
Initial eight-hole 5,000 meter program designed to drill both high-grade copper, breccia and porphyry mineralization;
Ongoing geological model development through the re-recording of historical drill core and the interpretation and integration of historical datasets;
Launched a geotechnical program, including comprehensive assessments of surface and underground bulk mining opportunities;
Metallurgical data review underway, targeting a proactive testing program ahead of further near-term engineering studies; and
The survey program began with the collection of high resolution topographic data, updating survey controls and digitizing historical data.
Figure 1: Diamond drilling in hole #3
Copper Creek Phase I Drill Program (see Figure 2 below)
The diamond drill program is designed to test previously undrilled areas between zones of known high-grade mineralization, confirm historical drill results, obtain geotechnical information needed to advance mine planning, provide samples for metallurgical testwork and commence hydrogeological studies as outlined below:
Figure 2: 2022 Phase I Drill Program – Copper Creek, Arizona, USA
Hole #1 (~500 meters): Drilled Childs-Adwinkle breccias at Mammoth (north to south) to provide infill drilling between Childs-Adwinkle, White Bear and Mammoth breccias. Additionally, it will provide geotechnical information and seek to confirm historical drilling results from the Mammoth Breccia.
Hole #2 (~450 meters): Drilled below the Glory Hole breccia (north-northwest to south-southeast) at the northwest margin of the resource area and aimed at confirming mineralization hosted in several high-grade breccias.
Hole #3 (~500 meters): Drilled from the Glory Hole breccia southeast towards the Copper Prince breccia, targeting confirmation of high-grade mineralization at the Copper Prince breccia, in addition to testing the previously undrilled zone between the Glory Hole and Copper Prince breccias .
Hole #4 (~1,200 meters): Dipping northwest to southeast across the Copper Creek fault to the Keel deposit – the longest of the planned holes designed to provide geotechnical and structural information to support open pit potential – targeting the upper part of the high-grade Keel Zone below the Mammoth Breccia. Instruments will be installed to collect hydrogeological data.
Hole #5 (~550 meters): Drilled from the Copper Prince to the Copper Giant Breccia to the north, this infill drill hole is expected to expand existing resources and extend the Copper Giant Breccia below its current known extent.
Hole #6 (~500 meters): Drilled from the Copper Giant to the Copper Prince Breccia to the south and intended to better define the eastern extent of the Copper Prince Breccia, while allowing drill results below the known breccia bodies to the south.
Hole #7 (~800 meters): North dipping across the American Eagle resource, targeting a zone of mineralization above the American Eagle porphyry deposit, while providing geotechnical information for the planned underground mine design. Instruments will be installed to collect hydrogeological data.
Hole #8 (~500 meters): Drilled northeast to southwest below the historic Old Reliable mine site – for which no data exists below 300 meters from surface – and is designed to test areas below the breach and northeast of known mineralization.
In conjunction with the drilling program, a geological model for the Copper Creek deposit is being developed to support a new mineral resource estimate, which is currently expected to be completed in the third quarter of 2022. The scope of work includes an audit of previous mining forest, selected drill core, analysis of previous unsampled core, collection of hyperspectral data, and interpretation and integration of multiple technical datasets including lithology, petrography, geochemistry and geophysics.
Zach Allwright, Vice President of Projects and Assessments, said, “The team has taken a proactive approach to data collection at Copper Creek to ensure the provision of the highest quality technical assessment. As such, the comprehensive geotechnical program includes the recording of photos, the deployment of viewers in the main boreholes, structural analysis and geotechnical interpretation.A preliminary review of existing metallurgical data is underway to drive a work program of efficient and rigorous metallurgical testing later this year to supplement historical data and studies.
The technical information contained in this press release has been reviewed and approved by CopperBank’s Vice President of Exploration, Dr. Thomas Bissig, P.Geo, and CopperBank’s Vice President of Projects and Evaluations, Zach Allwright , P.Eng, both of whom are Qualified Persons as defined. by National Instrument 43-101 – Disclosure standards for mining projects.
About Copper Bank
CopperBank is a Canadian exploration company focused on advancing two copper projects in the United States of America. The Company trades on the Canadian Securities Exchange under the symbol “CBK”.
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Caution Regarding Forward-Looking Statements
Certain of the statements contained in this press release, other than statements of historical fact, are “forward-looking statements” and are based on the opinions and estimates of management as of the date such statements are made and are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that could cause the actual results, level of activity, performance or achievements of CopperBank to be materially different from those expressed or implied by such forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements regarding exploration prospects and projected resources of CopperBank properties, future capitalization and market capitalization of CopperBank, development and future drilling on the Copper Creek property, the information expected to be obtained from each drill hole, the expected timing for the completion of a geological model for Copper Creek and the timing of the completion of a review of existing metallurgical data.
Although CopperBank believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements should not be construed as guarantees of future performance and actual results or developments may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements or information.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: market prices for metals; the conclusions of the detailed feasibility and technical analyses; lower than expected qualities and quantities of resources; receipt of regulatory approval; receipt of shareholder approval; extraction rates and recovery rates; significant capital requirements; price volatility in the spot and futures commodity markets; exchange rate fluctuations; Taxation; political or economic controls, regulations and developments in the countries in which CopperBank does or may do business; the speculative nature of mineral exploration and development, competition; the loss of key employees; increased costs for labour, supplies, fuel and equipment; actual results of ongoing exploration or reclamation activities; accidents; labor disputes; defective title to claims or mining properties or disputes over claims to mining properties; delays and unforeseen costs inherent in consulting and accommodating the rights of Indigenous peoples and other groups; the risks, uncertainties and unforeseen delays associated with obtaining and maintaining necessary licenses, permits and approvals and meeting permit requirements, including those associated with the Copper Creek Property; and uncertainties regarding any future acquisition by CopperBank. In addition, there are risks and hazards associated with exploration, development and mining activities, including environmental events and hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and the risk of inadequate insurance or inability to obtain insurance to cover such risks together with the “Risk Factors” included in CopperBank’s disclosure documents filed and available at www.sedar.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction. This press release is not and should not be construed as a prospectus, offering memorandum, advertisement or public offering of securities of CopperBank in Canada, the United States or any other jurisdiction. No securities commission or similar authority in Canada or the United States has in any way reviewed or adopted this press release, and any statement to the contrary is an infringement.
All forward-looking statements contained in this press release are qualified by these cautionary statements. CopperBank does not intend and undertakes no obligation to update these forward-looking statements except as required by applicable securities laws. For more information on CopperBank, readers should refer to www.sedar.com for CopperBank’s filings with Canadian securities regulators.
THE SOURCE: CopperBank Resources Corp.
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