Toronto, August 2nd, 2022 – Canadian Copper Inc. (“Canadian Copper” or the “Company”) (CSE:CCI) is pleased to announce positive exploration results from its first seven (7) drill holes at its Chester Copper Project (“Chester”) located in the Bathurst Mining Camp, New Brunswick, Canada.
“Today’s announcement is a key milestone for Canadian Copper! We are grateful to each of our initial private investors for their support. This achievement required a collective effort from many key stakeholders and third-party professionals. Thank you! Our asset portfolio of copper and base metal properties is in Canada’s prolific Bathurst Camp of New Brunswick. The Company is currently developing a new mineral resource estimate (“MRE”) at the Chester Property. The MRE results are expected in the H2 of 2022. “
Phase (1) Highlights:
- Hole C21-05: 10 meters of 1.4% copper and 1.8% zinc from 12.5 meters, confirming near-surface massive sulphides.
- Hole C21-06: 23.5 meters of 0.79% copper and 0.9% zinc from 5.5 meters, confirming near-surface massive sulphides.
- Hole C21-07: 0.75 meters of 3.55% copper, 0.95 meters of 1.4% copper, 0.65 meters of 1.05% copper, 1.00 meters of 0.87% copper, 1.00 meters of 0.72% copper from 386 meters, confirming several copper vein systems extensions to the Stringer Zone at depth and the deepest known mineralization at the project to date.
The objectives of Phase 1 drilling were to:
- Test mineralized extensions at depth along strike of the Copper Stringer Zone.
- Test four (4) regional anomalies outside of the known deposit identified by previous prospecting activities. Exploration methods included geological mapping, trenching, and certain geophysics and geochemical anomalies.
- Confirm the near-surface massive sulphide (“MS”) gossanous Central and East Zone continuity. Previous trenching samples returned surface values of +1.0 gpt Au from this zone.
Each of the above stated objectives were met by these seven drill holes. The Copper Stringer Zone represents a wide mineralized copper system and extends laterally, at depth, and warrants additional exploration. Two (2) of four (4) regional drilling targets returned anomalous values for copper, silver, and zinc that warrant further exploration work. The MS targeted area supported grade and zone continuity and confirmed the presence of other metals primarily gold (C21-06: 0.39 g/t Au over 4.0m) and silver in the near-surface gossan zone. See Table 1 for additional drilling results.
The Company will release results from the Phase 2 Program once all assay results are received and interpreted. Phase 2 objectives are targeting historical resource validation requirements, exploring gaps within known resource zones, and testing for presence of gold and silver mineralization within mineralized areas.
During 2021, the Company and its predecessor operator Puma Exploration Inc. (“Puma”) completed 33 holes for a total of 3,324 meters at the Chester Property. The exploration activities occurred in two phases. Phase one (1) drilling was performed by Puma during February and March 2021 and consisted of seven (7) holes totaling 1,785 meters. Phase two (2) drilling was performed by the Company during November and December 2021 and consisted of 26 holes totaling 2,139 meters.
About the Chester Copper Project
Chester is a volcanogenic massive sulphide (“VMS”) resource containing three (3) zones; the Central Zone (massive Sulphide), the East Zone (massive sulphide), and the West Zone (Copper Stringer), which are all located near surface as shown in Figure 3. Previous mining development in 1974 included a 470-meter decline targeting the West Zone and produced 30,000 tonnes of bulk samples grading +2.0% copper (Geoscience Canada, McCutcheon, 2020). No other development has occurred on the property.
Figure 3: Chester Deposit Cross Section
Table A: Chester Historical Mineral Estimate (Sim, 2014)*
NI 43-101 Technical Report entitled “Technical Report – Chester Copper Property New Brunswick Canada” (effective March 07, 2014) prepared by Robert C. Sim, P. Geo., for Explor Resources and filed on www.sedar.com (Sim, 2014).
Canadian Copper is not treating the “historical resources estimate” as a “current resources estimate” or “mineral reserves”, as it has not taken steps to identify what work needs to be done to verify, upgrade or re-classify the “historical resources estimate” using a qualified person from Puma or independent third party.
Table 1: Phase 1 Chester Project Drilling Results
Table 2. Phase 1 Chester Project Drill Locations
Figure 1: Chester Core Hole ID: C21-06
Figure 2: Chester Core Hole ID: C21-07: Copper Stringer Zone Extension
About the Bathurst Mining Camp
The Company is focused on the prolific Bathurst Mining Camp of New Brunswick, Canada. This region is a world class mining district with thirteen (13) former mining operations and hosts more than forty-five (45) known volcanogenic massive sulphide (“VMS”) deposits. Our flagship Chester Project is 75 km south of the renowned Brunswick #12 mine that operated for 5 decades. New Brunswick has the modern infrastructure needed for mineral exploration and mine development coupled with a clear and well-established regulatory environment.
Dominique Gagné, PGeo, is a qualified person as defined by Canadian National Instrument 43-101 standards. Mr. Gagne has reviewed and approved the geological information reported in this news release.
Quality Assurance/Quality Control (QA/QC)
Phase 1 drilling samples were bagged, sealed by Geominex and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns.
About Canadian Copper Inc.
Canadian Copper is a Canadian-based mineral exploration company with a copper and base metals portfolio of historical resources and grassroots projects. The Company is focused on the prolific Bathurst Mining Camp (BMC) of New Brunswick, Canada.