Vancouver, BC – Coast Copper Corp. (“Coast Copper” or the “Company”; TSX-V: COCO) is pleased to report the results of its 10 core holes (1,483.7 meters (“m”)) drilled in the spring of 2022 on the optioned Empire Mine property (the “Property”), the completion of an underground survey of the Kingfisher iron ore (magnetite) mine that was in operation from 1961 to 1967 and the completion of an independent review of the Property by Dr. James Oliver, P. Geo.
Adam Travis, Coast Copper CEO comments, “The 2022 drilling and underground survey have extended the known strike length of the north-northwest trending Raven Bluff Zone to over 150 metres and have made a new discovery in the Lower Marten area. More importantly, a recent independent Property review by Dr. James Oliver, based on field and drillhole observations, has identified a previously unknown regional thrust fault that may have acted as a conduit for mineralizing fluids over 1.0 km of strike length between the Marten Zone and the Raven Bluff area. Observations of regional geological mapping also indicate that this trusted contact may occur for greater than 2.5 km strike across the Property, outlining the potential for further significant mineralization targets. The recognition of the major controls to mineralization is a very important milestone in understanding the exploration potential at Empire.”
Spring 2022 Diamond Drilling
In the spring of 2022, Coast Copper completed 5 core drillholes in the Raven Bluff area, 2 drillholes in the Raven Pit area, 2 drillholes in the Marten Zone and 1 in the West Pipe Dike area. Please see Figure 1 for the drillhole locations and Table 1 for the significant results table.
The Raven Bluff gold-copper-cobalt-magnetite zone, defined by drilling and underground observations and sampling, is a north-northwesterly trending extensional zone that coincides with andesitic dike swarms which was drill tested in 2022 by 5 drillholes (MW22-20 to MW22-23 and MW22-26). The Raven Bluff Zone has now been extended to a strike length of 150 m with a vertical depth of 250 m below surface. This zone continues to be open in all directions. Higher grade intervals observed in drilling are associated with the intersection of extensional faults that chiefly occur along east-northeast and north-northwest orientations off the QT. Within the Merry Widow Pit area, stronger gold-copper-silver mineralization is noted in the footwall of the QT as mentioned above. To date, this thrust fault has not been drill tested in the Raven Bluff area, except for drillhole MW21-16 which ended in the thrust with 0.55 grams per tonne (“g/t”) gold (“Au”) and 1.06% copper (“Cu”) over 12.04 m. Future drilling in the Raven Bluff area will incorporate the new model type to target higher grade zones at the intersection of these extensional fault and thrust zones.
The Marten showing is a shallow, west dipping massive sulphide manto and was tested with two core drill holes. Drillhole MW 22-28 was drilled at depth to the west and returned 0.69 g/t Au and 0.17% Cu over 8.93 m including 9.05 g/t Au and 1.75% Cu over 0.41 m. This drillhole is proof of concept of the mineralizing role of high angle structures and provides further evidence of a previously unrecognized QT continuing southward from the Merry Widow Pit. Drillhole MW22-29 was drilled approximately 30 m to the south of MW22-28 but failed to reach target depth due to technical difficulties. Further drilling is proposed in the Lower Marten area and up to 750 m south toward the Bluebird area along the thrusted contact, in areas of previous surface showing and Induced Polarization anomalies.
The West Pipe Dike is a large magnetite dominant feature located at surface just east of the entrance to the Merry Widow Pit that was noted in historical records from the 1960’s, but overlooked during exploration drill programs in the 1990’s and early 2000’s. The intent of drillhole MW22-26 was to prove the continuity of this magnetite anomaly in the West Pipe Dike. The West Pipe Dike was intersected but not as fractured and mineralized as seen from underground, which could be due to the proximity of the thrust and the extensional faults. More work is required to better understand the West Pipe Dike.
Kingfisher Underground Mine Assessment
In April 2022, Coast Copper engaged both the McElhanney Group Ltd. and Procon Mining & Tunnelling Ltd. to complete a survey of the Kingfisher underground mine to test the viability of it being revitalized. The survey noted that ground conditions and airflow were generally quite good especially for workings that are greater than 50 years old. During this survey, Coast Copper personnel were also able to make geological observations and complete some chip sampling. A total of 33 samples were taken and submitted to MSA Labs in Langley, British Columbia. Highlights of the samples are included in Table 2.
The underground surveying indicates that the main Kingfisher level is up to 20 m lower in elevation then previously surveyed, which explains why several of the 2021 drillholes unexpectantly encountered underground workings.
Chip sampling and geological observations (see Figure 1) noted the southerly continuation of the structures and dikes from the Raven Bluff Zone, massive magnetite with chalcopyrite clots in the most southerly end of the workings (and outside of the historical resource) are a reminder that underground workings and open stopes were targeting the massive magnetite zones and not the copper and gold sulphide zones, which were avoided as they could contaminate the magnetite concentrate. Previous sampling focused on the massive magnetite and massive sulphide zones, but our sampling has indicated that gold and cobalt values can also be returned from areas with relatively modest sulphide zones associated with structures. Underground samples from the Company’s work in the main trend between the Kingfisher and Merry Widow pits returned individual samples up to 3.37 g/t Au, 0.97% Cu and greater than 1% cobalt. Interestingly, at approximately 35 m from the portal (adit entrance) was a previously unmapped zone of mineralization associated with dikes within the surrounding Quatsino Limestone and sample C0099931 returned 0.85 g/t Au and 2.62% Cu.
In May 2022, the Company installed a permanent, secured gate at the Kingfisher portal to restrict unauthorized access to the historical underground mine workings. Several safety berms were also installed to impede vehicular access to the Merry Widow and Kingfisher open pit areas.
In May 2022, Coast Copper engaged Dr. James Oliver, P.Geo. to complete field observation and provide an independent appraisal of mineral occurrences across the Property. Areas of interest included the Merry Widow mine area, Battle Mountain, Benson Lake Mine area and several known mineral occurrences. Dr. Oliver’s observations provide excellent insight into the structural and lithological controls on mineralization at Empire, which supplement our current knowledge base and will be used to refine drill targets for the next phase of exploration drilling. Some key observations from Dr. Oliver are:
- Mineralization is following the planar Quatsino Thrust (“QT”) seen in the Merry Widow deposit area and the planar regional scale unconformities (Old Sport Horizon). Both of those surfaces are regional-scale fluid pathways, which have a loose spatial relationship to the Merry Widow pluton.
- Within the larger planar surfaces and fluid pathways at both the QT and Old Sport Horizon, enhancement of mineralized zones are associated with steeper dipping faults and the contacts of discordant dikes coming off the QT and Old Sport Horizon.
- If both the QT and the Old Sport Horizon represent potential mineralizing fluid pathways, then the intersection of those two surfaces may represent a significant exploration target.
- All thrust faults dilate when they flatten, therefore it is recommended to look for flat rolls along the strike of the QT.
- Field observations and data suggest that the QT may be a regional-scale feature. Any occurrence developed along the trace of this thrust surface should take on a heightened significance. Enhanced property-scale magnetic or chargeability trends along the strike of the QT will also have greater exploration significance.
QA/QC Statement on Assay Results
The 2022 drill sample collection was supervised on-site by Coast Copper personnel and sub-contractors who inserted certified standards, blanks, and field duplicates consisting of quarter core samples into each batch of samples at regular intervals. Quality assurance and quality control (“QA/QC”) samples accounted for 8% of the total samples sent to the labs. Samples were sealed on site and shipped to MSA Labs for analysis. Samples were prepared by crushing the entire sample to 70% passing -2mm, riffle splitting of 1kg and pulverizing the split to better than 85% passing 75 microns. MSA Labs also conducts a rigorous QA/QC policy by inserting standards, blanks and conducting pulp duplicates on certain drill core intervals.
All samples were analyzed by 48 element ultra-trace 4-acid ICP digestion. Copper assays greater than 10,000 ppm and silver assays greater than100 g/t were reanalyzed with an Ore Grade method. The analytical results are verified with the application of industry standard QA/QC procedures. The gold assays were determined by 30g fire assay with AAS finish method which reports in parts per million (“ppm; equivalent to g/t). Any samples greater than 10.0 g/t gold were re-analyzed by fire assay method with a gravimetric finish.
The technical information contained in this news release has been prepared, reviewed, and approved by Wade Barnes, P.Geo. (BC) of Tripoint Geological Services, Coast Copper’s geological consultant and a Qualified Person within the context of Canadian Securities Administrators' National Instrument 43-101; Standards of Disclosure for Mineral Projects.
About Coast Copper Corp.
Coast Copper’s exploration focus is the optioned Empire Mine property, located on northern Vancouver Island, BC, which covers three historical open pit mines and two past-producing underground mines that yielded iron, copper, gold and silver. Coast Copper’s other properties include its 100% owned Knob Hill NW Property located on northern Vancouver Island and its Home Brew and Shovelnose South Properties which are located in central BC. Coast Copper’s management team continues to review precious and base metals opportunities in western North America.
On Behalf of the Board of Directors:
Adam Travis, Chief Executive Officer and Director
For further information, please contact:
Adam Travis, CEO
Coast Copper Corp.
409 Granville Street, Suite 904
Vancouver, B.C. V6C 1T2, Canada
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.