TSX.V: COCO
VANCOUVER, BC, Sept. 23,
2024 /CNW/ - Coast Copper Corp. ("Coast
Copper" or the "Company"); (TSXV: COCO) is pleased to
announce positive assay results from reconnaissance exploration
conducted at three of its six 100% owned mineral properties, all of
which are in the province of British
Columbia ("BC").
Coast Copper's generative program, which commenced in 2023, was
scaled up in 2024 resulting in the acquisition of two new projects
(Sully and Sweeney). The 2024 field programs involved early stage
exploration at three of the Company's six BC projects including its
flagship Empire Mine property on which Coast Copper published a
National Instrument ("NI") 43-101 mineral resource estimate
in May 2023. This news release
details results from exploration work performed on the Empire Mine,
Knob Hill NW and Sully projects, the aim of which was to identify
new target areas for follow-up work.
Highlights:
- Empire Mine "Big Zinc" target (Figure 1): rock
sample MWCM24-004 returned 1.37% zinc ("Zn") and 12.95 grams
per tonne ("g/t") silver ("Ag") and rock sample
MWCM24-005 returned 7.50% Zn, 1.16% lead ("Pb") and 56.45 g/t
Ag.
- Knob Hill NW Property "Coppertop" target (Figure
1; located approximately 5.5 km from Northisle Copper and Gold
Inc.'s ("Northisle") NW Expo Zone): rock sample KH2024R-001
taken in this area returned 0.16 g/t gold ("Au"), 41.6 g/t
Ag and 0.67% Copper ("Cu"). Moss matt samples KH2024MM-005
and 006 taken on the eastern side of the property returned 1.08
g/t Au and 1.40 g/t Au.
- Sully Property "South Red
Zone" target (Figure 2): rock sample Su2024R03
returned 0.94 g/t Au, 118 g/t Ag, 1.93% Cu and 0.19% Zn, and
rock sample SU2024R04 returned 1.81 g/t Au, 295 g/t Ag, 4.29% Cu
and 0.38% Zn.
Adam Travis, Coast Copper's CEO,
commented: "Over the past 4 months, we have successfully
completed reconnaissance exploration programs aimed at identifying
new target areas for follow-up exploration at 3 of our 6 projects.
While this kind of work is not expensive, it is an important first
step and a critical part of our generative program allowing us to
better understand and advance each of our projects. We committed to
our generative program as part of our May
2024 financing, and we have delivered on all of our stated
objectives. This work puts Coast Copper in a strong position to
take advantage of the rising market with multiple projects at
varying levels of advancement, including the Benson Lake mine area
within our Empire Mine property, which is drill ready. Our project
portfolio now includes base metal, industrial metal and precious
metal potential and we continue to develop new target zones having
strong prospectivity. We are compiling and interpreting our latest
results, and together with the historical information and other
studies, they will form the next steps for each project, including
drilling planned for 2025."
Empire Mine Property
Throughout 2024, Coast Copper expanded the Empire Mine property
to the northwest through staking and the property now covers 17,125
hectares ("ha"; 42,316 acres) along a prospective trend that
stretches over 25 kilometers ("km") including 28 known
mineral occurrences. The northwest area of Empire Mine is known as
Big Zinc and is historically known as prospective for zinc, lead
and silver, with a similar geological setting as the Merry Widow
deposit (located 16 km southeast). Approximately 4,500 tonnes of
ore grading between 4 to 5% Zn was reported to occur in surface
exposures in 1974, and in 2017 a sample from the zone yielded 1.43%
Zn ¹.
A total of 16 soil, 11 rock and 5 moss matt* samples were
collected over the northwest section of the Empire Mine property
(see Figure 1). Rock sample MWCM24-004 returned 1.37% Zn and 12.95
g/t Ag and sample MWCM24-005 returned 7.50% Zn, 1.16% Pb and 56.45
g/t Ag. These assay results are consistent with the historical
results in the Big Zinc area and show the potential for district
scale polymetallic mineralization at Empire. Additional work in
this area is proposed.
Knob Hill NW Property
In July 2024, a total of 30 moss
matt*, 14 soil and 2 rock samples were taken at the Knob Hill NW
property, which is located to the west of Northisle's recent
discoveries at the NW Expo zone². The soil and moss matt samples
had elevated copper in the southwest area around magnetic highs and
along trend with Northisle's copper-gold Porphyry deposits². For
example, rock sample KH2024R-001 taken in this area returned 0.16
g/t Au, 41.64 g/t Ag and 0.67% Cu (see Figure 1). This area is
prospective for porphyry copper-gold potential. Moss matt samples
KH2024MM-005 and 006, taken along the eastern portion of the Knob
Hill NW property, returned 1.07 and 1.40 ppm Au, this zone is
located approximately 5.5 km of northwest of Northisle's NW Expo
zone ². The Knob Hill NW property is an early-stage exploration but
is located at the western end of a 50 km trend that originates from
the past producing Island Copper Mine and passes through
Northisle's property. The results encountered thus far have been
very encouraging and consequently, the Company conducted a second
phase program in early September to follow up on the positive
results and is awaiting the results from this program.
Sully Property
A total of 11 rock, 22 stream and 27 soil and 2 moss matt*
samples were collected at the Sully property over a 5-day period in
July 2024 as part of an initial
reconnaissance for Sullivan-style massive sulphide, intrusive
related copper, gold and molybdenum ("Mo") and structurally
related base and precious metal deposit potential. Soil sample
SU2024S-005 returned 4.23 ppm Ag, 460.5 ppm Cu, 1,138.6 ppm Pb and
456 ppm Zn. Rock sample Su2024R03 returned 0.94 g/t Au, 118
g/t Ag, 1.93% Cu and 0.19% Zn, and rock sample SU2024R04 returned
1.81 g/t Au, 295 g/t Ag, 4.29% Cu and 0.38% Zn. Additionally,
samples around the Jolly Molly minfile occurrence had elevated
copper, molybdenum and tungsten levels near a mapped intrusion
showing the potential for a copper-molybdenum porphyry discovery.
See Figure 2 for Sully map.
A review of the historical data revealed a gravity geophysical
survey, completed in 2013 ³, with anomalies that have not been
followed up and could represent areas of denser sulphide
accumulations.
These results are very encouraging and highlight the potential
for both Sullivan-style massive sulphide deposits and copper, gold
and molybdenum porphyries. Coast Copper will be conducting a second
phase program in late September to follow up on these initial
results as well as complete geochemical sampling and geological
observations in areas that were not visited in the first
program.
Other Property Work
Coast Copper continues to evaluate other projects through
research, and once modest property examinations have been
completed, if the properties meet the Company's criteria, they will
become part of the Company's property portfolio through staking or
purchase.
Quality Assurance/Quality Control ("QA/QC")
Procedures
Soil samples were taken at 25 m
spacings when possible and by up to 50
m spacings in areas of interest. All samples were taken from
the B horizon soil profile.
Sampling completed on the projects in 2024 was supervised by
on–site Coast Copper personnel and sub-contractors who collected
and tracked samples and implemented a full QA/QC program using
blanks, standards and duplicates to monitor analytical accuracy and
precision. The samples were sealed on site and shipped to MSA Labs
in Langley BC for analysis. MSA
Labs' quality control system complies with global certifications
for Quality ISO9001:2008. Soil samples were dried and screened to
80 mesh and then analyzed in 20g samples with multi-element ICP-MS
Aqua Regia digestion (IMS-131and IMS-128. Rock samples were dried
and crushed to 70% passing 2mm mesh and split to 250g samples which
were pulverized to 85% passing 75μm and then analyzed by 4-acid
digestion with a ICP-MS finish (IMS-230). Gold contents were
analyzed by fire assay 30g sample with an AA finish
(FAS-111). Sully Rock samples were analyzed for Gold,
Platinum and Palladium by fire assay with a ICP-ES finish on a 30g
sample. Ag samples >100 ppm were analyzed ICF-Ag. Copper, Zinc
and Lead assays greater than 10,000 ppm were completed with
ICF-6**, 4acid, ICP-AES ore grade analysis.
Qualified Persons
The technical information contained in this news release has
been prepared, reviewed, and approved by Wade Barnes, P.Geo. (BC), Coast Copper's
geological consultant and a Qualified Person within the context of
the Canadian Securities Administrators' NI 43-101; Standards of
Disclosure for Mineral Projects.
About Coast Copper Corp.
Coast Copper's primary exploration focus is the 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. In 2023, Coast
Copper launched a generative program aimed at advancing its other
properties in parallel with Empire. In 2024, Coast Copper acquired
two new projects bringing its total number of 100% owned projects
in BC to six, consisting of the mineral titles comprising the
Empire Mine property, the Sully property located in southeastern
BC, the Knob Hill NW property located on northern Vancouver Island,
the Home Brew property located in central BC, its Sweeney property
located in the central interior of BC, and its Scottie West property located in the "Golden
Triangle" of northern 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"
Adam Travis, Chief Executive
Officer and Director
NR24-11
Cautionary Notes/Footnotes related to News
Release/Maps
¹ Big Zinc Minfile Record Summary 092L
314. https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L++314
² This news release may contain information about adjacent
properties on which Coast Copper has no right to explore or mine.
Investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on the Company's
properties.
³ Technical Report Premier Lake Property, BC Assessment Report
34204. September 15, 2013
⁴ Jolly-Molly Minfile Record Summary 082GNW 057.
https://minfile.gov.bc.ca/Summary.aspx?minfilno=082GNW057
* Moss matt samples were collected in areas of high runoff
mountainous areas where traditional stream silt sample collection
is problematic; sampling of the base or Matt of moss accumulations
from boulders within creeks has been shown to be very effective
method for sampling of stream sediments
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
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 a guarantee 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.
SOURCE Coast Copper Corp.
