VANCOUVER, BC, Feb. 1, 2022 /CNW/ - Coast Copper Corp.
("Coast Copper" or the "Company") (TSXV: COCO) announces
assay results for the second batch of samples from its initial 19
drillhole (2,346 metre ("m")) core drilling program
completed in December 2021 on its
optioned Empire Mine Property (the "Property"); see news
releases dated December 20, 2021
and January 25, 2022. Results
reported in this news release are from two drillholes and one
partial drillhole (MW21-015, partial 016 and 017) located in the
Raven Bluff and Raven Pit approximately 200
m north of the past-producing Merry Widow magnetite iron ore
open pit mine (see Figure 1). Drill highlights include 7.18
grams per tonne ("g/t") gold ("Au") and 3.17% copper ("Cu")
intersected over 16.3 m at Raven
Bluff: and 6.2 g/t Au over 1.67
m at Raven Pit. See Table 1 for full list of
highlights.
![COCO NR2022-02 Figure 1 (CNW Group/Coast Copper Corp.) COCO NR2022-02 Figure 1 (CNW Group/Coast Copper Corp.)](https://mma.prnewswire.com/media/1737907/Coast_Copper_Corp__Coast_Copper_Makes_New_Copper_Gold_Discovery.jpg)
The objective of drilling at the Raven Bluff and Raven Pit
targets was to test parts of the Property that, despite numerous
recommendations made over the years since 1988 by consultants, had
remained undrilled. The 2021 drillholes encountered significant
copper and gold intercepts and more drilling is clearly
warranted.
At Raven Bluff (see Figure 1) a detailed review of
historical records, compilation of previous geological mapping and
our own site inspections indicated that sulphide mineralization was
more likely associated with north-northwesterly trending greenstone
dykes within a 200 m x 200 m area that has never been adequately tested.
Coast Copper's drillholes MW21-015 & MW21-016 were
drilled as a preliminary test of this hypothesis and were
successful in intercepting semi-massive chalcopyrite and pyrrhotite
bands, in core lengths up to 16.28 m,
associated with the margins of the greenstone dykes. These
sulphide-rich mineralized zones intercepted in hole MW21-015,
occurring as deep as 100 m below
surface (see Figure 2 and Table 1), gave assays of up to 7.18 g/t
Au, 3.17% Cu over 16.28 m. Assay
results have only been partially completed for drill hole MW21-016,
which was drilled below drillhole MW21-015 returned initial assay
results up to 0.55 g/t Au and 1.06% Cu over 12.04 m and suggestive that the mineralization at
Raven Bluff persists to depth. Detailed controls to mineralization
are still being determined and complete assay results are awaited
for the rest of MW21-016.
Table 1: 2021
Empire Drill Program Significant Raven Bluff Raven Pit Drill
Results
|
Zone
|
Hole
ID
|
From
(m)
|
To
(m)
|
Interval**
(m)
|
Au
(g/t)
|
Cu
(%)
|
Silver
("Ag")
(g/t)
|
Cobalt
("Co")
(%)
|
AuEq***
(g/t)
|
CuEq****
(%)
|
Raven
Bluff
|
MW21-015
|
15.76
|
16.30
|
0.54
|
4.67
|
5.81
|
38.6
|
0.192
|
16.62
|
10.10
|
and
|
56.55
|
57.47
|
0.92
|
12.90
|
0.65
|
16.4
|
0.009
|
14.27
|
8.67
|
and
|
77.53
|
79.42
|
1.89
|
11.47
|
0.51
|
13.7
|
0.011
|
12.60
|
7.65
|
and
|
97.78
|
114.06
|
16.28
|
7.18
|
3.17
|
47.8
|
0.056
|
13.57
|
8.25
|
including
|
100.46
|
105.16
|
4.70
|
16.86
|
0.22
|
1.7
|
0.004
|
17.28
|
10.50
|
including
|
110.70
|
114.06
|
3.36
|
4.64
|
12.51
|
197.6
|
0.209
|
29.87
|
18.15
|
MW21-016
|
208.55
|
211.27
|
2.72
|
0.31
|
0.47
|
4.6
|
0.007
|
1.21
|
0.74
|
and
|
266.96
|
279.00
|
12.04
|
0.55
|
1.06
|
12.2
|
0.007
|
2.52
|
1.53
|
including
|
272.25
|
273.91
|
1.66
|
1.43
|
4.38
|
60.2
|
0.026
|
9.68
|
5.88
|
including
|
278.00
|
279.00
|
1.00
|
2.49
|
3.49
|
30.2
|
0.021
|
8.84
|
5.37
|
and
|
295.35
|
297.00
|
1.65
|
1.40
|
0.20
|
2.8
|
0.002
|
1.79
|
1.08
|
Raven
Pit
|
MW21-017
|
31.00
|
32.67
|
1.67
|
6.20
|
0.002
|
0.4
|
0.000
|
6.21
|
3.77
|
and
|
32.67
|
34.70
|
2.03
|
0.36
|
0.28
|
9.9
|
0.067
|
1.61
|
0.98
|
and
|
53.90
|
54.85
|
0.95
|
0.22
|
0.40
|
2.1
|
0.017
|
1.07
|
0.65
|
*The intervals reported in this table represent drill intercepts
and insufficient data is available at this time to state the true
thickness of the mineralized intervals. **The Metal prices used in
CuEq and AgEq calculations are as follows: Gold $1750/oz, Silver $23.00/oz, Copper $4.20/lb and Cobalt $25/lb. Recoveries are assumed to be 100% for the
purposes of equivalent calculations.*** The AuEq formula used for
calculations is: AuEq g/t = Au g/t + (Cu % x 1.65) + (Ag g/t x
$0.013) + (Co % x $9.80).****The CuEq formula used for calculations
is: CuEq % = Cu % + (Au g/t x $0.608) + (Ag g/t x $0.008) + (Co % x $5.95)
Historical records indicate that the 21
m wide, north-trending Raven magnetite deposit with
associated sulphides: pyrrhotite, pyrite, sphalerite and
chalcopyrite was mined in the Raven Pit during 1959. As a
magnetite resource, its high sulphide content made the Raven
deposit uneconomic and after extracting about 22,000 tons, the
Raven deposit was abandoned and later backfilled with waste rock
from the Merry Widow Pit (J. Lund
1966). A substantial body of massive pyrrhotite, with lesser
chalcopyrite and pyrite (with gold and silver values reportedly
associated with these sulphides), cut by late occurring
calcite-sphalerite veins, was described as occurring near the Raven
Pit's eastern boundary². Coast Copper's drillhole MW21-017
(see Figure 2 and Table 1 and 2) is the first ever drillhole to be
drilled under the backfilled Raven Pit and, after passing through
30 metres of waste dump material, immediately cored into
4.70 m of semi-massive pyrrhotite and
chalcopyrite that assayed 6.2 g/t Au over 1.67 m followed by 2.03
m grading 0.36 g/t Au and 0.28% Cu. Deeper in the hole,
other bands of massive magnetite of up to 8. 6m were encountered. It is important to note that
it appears that this drillhole clipped the top of the zone and now
that the historical pit and mineralization has been re-located
subsequent drillholes can be properly located to test the entire
reported widths of this > 20 m
wide zone.
Adam Travis, Coast Copper's CEO
commented, "We have now reported two new gold discoveries at
Raven Bluff and Raven Pit, one of ten main target areas on the
Property, to go along with our significant copper and gold
results released last week, which I would encourage everyone to
read. Our drill success at Raven Bluff opens up at least a
200 m x 200
m target area. These new discoveries confirms our belief
that additional areas on the Property are prime exploration targets
for new copper and gold discoveries as previous operators either
focused on the mining of magnetite or drilling in the Merry Widow
Pit. Even within the Merry Widow area which is a small
portion of the overall Property zones such as South Pit, Lower
Marten and Whiskey Jack have not been drilled. This is also another
step forward in proving that the Empire Mine Property covers a
large district scale potential with multiple target types
(magnetite, copper/gold and zinc skarns, gold and copper veins,
Iron Oxide Copper-Gold) that have seen little to no modern
exploration. We look forward to adding this drill core to our
display at the AMEBC Roundup conference February 3rd and 4th, 2022
in Vancouver, B.C."
Coast Copper will continue to update its geological
interpretation and modelling and will report additional assay
results once received. Photos of select drill core will be
available on the Coast Copper website under the Empire Mine
Property tab.
Table 2: Drill
Hole Locations, Azimuth and Dip
|
Hole
ID
|
Easting
|
Northing
|
Elevation
m
|
Total Length
(m)
|
Azimuth
|
Dip
|
Size
|
MW21-015
|
624343.6
|
5579888
|
703.803
|
148.5
|
77
|
-45
|
NQ
|
MW21-016
|
624343.2
|
5579887
|
703.85
|
309.0
|
80
|
-60
|
NQ
|
MW21-017
|
624299.6
|
5579882
|
704.577
|
84.0
|
288
|
-45
|
NQ
|
QA/QC Statement on Assay Results
The 2021 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. QA/QC
samples account for 8% of the total samples sent to the labs.
Samples were sealed on site and shipped to MSALABS in
Langley, British Columbia 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. MSALABS 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 >10,000 ppm and Ag assays >100 g/t
were reanalyzed with an Ore Grade method. The analytical
results are verified with the application of industry standard
Quality Assurance and Quality Control ("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.
Iron ore analysis was determined by borate fusion and XRF
finish.
Qualified Persons
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 Eldorado, Gin and Bonanza properties located
in BC's prolific Golden Triangle district which are adjacent to
Newcrest Mining Limited's and Imperial Metals Corporation's
Red Chris Mine, its Knob Hill NW
Property located on northern Vancouver Island and its 100% owned
Sterling, Sandy and Home Brew 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"
Adam
Travis, Chief Executive Officer and Director
NR22-02
Cautionary Notes Related to this News Release and/or
maps
- NI 43-101 Technical Report: Giroux, G.H., & Raven, W.
(November 30, 2008). Technical Report
on the Copper Gold Resources for the Merry Widow Property. Filed on
SEDAR January 22, 2009. The 2008
Grand Portage resource estimate was completed by Gary H. Giroux, P.Eng, MASc, of Giroux
Consulting Ltd. in Vancouver, B.C.
The estimate was based on a 3D geological model integrating 4,448
metres of diamond drilling of 43 drill holes, 2,290 assays, with
104 down-hole surveys collected between June and December 2006. The resource was reported
utilizing gold cut-off grades ranging from 0.10 g/t to 3.00 g/t
gold, as more particularly set out in the report. A complete copy
of the report is available on Grand Portage's public filings on
SEDAR (www.sedar.com). A gold cut-off grade of 0.50 g/t gold was
selected as representing one possible mining scenario. For the
purposes of the calculations, lognormal cumulative frequency plots
were used to assess grade distribution to see if capping of high
values was required and if so at what levels. For all elements,
capping levels were established based on the individual grade
distributions as follows: Gold -- a total of 18 gold assays were
capped at 32.0 g/t gold, Silver --a total of 9 silver assays were
capped at 165 g/t silver, Copper -- a total of 7 assays were capped
at 11.7% copper, Cobalt -- a total of 5 assays were capped at 0.48%
cobalt, Iron -- all iron assays were capped at 50% iron (the
analytical detection limit).
- 2017 Prepatory/Physical Report for the Blue Gold
Project. Dan P. Berkshire, James
Hume. April 15, 2018. British
Columbia Geological Survey Assessment Report 37,471.
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.
![COCO NR2022-02 Figure 2 (CNW Group/Coast Copper Corp.) COCO NR2022-02 Figure 2 (CNW Group/Coast Copper Corp.)](https://mma.prnewswire.com/media/1737908/Coast_Copper_Corp__Coast_Copper_Makes_New_Copper_Gold_Discovery.jpg)
SOURCE Coast Copper Corp.