- At the Jogran Porphyry target, both holes J-23-01 and J-23-02 intersected broad zones of copper mineralization (194 m from 4-198 metres and 137 metres from 4-141 metres, respectively). Mineralization is exhibited as chalcopyrite + molybdenite ± bornite + pyrite + pyrrhotite disseminations and in quartz veinlets hosted in a quartz-sericite-pyrite (Phyllic) altered quartz monzonite porphyry.
- At the Richards Breccia target, two of four holes (R-23-01 and R-23-04) encountered wide intersections of copper mineralization (37 metres from 76-113 metres and 49 metres from 80-129 metres, respectively). The mineralization at Richards consists of chalcopyrite + pyrite ± pyrrhotite ± chalcocite aggregates, disseminations, and veinlets hosted in a chlorite-sericite-carbonate-pyrite altered breccia.
TORONTO, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Copper Road Resources Inc. (TSX-V: CRD) ("Copper Road" or the "Company") is pleased to announce broad intersections of visible copper mineralization at the highly prospective JR Zone copper porphyry and breccia targets at its Copper Road Project in Batchewana Bay, Ontario.
John Timmons, President & CEO of Copper Road, comments:
“We are eager to see the assays from the JR Zone, over the past year we completed 4,200 metres of diamond drilling and have established both the Tribag and JR Zones as large-scale at-surface Cu-Mo-Au-Ag targets. The JR Zone is in the centre of 30 kilometres of mineralization with two past producing high grade copper mines, the Coppercorp to the southwest and the Tribag to the northeast.
The Company believes this region has the potential to deliver several much larger copper-dominant polymetallic deposits based on the extensive Cu-Mo-Au-Ag mineralization throughout this contiguous 24,000-hectare project.”
Photo 1: R-23-04 at 81 to 90 metres (Richards Breccia) - Coarse aggregates and veinlet fills of chalcopyrite + pyrite + pyrrhotite ± chalcocite in altered breccia.
The company believes that the JR zone has a current footprint of copper mineralization that’s 1.5 kilometres long and 550 metres wide (open) based on reconnaissance MMI soils lines and historical data compilation completed by the company (see press release dated June 6, 2023).
The JR Zone is just one of several alkalic porphyry targets across the property, which also includes, among others, the former Tribag Mine, Con-Negus, and Gimlet Lake. (see Map 1) The Company currently compares these targets to well-known alkalic porphyry deposits and clusters in British Columbia, such as Galore Creek, Mt. Milligan, Mt. Polley, Afton-Ajax (Iron Mask) and Copper Mountain.
Map 1: Copper Road Project
The Summer 2023 Drill Program
The JR Zone (see Map 2) is located approximately 12 kilometres southwest of the former Tribag Mine which the Company drilled in 2022 (see press release dated October 13, 2022). The 2023 drill program tested the Jogran porphyry and Richards breccia targets which are approximately 1 kilometres apart. The program consisted of 7 drill holes totaling 1,224 metres and was designed to test the extent and continuity of the mineralization encountered in previous historical exploration by Jogran Mines and Aurogin Resources. The Company will release final assay results as they are received.
Map 2: JR Zone Long Section
Two (2) drillholes were completed at Jogran Porphyry (see Map 3). Drill holes J-23-01 and J-23-02 were located in the vicinity of historical drill holes JDH-13 and JDH-16 to confirm historical results near surface and to extend the mineralization at depth. Both recent drill holes intersected broad zones of copper mineralization (194 metres from 4 to 198 metres and 137 metres from 4 to 141 metres, respectively). Mineralization is exhibited as chalcopyrite + molybdenite ± bornite + pyrite + pyrrhotite disseminations and in veinlets, hosted in a phyllic (quartz-sericite-pyrite) altered quartz monzonite porphyry (see Photo 2).
Map 3: JR Zone - Jogran Porphyry - Drill hole location map
Photo 2: J-23-02 at 72 m (Jogran Porphyry) - Close-up view of altered Quartz Monzonite Porphyry with disseminated chalcopyrite + molybdenite ± bornite ± chalcocite + pyrite + pyrrhotite sulphide blebs and cross-cutting quartz-carbonate veinlets containing chalcopyrite + molybdenite ± pyrrhotite.
Notably the copper and molybdenum mineralization also extends into the mafic volcanic wall rocks with an increase in occurrence of bornite mineralization at depth from 315-346 metres (31 metres). The mineralization in the mafic volcanics is associated with localized and discrete zones of magnetite-biotite (potassic) alteration along a 121 metre stretch from 225-346 metres.
Five (5) drillholes were completed at Richards Breccia and vicinity (see Map 4). Drillholes R-23-01 and R-23-04 tested the historical results of ARD98-07 and AR97-25 at depth and successfully extended the breccia 50 to 60 metres vertically below known mineralization.
Map 4: JR Zone - Richards Breccia – Drill hole location map
Both drillholes R-23-01 and R-23-04 encountered wide intersections of copper mineralization (37 metres from 76 to 113 metres and 49 metres from 80 to 129 metres, respectively). Mineralization is exhibited as chalcopyrite + pyrite ± pyrrhotite ± chalcocite aggregates, disseminations, and veinlet fills hosted in a chlorite-sericite-carbonate-pyrite altered breccia (see Photo 3).
Photo 3: R2301 at 101 metres (Richards Breccia): Close-up view of Breccia showing fine to coarse aggregates of chalcopyrite-pyrite mineralization.
The Company will develop additional drill targets in the JR Zone after receipt and analysis of assays. The Company also plans to advance the JR and Tribag Zones with robust semi-3D IP/MT surveys and additional MMI geochemistry soil lines, both to expand current targets and further delineate additional regional exploration targets for drill testing.
Qualified Person
Augusto Flores IV, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.
Quality Assurance and Quality Control (QA/QC)
QA/QC include the systematic insertion of blanks and certified reference materials (CRM), with blanks and CRM making up about 10% of the sample stream. Drill core samples are logged, and samples were split into half using a diamond core saw. The other half of the drill cores are stored on site in a safe and secure facility. Half-core samples are labelled, placed in sealed bags, and shipped directly to ACTLABS in North Bay, ON, an accredited mineral analysis laboratory.
About Copper Road Resources
Copper Road Resources Inc. is a Canadian based explorer engaged in the acquisition, exploration and evaluation of properties for the mining of precious and base metals. The Company is exploring for large copper/gold deposits on the 24,000-hectare Batchewana Bay Project, 80 km north of Sault St. Marie, Ontario, Canada.
For further information, please contact:
John Timmons
President/CEO and Director
Copper Road Resources Inc.
Cellular: (416) 931 2243
Email: jtimmons@copperroad.ca
Web: www.copperroad.ca
Caution Regarding Forward-Looking Information
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Copper Road. Forward-looking statements include estimates and statements that describe Copper Road Resource’s future plans, objectives or goals, including words to the effect that Copper Road Resources or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Copper Road Resources, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, details of the exploration results, potential mineralization, Copper Road Resource’s treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions.
Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure or inability to complete the Offering on disclosed terms or at all, regulatory approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Copper Road Resources disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4ba17c89-9f91-4a34-bc5f-b540d2fbc471
https://www.globenewswire.com/NewsRoom/AttachmentNg/6842a92d-0837-43ce-ba7b-3bf15a9b3c78
https://www.globenewswire.com/NewsRoom/AttachmentNg/d5bd36a4-8216-48e4-8abd-786137413b78
https://www.globenewswire.com/NewsRoom/AttachmentNg/bea016e6-5951-4b96-9116-8081463ced41
https://www.globenewswire.com/NewsRoom/AttachmentNg/9d9aab7c-e7da-4a01-a045-76c04f95acb3
https://www.globenewswire.com/NewsRoom/AttachmentNg/5f23c36f-615b-44e8-a75b-ae8a770020b5
https://www.globenewswire.com/NewsRoom/AttachmentNg/f48050c2-cfc2-4f6d-9d39-5072ffff9815
