VANCOUVER, British Columbia, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF) (“Alpha,” Alpha Copper,” or the “Company”) a resource sector organization founded to create value through mineral exploration, technical development, and asset acquisition, is pleased to provide a brief introductory overview of its Okeover Copper-Molybdenum Project located in a highly accessible region of coastal British Columbia.
The Okeover (“Ok”) copper-molybdenum property encompasses 4,613 hectares (11,399 acres) located immediately north of the coastal City of Powell River, British Columbia. Since its discovery in 1965, Ok has been explored by several companies including Noranda Exploration, Asarco Exploration, Falconbridge Nickel Mines Ltd., Duval International Corporation, Lumina Copper Corp, and Eastfield Resources Ltd.
The property currently exhibits eight zones of mineralization which have so far been discovered over a north-south striking trend of approximately 5 kilometers. Of note, the North Lake Zone, received a 2006 historic resource calculation with an inferred 87 million tonnes grading 0.31% copper and 0.014% MoS2, (Carter N., for Eastfield, filed on Sedar, Nov 17, 2006). Between 1966 and 2008 one hundred and sixteen drill holes (116) totaling 19,000 meters have been completed.
Mores recently, the exploration focus at Okeover shifted to target generation aimed at evaluating probable continuation of mineralization north and south of the North Lake Resource Area. This work consisted of 1,923 soil samples, with 377 rock samples collected, and 28 kilometers of induced polarization surveying completed since 2010. Although no drilling has been completed since 2008, a small airborne geophysical program was completed in 2021.
The North Lake Zone resource is situated on the western side of a strong chargeable induced polarization feature and extends a further 250 meters westward beyond the edge of this response. Comparable signatures extend a further 1.4 kilometers in a northerly direction and approximately 1.0 kilometers in a southerly direction defining a target area of approximately 500 meters by 3,000 meters. Hole 72-15, with 0.29% Cu and 0.027% MoS2 over 59.5 meters, is found in this target area approximately 400 meters north of the North Lake resource area while hole 66-01, with 0.34% Cu and 0.021% MoS2 over 101 meters, is located 1,750 meters south of the resource area.
Located just forty-five minutes by car from Powell River, the deposits at the Okeover property share several commonalities with discoveries held by Island Copper located on Vancouver Island (BHP) and Quartz Hill Moly located on the Alaska Pan Handle (Cominco American Inc., now Teck Resources).
Alpha Copper CEO, Mr. Darryl Jones notes, “One of the most attractive aspects of this property is the sheer amount of available historic data which offers an excellent opportunity to implement a highly targeted approach to further unlocking the potential value of this asset. Of significant importance is the near proximity to a deep-water port facility in Powell River which presents an immense opportunity for the potential commercial viability of future mining operations. Direct, convenient, and cost-effective shipping access to global markets and pacific rim processors creates a compellingly attractive economic model at Okeover. With demand for copper heating up due to the relentless push for clean electric technologies, we are confident that this project will prove to play an important role in the strategic plans for Alpha Copper Corp.”
The Company also announces it has engaged TD Media LLC to provide investor relations services. The engagement is for an initial, renewable, period of six months and TD Media LLC has been paid $100,000 for its services over the initial six month term.
Finally, the Company is pleased to announce it has completed its listing on the OTC market in the United States, and commenced trading effective at the open on Thursday, January 27, 2022, under the symbol ALCUF.
This news release has been reviewed by J.W. Morton P.Geo who is the Qualified Person within the context of NI 43-101 and who takes responsibility for its technical content.
On Behalf of the Board of Directors,
~Darryl Jones~
Darryl Jones
CEO, President & Director
Alpha Copper Corp.
As part of the Company’s disclosure obligations as a public issuer, ongoing financial and material filings can be found under the Company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
Contact Alpha Copper
Invictus Investor Relations
+1 (604) 343.8661
walter@invictusir.com
About Alpha Copper Corp (CSE: ALCU) (OTC: ALCUF)
Alpha Copper is focused on contributing to the green economy by finding and developing copper resource assets in stable jurisdictions. The company is positioned to earn a 60% interest in the Indata copper-gold project located in north central British Columbia and a 100% interest in the Okeover copper-molybdenum project located near the coastal community of Powell River, British Columbia. For more information visit: https://alphacopper.com/.
Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
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