CopAur Drills 26 Metres of 2.22 g/t Oxide Gold; Including 10.7 Metres of 4.2 g/t Oxide Gold Outside Resource Pit Shell
Vancouver, British Columbia--(Newsfile Corp. - October 4, 2023) - CopAur Minerals Inc. (TSXV: CPAU) (OTCQB: COPAF) ("CopAur" or the "Company") is pleased to announce results of the first four (4) reverse circulation (RC) drill holes targeting near surface oxide gold at the Company's flagship Kinsley Mountain Gold Project (the "Kinsley Mountain Project" or "Kinsley Mountain") in Elko County, Nevada.
Kinsley Mountain is a unique property, located 90 km south of the Long Canyon Mine1, hosting eastern Great Basin Carlin-type high-grade sulphide Gold (Western Flank Zone) and near surface oxide gold resources (Main Pit North target).
The four RC holes reported today targeted near surface oxide gold mineralization within the Main Pit North area located 1 km southeast of the Western Flank Zone (Figure 1). Drilling at Main Pit North during 2020 by the Company intersected high grade near surface oxide gold intercepts with the gold hosting Dunderberg shale 75 metres outside the current resource pit shell providing opportunities for near pit resource expansion.
Diamond drill hole KMR23-03, collared 200 metres north of the current pit shell, returned 2.22 2.22 grams-per-tonne (g/t) gold (Au) oxide over 25.9 metres; including 4.2 g/t Au oxide over 10.7 metres (Table 1 and Figure 2).
The intercept is significant given that at depth it lies within 50 metres of the current oxide resource pit shell. Together with prior RC drilling by the Company outside the pit limits, including drill hole KMR20-030 that yielded 9.83 g/t Au oxide over 7.6 metres2 this new intercept reaffirms the presence of a relatively shallow, approximately 30 metre true thickness, oxide gold mineralized stratigraphic interval hosted within the Dunderberg shale and underlying Hamburg limestone that warrants additional drilling.
Drill holes KMR23-04 and KMR23-02 flanking KMR23-03 to the west and east returned 2.02 g/t Au over 7.6 metres; and 1.5 g/t Au over 4.6 metres, respectively further demonstrating the significance of the Dunderberg-Hamburg units as the premiere oxide gold host at Kinsley (Figure 2). Drill hole KMR23-01 did not return significant intercepts.
Table 1: Kinsley Mountain 2023 Drilling Significant Intercepts
Hole ID | Released | Zone | From | To | Interval | Au | NaCN Soluble Au |
(dip/azimuth) | (m) | (m) | |||||
KMR23-02 (-45/200) | Current News | Main Pit North | 146.3 | 150.9 | 4.6 | 1.50 | 90% |
KMR23-03 (-50/200) | 118.9 | 144.8 | 25.9 | 2.22 | 88% | ||
including | 125.0 | 135.6 | 10.7 | 4.20 | 96% | ||
KMR23-04 (-63/283) | 117.3 | 125.0 | 7.6 | 2.02 | 92% | ||
KMD23-01 (-76/085) | Oct. 3, 2023 | Western Flank | 267.6 | 287.9 | 20.3 | 12.55 | Sulphide |
including | 283.2 | 287.9 | 4.7 | 29.43 |
* True widths of the mineralized intervals are interpreted to be between 60-90% of the reported lengths.
**"Sulphide" defined as sodium cyanide (NaCN) soluble gold recovery of <60%
CEO Jeremy Yaseniuk stated, "This is a different zone located approximately 1km from the Western Flank Zone, our target there is oxide gold grading over .2 g/t Au. Therefore results reported today are excellent! They yielded broad oxide gold mineralized intercepts on the pit margin at greater than 10 times our current oxide resource lower cutoff of 0.2 g/t Au and thoroughly demonstrates the resource expansion potential at Main Pit North. We now have several mineralized intercepts in relative proximity, including KMR20-030 that yielded exceptionally high-grade oxide gold values including 9.83 g/t Au oxide over 7.6 metres, that are coming together to drive resource expansion at Kinsley. Drilling oxide material right beside the pit is a way of building ounces quickly and efficiently. The company looks forward to reporting on the remaining 5 holes."
Figure 1. Kinsley Mountain 2023 RC and Diamond Drilling Completed
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Figure 2. Main Pit North KMR23-03 Cross Section (looking west)
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Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021, with an effective date of May 5, 2021, and prepared by Michael M. Gustin and Gary L. Simmons, and filed under New Placer Dome Gold Corp.'s issuer profile on SEDAR (www.sedar.com).
Methodology and QA/QC
Assaying was performed by ALS Global (ALS), Vancouver Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited analytical laboratory that is independent of CopAur Minerals Inc. and the QP. Drill core and RC drill samples were subject to crushing to a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. Gold determination was via standard 30-gram fire-assay (FA) analysis with atomic absorption spectroscopy (AAS) finish, in addition to 51 element ICP-MS. Samples returning greater than 10 g/t Au are subject to gravimetric finish. Gold values returning greater than 0.1 g/t Au are also subject leach analysis where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS.
CopAur Minerals Inc. follows industry standard procedures for the work carried out on the Kinsley Mountain Gold Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. CopAur Minerals Inc. detected no significant QA/QC issues during review of the data. CopAur Minerals Inc. is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.
About CopAur
CPAU is an exploration company focused on developing projects within the emerging, mineral-rich mining regions of Nevada and British Columbia. The Company is backed by a dynamic and experienced team of resource professionals advancing multiple holdings across both regions; the flagship being Kinsley Mountain Gold Property, a Carlin-style project located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture, Nevada Gold Mines) and its 100% owned Williams Project that points to significant gold-copper potential within the prolific Golden Horseshoe of northern British Columbia, Canada.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC), Principal and Consultant, and Christopher W. Livingstone, P.Geo. (BC), Senior Geologist, both of APEX Geoscience Ltd. of Edmonton, AB, and "Qualified Persons" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Raffle and Mr. Livingstone have verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
For more information, please contact:
CopAur Minerals Inc.
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Email: jeremyy@copaur.com
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.
Forward-Looking Information
This news release contains forward-looking statements. These statements relate to future events or Company's future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revised any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
1 Mineralization at the Long Canyon Mine is not necessarily indicative of mineralization within CopAur Properties.
2 See New Placer Dome Gold Corp. News Release dated April 6, 2021
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