VANCOUVER, British Columbia, May 08, 2019 (GLOBE NEWSWIRE) -- District Copper Corp. (“District Copper” or the “Company”) (DCOP.V) is pleased to announce commencing the first phase of the summer exploration program on its 100% owned Stony Lake East gold project, located in central Newfoundland, Canada.
- Mapping, sampling, and prospecting has commenced on the Rabbit Tracks gold target utilizing 3 two-man (geologist and prospector) teams.
- Early results from the work completed at the Rabbit Tracks target indicate epithermal style alteration and mineralization.
- MPX Geophysics Ltd. has been selected to complete the combined airborne high sensitivity aeromagnetic and electromagnetic survey over the property around the end of June.
“We are pleased to start exploring our Stony Lake East project,” comments District Copper President & CEO, Jevin Werbes. “It’s exciting to obtain a large property hosting at least 6 significant exploration targets along the prolific Cape Ray-Valentine Lake structural zone, contiguous to the Sokoman Moosehead discovery. We look forward to the results of the current detailed mapping and sampling program which will be combined with data from the airborne survey to develop potential drill targets.”
About the Stony Lake East Project
District’s Stony Lake East project is centrally located within the Cape Ray/Valentine Lake structural trend in Central Newfoundland - Canada’s newest emerging orogenic gold district and is contiguous to and covers the southwest extension of the Silurian age rocks. This trend hosts a number of recent high-grade gold discoveries including Sokoman Iron Corporation’s (“Sokoman”) Moosehead discovery, Marathon’s Valentine Lake gold camp, and Antler Gold’s recently discovered high-grade Wilding Lake gold zones. Sokoman has reported a number of high-grade intersections of gold mineralization from their Moosehead project as recently as April 2019 including DDH MH-19-62 that averaged 33.6 g Au/t over 4.8 m (see Sokoman news release April 16, 2019). The Stony Lake East project covers 27 kilometers of strike length of this favourable trend between Sokoman’s Moosehead discovery to the northeast and the Wilding Lake, etc. zones to the southwest.
Early stage exploration has identified six large exploration targets on the Stony Lake East project that exhibit a combination of some or all of the following:
- 18 gold occurrences with rock samples yielding up to 15.1 g/t gold
- Large scale soil, till, and lake sediment gold geochemical anomalies
- Extensive silicified zones with anomalous to low-grade gold mineralization
- Areas of altered Silurian age sandstone containing 2-3% (est.) combined pyrite and arsenopyrite.
Of the 440 historic rock grab samples taken throughout the project area, 85 rock samples (19%) are in the 0.050 to 0.250 g/t Au range, 69 samples (16%) are in the >0.25 g/t Au to 1.0 g/t Au range, and 35 samples (8%) exceeded 1.0 g/t Au to a maximum of 15.1 g/t Au.
Elmer B. Stewart, MSc. P. Geol., a Director of District Copper, is the Company’s non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical information disclosed in this news release.
About District Copper
District Copper is a Canadian company engaged in exploration for copper-gold deposits. The Company’s assets include the Eaglehead copper project in northwestern British Columbia and the Matachewan gold project 3.2 km east of the Young Davidson gold mine in Ontario. The acquisition of the Stony Lake gold project in Newfoundland establishes the company as a major land holder in one of North America’s most exciting new gold camps.
For further information, please visit www.districtcoppercorp.com or contact Jevin Werbes at 604-620-7737.
Jevin Werbes, President & CEO
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Cautionary Statement on Forward Looking Statement
Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance, constitute “forward looking statements”. Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various 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.
A more complete discussion of the risks and uncertainties facing District Copper is disclosed in District Copper's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and District Copper disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.