VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 8, 2015) - Copper North Mining Corp. ("Copper North" or the "Company") (TSX VENTURE:COL) is pleased to announce results from the first 8 drill holes of the 22 drill hole program of approximately 2,500 metres at the Carmacks copper-gold project, Yukon. The fill-in drill holes are focused on the previously known mineral zones that have a length of 2,000 metres. The first eight drill holes in the 2000S structural zone intersected oxide and sulphide copper mineralization. The detailed drilling has confirmed the continuity and quality of these zones and the potential for expansion of mineral resources at Carmacks.
Zones 2000S and 13 are outside of the proposed open pit area and drilling has been focused on these zones with the objective of expanding the resource beyond the Measured and Indicated resource of 11,980,000 tonnes grading 1.07 % total copper, 0.86% acid-soluble copper in Zones 1, 4, 7 and 7A (see Preliminary Economic Assessment filed on SEDAR on May 30, 2014, the "PEA").
Zone 2000S
Zone 2000S is located 400 metres south of the edge of the proposed open-pit. In addition to eight diamond drill holes in 2015, five historic holes from 2007 and 2014 define the mineralized zone. The drill density should now be sufficient to define a mineral resource. The drill hole locations, plan maps and cross-sections for Zone 2000S are available on Copper North's website, www.coppernorthmining.com.
Table 1 - Drilling results from Zone 2000S.
| Hole |
|
From (m) |
|
To (m) |
|
Intercept width (m) |
|
Est. true width(m) |
|
Ag g/t |
|
Au g/t |
|
Cu % (total) |
|
Cu % (soluble) |
|
Style |
| CN15-01 |
|
29.29 |
|
44.20 |
|
14.91 |
|
11.42 |
|
3.8 |
|
0.38 |
|
0.72 |
|
0.64 |
|
Oxide |
| CN15-02 |
|
84.30 |
|
108.21 |
|
23.91 |
|
18.32 |
|
4.4 |
|
0.34 |
|
0.72 |
|
0.47 |
|
Oxide |
| CN15-03B |
|
52.40 |
|
62.20 |
|
9.80 |
|
7.51 |
|
2.2 |
|
0.14 |
|
0.52 |
|
0.43 |
|
Oxide |
| CN15-04 |
|
76.00 |
|
81.23 |
|
5.23 |
|
3.36 |
|
4.0 |
|
0.32 |
|
0.73 |
|
0.64 |
|
Oxide |
| CN15-05 |
|
126.95 |
|
156.00 |
|
29.05 |
|
14.53 |
|
2.6 |
|
0.21 |
|
0.57 |
|
0.08 |
|
Sulphide |
| CN15-06 |
|
62.80 |
|
79.60 |
|
16.80 |
|
12.87 |
|
1.2 |
|
0.07 |
|
0.35 |
|
0.29 |
|
Oxide |
| CN15-06 |
|
90.75 |
|
124.80 |
|
34.05 |
|
26.08 |
|
2.0 |
|
0.10 |
|
0.36 |
|
0.21 |
|
Oxide |
| CN15-07 |
|
139.95 |
|
177.30 |
|
37.35 |
|
24.01 |
|
3.4 |
|
0.24 |
|
1.01 |
|
0.06 |
|
Sulphide |
| CN15-07 |
|
181.30 |
|
187.80 |
|
6.50 |
|
4.18 |
|
3.6 |
|
0.15 |
|
0.75 |
|
0.02 |
|
Sulphide |
| CN15-08 |
|
32.70 |
|
41.90 |
|
9.20 |
|
7.05 |
|
3.4 |
|
0.28 |
|
0.79 |
|
0.67 |
|
Oxide |
| CN15-08 |
|
50.60 |
|
52.95 |
|
2.35 |
|
1.80 |
|
4.5 |
|
0.32 |
|
0.94 |
|
0.81 |
|
Oxide |
The highlights of the drilling include an estimated true width of 18.32 metres of oxide mineralization grading 0.72% total copper, 0.47% soluble copper in hole CN15-02, and an estimated true width of 24.01 metres of sulphide mineralization grading 1.01% total copper from hole CN15-07.
Zone 2000S extends along strike for approximately 300 metres, and is open to the south and has a variable width: the zone widens to the south and widens with depth. The average vertical thickness of the oxide zone is approximately 95 metres and the sulphide zone is open to depth.
The tonnage potential for Zone 2000S has been estimated using 3D wireframes and geometrical methods, assuming a density of 2.7 tonnes/cubic metre and extending to depths of 160 to 190 metres below surface. The current density of drilling supports an estimate of between 1.6 and 1.8 million tonnes of mineralization comprising approximately 50% oxide mineralization and 50% sulphide mineralization. A further ~500 metres of drilling may increase the tonnage potential to as much as 2.4 million tonnes.
Investors are cautioned that the tonnage potentials indicated here are not NI43-101 compliant resources or reserves. Tonnage potentials were calculated based on volumes of rock derived from the geological interpretation between drill intercepts that contain visible copper mineralization. No statement is made regarding the potential grade of the tonnage potentials.
Copper North is awaiting assays for the remaining 14 holes that were drilled in Zone 13.
Zone 13
Fourteen holes were drilled in Zone 13, which lies to the south of the Williams Creek valley, approximately 300 metres south-east of Zone 2000S (see August 4, 2015 news release). Zone 13 is approximately 650 metres long, but the drilling in 2015 has focused on an approximately 300 metre long section of strike where the widest and thickest amount of near-surface oxide copper mineralization is evident. Thirteen of fourteen holes intersected oxide copper, native copper or copper sulphide mineralization. The fourteenth hole was lost due to poor ground conditions. Including historic drill holes, there are now 30 drill holes in Zone 13 that have intersected copper mineralization. The drill density should now be sufficient to define a mineral resource once assay results have been received. Zone 13 is open to the north, to the south and at depth.
QA/QC
Quality assurance and quality control procedures include the systematic insertion of duplicate and standard samples in to the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and were shipped directly to the preparatory laboratory of ALS Minerals in Whitehorse. All geochemical analyses were performed by ALS Minerals in North Vancouver. Total copper assays were performed by four-acid digestion with an AAS finish. Soluble copper assays were carried out by sulphuric acid digestion with an AAS finish. Gold was analyzed by a 30 g charge fire assay with an AAS finish. Silver was analyzed by four-acid digestion and ICP-AES finish.
Dr. Harlan Meade, P.Geo. is the Qualified Person responsible for the preparation of this news release.
On behalf of the Board of Directors:
Dr. Harlan Meade
President, CEO and Director
About Copper North
Copper North is a Canadian mineral exploration and development company. Copper North's assets include the Carmacks Project located in the Yukon, the Redstone Property located in the Northwest Territories, and the Thor Property in British Columbia. Copper North trades on the TSX Venture Exchange under the symbol COL.
This news release includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to results from current and previous exploration on the Carmacks Project; proposed exploration plans, their timing, and results achieved from such activity; the potential for expanding the known mineral resources; development, engineering and permitting activities, and their timing; and future economic operating results. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the timing and success of current and future exploration and development activities; exploration and development risks; market prices; exploitation and exploration results; availability of capital and financing; general economic, market or business conditions; uninsured risks; regulatory changes; defects in title; availability of personnel, materials and equipment; unanticipated environmental impacts on operations; and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the current and proposed exploration and development of the Carmacks Project will proceed as planned; early exploration success will increase mineral resources; market fundamentals will result in sustained metals and mineral prices; and any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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.