TSX.V: COCO
VANCOUVER, BC, Jan. 21,
2025 /CNW/ - Coast Copper Corp. ("Coast Copper" or
the "Company") (TSXV: COCO) is pleased to announce the
staking of strategically located mineral properties in British Columbia ("BC") Canada as well as the results of continued
compilation work on its 100% owned Hanson property in
northwestern BC (see news release for acquisition details
December 10, 2024). The five
new properties include the Rock Canyon South rare earth
and fluorite property in southeastern BC, the Virginia Silver high
grade past producing silver project in northwestern BC, the Ben
Nevis orogenic gold property located in the Bralorne Camp in
southwestern BC, and additional properties in the Anyox camp areas
in northwestern BC. See Figure 1. These properties add to the
Company's stated 2024 goals of making strategic acquisitions of
underexplored projects with a hybrid project generator model.
Although Coast Copper's Empire Mine project is still its flagship
property, Coast Copper will continue to acquire strategic
properties that will help position it for success in a rising
metals market.
Adam Travis, Coast Copper CEO
comments: "We continue to leverage our hundreds of years of
combined BC exploration experience by staking prospective ground.
The recent acquisitions include the rare earth, fluorspar Rock
Canyon South property whose minerals are included in the Canadian
Critical Minerals Strategy, the past producing high-grade Virginia
Silver mine which strongly compliments our Sweeney property and
prospective orogenic gold and silver ground along strike to the
south of Talisker Resources Ltd.'s Bralorne property¹. We will
continue to review opportunities throughout BC and beyond that play
to our strengths. Coast Copper will have a booth at the AME Roundup
Conference from January
20-23rd. Visit us at booth 521 to discuss these
new and exciting projects as well as our portfolio of other
projects."
Rock Canyon South Rare Earth (Southeastern BC) Carbonatite
hosted flurospar, barite and rare earth elements
The road accessible Rock Canyon South property (393 hectares
("ha")) is located 90 kilometers ("km") northeast of
Cranbrook and 45 km northeast of
the Company's Sully property. The property is located directly
south and on trend of the Rock Canyon Creek carbonate-hosted rare
earth, flurorite and barite deposit where fluorspar and rare-earth
mineralization is stratabound, hosted mainly by the "basal Devonian
unit", and occurs in a northwest trend over 3.5 km. In 1988, a
carbonatite-related origin is suggested for the fluorite and
rare-earth mineralization, resulting from metasomatically altered
(fenitized) Devonian carbonate rocks, possibly related to a
deep-seated alkaline intrusion. Fluorite content generally varies
from 2% to greater than (">") 10% of the rock. In 1986, a
sample of brown-altered carbonate with fluorite (R85DP-1A)
contained 1% cerium, 0.98% lanthanum, 0.3% neodymium, 0.058%
thorium and 0.03% samarium². Fluorite occurrences have been
previously mapped across the Company's newly acquired property and
appear to be along similar geological trends as the Rock Canyon
deposit ³.
Virginia Silver Property (Northwestern BC) High
grade silver- lead-zinc +/- gold veins
The road accessible Virginia Silver property (371 ha) is located
approximately 34 km north of Smithers and 5 km east of Morristown located on Highway 16. The Virginia
Silver property is geologically similar to the Company's high-grade
silver-lead-zinc +/- gold vein Sweeney property located 140 km to
the southeast in the Huckleberry Camp.
The
property has been intermittently explored since 1968,
including:
- Silver Standard Mines aggressively worked on the property in
1968-69, driving two exploration adits totaling 152 meters
("m") and drilling 22 short diamond drillholes. Silver
Standard's engineer at the time estimated a historic, non-43 101
compliant resource of 27,213 tonnes grading 708 grams per tonne
("g/t") (25 ounces per ton) silver⁴ ⁵ based on detailed
underground channel sampling and drillhole data.
- In 1975, Paul Kindrat leased the
property, shipping 226 tonnes from stockpiles on the property of
hand sorted ore that reported 696,952 grams silver (22,408 ounces)
and 401 grams gold (12.9 ounces) ⁵.
- In 1977 Barriere Exploration leased the property and installed
a 50 ton-per-day mill. Two shipments of concentrate were shipped in
1980-1981, before the mill was shut down in December of 1981. The
mine and mill were decommissioned in 1990.
- The property was restaked in 1999 by George Braun who completed an 11-line km ground
electromagnetic survey in 2001.
- In 2006 and 2007, Endurance Gold optioned the property, staked
the Annie claims, completed a soil geochemical program and drilled
3 diamond drill holes south of Causqua Creek. Two holes, VAG-1 and
VAG-3, intercepted the targeted vein material. Hole VAG-1 was a
vertical hole and intersected a 0.20
m thick carbonate vein at 80.60
m depth, grading 121 g/t silver and 0.186 g/t gold ⁵.
- In 2007, Mega Silver Inc. optioned the property from Endurance
Gold and in 2008 completed an exploration program of ground Induced
Polarization ("IP") geophysics and six diamond drill holes
focused south of Casqua Creek. The drill program was designed to
test a number of large deep (>200
m) IP geophysical conductors, which appear to be associated
with zones of secondary tourmaline. Most of the 2008 drillholes
intercepted significantly anomalous to mineralized vein
material.
Ben Nevis Property (Southwestern BC) Hydrothermal gold
veins
The road accessible Ben Nevis property (1,980 ha) is located 30
km southeast of the town of Goldbridge in the Bralorne Gold Mining
Camp and is immediately adjacent to the southeastern corner of
Talisker's Bralorne property¹. In 1980 and 1981, Dupont of Canada
Exploration Ltd. conducted programs of prospecting, geological
mapping and rock, soil and stream sediment sampling. Soil values up
to 0.9 g/t gold and stream sediment values up to 2 g/t gold were
obtained ⁶. In 1987, two heavy mineral stream sediment samples
collected by British Lion Mines Ltd. produced values of 1 and 7 g/t
gold in coarse fractions ⁶. In 2020, S. Boughey conducted a
structural photo interpretation of the Ben showing area.
The conclusions of the 2020 work were that the broad and
intermediate regional lineament analyses show that the property is
located proximal to intersections of major regional structures,
which are likely deep penetrating and could be important in
localizing mineralizing magmas and their related hydrothermal
systems. At the property scale, smaller scale conjugate linears are
seen to branch off of the major regional structures and a focus on
exploring along these features, with an emphasis on their
intersections will be important for planning future work programs
at Ben Nevis. Future programs should focus on prospecting,
trenching and sampling of material within the north-northwesterly
trending depression in attempts to find the source of high-grade
gold mineralization identified by historic geochemical surveys
⁷.
Hanson Property (Northwestern BC) Porphyry
copper-molybdenum-gold (see news release dated December 10, 2024)
The road accessible Hanson property (1,965 ha) is located 150 km
west-northwest of Prince George in
the Babine Region and 25 km north of Centerra Gold Inc.'s Endako
molybdenum mine¹. The property is within the southern portion of
the under explored Stikine Terrane, one of BC's most prolific
copper molybdenum-gold belts which includes Glencore Canada Corp.'s
past producing Bell and Granisle
mines, the Endako mine and Pacific Booker Minerals' advanced stage
Morrison deposit¹. In addition, new discoveries and active
exploration programs on the north part of the belt by American
Eagle Gold at its NAK copper-gold porphyry and Amarc
Resources/Boliden Minerals at their Duke copper-molybdenum porphyry ¹ provide evidence
of continuing success in the area.
Highlights of the historical compilation include⁸:
- Copper soil anomaly > 80 parts per million ("ppm")
covering an area over 900 m by
600 m to the west of the known
Kimura Zone, and a separate anomaly
450 m by 250
m zone to the northwest of the known Kimura Zone;
- Zinc soil anomaly > 1,000 ppm covering an area of
700 m by 250
m (on the current Property);
- Percussion drillholes completed in 1973 returned 0.1% copper on
the outskirts of the copper soil anomaly;
- Diamond drillholes completed in 1990 returning 0.2% copper and
0.1 g/t gold over 15 m and
22 m (DDH-90-20 and DDH-90-3
respectively);
- Geophysical chargeability anomalies over 1,000 m in two areas.
Additional Acquisitions (Northwestern BC) High grade
silver-lead-zinc +/- gold veins
The Company has acquired additional mineral claims within the
Anyox camp and adjacent and internal to Goliath Resources Ltd.'s
Golddigger property area in the Golden Triangle. More details on
these properties will be released once the Company has had time to
review the historical data in context with today's knowledge.
Qualified Persons
The technical information contained
in this news release has been prepared, reviewed, and approved by
Wade Barnes, P.Geo. (BC), Coast
Copper's geological consultant and a Qualified Person within the
context of the Canadian Securities Administrators' NI 43-101;
Standards of Disclosure for Mineral Projects.
About Coast Copper Corp.
Coast Copper's primary
exploration focus is the Empire Mine property, located on northern
Vancouver Island, BC, which covers three historical open pit mines
and two past-producing underground mines that yielded iron, copper,
gold, and silver. In 2023, Coast Copper launched a generative
program aimed at advancing its other properties in parallel with
Empire. In 2024, Coast Copper acquired two new projects bringing
its total number of 100% owned projects in BC to six, consisting of
the mineral titles comprising the Empire Mine property, the Sully
property located in southeastern BC, the Knob Hill NW property
located on northern Vancouver Island, the Home Brew property
located in central BC, its Sweeney property located in the central
interior of BC and its Scottie West
property located in the "Golden Triangle" of northern BC. Coast
Copper's management team continues to review precious and base
metal opportunities in western North America.
On Behalf of the Board of Directors:
"Adam
Travis"
Adam Travis,
Chief Executive Officer and Director
NR25-01
Cautionary Notes in News Release and/or Maps
- This news release may contain information about adjacent
properties on which Coast Copper has no right to explore or mine.
Investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on the Company's
properties.
- Minfile Record Summary, 082JSW018.
https://minfile.gov.bc.ca/Summary.aspx?minfilno=082JSW018
- C. Graf (1986), Geological Report on the D.P. 1,2,3 and
Candy Claims, REE-Ba-F-P Carbonatite Prospect. BC Assessment Report
14677
- While Coast Copper notes that the historical results are not NI
43-101 compliant and have not been verified by the
Company's QP, these historical resources will help guide Coast
Copper's exploration programs. A Qualified Person has not done
sufficient work to classify the historical estimate as a current
mineral resource and Coast Copper Corp. is not treating this
historical estimate as current mineral resources.
- Minfile Record Summary 093M021.
https://minfile.gov.bc.ca/Summary.aspx?minfilno=093M++021
- Minfile Record Summary 092JNE038.
https://minfile.gov.bc.ca/Summary.aspx?minfilno=092JNE038
- S.Boughey (2020), 2020 Geological Report on the Ben Property.
BC Assessment Report 39079
- J. Cross (2013), Structural Analysis on the Hanson Property. BC
Assessment Report 34087
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
Certain information contained or incorporated by reference in
this press release, including any information regarding the
proposed Transaction, private placement, board and management
changes, as to our strategy, projects, plans or
future financial or operating performance, constitutes
"forward-looking statements." All statements, other than statements
of historical fact, are to be considered forward-looking
statements. Forward-looking statements are necessarily based on a
number of estimates and assumptions that, while considered
reasonable by Coast Copper, are inherently subject to significant
business, economic, geological and competitive uncertainties and
contingencies. Although Coast Copper believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not a guarantee of
future performance. Known and unknown factors could cause actual
results to differ materially from those projected in the
forward-looking statements. Such factors include but are not
limited to: fluctuations in market prices, exploration and
exploitation successes, continued availability of capital and
financing, changes in national and local government legislation,
taxation, controls, regulations, expropriation or nationalization
of property and general political, economic, market or business
conditions. Many of these uncertainties and contingencies can
affect our actual results and could cause actual results to differ
materially from those expressed or implied in any forward-looking
statements made by, or on behalf of, us. Readers are cautioned that
forward-looking statements are not guarantees of future performance
and, therefore, readers are advised to rely on their own evaluation
of such uncertainties. All of the forward-looking statements made
in this press release, or incorporated by reference, are qualified
by these cautionary statements. We do not assume any obligation to
update any forward-looking statements.
SOURCE Coast Copper Corp.