Kutcho Copper Corp. (TSXV: KC, OTCQX: KCCFF)
(“Kutcho Copper” or the “Company”) is pleased to announce it has
completed airborne geophysical surveys over its entire prospective
package of mineral rights that already hosts three volcanogenic
massive sulphide (“VMS”) copper-zinc deposits – Main, Sumac and
Esso. The objective of the recently completed airborne geophysical
programs was to test for:
- Potential extensions to the three
known massive sulphide deposits;
- Potential new massive sulphide
deposits in the vicinity of the three known deposits, particularly
immediately west of the highest-grade Esso deposit; and
- Potential for new deposits in areas
where the prospective stratigraphy is repeated to the south of the
main trend by folding and faulting.
Vince Sorace, President & CEO of Kutcho
Copper comments: “Given that VMS deposits tend to occur in
clusters, and that historical geophysical surveys had limited
coverage and depth penetration, we believe there is potential for
new discoveries in all three categories noted above. We have been
able to demonstrate the depth penetration ability of the ZTEM
method is in excess of 800m and have used the preliminary survey
results to focus a seismic survey at Esso West. The correlation of
the preliminary ZTEM and seismic data is very encouraging at Esso
West and this combination of surveys will aid in drill targeting.
We are further encouraged that several more ZTEM and VTEM targets
exist across the Project including some in areas that have never
seen prior exploration activity. We are looking forward to seeing
the final data and completing our modeling and interpretation to
feed into our drill targeting.”
Preliminary Results
Geophysical surveys have now been completed.
Based on preliminary field interpretations, the ZTEM survey has
detected an anomaly somewhat shallower than Esso and to the west,
suggesting some of the deeper historical drilling that did
intersect anomalous copper and zinc in this area may have passed
down dip of this anomaly.
In addition, the preliminary field
interpretations of the ZTEM and VTEM data over the prospective,
repeated stratigraphy to the south of the Main-Sumac-Esso trend
also appears to have detected several anomalies in previously
unexplored areas. Detailed interpretations are in process for the
entire data set.
Building on the results of the VTEM and ZTEM
surveys around the Esso deposit, Kutcho Copper is amidst completing
a deep-penetrating seismic survey and preliminary results appear to
be delineating the main known geologic features. Kutcho has also
deployed geological personnel to site to re-examine historic drill
core (where available) from holes in the vicinity of newly defined
ZTEM anomalies from the preliminary data to help vector towards,
and define, drill targets and complete field surveys over the Esso
West and regional targets. Further and final results from both
geophysical surveys and other targeting methodologies will be
released in the coming weeks.
Survey Details
Kutcho contracted Geotech Ltd to conduct a high
resolution VTEM survey (“Versatile Time domain Electro-Magnetic
plus total magnetic intensity”) on 100m line spacings for a total
of 802 line km, as well as conduct a high resolution ZTEM survey
(Z-Axis Tipper Electro-Magnetic) on 200m line spacings for a total
1,557 line km over the Kutcho Project. Initial interpretation on
the preliminary VTEM and ZTEM data and targets will be announced
once the final data is received and processed.
Frontier Geoscience have completed seven linear
km of an expected nine linear km high resolution seismic program.
Analysis and interpretation of results over the Esso Deposit
reveals features that can be correlated with known important
geological features within the volcanic stratigraphy above, below
and intimately associated with mineralization. The same features
can be interpreted on seismic section lines 300m and 800m, moving
into the Esso West target area. The surveys have also
confirmed that the seismic data can be correlated with known
features in drilling to 1,000 m depth.
These programs represent the first time that the
highly effective modern VTEM and ZTEM geophysical techniques will
have been deployed together, along with focused seismic, to conduct
an evaluation of the most prospective mineralized horizons that
already host the three known VMS deposits. This is the first
exploration initiative at Kutcho in over 12 years.
The Kutcho Project encompasses ~90% of the
prospective Kutcho Formation rocks east of Dease Lake, B.C. These
prospective volcanic rocks are folded, repeating the favourable
mineralized horizon that hosts the Main, Sumac and Esso
volcanogenic massive sulphide (“VMS”) deposits three times within
the Project boundary, including the areas hosting the known
deposits.
Figure 1 – Location of VTEM, ZTEM and Seismic
surveys
Qualified Persons
The technical or scientific information in this
press release has been reviewed and approved by Andrew Sharp,
P.Eng. BC (Lic. No. 47907), FAusIMM, Chief Operating Officer for
Kutcho Copper, who serves as a qualified person under the
definition of National Instrument 43-101.
About Kutcho Copper Corp.
Kutcho Copper Corp is a Canadian resource
development company focused on expanding and developing the Kutcho
high grade copper-zinc project in northern British Columbia.
Committed to social responsibility and the highest environmental
standards, the Company recently completed a feasibility study on
the Kutcho project and is advancing permitting with the objective
of getting to a positive construction decision.
Vince SoracePresident & CEO, Kutcho Copper Corp.
For further information regarding Kutcho Copper
Corp, please email info@kutcho.ca or visit our website at
www.kutcho.ca.
Cautionary Note Regarding Forward-Looking
Statements
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.
This news release contains certain statements
that may be deemed “forward-looking statements” with respect to the
Company within the meaning of applicable securities laws.
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
“potential”, “prospective” “targets” and similar expressions, or
that events or conditions “will” occur. Although Kutcho Copper
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, are subject to risks and
uncertainties, and actual results or realities may differ
materially from those in the forward-looking statements. Such
material risks and uncertainties include, but are not limited to,
the results of the geophysical programs and their ability to define
targets, if any, and whether or not such targets represent
mineralization of potential economic interest; the Company’s
ability to fund follow-up drill testing of any targets identified
and the results of such follow-up work. In respect of the Company’s
feasibility study referenced herein, material risks and
uncertainties include the Company’s ability to raise sufficient
capital to fund its obligations under its property agreements going
forward, to maintain its mineral tenures and concessions in good
standing, to explore and develop the Kutcho project or its other
projects, to repay its debt and for general working capital
purposes; changes in economic conditions or financial markets; the
inherent hazards associates with mineral exploration and mining
operations, future prices of copper and other metals, changes in
general economic conditions, accuracy of mineral resource and
reserve estimates, the potential for new discoveries, the potential
to convert inferred resources to indicated or measured resources,
the potential to optimize the mine plan, the ability of the Company
to obtain the necessary permits and consents required to explore,
drill and develop the Kutcho project and if obtained, to obtain
such permits and consents in a timely fashion relative to the
Company’s plans and business objectives for the projects; the
general ability of the Company to monetize its mineral resources;
and changes in environmental and other laws or regulations that
could have an impact on the Company’s operations, compliance with
environmental laws and regulations, aboriginal title claims and
rights to consultation and accommodation, dependence on key
management personnel and general competition in the mining
industry. Forward-looking statements are based on the reasonable
beliefs, estimates and opinions of the Company’s management on the
date the statements are made. Except as required by law, the
Company undertakes no obligation to update these forward-looking
statements in the event that management’s beliefs, estimates or
opinions, or other factors, should change.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0d810550-d2c7-4e0a-a599-24c3df54471f
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