VANCOUVER, BC–(Marketwired – October 20, 2016) – Copper North Mining Corp. (“Copper North” or the “Company”) (TSX VENTURE: COL) announces the results of drilling on the Thor property in northwest British Columbia. Drill hole TH16-01, in the Thor East target area, intersected porphyry copper-gold mineralization. Drill holes TH16-02 and TH16-03 were drilled in the Thor West target area and failed to intercept favorable geology (see September 9, 2016 news release).
Drill hole TH16-01 intercepted an intensely fractured and veined granodiorite that contains copper mineralization, from a depth of 11.65 m to 119.25 m. Traces of copper mineralization are present below 119.25 m until the end of the hole at 169.16 m. The granodiorite is in contact to the east with the Takla Group volcanic rocks that are also extensively fractured and veined. The transition from stronger mineralization and quartz-veining at the top of the hole to weaker copper mineralization and phyllic alteration at depth suggests that drill hole TH16-01 may flank a mineralized porphyry centre.
|From (m)||To (m)||Intersection (m)||Cu %||Au g/t|
History and Target Areas
Exploration in the 1960s to 1990s discovered porphyry copper-gold type mineralization on the Thor property. The Thor Property covers approximately 20,000 hectares including the historic Thor, Marmot, Thorne and Goldvale mineralized areas. The mineral prospects follow a 20 km long mineralized zone within the central part of the porphyry copper-gold trend, from Kemess North in the north northwest to Kliyul in the south southwest, a distance of 75 kilometres.
Drilling and geological survey work this past summer indicates that drilling is warranted in follow-up of drill hole TH16-01 in the Thor East target area. The next steps for exploration include ground surveys in the Thor East area, and evaluating multiple geochemical targets and alteration zones. Field work has outlined multiple targets over a 4 by 6 kilometre area to the southeast of the TH16-01 discovery area (see Appendix 1).
Dr. Harlan Meade, President and CEO, states that, “The large area of porphyry alteration and gossan zones, remain an attractive exploration target. The Thor Project provides Copper North an opportunity to explore for porphyry copper-gold type mineralization in the slopes and valleys 20 km to the south of Kemess South mine and mill complex in North Central BC.”
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 laboratory of SGS Mineral Services in Burnaby for geochemical analyses. Copper was assayed by four-acid digestion with an ICP-AES finish. Gold was analyzed by a 30 g charge fire assay with an AAS finish.
The technical information in this news release has been prepared, reviewed and approved by Dr. Harlan Meade, P.Geo, the President and CEO of Copper North, a Qualified Person within the meaning of NI 43-101.
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. Its 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 proposed exploration and development activities and their timing. 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 timeliness and success of regulatory approvals, the timing and success of 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 assumptions that the the proposed exploration and development of the mineral projects will proceed as planned, 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.