Large Magnetic Body Identified Below Copper Mineralization on Carube Copper's Bornite Trend
Ottawa, Ontario--(Newsfile Corp. - December 15, 2015) - Carube Copper Corp. (TSXV: CUC) reports that results of a high resolution airborne magnetic and radiometric survey on its 100% owned Mackenzie Copper Project in southwestern British Columbia have identified a large magnetic target below the surface copper-magnetite mineralization on the western part of the property.
The survey covered a 57 square kilometre area over the Bornite Trend mineralization, a 7.5 kilometre long trend of scattered copper mineralization occurring along the eastern margin of the Bridge River Pluton. The mineralization is located approximately 10 kilometres south of Amarc Resource's recently discovered IKE deposit.
Alar Soever, Chairman of Carube Copper commented: "The Mackenzie Property is located in an area which is rapidly evolving into a very exciting regional exploration play. The positive results from our work on the Bornite Trend and the drill results recently announced by Amarc Resources from its IKE copper-molybdenum silver porphyry discovery next door, make this district one of Canada's most important new mineral discoveries. At Mackenzie the correlation of high copper values on surface with elevated potassium values in the airborne radiometrics and a large subsurface magnetic feature are strongly suggestive of a large, very attractive target that merits drilling."
Several important characteristics of the area are revealed from interpretation of the airborne magnetic and radiometric data:
- Elevated values in the potassium radiometrics over an area at least 6km long by 3km at its widest point within and parallel to the contact of the Bridge River Pluton may indicate a potassic alteration zone associated with porphyry mineralization.
- A large magnetic body — about 2,000m long by 500m wide and 150m below surface — lies directly beneath high copper values on surface in grab samples. Previous mapping and sampling indicates a strong association between copper mineralization and magnetite.
- Interpreted structural zones coincide well with surface exposures of mineralization that parallel the Bridge River Pluton contact. Cross structures also show magnetic enhancement and correlation with copper in grab samples.
It is believed that the copper rich samples found along the Bornite Trend may represent a halo to a more significant copper mineralized system represented by the large interpreted magnetic body at depth and the associated large potassium alteration anomaly at surface.
Previous work by Carube Copper at Mackenzie identified the Bornite Trend; with an open-ended strike length of 7.5 kilometres. Scattered quartz-bornite-chalcocite-magnetite ± chalcopyrite ± tetrahedrite veins and stringers up to 20 centimetres wide are common along the Trend. These occur along the edge of the Miocene-age Bridge River pluton and are interpreted to be of Miocene age. Fourteen of the 27 grab samples collected along the Bornite Trend during the initial reconnaissance of this area have copper values in excess of 0.25% Cu, ranging up to a maximum of 4.34% Cu; gold values ranging from 0.001 to 0.445 g/t Au; and silver values from 3.34 to 4,170 g/t Ag. See press release September 13, 2012 for details of sampling and analytical methods.
Carube is planning an exploration program at Mackenzie in 2016, which will focus on mapping and sampling the extent of the Bornite Trend and completing a program of ground geophysics to prioritize drill targets.
Figure 1: The Bornite Trend at Carube Copper's Mackenzie Property showing proximity to Amarc's IKE Discovery
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2661/18522_carube1enhanced.jpg
Carube Copper's Mackenzie Property and Amarc Resources' recently discovered IKE Deposit (592 metres of 0.44% CuEq @ 0.30% Cu, 0.032% Mo and 2.1 g/t Ag), which was optioned to Thompson Creek Metals ($15M exploration expenses for 30%) are located within the Cascade Magmatic Arc, a belt of Tertiary and younger intrusive and extrusive rocks, which stretches from Northern California up to the southern end of the Alaska Panhandle. This Arc, formed as a result of the subduction of various Pacific Ocean plates, transform faults and ridges beneath the North American continent over the past 65 million years. The majority of the Cu, Au and Mo resources being mined in the world, primarily in Chile, Peru, the United States and Indonesia, come from similarly aged belts of porphyry intrusions. In the United States, the Cascade Magmatic Arc has produced mineral deposits of significant size, such as Quartz Hill (1.6 BT of 0.127% MoS2)1 in Alaska, and Glacier Peak (1.7 BT @ 0.334% Cu and 0.015% MoS2)2 and Margaret (523 MT @ 0.36% Cu, 0.013% - MoS2.)2 in Washington State (historic resources).
1. Maas, K.M., Bittenbender, P.E., and Still, J.C., 1995, Mineral investigations in the Ketchikan mining district, southeastern Alaska: U.S. Bureau of Mines Open-File Report 11-95, 606 p.
2. R. Lasmanis, Regional geological and tectonic setting of porphyry deposits in Washington State: Porphyry Deposits of the Northwestern Cordillera of North America, CIM Special Volume 46, p77-102
Contacts
Jeff Ackert, President and CEO • 1-613-839-3258 • jackert@carubecopper.com
Dr. Vern Rampton, Executive VP of Corporate Development • 1-613-839-3258 • vrampton@carubecopper.com
Alar Soever, Chairman • 1-705-682-9297 • asoever@carubecopper.com
Darrell Munro, Corporate Administration • 1-613-839-0474 • dmunro@carubecopper.com
- END PRESS RELEASE -
This press release has been reviewed and approved by Alar Soever, P. Geo. in his capacity as a qualified person as defined under NI 43-101.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Carube Copper Corp. (TSXV: CUC) is a Canadian exploration company focused on the rapid exploration and development of precious metal and copper projects in Jamaica and Canada. Through a wholly owned Jamaican subsidiary, Carube owns a 40% beneficial interest (subject to a 2% NSR) in the Bellas Gate Project, which consists of two highly prospective copper-gold licenses covering 84 square kilometres of the Central Inlier. The Bellas Gate Project is the subject of a joint venture agreement with OZ Minerals Ltd., an Australian copper-gold producer with a market capitalization of over $1B. OZ Minerals can earn a 70% interest (Carube 30%) in the Bellas Gate Project by spending $6.5M on exploration and can then increase its interest a further 10% by completing a feasibility study. OZ Minerals has flown airborne geophysics over 3 other Carube projects (4 wholly owned Licences, subject to 2% NSRs, and subsequently can invoke separate joint ventures on each project under similar terms to those applicable to the BGP. Carube also holds a 100% interest in three porphyry copper-gold-molybdenum properties in south-western British Columbia within the Tertiary-aged Cascade Magmatic Arc. Exploration continues on two of these projects, with the goal of joint venturing them to larger exploration and mining companies.
DISCLAIMER AND FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Inc. provides no assurance that actual results will meet management's expectations. Actual events, results, performance, prospects and opportunities may differ materially from those expressed herein. Factors that can cause results to differ materially are set out in the company's documents filed on the SEDAR website. Even though Carube Copper believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on it, as it may only apply to a disclosed time frame or not at all. Carube Copper disclaims any obligation to update or revise information in the future other than required by law.