Drilling Starts at Carube Copper's Bellas Gate Project
Ottawa, Ontario--(Newsfile Corp. - May 8, 2017) - Carube Copper Corp. (CUC:TSXV) is pleased to announce the start of a drill program on its 100% owned Bellas Gate copper-gold project in Jamaica. The 2,000 metre program will focus on high-priority drill targets that have been clearly delineated based on results from previous drilling, ground exploration, soil geochemistry and airborne geophysics.
Drilling will follow up on hole PVT-16-002 at the Provost prospect that intersected 339m of 0.34% CuEq (0.28%Cu, 0.12 g/t Au), including 10m of 1.79% CuEq (1.28%Cu, 0.90 g/t Au)¹.
"Carube Copper is now sufficiently funded to drill the high-priority targets delineated by the past two years' exploration. With 100% ownership of the Bellas Gate Project, our shareholders now stand to realize the full benefit of the $14 million invested in previous programs and from future exploration success. The Provost area in particular returned impressive copper mineralization from two recent drill hole. This program will endeavour to indicate the potential size of the porphyry system."
— Jeff Ackert, President and CEO of Carube Copper
Figure 1: Priority Drill Target Areas at Carube Copper's Bellas Gate Project
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High-Priority Targets
The Provost Target is the top priority for Carube, as Hole PVT-16-002 intersected very strong porphyry copper mineralization with intense alteration and veining. Alteration assemblages encountered in both PVT-16-001 and PVT-16-002 suggest a propylitic assemblage interpreted as the margins of a broad porphyry deposit.
Note that:
PVT-16-002 intersected 339m of 0.34% CuEq (0.28%Cu, 0.12 g/t Au), including 10m of 1.79% CuEq (1.28%Cu, 0.90 g/t Au)¹; and
PVT-16-001, which intersected 82m of 0.46% CuEq (0.37%Cu, 0.16 g/t Au), including 29m of 0.63% CuEq (0.49%Cu, 0.24 g/t Au)¹.
The program's initial hole will be collared near PVT-16-002 and angled south east while subsequent holes will be collared approximately 100m and 200m south of PVT-16-002 and will drill to the east beneath the strongest copper in soil anomaly. The 28 hectare target area outlined in Figure 2 has enhanced copper, gold, silver and molybdenum in soils, plus porphyry pathfinder geochemistry exhibiting depletion in manganese and enrichment in bismuth and selenium — all suggesting a broad porphyry system at moderate depth. The magnetics and IP chargeability also show characteristics suggesting the presence of a significant porphyry system.
Figure 2: Priority Provost Target showing the location of the first drill hole planned in the current drill campaign
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The Provost SE Target is located 1.25km southeast of the Provost Target and lies along the Southern Alteration Zone (SAZ), which is defined by a corridor of manganese depletion and enrichment in bismuth, selenium and other porphyry cap pathfinders. Copper, gold, silver and molybdenum are also highly enriched in the 23 hectare Provost SE target area. Surface mapping has outlined several alteration zones marked by limonite, hematite and quartz as well as a zone of epidote, chlorite ± sericite. The magnetic signature at the Provost SE target area shows a slight magnetic high within an area of mag low, very similar to the magnetic signature at the Connors Porphyry. IP chargeability is in the 20 to 30 millirad (MRad) range at surface, broadening at depth, all favourable to the presence of a porphyry system.
The Connors SE Target area is inferred to be one of a series of porphyries within the Northern Alteration Zone (NAZ) that includes the Connors Porphyry located just over 1.0km to the northwest. The NAZ has a porphyry pathfinder geochemistry signature similar to the signatures over copper porphyries throughout the SAZ such as Hendley, Provost, Camel Hill and Geo Hill. At Connors SE, copper, gold, molybdenum and porphyry pathfinder soil anomalies are separated by a high bedrock ridge composed of volcanics; the porphyry indicator anomalies are muted on this ridge due to the rock thickness. The 60 hectare target area is defined by elevated and anomalous copper and gold as well as porphyry pathfinders and also exhibits a strong Ti-Zr ratio indicative of a porphyry intrusive system.
The Hendley Target is located in the SAZ, 1 kilometre north west of Provost. Drilling will focus on following up on drill hole HEN-15-003, which intersected 261m of 0.22% Cu and 0.07 g/t Au¹. It will be drilled from the same collar as HEN-15-003, which intersected porphyry mineralization, and will target high copper and gold in soil anomalies. Porphyry pathfinder elements suggest a porphyry-type body(ies) at moderate depths. Some of the geochemistry in the central part of the target area is muted by conglomerate cover. The IP chargeability and resistivity anomalies, which characterize this target, indicate a mineralization system at shallow to moderate depths.
The drilling program is expected to run for 2 months with the first tranche of results expected in June.
¹The intervals do not necessarily indicate true width of mineralization, as its geometry is not known. Copper equivalents are calculated using a US $3.00/lb. copper and a US$1200 per ounce gold price assuming unlimited internal dilution and 100% recovery of both metals. Sample Preparation, Analysis and Quality Control: For a description of these items as pertaining to drill core and soil samples please see disclosure on Carube Copper's website http://www.carubecopper.com/legal_notices.html. Carube Copper and Activation Laboratories all have robust sample security and quality control programs in place for samples collected in Jamaica.
—END PRESS RELEASE —
Contacts
Jeff Ackert, President and CEO • 1-613-839-3258 • jackert@carubecopper.com
Vern Rampton, Executive VP of Corporate Development • 1-613-839-3258 • vrampton@carubecopper.com
Alar Soever, Chairman • 1-705-682-9297 • asoever@carubecopper.com
www.carubecopper.com
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.
QP Statement: This press release has been reviewed and approved by Dr. Vern Rampton, P. Eng. in his capacity as a qualified person as defined under NI 43-101.
Carube Copper Corp. (TSXV: CUC) is a Canadian exploration company focused on the exploration and development of copper and gold projects in Jamaica and Canada. In Jamaica, Carube Copper holds a 100% interest in 11 licenses, totalling 535 square kilometres. In Canada, it holds a 100% interest in three porphyry copper-gold-molybdenum properties, totalling 469 square kilometres within the Tertiary-aged Cascade Magmatic Arc in southwestern British Columbia. Exploration continues on these properties with the goal of joint-venturing them to larger exploration and mining companies. Carube Copper continues to seek opportunities in Canada and the Caribbean for acquisition and development.
DISCLAIMER & 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 Corp. provides no assurance that actual results will meet management's expectations. Factors which cause results to differ materially are set out in the Company's documents filed on SEDAR. Undue reliance should not be placed on "forward looking statements."
IMPORTANT NOTICE: By reference herewith, Carube Copper incorporates into this release the entire disclaimer set forth on its website at http://www.carubecopper.com/legal_notices.html.