CopperBank Starts Exploration Work on Its San Diego Bay Project, Alaska
VANCOUVER, BC / ACCESSWIRE / August 21, 2017 / Copperbank Resources Corp. ("CopperBank" or the "Company") (OTC PINK: CPPKF) (CSE: CBK) is pleased to announce that it will initiate a selective reconnaissance work program at its San Diego Bay prospect, located 10 kilometres west of the Pyramid copper deposit, on the Alaskan Peninsula under the terms of an exploration agreement with The Aleut Corporation.
The program will consist mainly of prospecting and soil sampling over areas presenting historical anomalous copper and gold values. This program will enable our team to verify the presence of copper and gold mineralization and help prioritize future exploration work on this extensive prospective region. Historical copper grades reaching 4.3 % and 16% Cu and several gold values over 1 g/t are reported in rock samples of the selected areas. A location map of the proposed program can be found on the company website and can be accessed by the following link: http://copperbankcorp.com/alaska-projects/san-diego-bay. A representative of SRK Consulting (Canada) Inc. ("SRK") was part of a recent site visit to the project to initiate a 43-101 technical report for the San Diego Bay prospect once this work program is complete.
Gianni Kovacevic, CopperBank Executive Chairman, comments, "The vast colour anomaly over the area is impressive and has never been tested at depth. The proposed program will help orient future exploration work. Subject to results, we aim to have a more robust program at San Diego Bay for the 2018 season."
About San Diego Bay
The San Diego Bay Prospect is located on private property and is a joint venture on a 100% basis between CopperBank and the Aleut Corporation, an Alaska Native corporation controlling the subsurface mineral rights. The San Diego Bay prospect is typified by an extensive 40 square-kilometer area of strong hydrothermal alteration and intrusive rocks, consistent with an alteration halo over a porphyry system such as the adjacent Pyramid deposit, also controlled by CopperBank. All porphyry alteration facies have been described, including zones of potassic, advanced argillic and phyllic zones; a previous satellite imagery interpretation has identified widespread zones of high-temperature clay alteration. Strongly anomalous precious and base metal values were collected by previous operators in various areas. A short visit in August has allowed the Company to verify punctually the lithologies and alteration reported historically. Interpretation suggests that San Diego Bay may represent a long lived thriving hydrothermal system.
The intrusive lithological facies observed are similar to the ones observed at the adjacent Pyramid deposit presenting a leach cap of variable thickness ranging from 10 to 100 meters and underlain by a supergene enrichment blanket. Cobbles of copper oxide mineralization have been identified by local Aleut shareholders on beaches adjacent to the alteration zone. Based on all the here listed observations, San Diego Bay presents an excellent potential for a significant Cu-(Au) porphyry deposit at depth combined with an excellent location, 5 kilometers away from deep tide water and offering access over the Pacific Ocean.
For more information on CopperBank Resources, visit the website at www.copperbankcorp.com. Brigitte Dejou, P.Geo and Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this release.
CopperBank is a Canadian exploration mining company focused on energy related metal exploration in The United States of America. The Company trades on the Canadian Securities Exchange under the symbol "CBK."
On behalf of CopperBank Resources Corp.
"Gianni Kovacevic"
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: gk@copperbankcorp.com
Website: www.copperbankcorp.com
Advisory Regarding Forward-Looking Statements
Certain information in this release constitutes forward-looking statements or information ("forward-looking statements") under applicable securities laws and necessarily involves risks and uncertainties. Forward-looking statements included herein are made as of the date of this news release and, except as required by applicable law, CopperBank does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Forward-looking statements relate to future events or future performance and reflect management of CopperBank's expectations or beliefs regarding future events. In certain cases, forward-looking statements can be identified by the use of words such as "plans," or "believes," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," or "be achieved," or the negative of these terms or comparable terminology. Examples of forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's ongoing review of its existing portfolio, the involvement of CopperBank in any potential divestiture, spin-out, partnership or other transactions involving the Company's portfolio assets, and the ability of the Company to complete any such transactions, the ability of CopperBank to enter into transactions that will ultimately enhance shareholder value, and potential future work or activities in respect of the Pyramid project or the Contact project. Although CopperBank believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to CopperBank. Forward-looking statements are based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include but are not limited to the Company's ability to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Such factors include, but are not limited to, the risk that the Company will not be able to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. Although CopperBank has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. For more information on CopperBank and the risks and challenges of its businesses, investors should review the continuous disclosure filings that are available under CopperBank's profile at www.sedar.com.
SOURCE: Copperbank Resources Corp.