Auracle to Complete Detailed Structure Survey at Pyramid and San Diego Bay
VANCOUVER, BC / ACCESSWIRE / November 17, 2017 / Copperbank Resources Corp. ("CopperBank" or the "Company") (CSE: CBK; OTC PINK: CPPKF) announces that it has hired Auracle Geospatial Science Inc. ("Auracle") to complete a remote sensing radar and hyperspectral survey for the Pyramid and San Diego Bay projects located on the Alaskan Peninsula. This study will allow CopperBank to acquire data relative to the nature of the alteration and its distribution pattern associated with the different types of mineralization present on the properties. The additional satellite radar study will assist in detecting the main structures controlling the mineralization that are masked at the surface by rubble, gravel, and vegetation. The new data shall be completed early 2018 and help the Company in the design of future exploration programs on both projects.
About Auracle:
Auracle is a geospatial technology company that has developed a world-class system to transform geospatial data captured from satellites, drones, and aircraft into high-resolution visual information about the earth. Auracle has developed a suite of mapping technologies that offers structural analysis and mineral classification to identify and map mineral occurrences and alteration zones associated with precious and base-metal deposits. What makes Auracle's technology and mapping suite unique is the way it combines radar and optical satellite data to penetrate vegetation, ground cover, water, ice, rocks, and soils.
"Auracle's technology works at, near and under the earth's surface enabling it to see through things that no other technology can claim," explains David McLelland, President & CEO of Auracle. "We are excited to apply The AURACLE SYSTEM to model the structure, texture, and lithology and to differentiate rock and formation types within this project area. We believe our geological interpretation and upgraded geological maps will help CopperBank's technical team to understand the host system, even when direct identification isn't possible in an extremely remote part of the world, to narrow prospective targets," said Mr. McLelland.
About Pyramid
The Pyramid project is located on private property with the subsurface controlled by The Aleut Corporation, an Alaska Native-owned corporation. Pyramid is a porphyry copper deposit containing a historical inferred mineral resource estimate of 122 million tonnes at 0.41% copper, 0.02% molybdenum, and 0.10 g/t gold (SRK, 2013) applying a 0.4% copper equivalent cut-off, divided into three main recognized zones: Main, North, and West. The mineralization is related to a multi-phased calk-alkaline intrusion, intruding sediments of Tertiary Age. The porphyry system is of a minimal extent of 1.5 km2, displays a leached cap, phyllic, propyllitic, and potassic alteration analogous to the other copper deposits of the Circum-Pacific Belt. The observed mineralization consists mainly in disseminations of chalcocite, chalcopyrite, and local molybdenite and sulphide veinlets. Bornite, malachite and chrysocolla are also reported as accessory minerals.
About San Diego Bay
The San Diego Bay project is located on private property and covers an area of 170 square kilometers with the subsurface controlled by The Aleut Corporation, an Alaska Native-owned corporation. The
lithologies are dominated by Tertiary andesitic porphyritic lava flows and volcaniclastics, minor dacite and rhyolite overlying Tertiary sediments and intruded by several felsic porphyritic intrusions. Alteration composed of iron oxides is characterized by deep, orangey colours spreading over several tenth of square kilometers. Historically collected pan concentrate sediments returned several copper (up to 0.24% Cu) and gold (up to 10 g/t Au) anomalies. Minimal historical exploration brought to light mineralized quartz veins and areas of highly clay/sericite/silica altered andesites. Gold values in collected rock samples reported up to 4 g/t Au and copper values as high as 16% Cu. Epithermal gold and copper porphyry mineralization will be the target of the future exploration programs.
For more information on CopperBank Resources, visit our website at www.copperbankcorp.com.
Contact Gianni Kovacevic, President and Executive Chairman of CopperBank, at:
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: gk@copperbankcorp.com
Website: www.copperbankcorp.com
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 - CSE under the symbol "CBK."
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.