Allied Copper Receives MMI Soil Sample Results For SK Property, Eastern Nevada, USA
VANCOUVER, Jan. 11, 2022 - Allied Copper Corp. (TSX-V: CPR, OTCQB: CPRRF) (the "Company" or "Allied Copper"), is pleased to announce that the Company has now received all the laboratory analytical results of the Mobile Metal Ion Soil Geochemistry (MMI) soil samples from the Silver King (SK) Property in Eastern Nevada. The analytical data has been cross checked and compiled by Rene Victorino (P. Geo.), QP for Allied Copper Corp.
The program involved the collection of soil samples within the original SK area and a promising southern target area. The program served to expand and infill the coverage of an MMI soil sampling process carried out in 2007. This new MMI soil sampling program further traced out soil geochemical anomalies that complement the ground geophysical survey data. The information will assist in delineating attractive drill targets for the exploration program planned for Q2 and Q3 2022.
The surface geochemistry program involved the coverage of five (5) 2 km-long NE-SW lines in the southern target area, and another four (4) 2.2 km-long NE-SW lines and one (1) 3 km-long E-W line in the SK area. Sample spacing in these areas is 50m and the lines are 350m to 500m apart. The gap was filled in between these two targets and additional samples along four (4) E-W lines, about 4 km in length, were also collected. The sample lines in the middle ground are 600m apart and sample spacing along the lines is 50m. A total of 835 samples were sent to the laboratory for MMI analysis. These samples included 797 regular soil samples, 20 field duplicates and 18 blanks which were inserted as part of the program's external QA/QC procedures.
The data is currently being validated, processed, and consolidated with previously gathered field data. The updated and more comprehensive results of the soil geochemistry study will be used to finalize the layout of the ground 3D IP-Resistivity geophysical survey. Allied Copper anticipates the survey will be completed in Q1 2022. Initial data runs confirm multi-element soil anomaly zones over the SK and South target areas. More specifically, distinct outlines of elevated values of Cu, Ag, Au, Pb and Zn were identified, further enhancing the property's potential to host porphyry system-related and associated skarn-type mineralization.
In its ongoing efforts to raise its corporate profile and market awareness, Allied Copper confirms today engagement of Triple Bull Consulting for a one-year period which commenced Oct.1, 2021. Triple Bull will be paid a CAD$40,000 lump sum, a monthly fee of CAD$3,500+ GST and will be issued 400,000 stock options at CAD$0.405. Services that will be provided are investor awareness, marketing planning and data tracking.
In addition, Allied Copper Corp., confirms engagement of Supercharged Stocks Ltd., Capital Analytica and Streetwise Reports, to provide marketing consultation, investor awareness advice and execution of on those campaigns. The engagement of Supercharged is for a one- year period, which commenced on November 15, 2021, for a fee of CAD$100,000.
The engagement of Capital Analytica is for a six-month period which commenced on Nov. 4, 2021, for a fee of CAD$80,000.
The engagement of Streetwise Reports is for a six-month term which commenced on Nov. 4, 2021 for a fee of USD$22,000.
About Allied Copper
Allied Copper Corp. ("Allied Copper") (TSX-V: CPR) (OTCQB: CPRRF), headquartered in Vancouver, BC Canada, is a mineral exploration company focused on acquiring and developing potential long life, scalable copper and/or gold assets in the Western U.S. The Company's strategy is to focus on low cost and potential high growth operations in low-risk jurisdictions. Allied Copper's management is committed to operating efficiently and with transparency in all areas of the business. Investors and/or readers may sign up for updates on the Company's website: www.alliedcoppercorp.com
Qualified Person
Rene Victorino (P. Geo.) is the "Qualified Person" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects who has reviewed and approved the technical information that is contained within this news release.
On behalf of the Board of Directors of Allied Copper Corp.,
Mr. Warner Uhl
Executive Chairman
Contact Information
For Investor Relations inquiries or further information, please contact:
Richard L. Tremblay
Pres., CEO and Director
Cell: (604) 250-4853
E-mail: rtremblay@alliedcoppercorp.com
Forward Looking Statements- Safe Harbour
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Allied Copper Corp., future growth potential for Allied Copper and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of copper and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Allied Copper' ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may Constitute forward looking information and include, without limitation, statements about; anticipated timing and content of upcoming work programs, geological interpretations, receipt of property titles, and potential copper recovery processes; anticipated dates for receipt of permits, approvals and other milestones; anticipated Results of drilling programs, feasibility studies and other analyses; anticipated availability and terms of future financing; future production, operating and capital costs; and operating or financial performance. Information concerning potential contingent copper resource estimates also may be deemed to be forward-looking information in that it reflects a prediction of the copper bearing zones that would be encountered if a copper structure were developed and produced. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of copper deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.