CAVU Energy Metals Updates on Drilling Progress at Hopper Porphyry Copper Project in Yukon
Vancouver, May 24, 2022 - CAVU Energy Metals Corp. (CSE: CAVU) (OTCQB: CAVVF) (FSE: 8NQ) ("CAVU" or the "Company") is pleased to provide an update on its exploration program on the Hopper porphyry copper project in Yukon. The Hopper Project is located in the traditional territory of the Champagne and Aishihik First Nations.
Highlights
- Vein-controlled molybdenum and copper mineralization was identified in several sections of core from holes drilled by previous operators and provide further evidence of a large porphyry system on the Hopper Project
- All unsampled intervals with porphyry style alteration and mineralization are now sampled and will be assayed
- Drill crews are making excellent progress with 580 m drilled in two holes at the Copper Castle skarn on the fringe of the porphyry system
- The Company expects to start porphyry drilling in the coming days
"The drilling program is off to a great start and we have an excellent crew in the field," stated Dr. Jaap Verbaas, CEO of CAVU. "As part of the program, our VP Exploration, Dr. Luke Bickerton, re-assessed all unsampled historic core on site to further refine our porphyry targets. Several drill intercepts were observed with vein-controlled molybdenite and chalcopyrite that were not sampled, near both the northern and southern porphyry targets. The type of alteration and mineralization in these intercepts are consistent with proximal porphyry centres.
"Two historic holes bottomed in previously unsampled mineralization. Most importantly, hole HOP15-05 bottomed in 50 m of propylitic alteration with intermittent chalcopyrite, which is believed to be continuous with the intercept in hole HOP21-DDH06 from our 2021 drill program. The unsampled historic core are early validation of our work on the southern porphyry target and will be assayed this summer. The intercepts strengthen our belief that the project hosts a large multi-target calc-alkalic porphyry system, which we look forward to drilling in the coming days."
Figure 1. A) Vein controlled potassic alteration and molybdenite at EOH of HOP DDH15-04. B) Vein controlled chalcopyrite and molybdenite with potassic alteration through granodiorite at 427m in HOP DDH15-005. C) Vein controlled pyrite and chalcopyrite with potassic alteration through porphyry dike at 425m in HOP DDH16-14.
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Historical Core Sampling near South Porphyry
Several intercepts of core with visible copper and molybdenum mineralization were not sampled during past programs. These intercepts include quartz-feldspar porphyry dikes at depth in the Copper Castle zone containing weak to moderate chlorite-magnetite±epidote alteration with veins of quartz-molybdentie-chalcopyrite±pyrite and minor disseminated equivalent sulfides. Sampling these mineralized intercepts provides additional constraints to genetic relationships of metals in the Copper Castle zone and adjacent South Porphyry target and suggests this style of mineralization is open at depth. Proposed drilling into the South Porphyry target in this area will follow-up these unknowns.
Historical Core Sampling near North Porphyry
Previously unsampled core in hole HOP-15-005 in the last ca. 75m also contains evidence for porphyry-style mineralization and alteration. The sampled interval contains vein-controlled and disseminated chalcopyrite and molybdenite associated with both moderate to strong chlorite-magnetite±epidote and quartz-sericite-pyrite±carbonate alteration. These alteration assemblages are typical in zones proximal to the mineralized centres of porphyry deposits. The sampling extends known disseminated copper mineralization ~200m north and ~200m at depth from the well mineralized interval in HOP21-DDH06 (Figure 2).
Figure 2. Section through the northern porphyry target looking northeast. Sampling of historic core noted in HOP-15-005. The hole bottomed in mineralization. Hole HOP21-06 bottomed in a series of dikes that diluted the overall mineralization.
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Figure 3. Section looking northeast through the northwestern Copper Castle skarns with existing and proposed drilling in red. Sampling of historic core noted in the image with examples shown in Figure 1.
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Drilling progress
Drilling on the Hopper Project is proceeding well with 580 m drilled in two holes in the Copper Castle Skarn so far. Drilling of the third hole is currently in progress. The first batch of samples will be sent to the assay lab later this week and assays are expected to be turned around in 3 - 4 weeks.
Data Verification
All holes and drill data shown in the figures is available in the project NI43-101 technical report written by Jean Pautler, P.Geo, and filed on SEDAR in February 2022. Historical core (as well as newly drilled core) was halved on site. One half of the drill core remains on site in the core storage facility. The other half of the core was bagged and security tagged and will be sent to ALS laboratories for multi-element chemical analysis and assay.
QP Statement
Roger Hulstein, P. Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented within this news release.
About CAVU Energy Metals Corp.
CAVU Energy Metals Corp. is a mining company engaged in the acquisition, exploration and development of mineral projects containing metals used in green technologies and the renewable energy sector. The Company is currently focused on the exploration of its Hopper Copper-Gold Project in Yukon and recently acquired Star Copper-Gold Porphyry Project in BC. For more information, visit www.cavumining.com.
On behalf of the board of directors,
Dr. Jaap Verbaas, P.Geo.
CEO and Director
CAVU Energy Metals Corp.
jverbaas@cavumining.com
604-493-2997
Forward-Looking Statements
All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission and the Ontario Securities Commission.
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