CopAur Minerals Starts 2023 Drill Program at Kinsley Mountain Gold Project
CopAur To Host Virtual Conference On Kinsley Mountain Developments
Vancouver, May 15, 2023 - CopAur Minerals Inc. (TSXV: CPAU) (OTCQB: COPAF) ("CopAur" or the "Company") is pleased to announce it has finalized plans for an upcoming 3,000 metre (m) combined reverse circulation (RC) and diamond core drilling program at the Company's flagship Kinsley Mountain Gold Project (the "Kinsley Mountain Project" or "Kinsley Mountain") in Elko County, Nevada.
CEO Jeremy Yaseniuk stated, "The last drill program completed in 2020 yielded new surface oxide gold discoveries at Secret Spot and some of the highest grade near surface oxide gold ever intersected on the Project at Main Pit North, located only 75 metres outside our current resource pit shell. These have never been followed up on until now. Through execution of our planned 2023 drilling, we see a path forward to the expansion of near surface oxide gold resources, the potential for new near-mine discoveries through the testing of IP-geophysical anomalies, and continued demonstration of the quality of our high-grade gold Western Flank Zone gold resource via targeted infill drilling."
Kinsley Project hosts current mineral resources comprising the high-grade sulphide Western Flank Zone and near surface oxide of 418,000 indicated ounces gold at 2.63 grams-per-tonne (g/t) gold, and 117,000 inferred ounces gold at 1.51 g/t gold1. Indicated resources are inclusive of 302,000 ounces averaging 6.11 g/t gold hosted within the Secret Canyon Shale at the Western Flank Zone. The Kinsley Project was an historical past producer that yielded 138,000 ounces of near surface open pit oxide gold between 1995-1999 (Figure 1).
Figure 1. Kinsley Mountain Gold Project Cross Section Through Mine Trend (Looking northeast)
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The 2023 Kinsley Mountain drill program will comprise up to 2,300 metres of RC and 1,200 m of diamond drilling comprising resource infill drilling of the high-grade gold Western Flank Zone (2 core holes for 700 m), near surface oxide-gold resource expansion and delineation (19 RC holes for 2,300 m) at the Main Pit North Oxide and Secret Spot targets, in addition to testing of new IP/chargeability anomaly located between the WFZ and Upper Ridge Pit area (1 core hole for 500 m, Figure 2).
Figure 2. Kinsley Mountain 2023 Planned RC and Diamond Drilling
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The planned 2023 drilling is designed to follow up on the highly successful 49 hole, 18,000 metre 2020 drill campaign the results of which underscored the resource expansion potential that remains at Western Flank Zone, Main Pit North Oxide, and the Secret Spot targets with highlights including2:
Western Flank resource expansion drilling
- 10.22 g/t gold over 6.1 metres within a broader zone grading 2.63 g/t gold (sulphide) over 38.10 metres in KMR20-017
- 15.1 g/t gold (sulphide) over 7.6 metres, including 24.1 g/t gold (sulphide) over 4.6 metres lower zone, 9.08 g/t gold (sulphide) over 6.1 metres upper zone in KMR20-026
Main Pit North Oxide Target yields high-grade intercepts 75 m outside the current pit shell
- 9.83 g/t gold over 7.6 metres high-grade shallow oxide
New surface oxide Discovery at the Secret Spot, including
- 1.77 g/t gold over 25.3 metres in new surface oxide discovery in KMD20-007B
About CopAur Minerals Inc.
CPAU is an exploration company focused on developing projects within the emerging, mineral-rich mining regions of Nevada and British Columbia. The Company is backed by a dynamic and experienced team of resource professionals advancing multiple holdings across both regions; the Kinsley Mountain Gold Property, the Bolo property and Troy Canyon property all located in Nevada and the Williams gold-copper property located in British Columbia. The Company holds a 79.99% ownership interest in the Kinsley property, a 50.01% ownership interest in the Bolo property, a 100% interest in the Troy Canyon property and a 100% ownership interest in the Williams property.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC), Principal and Consultant, and Christopher W. Livingstone, P.Geo. (BC), Senior Geologist, both of APEX Geoscience Ltd. of Edmonton, AB, and "Qualified Persons" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Raffle and Mr. Livingstone have verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
Events
CopAur would like to invite all our stakeholders to participate in a virtual presentation relating to the developments and plans the Company has on the Kinsley Mountain Gold property. The event will take place Wednesday 17th, 2023 at 10:00 AM/ PST. To tune in please use the Zoom link provided: https://us06web.zoom.us/j/85625934747?pwd=ajVENldPVTZxWkFpNWl2akNZaXpyUT09
For more information, please contact:
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Email: jeremyy@copaur.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Information
This news release includes certain statements that constitute "forward-looking information or statements" within the meaning of applicable securities law, including without limitation, conducting exploration work on its projects, receipt of assays, other statements relating to the technical, financial and business prospects of the Company and its properties, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as "social licence"); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company's prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, government regulations and policies, litigation, exchange rate fluctuations, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, decrease in the price of gold and other metals, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
1 Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021, with an effective date of May 5, 2021, and prepared by Michael M. Gustin and Gary L. Simmons, and filed under New Placer Dome Gold Corp.'s issuer profile on SEDAR (www.sedar.com).
2 True widths of the mineralized intervals are interpreted to be between 60-90% of the reported lengths.
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