District Copper Adds More Claims to Copper Keg Project in British Columbia
Vancouver, June 12, 2024 - District Copper Corp. (TSXV: DCOP) ("District Copper", "District", or the "Company") is pleased to report that it has added 3 new claims to its highly prospective the Copper Keg project. The Copper Keg porphyry copper project is located approximately 55 kms west of Kamloops British Columbia. The property now covers approximately 6,628 ha, an increase of over 20% to the land holdings. The property is located at the north end of the Guichon Creek batholith which hosts Teck's Highland Valley Copper operations.
Two of the new claims cover extensions of the Guichon Creek Batholith across the Thompson River where multiple historic soil geochemistry anomalies occur. The third claim lies in the centre of the property.
The company is currently developing an exploration program for the upcoming field season.
Jevin Werbes, President and CEO of District Copper, commented, "We are pleased to have added these additional claims to the Copper Keg as these now give District Copper complete control over the porphyry target and the associated anomalies."
Acquisition Terms
- $20,000 cash ($5,000 on signing, balance on TSX-V approval
- 1,500,000 shares upon TSX-V approval
- 2% NSR with 50% purchasable for $1,000,000
About the Copper Keg property
Historical exploration spans from the late 1800's to 2012. The early stage exploration is reported to consist of mining high grade copper veins.
The property exhibits the geochemical/alteration/lithologic features typical of the argillic altered potion of a porphyry copper system at/along the potassic/propylitic contact. The property is characterized by a large, pyrite bearing, argillic zone exposed along the surface trace of the Barnes Creek fault, a major NNW trending that crosses the Guichon Creek Batholith. The high-grade copper veins noted above, reflect supergene enrichment of distal base metal veins typically associated with a porphyry copper system.
Mapping has described pale grey-green (possibly phyllic alteration) outcrops of Guichon intrusive and late-stage Quartz Feldspar and Quartz Feldspar Hornblende dikes indicating multi-phase intrusive activity. The hydrothermal alteration is post Guichon intrusive and pre-dates the late-stage intrusive dikes.
The erratic and wide range of copper values (0.025 to 0.76%), in the gossanous (after pyrite), argillic altered zone, exhibit characteristics typical of a leach cap to a porphyry system.
The project is underlain by an intrusive phase of the Guichon Creek batholith intruded the surrounding Nicola Group rocks.
Petrographic work and K/Al: Na/Al ratios indicate an alteration package ranging from argillic-phyllic- potassic (all alteration phases associated with porphyry copper systems) supported by alteration minerals indicative of the inner actinolite subzone of a porphyry system as well as secondary biotite (Potassic alteration) and sericite (phyllic alteration), quartz veinlets with pyrite and chalcopyrite.
A large pyritic zone exhibits spatial association with the argillic altered zone and could be representative of what is commonly referred to in porphyry copper terms as the "pyrite shell". Chalcopyrite, bornite and malachite (secondary copper carbonate) have been observed in outcrop and support the presence of a porphyry system.
Two highly altered gossans have been identified along the interpreted trace of the Barnes Creek fault, a major structure within the Guichon Creek batholith. The first area (800m long by 200m wide); the second area is 600 m south and smaller in extent. These gossans exhibit erratic copper concentrations, weak copper-silver soil anomalies and copper mineralogy typical of a leach cap.
Since the Company acquired the property in 2021, it has completed mapping and prospecting, soil sampling, and ground and airborne geophysical programs. Results from this work are consistent with the presence of a leach cap to a porphyry system.
Qualified Person
Chris M. Healey, P.Geo., Chief Geologist, and a Director of District Copper Corp., is the qualified person under NI 43-101 guidelines who is responsible for the technical content of this release and approves its release.
About District Copper
District Copper is a Canadian company engaged in the exploration for porphyry copper deposits in south-central British Columbia.
For further information, please visit www.districtcoppercorp.com to view the Company's profile or contact Jevin Werbes at 604-363-2506.
Jevin Werbes, President & CEO
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 release. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release is not for distribution in the United States or over United States newswires.
Cautionary Statement on Forward-Looking Statement
Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, including, without limitations statements regarding future production, 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.
In connection with the forward-looking information contained in this news release, District Copper has made numerous assumptions regarding, among other things: the geological advice that District Copper has received is reliable and is based upon practices and methodologies which are consistent with industry standards and the reliability of historical reports. While District Copper 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 District Copper'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: the dimensions and shape of the mineralized areas may not be as estimated; the targets outlined by the MVI study may not be associated with felsic intrusives porphyry style alteration or mineralization; the proposed surface program may eliminate these areas as potential targets for future exploration; the NNW trending structures may not contain indications of magnetite destruction typical of hydrothermal alteration; uncertainties relating to interpretation of the outcrop sampling results; the geology, continuity, and concentration of the mineralization; the financial markets and the overall economy may deteriorate; the need to obtain additional financing and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals.
A more complete discussion of the risks and uncertainties facing District Copper is disclosed in District Copper's continuous disclosure filings with Canadian securities regulatory authorities at www.sedarplus.ca. All forward-looking information herein is qualified in its entirety by this cautionary statement, and District Copper 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.
NOT FOR US DISTRIBUTION OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212593