CopperBank Intercepts 324 Meters of 0.31% Copper (0.43% CuEq) at - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

CopperBank Intercepts 324 Meters of 0.31% Copper (0.43% CuEq) at Pyramid

VANCOUVER, BC / ACCESSWIRE / November 14, 2017 / CopperBank Resources Corp. (”CopperBank” or the ”Company”) (CSE: CBK) (OTC PINK: CPPKF) is pleased to report results for the last seven holes from its thirteen diamond drill hole (DDH) summer 2017 program on its 100% controlled Pyramid Copper Project (”Pyramid”) located on the Alaskan Peninsula. Results from the 2017 drill program will enable the Company to produce an updated resource estimate in the upcoming months.

Highlights from the final seven drill holes include DDH 17PY037 which is entirely outside the historical resource envelope and was mineralized from 7.3 meters over its entire length. Furthermore, mineralization found in DDH 17PY039, 17PY041 and previously drilled hole 12PY021 assists in linking the Main Zone to the West Zone. Consolidated results of the entire 2017 campaign are listed in the following table:

Hole No

From

m

To

m

Width

m

Cu

%

Mo

%

Au

g/t

CuEq

%

17PY037

7.3

331.6

324.3

0.31

0.02

0.12

0.43

17PY038

11

61

50.0

0.31

0.01

0.24

0.36

17PY039

60

116

56

0.34

0.00

0.08

0.34

17PY040

7

309

302

0.10

0.01

0.06

0.18

17PY041

74

154.2

80.2

0.33

0.01

0.02

0.36

17PY042

7.9

248.8

240.9

0.12

0.03

0.04

0.22

17PY043

171

203

32

0.15

0.01

0.01

0.20

Previously reported drill holes from the 2017 program (applying no cut-off)

17PY031

24

30

6

0.24

0.05

0.04

0.39

17PY032

3.1

401.7

399.6

0.35

0.02

0.08

0.44

17PY033

64

364

300

0.53

0.02

0.12

0.65

17PY034

7

239.9

232.9

0.19

0.04

0.06

0.33

17PY035

42

179

137

0.45

0.02

0.15

0.60

and

205

319

114

0.37

0.01

0.08

0.45

17PY036

22.5

202.0

179.5

0.37

0.03

0.12

0.52

Note: The copper equivalent (CuEq) values in this press release are calculated based on estimated prices of US$2.75/lb of copper, US$1,200/oz of gold and US$7.25/lb of molybdenum. No metallurgical tests were done. Metal recovery is unknown and was not taken into account. True width of intervals is yet to be defined.

The 2017 drilling program, comprising 3,690 meters in thirteen diamond drill holes, was designed to verify the extensions of known mineralization within the deposit and to validate the historical resource estimate (SRK, June 2013). Detailed maps and cross sections of all the drill holes can be found here. Previous diamond drill holes were reported in press releases dated October 4, 23 and 30, 2017.

CopperBank Executive Chairman, Gianni Kovacevic, commented, ”The 2017 drilling campaign at Pyramid has achieved its goal of confirming the presence of significant copper mineralization as well as identifying the extension of higher grade zones falling outside of the historical resource envelope. With these results now in hand, we expect an updated resource estimate to be completed in the coming months. The data acquired as part of this most recent drill program has significantly increased our understanding of the deposit and will additionally help define a follow-on work program at Pyramid in 2018.”

Drill Hole 17PY037

DDH 17PY037 was planned to verify the orientation of the mineralization between the three mineralized zones: Main, North and West. The 324-meter intercept proves a link between the North and Main zones, and the observed copper mineralization is of a higher grade than in the West zone.

Drill Hole 17PY038

Located in the North Zone between historical holes 10PY001 and 11PY010, DDH 17PY038 intercepted mainly hornfels intruded by a few porphyry dykes. Chalcopyrite and chalcocite disseminations comprise the mineralized interval restricted to the top 50 meters of the hole. The hole was terminated at a depth of 162.76 meters after entering the phyllic alteration zone.

Drill Hole 17PY039

Also located at the intersection of the three mineralized zones, the lithologies and copper grades of hole 17PY039 clearly show an affiliation to the West zone. The copper mineralization is comprised of chalcopyrite and chalcocite mineralization, which appears to be associated with quartz feldspar porphyry dykes.

Drill Hole 17PY040

This hole was drilled to test outcropping chalcocite mineralization located south of the North Zone. The hole intersected quartz diorite porphyry mineralization with variable amount of biotite, including a consistent interval of elevated copper mineralization starting a 7 meters depth with a weighted average grade of 0.10% Cu over 302 meters. Two samples collected from phenocryst-rich feldspar porphyry dykes additionally returned anomalous gold values of 1.14 g/t and 2.26 g/t.

Drill Hole 17PY041

Hole 17PY041 is located in the core of the West Zone, which was completed to verify the extension of mineralization between historical holes 12PY021 and 12PY022. The hole cross cut a series of feldspar porphyry dykes containing disseminations of chalcopyrite, chalcocite and chrysocolla before being abandoned due to complications with the drill rig. The hole bottomed in mineralization, with the last sample returning 1.26% Cu.

Drill Hole 17PY042

This hole tested the eastern extension of the North Zone and alteration observed in outcrop. The main lithology encountered was a weakly mineralized quartz diorite porphyry, characterized by anhydrite veinlets.

Drill Hole 17PY043

This hole tested the potential for a northern extension of the West Zone and was drilled between historical holes 12PY022 and 12PY023 to a depth of 203 meters. Hornfels is dominant in the first half of the hole, followed by feldspar porphyry dykes with weak mineralization observed in the second half reminiscent of the lithologies described in hole 17PY041.

Quality Control

All core samples collected during the 2017 drilling program are pulverized at the ALS Fairbanks facilities then pulps are sent to ALS Minerals Laboratories in Reno, NV. All pulps are analyzed by a 4 acid multi-element analysis for 61 elements by ICP-AES method and assayed for Au by standard atomic absorption spectrometry (Au-AA23) following the fusion by fire-assay of a 30 gram sample. Samples returning copper values higher than 1% are re-analyzed in Vancouver by ICP-AES following a four-acid digestion and those exceeding 1 g/t gold by gravimetric finish (Au-GRA21). Standards, blanks and duplicates were inserted every 20 samples consistent with industry best practices then revised by a qualified person using a Quality Assurance/Quality Control program before calculating the intervals.

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.

This press release was prepared by Brigitte Dejou, P.Eng and a Qualified Person as defined by NI 43-101.

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.

ReleaseID: 481886

Information contained on this page is provided by an independent third-party content provider. Frankly and this Station make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact pressreleases@franklyinc.com

  • Trending StoriesTrending StoriesMore>>

  • 50 employees fired after refusing flu shot

    50 employees fired after refusing flu shot

    Wednesday, November 22 2017 2:14 AM EST2017-11-22 07:14:40 GMT
    Wednesday, November 22 2017 2:14 AM EST2017-11-22 07:14:40 GMT
    At least 50 enployees at a health company have lost their jobs after refusing to get flu shots. (Source: KBJR/CN)At least 50 enployees at a health company have lost their jobs after refusing to get flu shots. (Source: KBJR/CN)

    Since September, employees have been given three options:  Get the flu shot, get an approved religious or medical exemption, or leave Essentia. At least 50 people have lost their jobs thus far.

    Since September, employees have been given three options:  Get the flu shot, get an approved religious or medical exemption, or leave Essentia. At least 50 people have lost their jobs thus far.

  • Lawsuit alleges sex acts, racial discrimination in Madison County Sheriff's Office

    Lawsuit alleges sex acts, racial discrimination in Madison County Sheriff's Office

    Wednesday, November 22 2017 8:50 PM EST2017-11-23 01:50:53 GMT
    (Source: WAFF file)(Source: WAFF file)

    A woman who worked as an investigator for the Madison County Sheriff's Office has filed a lawsuit alleging racial discrimination and misbehavior. 

    A woman who worked as an investigator for the Madison County Sheriff's Office has filed a lawsuit alleging racial discrimination and misbehavior. 

Powered by Frankly