Allied Copper Corp. [CPR-TSXV; CPRRF-OTCQB] reported results of the first modern drill test of the Klondike property, financed by Allied and in partnership with Alianza Minerals Ltd. [ANZ-TSXV; TARDF-OTCQB] and Cloudbreak Discovery PLC [CDBDF-OTC] under the terms of an earn-in agreement with the alliance.
Five holes were completed, testing targets at the Northeast Fault (two holes), West Graben Fault (two holes) and East Graben Fault (one hole). At the West Graben Fault, hole KDB22-05 yielded a 42-metre long (core length) section with strong alteration and anomalous copper mineralization in a halo surrounding a fault intersection of 4.26% copper over 1.06 metres.
Management interprets this as a strong indication of the potential for copper mineralization in the main strand of the West Graben Fault. With 76 unpatented mining claims, a State of Colorado Exploration Permit and an exclusive right to a State lease, the Klondike property affords Allied and the Alliance extensive runway to define additional copper exploration targets.
“We are very pleased with the results of this first drill test, which intersected a strand of the West Graben Fault featuring a large alteration footprint and the presence of high-grade copper mineralization,” stated Warner Uhl, Executive Chairman of Allied. “This represents an important milestone in our journey to build a battery metals-focused company with the size and scale to deliver critical inputs needed for a clean energy future. Further, by focusing on assets within high integrity jurisdictions, such as Colorado for copper and Alberta for our lithium assets, stakeholders can be confident we are adhering to robust regulatory regimes with strong environmental regulation, all of which are important ingredients in the generation of long-term value for shareholders.”
Drill hole KDB22-01 (North East Fault) returned 11.40 metres of 0.34% copper, including 6.80 metres of 0.51% copper. KDB22-02 (West Graben Fault) returned 0.88 metres of 0.13% copper. KDB22-03 (East Graben Fault) returned 2.69 metres of 0.21% copper and 0.61 metres of 0.66% copper.
KDB22-04 (North East Fault) returned 3.08 metres of 0.24% copper, including 1.04 metres of 0.57% copper. KDB22-05 (West Graben Fault) returned 1.06 metres of 4.26% copper, and 1.53 metres of 0.39% copper and 1.05 metres of 0.17% copper.
The Klondike property is located approximately 25 km south of Naturita, Colorado. This property lies within the Paradox Copper Belt, which includes the producing Lisbon Valley Mining Complex, located 50 km to the northwest.
The 2022 drilling program followed a 2021 reconnaissance program that consisted of mapping, stream sediment sampling and rock sampling at the Klondike property to help define drill targets at the West Graben Fault and East Graben Fault. Rock sampling and mapping successfully expanded the footprint of both targets and identified a new target, named the North East Fault.
The Klondike property features year-round access, being situated approximately 2 km along a gravel road off of a paved highway. The project is comprised of 76 mining claims on Federal mineral rights managed by the US Bureau of Land Management (BLM), in addition to an Exploration Permit and the exclusive right to a State lease from the State of Colorado.
Allied’s core assets include a partnership agreement to earn-in on the copper-focused Klondike property in Colorado, and via the company’s wholly-owned subsidiary, Volt Lithium Corp., approximately 400,000 acres of mines and minerals permits in the Rainbow Lake area of Alberta, specifically targeting lithium found in the brines of the Keg River formation.