CopperCorp Resources Inc. [CPER-TSXV; CPCPF-OTCQB] reported preliminary assay results from its first four drill holes (holes AP022, AP023, AP024 and AP025) at the Stellar zone, part of the Alpine prospect target area located at the southern end of the 100%-owned, 1,066 km2 AMC project in western Tasmania, Australia.
These results further confirm the companyâ€™s interpretation from historic drilling of multiple continuous zones of copper mineralization at the Stellar Zone over a strike length of 700 metres (open) and to a vertical depth of 300 metres (open).
The Stellar Zone forms part of the larger Alpine Prospect target at the southern end of the AMC Project. Copper mineralization at the Stellar Zone is interpreted to be Iron-Oxide-Copper-Gold (IOCG) in style and occurs within a strong, regional, north-south striking magnetic zone associated with the Arthur Metamorphic Complex that continues over 100 km of strike length within the AMC Project.
Additional high-priority exploration drill targets, Alpine West and Alpine North, have been identified at the Alpine Prospect through surface sampling and geophysical surveys. These new targets cover an area of approximately 1 km by 300 metres at Alpine North and 800 by 300 metres at Alpine West. The company is particularly encouraged by the discovery potential of these additional targets due to interpreted similarities with the geochemical and geophysical expressions over the drilled copper mineralization at the Stellar Zone.
The companyâ€™s ongoing drilling program is focused on step-out drilling to depth and along strike at the Stellar Zone, and will also begin sequential drill testing of additional targets at the Alpine Prospect. Assays from a further seven drill holes from the initial Stellar Zone drilling are pending. There has been significant delay in processing times at the laboratory and the additional seven holes will be reported shortly after they are received.
Drill hole AP022 returned 43.0 metres of 0.62% copper and 257 ppm (parts per million) cobalt and 31.0 metres of 0.25% copper and 87 ppm cobalt. Hole APO23 returned 17.7 metres of 0.54% copper and 203 ppm cobalt. Apo24 returned 42.1 metres of 0.60% copper and 252 ppm cobalt and 6.0 metres of 0.96% copper and 283 ppm cobalt and 43.0 metres of 0.33% copper and 174 ppm cobalt. Hole APO25 returned 18.3 metres of 0.69% copper and 254 ppm cobalt.
CopperCorp has approximately C$8.8M in its treasury.Stephen Swatton, president and CEO, stated: â€œThe company is very encouraged by these first drill assay results received from the Stellar Zone at Alpine which is the first exploration drilling to be conducted in the area in 14 years. The results are consistent with the historical drilling and, importantly, confirm continuity of mineralization between historical holes. Mineralization at the Stellar Zone is open along strike and at depth and results from recent geophysical and surface geochemical work has confirmed potential for a large-scale Iron-Oxide-Copper-Gold (IOCG) system at Alpine which the Company plans to continue testing as recently announced with the Alpine Phase 1 drilling program being expanded to 10,000 metres. The results further highlight the prospectivity of the Arthur Metamorphic Complex for IOCG style mineralization over which the company has a dominant land holding.â€