Star Copper raising $2.5 million, acquiring Copperlne project in B.C.
Star Copper Corp. [STCU-CSE, STCUF-OTCQX, SOP-FWB], a critical mineral exploration and development company, said it has stuck a definitive deal to acquire a 100% interest in the Copperline Property in north-central British Columbia.
The company also said it plans to complete a non-brokered private placement for gross proceeds of $2.5 million from the sale of up to 1.7 million flow-through units priced at $1.50 per unit under the Listed Issuer Financing Exemption.
Each FT unit will consist of one “flow-through” common share and one flow-through share purchase warrant. Each FT warrant will be exercisable to acquire one common share at a price of $1.60 per warrant share for 24 months from the LIFE closing date.
On Thursday, the shares were unchanged at $1.29 and trade in a 52-week range of $1.52 and 11.5 cents.
The Copperline property consists of eight mineral claims totaling approximately 4,500 hectares, situated near Skutsil Knob at the south end of the Driftwood Range, approximately 120 kilometres northeast of Smithers B.C.
Historical exploration dates back to the 1930s, with trenching by Cominco followed by diamond drilling in the 1970s by Craigmont Mines Ltd., and further work by Kit Resources Ltd. in the early 2000s.
Highlight results include 25.0 metres of 2.54% copper, 50.4 g/t silver, including 38.7 metres of 1.82% copper, 37.7 g/t silver, also 7.7 metres of 1.80% copper and 37.7 g/t silver.
Kit Resources discovered additional zones of mineralization northeast of the Main Zone, including the West and Dave’s zones. The West Zone returned average grab values of 2.82% copper, and 71.44 g/t silver.
Star Copper said it entered into an agreement with Zimtu Capital Corp. [ZC-TSXV] on July 14, 2025, under the deal, Star has agreed to deliver the following:
Cash payments of $350,000, consisting of $100,000 on the date the acquisition is completed, and a payment of $250,000 due six months after the closing date.
The issuance of 500,000 common shares with 200,000 consideration shares to be issued on the closing date, and 300,000 consideration shares on the completion date, and
The grant by the company to the vendor of a 2.0% net smelter returns royalty, payable on all production from the Copperline Property, of which 1.0% will be eligible for repurchase by the company at any time within five years of the closing date for a one-time payment of $1.0 million.
In addition, if the company publishes a resource estimate prepared that meets NI 43-101 compliant standards of disclosure, disclosing any combination of measured, indicated or inferred mineral resources in excess of either 500 million pounds of copper, or 15,000 ounces of silver, then the company will pay the vendor an additional amount of $1.5 million, including $750,000 in cash and the balance in shares.