VANCOUVER, BC / ACCESSWIRE / March 31, 2021 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK) is pleased to announce locations for drill targets that will assist in future drilling campaigns on its 100% owned Copper Creek Cu-Mo-Ag project, in Pinal County, Arizona. In total, there are 20 distinct prospects at Copper Creek and the design of the early phases of future drilling campaigns aim to target 11 of these priority brownfield and greenfield prospects. Maps of all of the targets can be found in the corporate presentation that can be downloaded from the Company web site.
A conceptual phase 1 drilling program would consist of 12 drill holes and 6000m (19,700 feet) located on patented ground owned by CopperBank. The design of the phase 1 drill program would target priority near-surface mineralization in breccia pipes, vein swarms, disseminated porphyry hypogene mineralization, and secondary enrichment zones. All drill holes would be drilled at low angle dips at -45° to -60° with completion depths at no more than 1000 feet (325m) beneath the surface while maximizing structural zone intersections and improving data density on high priority prospects.
Gianni Kovacevic, CEO of CopperBank comments, "The visual presentation of how the CopperBank team is endeavoring to expand historical resources, and more importantly, the near surface potential of Copper Creek is extremely important. We continue to stress the fact that only 10% of the 400 known hydrothermal breccias have been drill tested. With higher copper prices, we will also explore various copper equivalent cut-offs and open-pit scenarios for any future resource estimations using the historical 2012 resource estimation as a good starting point."
Four additional drill holes are optional and located on patented ground, pending initial results. This will be followed by a Phase 2 drilling program, currently designed at 13 dill holes on mixed patented, unpatented, and Arizona State prospecting lease ground. Drill hole locations will be adjusted as historic geophysical results are reprocessed by Resource Potentials of Perth with results anticipated by May 2021.
CopperBank expects to publish an updated technical report and resource estimation in the future after multi-phase drill programs would be completed.
Qualified Person
Mark I. Pfau of Tellurian Exploration, Inc., is a Qualified Person under National Instrument 43-101 and has approved the technical portions of this press release. Mr. Pfau is an exploration and resource targeting specialist in the porphyry and related geologic environments.
About CopperBank
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".
On behalf of CopperBank Resources Corp.
"Gianni Kovacevic"
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: gk@copperbankcorp.com
Website: www.copperbankcorp.com
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.
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