Vancouver, British Columbia--(Newsfile Corp. - September 12, 2022) - CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF) ("CopAur" or the "Company") is pleased to provide current & new shareholders a brief overview of prior high-grade gold drill intercepts at the Company's flagship Kinsley Mountain Gold Project (the "Kinsley Mountain Project" or "Kinsley Mountain") in Elko County, Nevada.
The Kinsley Mountain Project was an historical past producer that yielded 138,000 ounces of near surface open pit oxide gold between 1995-1999. Kinsley contains current mineral resources comprising the high-grade Western Flank Zone and near surface oxide of 418,000 indicated ounces gold at 2.63 grams-per-tonne (g/t) gold, and 117,000 inferred ounces gold at 1.51 g/t gold[1]. Indicated resources are inclusive of 302,000 ounces averaging 6.11 g/t gold hosted within the Secret Canyon Shale at the Western Flank Zone.
In 2013, gold mineralization was recognized on the west side of the Kinsley project in limestone and shale beds within the Hamburg Formation and Secret Canyon Shale, units that had not previously been recognized as potential hosts of gold mineralization (Figure 1). Subsequent drilling in 2014 returned numerous high-grade gold intercepts including PK137C that returned 21.3 g/t gold over 29 metres1 within the Secret Canyon Shale at the Western Flank (Table 1).
Figure 1. Kinsley Mountain Gold Project Cross Section Through Mine Trend
(Looking northeast)
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The drill results that so recently led to this exceptional high-grade gold discovery show that gold is widespread in two different stratigraphic units. This emphasizes the significant property-wide discovery potential at Kinsley Mountain with over 12 km of prospective geology, alteration, and geochemical targets to explore, of which 80% remains untested by drilling.
CEO Jeremy Yaseniuk stated, "Initially released between 2013 and 2014, these drill results are relevant to CopAur's current exploration plans. Kinsley hosts numerous untested targets like the Western Flank Zone that we believe point to the potential of a much larger gold endowment with 80% of the property remaining untested by drilling. We felt the need to re-publish these results to help shareholders understand the tremendous potential of this project given that many may not realize the remarkable nature of recent drilling before this asset was in CopAur. In addition to this drilling, we have identified 8 new exciting targets on the property that have previously not been drilled that we hope will yield additional discoveries (see CopAur news release dated August 3, 2022)."
Table 1 Selected Historical Western Flank Zone Secret Canyon Shale Diamond Drill Intercepts1
Hole ID (Az, Dip) (degrees) | From (m) | To (m) | Intercept[2] (m) | Au (g/t) | Au Cut-Off | Hole Depth (m) |
| PK091CA (90, -70) | 255.1 | 291.7 | 36.6 | 8.5 | 0.2 | 291.7 |
| including | 276.5 | 284.0 | 7.6 | 29.4 | 5.0 | |
| PK127C (090, -66) | 276.5 | 318.1 | 41.7 | 6.9 | 0.2 | 389.2 |
| incl | 282.5 | 287.1 | 4.6 | 8.5 | 5.0 | |
| incl | 301.0 | 309.5 | 8.5 | 16.3 | 5.0 | |
| incl | 314.6 | 318.1 | 3.6 | 20.5 | 5.0 | |
| PK131C (110, -72) | 262.7 | 305.4 | 42.7 | 10.5 | 0.2 | 398.4 |
| incl | 276.5 | 299.3 | 22.9 | 18.3 | 5.0 | |
| PK132C (-90) | 249.6 | 303.0 | 53.3 | 7.5 | 0.2 | 456.9 |
| incl | 257.3 | 259.5 | 2.3 | 18.1 | 5.0 | |
| incl | 269.4 | 292.3 | 22.9 | 14.9 | 5.0 | |
| PK133C (270, -77) | 310.0 | 340.0 | 30.0 | 10.6 | 0.2 | 413.6 |
| incl | 322.2 | 338.6 | 16.5 | 16.1 | 5.0 | |
| PK137C[3] (120 -80) | 253.9 | 282.9 | 29.0 | 21.3 | 0.2 | 282.8 |
| incl | 259.7 | 264.6 | 4.9 | 46.4 | 5.0 | |
| incl | 270.5 | 281.9 | 11.4 | 32.7 | 5.0 | |
| PK137CA3 (120, -80) | 253.3 | 292.0 | 38.7 | 15.6 | 0.2 | 346.9 |
| incl | 259.4 | 281.3 | 21.9 | 26.2 | 5.0 | |
| PK175CA (255, -78) | 287.1 | 332.8 | 45.7 | 6.2 | 0.2 | 398.4 |
| including | 299.9 | 319.1 | 19.2 | 13.8 | 5.0 | |
| PK186C (030, -79) | 273.4 | 313.0 | 39.6 | 10.1 | 0.2 | 422.8 |
| incl | 283.8 | 305.4 | 21.6 | 17.4 | 5.0 | |
| PK187C (145, -81) | 262.7 | 293.2 | 30.5 | 6.0 | 0.2 | 364.8 |
| incl | 274.3 | 282.5 | 8.2 | 8.1 | 5.0 |
Methodology and QA/QC
The 2013 and 2014 drill composites were calculated using a cut-off of 0.20 or 5.0 g/t. Drill samples were assayed by ALS Chemex (ALS) in Reno, Nevada for 30-gram gold Fire Assay with an AA finish, or gravimetric finish for sample returning over 5.0 g/t. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the CopAur and the QP.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC), Principal and Consultant, and Christopher W. Livingstone, P.Geo. (BC), Senior Geologist, both of APEX Geoscience Ltd. of Edmonton, AB, and "Qualified Persons" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Raffle and Mr. Livingstone have verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
For more information, please contact:
CopAur Minerals Inc.
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Email: jeremyy@copaur.com
Max Sali, Director
Tel: +1 (604) 367-8117
Email: msali@copaur.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This news release includes certain statements that constitute "forward-looking information or statements" within the meaning of applicable securities law, including without limitation, conducting exploration work on its projects, receipt of assays, other statements relating to the technical, financial and business prospects of the Company and its properties, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as "social licence"); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company's prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, government regulations and policies, litigation, exchange rate fluctuations, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, decrease in the price of gold and other metals, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
[1] Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021, with an effective date of May 5, 2021, and prepared by Michael M. Gustin and Gary L. Simmons, and filed under New Placer Dome Gold Corp.'s issuer profile on SEDAR (www.sedar.com).
[2] True widths of the mineralized intervals are interpreted to be between 60-90% of the reported lengths
[3] PK137C was lost in the mineralized zone due to poor ground conditions higher in the hole. PK137CA was wedged off the same hole above the mineralized zone and was completed through the mineralized zone adjacent to PK137C.
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