Vancouver, British Columbia — February 21, 2023 — CopAur Minerals Inc. (the “Company”) (CPAU:TSXV) is pleased to announce the results from the Q4 2022 drilling at the Bolo Project, located in Nye County, Nevada. Two core holes totaling 409 metres were drilled at the South Mine Fault Zone to infill and expand areas of known mineralization. Significantly, these are the first diamond drill core holes to test the core of the high-grade gold mineralization at the South Mine Fault Zone and they provide important new information with respect understand the lithology, alteration, and mineralization style. In addition, ten reverse circulation (RC) holes totaling 1,947 metres were completed to test exploration geochemical targets along the East Fault trend.
Both core holes targeting the South Mine Fault Zone intersected significant gold (Table, Figures 1 and 2). Hole BL22-04 returned a broad intercept of 1.5 g/t gold over 79 metres, including 3.0 g/t gold over 17 metres1. Hole BL22-05 returned 1.1 g/t gold over 94 metres, including 2.5 g/t gold over 15 metres1.
Drill hole BL22-05 was lost at depth of 180 metres, but significantly ended in mineralization grading 0.79 g/t Au over 4.57 m which is interpreted to represent the up-plunge continuation a lower gold zone discovered by the Company during 2019 that yielded a grade of 3.32 g/t Au over 12.1 metres with hole BL19-02 (see New Placer Dome Gold Corp. news release dated October 23, 2019). Mineralization interested during 2019 and again within BL22-05 highlights the west side and depth expansion potential of the South Mine Fault Zone along parallel structures and within known gold-hosting lithologies.
The Company’s CEO, Jeremy Yaseniuk states, “We are very pleased with these significant near-surface gold grades, in addition to the presence of a relatively untested lower gold zone that we expect will be part of the focus of future drilling as we look to expand the footprint of the South Mine Fault Zone, and continue to systematically evaluate the multiple untested priority exploration targets that remain within the Bolo Project. CopAur has now acquired a 50.01% ownership interest in the Bolo project.”
Gold mineralization is associated with zones of significant calcite veining, stockwork or brecciation, as well as persistent goethite ± hematite alteration, decalcification and/or silicification (Photo 1). The Bolo core drilling provides a considerably better visual representation of the structure, textures and alterations associated with mineralization versus RC. Structural data and observations collected from the 2022 drill core provide significant insight into the nature and geometry of mineralization at the South Mine Fault and will be instrumental moving forward towards a potential maiden resource.
While no significant results were returned from a series of 10 RC exploration holes testing surface geochemical targets along the East Fault trend, multiple drill holes intersected arsenic pathfinders and anomalous gold values coincident with surface geochemical anomalies, faults and jasperoid rocks, which validates the Company’s systematic, and data driven exploration approach. Multiple untested priority exploration targets remain within the Bolo Project located along the Mine Fault and East Fault trends. Some of these targets, most notably within the Northeast Extension of the SMFZ, have yielded significant gold values within historical RC drill holes including 21.4 metres averaging 1.44 g/t Au (HD-3), 18.2 metres averaging 1.09 g/t Au (BL-4), and 10.7 metres averaging 0.76 g/t Au (BL-3)1.
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Global (“ALS”), Vancouver Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of CopAur Minerals Inc. and the QP. RC drill samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. Gold determination was via standard atomic absorption spectroscopy (“AAS”) finish 30-gram fire-assay (“FA”) analysis, in addition to 48 element ICP-MS geochemistry. For any samples assaying over 0.1 ppm gold an additional 30-gram cyanide leach analysis is completed whereby the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS.
CopAur Minerals Inc. follows industry standard procedures for the work carried out on the Bolo Gold-Silver Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. New Placer Dome detected no significant QA/QC issues during review of the data. CopAur Minerals Inc. is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.
About CopAur Minerals Inc.
CPAU is an exploration company focused on developing projects within the emerging, mineral-rich mining regions of Nevada and British Columbia. The Company is backed by a dynamic and experienced team of resource professionals advancing multiple holdings across both regions; the flagship being Kinsley Mountain Gold Property, a Carlin-style project located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture, Nevada Gold Mines) and its 100% owned Williams Project that points to significant gold-copper potential within the prolific Golden Horseshoe of northern British Columbia, Canada. (For a full overview of projects please download CopAur Presentation).
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), principal and consultant of APEX Geoscience Ltd. of Edmonton, AB, a qualified person as defined in National Instrument 43-101 — Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed, which include a review of the sampling, analytical and test data underlying the information and opinions contained herein.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
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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.
This news release contains forward-looking statements. These statements relate to future events or Company’s future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revised any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations