Vancouver, British Columbia--(Newsfile Corp. - October 31, 2017) - Copper North Mining Corp. (TSXV: COL) ("Copper North" or the "Company") announces progress of drilling on the Carmacks oxide Cu-Au-Ag project, Yukon, Canada. Approximately 4,000 metres have been drilled to date, in 32 holes, as part of an ongoing step-out and definition drill program. The drilling has mainly focused on two mineralized zones: Zone 2000S and Zone 13, last drilled in 2015. Oxide copper mineralization, native copper, and sulphide copper mineralization have been observed in drill cores from Zone 13 and Zone 2000S; assays are pending. The objective of this drill program was to upgrade our Inferred oxide copper mineral resources into the Measured or Indicated resource category, and therefore the potential for a longer mine life. The drill results to date supports this potential mine life increase.
Oxide copper mineralization was noted in all nine in-fill holes drilled within Zone 13 to date. This confirms the continuity and extent of oxide copper mineralization present within the existing Mineral Resource. The supergene copper minerals azurite, malachite, and tenorite transition to chalcopyrite-bornite mineralization having depths up to 100 metres below surface. Native copper has been observed at the transition from copper oxide to copper sulphide mineralization.
Infill drilling has targeted the oxide zone in the southern half of Zone 2000S. The completion of seven drill holes has successfully confirmed the presence of visible malachite, azurite, and tenorite in the zone up to approximately 100 metres vertically from surface. The additional drilling has provided better constraints on the location of the oxide to sulphide interface, confirming the presence of copper oxide mineralization at depth.
President and CEO Dr. Harlan Meade commented: "the additional drilling in Zones 13 and 2000S has increased the drill hole density with the objective of upgrading part of the Inferred resources to the Measured and Indicated categories. Step-out drilling is underway to test the presence of oxide and upper part of sulphide mineralization in the gap between Zones 13 and 12. Initial observations of copper oxide mineralization from the first step-out holes suggest that we may expect an increase in Mineral Resources and the potential for an extended mine life.".
Holes CN17-04 to CN17-11, CN17-16, and CN17-17 were drilled away from known mineral zones considered as wildcat holes. No significant mineralization was intersected in these drill holes.
Engineering and Environmental Studies
As part of the fall exploration program, groundwater and geotechnical field studies were completed in the proposed dry-stacked tailings area by Golder Associates. The field study results will support continued engineering design for the tailings area and updating of the site water balance and water quality models in support of future environmental assessment and permitting. Doug Ramsey, VP Sustainability and Environmental Affairs, commented "Completion of these field studies puts us on track for entering the Yukon environmental assessment process in 2018 to maintain our planned 3-year development schedule".
The technical information in this news release has been prepared, reviewed and approved by Dr. Harlan Meade, P.Geo, the President and CEO of Copper North, a Qualified Person within the meaning of NI 43-101.
On behalf of the Board of Directors:
"Dr. Harlan Meade"
President, CEO and Director
About Copper North
Copper North is a Canadian mineral exploration and development company. Its assets include the Carmacks Project located in the Yukon, the Redstone Property located in the Northwest Territories, and the Thor Property in British Columbia. Copper North trades on the TSX Venture Exchange under the symbol COL.
This news release includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the timeliness and success of regulatory approvals, the timing and success of future exploration and development activities, exploration and development risks, market prices, exploitation and exploration results, availability of capital and financing, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, unanticipated environmental impacts on operations and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the proposed exploration and development of the mineral projects will proceed as planned, market fundamentals will result in sustained metals and mineral prices, and any additional financing needed will be available on reasonable terms. The Company expressly 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 otherwise required by applicable securities legislation.
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 release.