Large Chargeability Anomaly Defined at Carube Copper's Rogers Creek Copper Project, BC
Ottawa, Ontario--(Newsfile Corp. - November 30, 2015) - Carube Copper Corp. (TSXV: CUC) reports that a large chargeability anomaly has been delineated from the results of a recently completed Induced Polarization ("IP") survey on its 100% owned Rogers Creek Copper Project in southwestern British Columbia. The chargeability anomaly is immediately north of a previously defined mineralized area and also adjacent to two diamond drill holes which intersected elevated copper values in a structure adjacent to the anomaly.
Alar Soever, Chairman of Carube Copper commented: "We are extremely excited by the results of the 2015 IP survey. All of the previous work on the property had indicated that the surveyed area has high mineral potential and warranted the IP survey. It is gratifying to see the anomaly is located adjacent to holes MRC-006 and MRC-007. Both drill holes intersected porphyry style alteration and mineralization within the structural zone that borders the east edge of the chargeability anomaly. The location and character of this anomaly makes it a high priority drilling target for 2016."
The new chargeability anomaly defined on lines 109+00N and 111+00N by the 2015 IP survey measures up to 500 metres across and remains open to the north (Figure 1). These estimates are based on the peak chargeability values greater than 40 mV/V. The greater than 40 mV/V chargeability isoshell, which measures at least 200 metres across, is first encountered at a depth 250 metres under the north wall of the Rogers Creek Valley, about 300 metres above the valley floor. The anomaly reaches it largest confidently known extent as it approaches the same elevation as the valley floor and allows for an estimated minimum size of isoshell at 400m x 400m x 300m. A number of copper occurrences consisting of disseminated pyrite-chalcopyrite and quartz-pyrite-chalcopyrite veins and veinlets associated with zones of pervasive chlorite-sericite mineralization are present on surface immediately down slope of the anomaly.
Holes MRC-006 and MRC-007 tested some of the occurrences and intersected minor copper mineralization consisting of sparsely disseminated, porphyry style pyrite-chalcopyrite mineralization and alteration (propylitic and chlorite/sericite) consistent with intersections in the outer pyritic halo of a buried porphyry system. These two holes appear to have passed over the southwestern edge of the new chargeability anomaly, which remains untested by drilling at this time.
Results of the IP survey will be incorporated into a comprehensive 3D geology, alteration, and geophysics model of this area to inform drill targeting.
Figure 1. Location of chargeability anomaly and drill holes in plan view.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2661/18300_carube1enhanced.jpg
Carube Copper's Rogers Creek Property is located within the Cascade Magmatic Arc, a belt of Tertiary and younger intrusive and extrusive rocks, which stretches from Northern California up to the southern end of the Alaska Panhandle. Carube Copper's Mackenzie Property and Amarc Resources' recently discovered IKE Deposit (247m of 0.28% Cu, 0.03% Mo and 2.0 g Ag/t), which was optioned to Thompson Creek Metals ($15M exploration expenses for 30%) are located approximately 150 kilometres north of Rogers Creek and within the Cascade Magmatic Arc. The Cascade Magmatic Arc formed as a result of the subduction of various Pacific Ocean plates, transform faults and ridges beneath the North American continent over the past 65 million years. The majority of the Cu, Au and Mo resources being mined in the world, primarily in Chile, Peru, the United States and Indonesia, come from similarly-aged belts of porphyry intrusions. In the United States, the Cascade Magmatic Arc has produced mineral deposits of significant size, such as Quartz Hill (1.6 BT of 0.127% MoS2)1 in Alaska, and Glacier Peak (1.7 BT @ 0.334% Cu and 0.015% MoS2)2 and Margaret (523 MT @ 0.36% Cu, 0.013% - MoS2.)2 in Washington State (all historic resources referenced below).
1. Maas, K.M., Bittenbender, P.E., and Still, J.C., 1995, Mineral investigations in the Ketchikan mining district, southeastern Alaska: U.S. Bureau of Mines Open-File Report 11-95, 606 p.
2. R. Lasmanis, Regional geological and tectonic setting of porphyry deposits in Washington State: Porphyry Deposits of the Northwestern Cordillera of North America, CIM Special Volume 46, p77-102
Contacts
Jeff Ackert, President and CEO • 1-613-839-3258 • jackert@carubecopper.com
Dr. Vern Rampton, Executive Vice President of Corporate Development• 1-613-839-3258
• vrampton@carubecopper.com
Alar Soever, Chairman • 1-705-682-9297 • asoever@carubecopper.com
Darrell Munro, Corporate Administration • 1-613-839-0474 • dmunro@carubecopper.com
- END PRESS RELEASE -
This press release has been reviewed and approved by Alar Soever, P. Geo. in his capacity as a qualified person as defined under NI 43-101.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Carube Copper Corp. (TSXV: CUC) is a Canadian exploration company focused on the rapid exploration and development of precious metal and copper projects in Jamaica and Canada. Through a wholly owned Jamaican subsidiary, Carube owns a 40% beneficial interest (subject to a 2% NSR) in the Bellas Gate Project, which consists of two highly prospective copper-gold licenses covering 84 square kilometres of the Central Inlier. The Bellas Gate Project is the subject of a joint venture agreement with OZ Minerals Ltd., an Australian copper-gold producer with a market capitalization of over $1B. OZ Minerals can earn a 70% interest (Carube 30%) in the Bellas Gate Project by spending $6.5M on exploration and can then increase its interest a further 10% by completing a feasibility study. OZ Minerals has flown airborne geophysics over 3 other Carube projects (4 wholly-owned Licences, subject to 2% NSRs, and subsequently can invoke separate joint ventures on each project under similar terms to those applicable to the BGP. Carube also holds a 100% interest in three porphyry copper-gold-molybdenum properties in south-western British Columbia within the Tertiary-aged Cascade Magmatic Arc. Exploration continues on two of these projects, with the goal of joint venturing them to larger exploration and mining companies.
DISCLAIMER AND FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Inc. provides no assurance that actual results will meet management's expectations. Actual events, results, performance, prospects and opportunities may differ materially from those expressed herein. Factors that can cause results to differ materially are set out in the company's documents filed on the SEDAR website. Even though Carube Copper believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on it, as it may only apply to a disclosed time frame or not at all. Carube Copper disclaims any obligation to update or revise information in the future other than required by law.
