Allied Copper Completes 3D Induced Polarization (IP) Survey, SK Property, NV USA Large Anomaly Discovered
VANCOUVER, April 07, 2022 - Allied Copper Corp. (TSX-V: CPR, OTCQB: CPRRF) (the "Company" or "Allied Copper"), is pleased to announce that the Company has completed the 3D ground Induced Polarization ("3D-IP") and Resistivity survey on the SK Property, located in Eastern Nevada, USA. A large chargeability anomaly has been discovered in the SK area in the northern part of the property. The anomaly measures at its longest approx. 1.1 kilometres, at its widest approx. 850 metres and from surface down to a maximum survey depth penetration of approx. 500 metres. Dias Geophysical undertook the survey on behalf of the Company.
Warner Uhl, Chairman of Allied Copper, commented
"With the confirmation of a large chargeability anomaly in the SK area of the property, we are delighted about the incremental de-risking for a potential for discovery during our 2022 drilling program. Now that we have three properties in exploration, we are examining the most effective and economical approach to the drilling campaign. All three properties have a high potential for discovery and we are in a unique position of not having all of our eggs in one basket. We have an experienced exploration team and will quickly mobilize additional funding and resources to take advantage of any positive drill results at any one of our three locations.
We look forward to updating our shareholders with progress as we move through exploration milestones over the coming months, a period that promises to be transformative for our company."
Geophysical Program
The groundwork included a rolling 3D IP-Resistivity survey using the DIAS32 system in the northern SK target area, and a distributed 2D survey array in the South Target area. The 3D coverage involved 400m X 200m electrode grid spacing, while the 2D array had 100m electrode spacing along three lines. Eight lines with an aggregate length of 15 kms were covered at SK and another three lines with a total length of 6 kms were completed in the South Target area.
The 3D work at SK has assisted in developing a robust 3D inversion model with a near surface resolution of 50m X 50m. The survey coverage area is about 6.8 sq. km and was designed to capture an image down to a depth of 500m - 600m. The 2D layout in the South served as an initial geophysical probing, the results of which will assist the Company in determining what further work may be needed.
The survey aimed to define geophysical signatures consistent with a potential porphyry system and/or associated polymetallic skarn and carbonate replacement mineralization. Historical drillholes, SK-1 and SK-2, completed by Anaconda in 1981 were drilled along the margins anomaly but appeared to fall short of intersecting the main chargeability high. Both holes intersected highly anomalous copper, silver and base metals from between 44.5 m to 575 m below surface (refer to www.alliedcoppercorp.com for more information).
Dias Geophysical
Dias Geophysical is a technology company that develops advanced geophysical technologies and deploys them for clients worldwide. The DIAS32 3D induced polarization and resistivity system is the leading technology in this field. It delivers high volume, multi-azimuth data sets that support accurate 3D models. The strength of the DIAS32 system is in its ability to provide both high resolution and excellent depth search.
Allied Copper
Allied Copper Corp. ("Allied Copper") (TSX-V: CPR) (OTCQB: CPRRF), headquartered in Vancouver, BC Canada, is a mineral exploration company focused on acquiring and developing potential long life, scalable copper and/or gold assets in the Western U.S. The Company's strategy is to focus on low cost and potential high growth operations in low-risk jurisdictions. Allied Copper's management is committed to operating efficiently and with transparency in all areas of the business. Investors and/or readers may sign up for updates on the Company's website: www.alliedcoppercorp.com
Qualified Person
Rene Victorino (P. Geo.) is the "Qualified Person" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects who has reviewed and approved the technical information that is contained within this news release.
On behalf of the Board of Directors of Allied Copper Corp.,
Mr. Warner Uhl
Executive Chairman
Contact Information
Kyle Hookey
CEO and Director
Cell: +61 431 920 389
E-mail: khookey@alliedcoppercorp.com
Forward Looking Statements- Safe Harbour
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Allied Copper Corp., future growth potential for Allied Copper and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of copper and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Allied Copper' ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may Constitute forward looking information and include, without limitation, statements about; anticipated timing and content of upcoming work programs, geological interpretations, receipt of property titles, and potential copper recovery processes; anticipated dates for receipt of permits, approvals and other milestones; anticipated Results of drilling programs, feasibility studies and other analyses; anticipated availability and terms of future financing; future production, operating and capital costs; and operating or financial performance. Information concerning potential contingent copper resource estimates also may be deemed to be forward-looking information in that it reflects a prediction of the copper bearing zones that would be encountered if a copper structure were developed and produced. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of copper deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
