CopAur to Initiate Work at Troy Canyon Gold and Silver Project That Has Never Been Drilled
Vancouver, June 27, 2024 - CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF) ("CopAur" or the "Company") is pleased to announce plans to initiate baseline surveys prior to submission of a US Bureau of Land Management (BLM) Plan of Operations permit application to support future exploration drilling and access construction at its at its 100% owned Troy Canyon Gold-Silver Property (the "Troy Canyon Project" or the "Project") located in Nye County.
CEO Jeremy Yaseniuk stated, "After a site visit in 2023, Conrad and I were left wondering why mining was stopped in 1950 when such high grades were sampled from the dump and chipped off adit walls? It's unclear how much more mineralization remains underground in this quartz vein system that is exposed on the surface for 300 metres. Given the exceptionally high-grade material sampled from the historic mines and waste dumps, we have to wonder what else was overlooked?"
Baseline surveys are expected to commence with an initial field visit by CopAur's permitting consultant Thorne Solutions LLC. Subsequent baseline surveys are expected to compromise, wildlife, vegetation and cultural resource surveys preparatory to submission of a BLM POO permit application.
The permit will allow for exploration drilling to advance significant historic underground and current surface gold-silver anomalies identified at Troy Canyon, which has never been drilled to date. This will be the first time that modern exploration techniques have ever systematically been employed to this property.
Highlights of CopAur rock sampling at Troy Canyon include1:
- 42.7 grams-per-tonne (g/t) gold (Au) and 15 g/t Au, and 91 g/t silver (Ag) in outcrop of partially oxidized silica-sulphide breccia at the historic Locke West and East Mine prospects.
- 37.7 g/t Au in oxidized quartz vein material sampled from historic waste dumps at the Locke East Mine (Figures 1 and 2).
- 7.68 g/t Au including 526 g/t Ag, in addition to 97.20 g/t Ag and 105 g/t Ag from mine dump material coincident with a 1.2 km north-south trending greater than 10 ppb Au in soil anomaly along the western Troy Canyon Claims along the historic Leadhill and Galena vein trends.
1 See CopAur Minerals Inc. news release dated October 22, 2020.
The 2007 Troy Soil geochemical survey comprised 791 soil samples were collected along 120 metre (m) spaced north-south oriented gridlines at 60 m intervals. Of the 791 soils, a total of 41 samples returned greater than 20 parts-per-billion gold (ppb Au), greater than the 95th percentile, and up to 2.02 grams-per-tonne (g/t) Au in soil; in addition to greater than 0.25 g/t silver (Ag) and up to 36.6 g/t Ag in soil. The results define a prominent greater than 50 ppb Au in soil anomaly extending 650 m southwest from the historical Locke Gold Mine portal. A 1.2 km north-south trending greater than 10 ppb Au in soil anomaly occurs that is coincident with the location of numerous historical adits and exploration pits (Leadhill and Galena vein trends).
Troy Canyon Summary
The Troy Canyon silver gold project is located in the Grant Range of eastern Nye County, Nevada, approximately 150 km east of Tonopah. The project consists of 59 contiguous unpatented mineral claims that cover 493 hectares of land centered approximately on the historical Locke gold mine. High-grade gold mineralization occurs within massive quartz veins, vein breccias and narrower sheeted vein and stockwork zones. The quartz system is exposed for 300 meters along the sheared, northerly trending contact between hanging wall recrystallized limestone of Cambrian age and footwall quartz monzonite of the Tertiary (23 Ma) Troy pluton.
The Troy Gold-Silver Project has seen limited modern exploration effort and was a former small-scale producer. Gold mineralization was first identified at the project in 1867 and small-scale mining commenced in 1869. The most recent mining took place from 1948 to 1950 where 643 ounces of gold and 660 ounces of silver were reportedly produced from 1,859 tons of mineralized rock, at an average grade of 11.83 g/t gold (0.345 oz/t Au) and 12 g/t silver (0.355 oz/t Ag).
The area of the old Locke Mine in Troy Canyon hosts mesothermal gold and silver mineralization with potential for economically significant concentrations. Mesothermal systems typically are persistent to great depths. To date the system seen on the Troy Canyon Project has only been investigated over a vertical extent of approximately 180 metres, with the bulk of the work having been concentrated on the hanging wall of the quartz host.
Recent assessments (late 1980s to early 2000s) of the project by multiple companies include sampling of surface and underground quartz exposures, mine dumps, mineral processing facilities, and tailings piles. In 2004, Miranda Gold Corp determined that stopes were developed on multiple 'stacked' north-trending, moderately east-dipping veins. Three of 13 underground stope rock grab samples collected by Miranda reportedly returned 47.8 g/t gold, 48.4 g/t gold, and a high of 576 g/t gold* (16.8 oz/ton Au). The remaining ten rock samples collected from underground stope and adit wall outcrops returned values ranging from <1 g/t gold to 8.8 g/t gold, and from 0 g/t silver to 27 g/t silver.
In 2007, Portage Minerals Inc. completed a multi-parameter exploration program on the project that included a property-wide soil geochemical survey, focused IP/Resistivity and CSAMT surveys, and rock chip sampling and surveying of the main Locke mine underground workings. The soil geochemical program identified several zones of anomalous gold outbound of the mine and a strong northwest trending IP anomaly in the southeast part of the survey area.
Gold mineralization is associated with grey, late-stage vuggy, sugary limonitic quartz and minor sphalerite, galena and arsenopyrite, and a strong gold-bismuth correlation suggests that mineralization is part of an intrusive-related mesothermal gold vein system. Compiled data for the Troy Canyon Project reference only one exploration drill-hole which apparently was terminated in mineralized limestone before reaching the vein.
Figure 1. Troy Canyon Rock Geochemistry Highlights
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CEO Jeremy Yaseniuk stated, "We look forward to reinvigorating exploration efforts at Troy Canyon to capitalize on a project which hosts significant historic underground development that targeted high grade gold bearing veins and breccia bodies, bolstered by multiple modern gold and silver anomalies in rock and soil that have never been drilled."
Figure 2. Historic Locke Gold Mine at Tory Canyon
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About Thorne Solutions LLC
Formed in 2022, Thorne Solutions LLC advises companies on permitting strategy and management of their environmental permitting processes, as well as contributing to strategy on community relations, government relations, and bolstering companies' corporate responsibility programs. Thorne Solutions LLC's primary focus is directing permitting, community relations, and government relations for the Yerington Copper Project in Yerington, Nevada.
About CopAur
Copaur Minerals is associated with The Metals Group of companies including Altiplano Metals. APN.v, Benchmark Metals (BNCH.V), Thesis Gold (TAU.V), Founders Metals (FDR.V) and Emperor Metals (AUOZ.V). Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment opportunities and deliver shareholder returns.
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 of APEX Geoscience Ltd. of Edmonton, AB, a "Qualified Persons" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Raffle has 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
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 contains forward-looking statements. These statements relate to future events or the Company's future performance including obtaining the necessary regulatory approvals for and completion of an option agreement on the Williams property with Omega Pacific Resources Inc. 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 including if Omega Pacific will be able to raise sufficient funding to exercise the options on the Williams Property or if it will exercise any of the options granted under the option agreement. 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.
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