Copaur Minerals exercises option for Bolo
2023-01-11 09:54 ET - News Release
Mr. Jeremy Yaseniuk reports
COPAUR MINERALS INC. EXERCISES ITS OPTION TO OWN 50.01% INTEREST IN THE CARLIN-TYPE BOLO GOLD AND SILVER PROJECT IN NEVADA
Copaur Minerals Inc. has provided notice to Allegiant Gold Corp Ltd. and other optionors under the option agreement dated June 27, 2018, as amended, to confirm that it has incurred and completed the final $1.5-million (U.S.) in exploration expenditures to satisfy the remaining option requirements to earn a 50.01-per-cent interest in the Bolo project in Nevada. The Company has also provided notice to Allegiant electing to earn an additional 24.99% interest in the Bolo Project Agreement (the "Additional Interest") under the terms of the Option Agreement by incurring an additional US$4 million in exploration expenditures within two years of the date of notice to earn the Additional Interest. Results from the previous 4,000 metres of reverse circulation drilling for Q4 of 2022, including expansion drilling at the South Mine Fault zone (1,000 metres) and exploration drilling of new targets are expected to be released in Q1, 2023. No further shares payments are too be made to Allegiant to earn 75%.
The Company's CEO, Jeremy Yaseniuk states, "Following this successful earn-in within the last year, CopAur has now acquired a 50.01% ownership interest in the Bolo project, a 79.99% ownership interest in the Kingsley Gold project and a 100% interest in the Troy Canyon property, all in Nevada. CopAur also has a 100% ownership interest in the Williams gold-copper project in British Columbia and is ideally positioned for further growth and development. This year we will continue focusing on a measured and systematic approach to exploration targets on these projects. The Company's initial plan in early 2023 is to focus on the Kingsley gold project and expects to commence further drilling in late January. Kinsley hosts a Carlin-type gold project with current indicated resources of 418 koz at 2.63 g/t gold and inferred resources of 117 koz at 1.51 g/t gold which will be updated later in the year."Hot Creek Range, Nye County, NevadaTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7895/151004_hcrimage.jpg.Figure 1: Bolo Drill TargetsTo view an enhanced version of Figure 1, please visit:https://images.newsfilecorp.com/files/7895/151004_28d90855e4b2aa40_004full.jpg.
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 CopAurPresentation).
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, PGeo (B.C.), principal and consultant of Apex Geoscience Ltd. of Edmonton, Alta., a director of New Placer Dome and 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.