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ORIGINAL: CopAur Defines New Exploration Targets at Bolo
2022-10-24 09:01 ET - News Release
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2022) - CopAur Minerals Inc. (TSXV: CPAU) (OTCQB: COPAF) ("CopAur" or the "Company") is pleased to report grid rock geochemical sample results for the Bolo Gold-Silver Project ("Bolo" or the "Project"), which have generated numerous new exploration targets for potential Q4 2022 drilling. The Bolo Project is located in the Hot Creek Range of Nye County, Nevada, 65 kilometres east-southeast of the Round Mountain Gold Mine1.
The 2022 surface work comprised prospecting and grid rock chip geochemical sampling targeting the gold bearing Mine Fault and East Fault structures; including areas within the prospective Windfall Formation unit, which is also an important gold host at Bolo (Figure 1; see CopAur news release dated July 18th, 2022).
A total of 626 rock samples were collected over a 1,000 m x 300 m area designed to infill and extend historical rock chip coverage along prospective fault trends. A total of four (4) rock grid samples returned gold values greater than 1 gram-per-tonne (g/t) gold (Au) and up to 6.44 g/t Au, along the East Fault. Six (6) samples returned silver (Ag) values greater than 10 g/t Ag and up to 177 g/t Ag, along the Main Fault.
The expanded dataset highlights multiple new Carlin gold geochemical pathfinder (arsenic plus or minus antimony plus or minus barium plus or minus silver plus or minus gold) anomalies at Bolo along the Main Fault, East Fault, and associated splay structures. Integration of these new geochemical data with Induced Polarization (IP) / resistivity geophysical surveys and satellite alteration mapping, has resulted in the definition of several new high-priority exploration target areas. Six of these targets are highlighted for potential drill testing later this year, each located in a favorable geological or structural setting along the East Fault, and featuring coincident geochemical, geophysical, and/or hematite/iron oxide alteration anomalies.
RC and diamond core drilling by the Company at the South Mine Fault Zone, that yielded drill intercepts including 1.2 g/t Au over 122 m2, has demonstrated continuity of mineralization over 350 m. With the addition of new rock grid sampling CopAur has expanded the potential mineralized strike extent to great than 2 kilometres along two parallel fault structures.
Jeremy Yaseniuk, CEO, commented, "We are excited to start testing new exploration targets outside of the drill confirmed South Mine Fault Zone. The Company's work at Bolo integrating surface geochemical, geophysical, and remote satellite alteration mapping has defined numerous robust new greenfield drill targets. We believe this measured and systematic approach to exploration targeting gives us excellent potential to expand the already significant footprint of drill-confirmed gold mineralization at Bolo."
Up to 4,000 metres of RC and core drilling is planned for Q4 2022, including expansion drilling at the South Mine Fault Zone (1,000 m), as well as exploration drilling of new targets (3,000 m). This drilling will allow CopAur to complete the work expenditures required during 2022 to earn an initial 50.01% ownership interest in the Bolo Project, and to have the opportunity to elect to increase its ownership to 75% by completing the additional $4,000,000 of expenditures over the next 2 years.
Figure 1: Bolo Gold-Silver Project 2022 Rock Sampling
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7895/141616_92dbe70c24c789e7_001full.jpg
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Global ("ALS"), Vancouver Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of Copaur Minerals Inc. and the QP. Rock samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. Gold determination was via standard atomic absorption spectroscopy ("AAS") finish 30-gram fire-assay ("FA") analysis, in addition to 48 element ICP-MS geochemistry.
CopAur Minerals Inc. follows industry standard procedures for the work carried out on the Bolo Gold-Silver Project, with a quality assurance/quality control (QA/QC) program. Duplicate rock samples were inserted into the sample sequence sent to the laboratory for analysis. CopAur Minerals Inc. detected no significant QA/QC issues during review of the data. CopAur Minerals Inc. is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.
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 Person" 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