CARUBE COPPER EXPANDS PORPHYRY MINERALIZATION AT BELLAS GATE
Carube Copper Corp. has released the results from PVT-17-004, the initial hole drilled in a 2,000-metre program within the 100-per-cent-owned Bellas Gate project in Jamaica.
Results from PVT-17-004 include: continuous copper mineralization over 340.1 metres from 45.3 to 385.4 m, hole ending in mineralization; and a 55.3 m interval yielding 0.51 per cent copper equivalent (CuEq) including a higher-grade section containing 14 m of 1.04 per cent CuEq.
Drill From To Length Au Cu CuEq hole (m) (m) (m) (ppm) (%) (%) PVT-17-004 45.30 385.40 340.10 0.09 0.20 0.25 including 45.30 204.00 158.70 0.05 0.16 0.19 including 204.00 240.13 36.13 0.12 0.23 0.30 including 251.45 306.75 55.30 0.27 0.35 0.51 and including 253.00 267.00 14.00 0.71 0.62 1.04 including 306.75 385.40 78.65 0.05 0.17 0.19
Jeff Ackert, president and chief executive officer of Carube Copper, commented: "The wide intersection of continuous mineralization and alteration in this drill hole, along with the evidence from surface exploration, confirms that the Provost prospect represents a genuine copper-gold porphyry. The higher-grade zone in PVT-17-004 seems to be similar to the zone intersected in hole PVT-16-002 and could represent peripheral veining and overprinting in the upper portions of the copper porphyry system."
PVT-17-004 builds on similar mineralization that was intersected in hole PVT-16-002 which returned: continuous copper mineralization over 339.15 m from 29.0 to 368.2 m, hole ends in mineralization; and a 10 m interval yielding 1.79 per cent CuEq.
Drill From To Length Au Cu CuEq hole (m) (m) (m) (ppm) (%) (%) PVT-16-002 29.00 368.15 339.15 0.12 0.28 0.34 including 80.00 93.00 13.00 0.16 0.41 0.50 including 138.00 148.00 10.00 0.90 1.28 1.79 including 189.00 204.00 15.00 0.24 0.38 0.52
Sample preparation, analysis and quality control
For a description of these items as pertaining to drill core and soil samples please see disclosure on Carube Copper's website. Carube Copper and Activation Laboratories all have robust sample security and quality control programs in place for samples collected in Jamaica.
A second hole has been completed at Provost, which also intersected copper mineralization; assay results are pending. Further drilling is anticipated once the results from the second hole have been received. Drilling is presently continuing at the Provost Southeast prospect, one of the five high-priority targets scheduled for drilling in 2017.
Further details: geology, alteration and mineralization in hole PVT-17-004
PVT-17-004 was drilled to expand a zone of newly discovered mineralization that was drilled in 2016. It targeted a zone beneath a significant copper-gold soil anomaly that is also coincident with a favourable porphyry signature combining geology, alteration, soil geochemistry and geophysics.
The hole encountered mostly volcanic andesite along with several narrow monzonite to hornblende porphyritic dikes throughout, ranging in age from premineral to postmineral. Chlorite-sericite alteration was encountered briefly at the beginning of the hole but graded into potassic alteration comprising k-feldspar, magnetite and biotite, which continued until the end of hole.
Veining and mineralization encountered in PVT-17-004 included quartz, quartz-carbonate, quartz-pyrite, quartz-magnetite, quartz-magnetite-chalcopyrite-plus/minus-bornite, chalcopyrite-pyrite-plus/minus-bornite sulphide veins, as well as disseminated, fracture filling and hairline copper sulphides. Veining intensity was variable throughout ranging from weak to intense. Copper mineralization as copper sulphides ranged anywhere from 0.1 per cent up to 5.0 per cent, being mostly coincident with veining intensity. Chalcopyrite-plus/minus-bornite was encountered at the bottom of the hole leaving potential for expansion horizontally and vertically within the 28-hectare Provost prospect.
Qualified person statement
This press release has been reviewed and approved by Shannon Baird, PGeo, Carube Copper's exploration manager in his capacity as a qualified person as defined under National Instrument 43-101
Additional corporate information
The company's outstanding share capital now stands at 107,752,208 common shares, following the June 22 issuance of 379,000 common shares resulting from the maturity of 379,000 restricted share units granted in 2016, together with the recently announced debt settlement issuances of 3,108,696 common shares.
Wholly owned projects
Carube is focused on the exploration and development of copper and gold projects in Jamaica and Canada. In Jamaica, Carube Copper holds a 100-per-cent interest in 11 licences, totalling 535 square kilometres. In Canada, it holds a 100-per-cent interest in three porphyry copper-gold-molybdenum properties, totalling 492 square kilometres within the Tertiary-aged Cascade magmatic arc in southwestern British Columbia. Carube is currently drilling on its Bellas Gate project in Jamaica where it intersected over 300 metres of copper and gold mineralization in the summer of 2016.