Vancouver, British Columbia--(Newsfile Corp. - February 8, 2023) - General Copper Gold Corp. (CSE: GGLD) (FSE: 7S50) (OTCQB: GNRGF) (the "Company") is pleased to announce the results of its initial three diamond drill holes on the Topley Richfield property (the "Property"), which confirms the interpretation of its Induced Polarization ("IP") survey. With significant intersections of high grade copper, the IP had identified three targets, none of which have been explored previously. Target 1 indicates that it lies on strike to the Topley shaft mineralization. Target 2 is a conductive feature west of the shaft that is unexplained and may relate to a large circular body. Target 3 is a linear anomaly southwest of shaft.
All three holes of this initial program successfully intersected the identified structure of Target 1, which remains open in all directions, along strike and down dip. The structure appears to be an altered shear zone, with significant quartz along with pyrite and pyrrhotite veins and chalcopyrite.
Further results, as demonstrated in the diagram below, are as follows:
TM-22-03
From 151.05 to-228m, 76.95m of 0.5% Cu. |
TM-22-02
From 130.5 to-229.5m, 99m of 0.3% Cu. |
|
|
TM-22-01
From 131.5-208m, 76.50m of 0.38 % Cu.
Including:
From 136-149.5m, 13.5m of 0.49% Cu.
From 179.5-205m, 25.50m of 0.55% Cu. |
|
Figure 1: Visualization of initial 3 holes showing rock type and copper grade
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The below diagram shows the interpreted results of the IP and highlights the 3 Targets identified, this Press Release relates to Target 1.
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Figure 2: Interpreted results of IP Survey showing the three key targets identified
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The work was completed on the Company's Topley Richfield property, located approximately 100 km southeast of Smithers, British Columbia, in the heart of the Omineca Mining Division. The Property's location near the Township of Topley allows for year-round access for heavy equipment via the Granisle Highway off the Yellowhead Highway.
There has been significant historical, intermittent exploration of the Property, going back to 1927 with evaluation done from 1979 to 1987. One historical 410 kg sample from 1941 yielded recovered grades of 22.29 g/t Au, 913 g/t Ag, 4.6% Cu, 3.2% Pb and 5.5% Zn when analyzed at the Provincial Government plant in Prince Rupert. Various geochemical and geophysical surveys and limited drilling programs were completed between 1967 and 1975. A Vancouver-based junior company acquired the Property in 1979 and worked on it until 1988. Results of detailed underground sampling (B.C. Ministry of Energy and Mines Property File) indicate a number of areas with significant gold-silver values.
Michelle Gahagan, President, stated: "We are delighted with the results of the initial drilling program and confirmation of our IP interpretation. With excellent widths and grades, this is a promising start to what is a very encouraging project. There is clearly significant potential and we look forward to uncovering the rich history and further opportunity that this property holds."
Garry Clark, P. Geo., of Clark Exploration Consulting, is the "qualified person" as defined in NI 43-101, who has reviewed and approved the technical content in this press release.
About General Copper Gold Corp.
General Copper Gold Corp. is an independent mineral exploration company based in Vancouver, British Columbia that is engaged in the business of exploring for and evaluating mineral properties.
General Copper Gold is currently exploring the 2,313 hectare Topley Richfield copper-gold property in British Columbia. Topley Richfield is a historic mining area with previous work carried out in 2008, 2015 as well as geophysical surveys in 2021. There are significant historical drilling intercepts and the 2021 geophysics has highlighted further key highly prospective areas that have yet to be explored. Multiple drill targets have already been identified by the Company.
For further information, please contact:
General Copper Gold Corp.
Michelle Gahagan, President
T: (604) 639-4452
E: mgahagan@intrepidfinancial.co.uk
Reader Advisory
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the proposed private placement and exploration of the Topley Richfield mineral properties. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
The CSE has in no way passed upon the merits of the proposed transactions and neither has approved nor disapproved the contents of this press release.
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