Vancouver, British Columbia--(Newsfile Corp. - May 23, 2024) - Stamper Oil & Gas Corp. (TSXV: STMP) (FSE: TMP2) ("Stamper" or the "Company") Is delighted to provide an exploration discussion and review related to our Redonda Copper property.
Comments from President and CEO Bryson Goodwin:
"I am pleased to provide my opinions and insight about the Company's wholly owned Redonda Copper assets.
I think it is important for shareholders to recognize the value associated with their investment and continued support in Stamper especially in relation to the global acknowledgement of unaddressed copper shortages. With copper now forecasted to exceed $15,000 a tonne in 2025, it is of no surprise that the world is looking for safe strategic copper supplies.
I also feel it is of importance that I highlight all exploration data presented by Stamper uses a pricing model of $3.22 per pound in all of its assumptions. Current forecasts put copper at $6.80 per pound by 2025. Management and our exploration team are assessing all of our exploration mandates based on the new forecasted copper price models. We are also implementing plans to do metallurgical testing on exploration samples to ensure recoveries and revised/ future resource estimates are updated and corrected using new pricing models.
The past two years marked an incredible turning point for Stamper shareholders. The assay results stemming from our 2023 exploration drill program, combined with historic drilling have given us the confidence of a solid copper asset deserving a focused and diligent exploration and development program. Our drilling to date indicates a "STARTING" at near surface high grade copper property open at depth and on all sides. Long intercepts and great grades had our team excited at $3.22 per pound of copper, now we are reworking or assumptions at current and future grades with a greater level of anticipation.
As we navigate the landscape of impending copper scarcity and anticipate further appreciations in copper valuations, Stamper looks to be perfectly positioned.
Please find below a compilation of all assay results reported at Redonda."
Table of 2023 Exploration Program
Combined with Historic 1979 Intercepts
| Hole # |
From/To |
Core Length |
Cu% |
Mo% |
Re (ppm) |
Hole Red-23-04
Mineralization starts from surface |
3.1-18.2m |
15.2m |
0.452 |
0.0265 |
0.1053 |
| Hole Red-23-04 |
25.5-97.5m |
72m |
0.235 |
0.0228 |
0.1106 |
| Hole Red-23-04 Hole bottoms in good grade |
147.8-163.1m |
30.3m |
0.212 |
0.0154 |
0.0514 |
Hole Red-23-03
Mineralization starts from surface |
3.1-48m |
45.0m |
0.329 |
0.0265 |
0.1111 |
| Hole Red-23-03 |
68.8-141.0m |
77.3m |
0.323 |
0.0197 |
0.0791 |
| Hole Red-23-03 Hole bottoms in good grade |
199.5-210.0m |
10.5m |
0.174 |
0.0117 |
0.0563 |
Hole Red-23-05
Mineralization starts from surface |
2.7-33m |
30.3m |
0.213 |
0.0192 |
0.0749 |
Hole Red-23-05
Hole bottoms in good grade |
39.3-182.0m |
142.6m |
0.279 |
0.0281 |
0.0927 |
Hole Red 23-02
Mineralization starts from surface |
3.1-111.0m |
108m |
0.251 |
0.025 |
0.1025 |
Hole Red-23-02
Hole bottoms in good grade |
158.5-169.2m |
10.7m |
0.375 |
0.1377 |
0.5871 |
| Hole Red-23-01 confirmation hole collared outside Potassic Zone |
60-67m |
7m |
0.136 |
0.0023 |
0.0167 |
| Historic Hole # |
From/To |
Core Length |
Cu% |
MoS2% |
Re (ppm) |
| DOH R79-2 |
110.0-200.0m |
90.0m |
0.21 |
0.019 |
|
DOH R79-3
Mineralization starts from surface |
3.4-27.5m |
24.1m |
0.42 |
0.075 |
|
| 35.0-60.0m |
25.0m |
0.19 |
0.024 |
|
| 67.5-97.5m |
30.0m |
0.17 |
0.120 |
|
| 140.0-152.5m |
12.5m |
0.30 |
0.015 |
|
DOH R79-5
Mineralization starts from surface |
2.7-55.8m |
53.1m |
0.33 |
0.025 |
|
| 92.5-135.0m |
42.5m |
0.20 |
0.038 |
|
| 155.0-172.5m |
17.5m |
0.37 |
0.010 |
|
| 182.5-210.0m |
27.5m |
0.22 |
0.021 |
|
DOH R79-6
Mineralization starts from surface |
2.5-30.0m |
27.5m |
0.23 |
0.058 |
|
| 142.5-155.5m |
10.0m |
0.10 |
0.045 |
|
| DOH R79-7 |
30.0-37.5m |
7.5m |
0.20 |
0.004 |
|
| DOH R79-8 |
125.0-135.0m |
10.0m |
0.06 |
0.034 |
|
DOH R79-9
Mineralization starts from surface |
5.0-15.0m |
10.0m |
0.16 |
0.014 |
|
| 97.5-110.0m |
12.5m |
0.19 |
0.011 |
|
| 175.0-210.0m |
35.0m |
0.09 |
0.27 |
|
About Redonda:
The project comprises 9 claims totaling 2746.46ha and is located 40km northeast of Campbell River, BC. Redonda is easily accessed with year-round, regularly scheduled barge service out of Campbell River via Marinelink. Access from Redonda Bay is by 5km of recently upgraded logging road. Logging is ongoing and assures a well-maintained complex of forest service roads across the claims. Work proceeded in 2021 under a Letter of Support from the Klahoose First Nation within their Traditional Territory and Free Use Permit, Drill Permit and IP Exemption from the Ministry of Energy, Mines and Low Carbon Innovation (EMLI).
The regional setting of the Redonda property is part of the Coast Suture Zone between the Wrangellia Terrane and the Coast Plutonic Complex. In the claims area, Early Cretaceous dioritic intrusive rocks of the Coast Plutonic Complex have been intruded by at least three later intrusive units, including a quartz plug, previously interpreted wide hornblende dike which is locally brecciated over its 600 meter exposed length and several smaller feldspar dikes which cut dioritic rocks near the southwest margin of the previously interpreted hornblende-rich body. Higher concentrations of copper-molybdenum mineralization are closely associated with the hornblende dike, particularly in areas where it has been brecciated. The geological setting of the mineralization on the Redonda mineral claims share a number of features similar to those observed at the OKover copper-molybdenum porphyry deposit located 34 km to the southeast, north of Powell River and the Gambier Copper deposit in Howe Sound.
Qualified person
The technical disclosure in this new release has been read and approved by J. T. Shearer, M.Sc., P.Geo. (BC & Ontario), a qualified person as defined in National Instrument 43-101. Mr. Shearer is not arms length.
About Stamper Oil & Gas
Stamper Oil & Gas Corp. (TSXV: STMP) is an "Energy Commodity Focused" resource company, seeking to acquire interests in mineral and/or oil & gas resource properties focused on energy creation, storage or delivery. The Company is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets.
As part of our commitment to transparency, we encourage shareholders to review all new releases that pertain to the Redonda property, which are readily available on Sedar+.
ON BEHALF OF THE BOARD OF DIRECTORS
"Bryson Goodwin"
Bryson Goodwin, President & CEO
Chairman of Board of Directors
For further information, please contact:
Phone: 604-341-1531
Email: brysongoodwin@shaw.ca
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 release.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Stamper Oil & Gas Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Stamper Oil & Gas Corp. management on the date the statements are made. Except as required by law, Stamper Oil & Gas Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210192
