Vancouver, British Columbia--(Newsfile Corp. - June 21, 2024) - CopperEx Resources Corp. (TSXV: CUEX) (the "Company" or "CopperEx") today announced the commencement of a focused geological field exploration program in preparation for Phase II Drilling on the ADLP and Sopresa Targets at the Company's flagship Exploradora Norte Project, Northern Chile.
CopperEx plans to execute a three-week field work program with the exploration team having already mobilized on-site and commencing work on June 08, 2024. The field work program is designed to focus on infill areas and extensions in both the north and south directions on the ADLP Target, and infill areas and extension to the north on the Sorpresa Target. With the excavator now remobilized to site, the program is envisaged to include a total of approximately 12 additional trenches, adding to the four trenches excavated during the recently completed and published Phase I drill program. The inaugural drill program demonstrated robust gold grades including the following highlights:
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114.00 meters of 0.95 g/t Gold from 4.00-118.00 meters in RC hole A-RC-02 including:
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70.00 meters of 1.27 g/t Gold (22.00-92.00 meters)
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And 28.00 meters of 1.63 g/t Gold (46.00-74.00 meters)
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And 12.00 meters of 2.45 g/t Gold (62.00-74.00 meters)
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58.00 meters of 0.74 g/t Gold from 68-126 meters in RC hole S-RC-01 including:
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54.00 meters of 0.78 g/t Gold (72.00-126.00 meters)
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And 30.00 meters of 1.03 g/t Gold (72.00-102.00 meters)
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And 12.00 meters of 0.89 g/t Gold (114.00-126.00 meters)
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85.00 meters of 0.42 g/t Gold from 76.00-161.00 meters in RC hole S-RC-02 including:
For a complete list of drill intercepts from the inaugural drill program, see the Company's press release dated May 30th, 2024.
Once laboratory results have been received, the Phase II drill program design will be finalized, whereby the preliminary quotation process for drilling has commenced based upon a forecast range of meters to drill.
CopperEx expects to commence drilling Phase II in less than four months, with follow up drilling on the exceptional results of the recently completed and published inaugural drill program.
The ADLP and Sopresa Targets are located within the Franja del Oro area, part of an approximately 15-kilometer-long gold enrichment zone located in the northwestern part of the 23 by 13-kilometer (20,800 hectare) Exploradora Norte Project.
Highlights:
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CopperEx has commenced a focused geological field exploration program in preparation for Phase II Drilling on the ADLP and Sopresa Targets.
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The focused geological field exploration program is expected to be complete within three weeks and amongst other works will consist of approximately 12 additional trenches.
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Once laboratory results are in hand, CopperEx will finalize the Phase II drill program, focusing on the ADLP and Sopresa Targets.
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Phase II drilling is expected to commence in less than four months.
Dave Prins, President & CEO of CopperEx stated, "Based upon the excellent results of the recently published Phase I drill campaign, which demonstrated the robust gold grades and continuity at ADLP and importantly demonstrates that the newly identified surface gold mineralization at Sorpresa extends to depth and along strike, we are confident that the Phase II drill program will further expand on these results and the targets. We look forward to delivering the results from the Phase II drill campaign in a very timely manner, as was clearly accomplished on Phase I drilling."
John Robins, Technical Advisor to CopperEx stated, "I am excited as we begin preparations for our Phase II exploration program on the Sopresa and ADLP targets. The results from the Phase I program demonstrate the potential for a large oxide gold deposit, in addition to the project's copper potential."
Overall Exploradora Norte and Franja del Oro Plan
Figure 1: Exploradora Norte - Property map including key target areas and surface and trench rock geochemistry2.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10257/213784_ae55570364db7bc0_002full.jpg
Qualified Person
All scientific and technical information in this news release has been approved by Daniel MacNeil, PGeo, Technical Advisor to the Company. Mr. MacNeil is a qualified person for the purposes of NI 43-101.
Additional information about CopperEx and its Projects can be found on the Company's website at copperexcorp.com, or email info@copperexcorp.com.
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On behalf of the Board of Directors
CopperEx Resources Corp.
Dave Prins
President & CEO
For further information contact:
info@copperexcorp.com
+1 (604) 646-4527
About CopperEx Resources Corp.
CopperEx is a copper and gold focused exploration company with three porphyry and porphyry related gold and copper projects located in Chile and Peru in established mineral belts near producing mines. The Company's Flagship Property, Exploradora Norte, located in Northern Chile, has multiple high quality drill ready targets. At Exploradora Norte, CopperEx has the option to earn 65% and a Preferred Option for an additional 35% with no attached royalty.
CopperEx has an Option Agreement for the 20,800-hectare Exploradora Norte property, to earn a 65% ownership interest, with a preferred option to earn an additional 35%. The property is located along the prolific West Fissure fault system in northern Chile, north of El Salvador and south of Escondida at 3,400 meters above sea level in the Chilean pre-cordillera. The property has a year-round operating climate with good access.
In addition to the Exploradora Norte property, CopperEx owns 100% of its Kio Buggy (Northern Chile) and La Rica (Apurimac province Peru) properties, also with no attached royalties. The CopperEx Exploradora Norte property is immediately adjacent (to the north and east) of Codelco's Exploradora property which hosts a resource estimated by Codelco to contain 190-280 Mt @ 0.40% Cu.(1,2)
The Company's priority is to advance exploration of the Franja del Oro Target at Exploradora Norte which includes the Sorpresa and Agua de la Piedra (ADLP) Targets, and the surrounding favorable host rocks which remain significantly underexplored.
Exploradora Norte Advanced Exploration Targets.
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The Franja del OroArea contains sediment and volcanics hosted gold mineralization with associated replacement textures and alteration consistent with epithermal gold deposits that form distal to a porphyry copper-gold system. The Franja del Oro area hosts multiple parallel, north trending stratigraphically and structurally controlled mineralized zones. CopperEx has conducted extensive exploration along 4-kilometer-long north-south trending segments of the high priority Sorpresa and Agua de la Piedra ("ADLP") Targets to assess surface gold grades, continuity (along strike) and to define individual drill targets. CopperEx has identified gold mineralization over approximately 7 kilometers along the ADLP system (surface rock geochemical results). CopperEx leveraged the strong correlation between gold and arsenic to expand the geochemical footprint of the Franja del Oro area using Portable XRF technology to approximately 15 kilometers (and remains open).
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Peuco - Porphyry Copper GoldTarget: Geochemical and geophysical anomalies spatially associated with tourmaline breccia bodies. Breccias consist of potassically altered porphyry clasts in quartz-tourmaline matrix associated with peripheral polymetallic veins and skarn alteration.
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Florencia Copper GoldTarget - Centered on a NW-SE trending structural corridor extending to the Exploradora porphyry Cu deposit (Codelco) ~5 km to the NW. IP Geophysical features (resistivity and chargeability) suggest the potential for porphyry style copper-gold mineralization at depth. Epithermal style quartz veins and breccia, alteration, and geochemical anomalism exist at surface.
Strategic Alliances.
CopperEx is a member of Discovery Group based in Vancouver, Canada. For more information please visit: discoverygroup.ca.
Cautionary Note.
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.
Notes
Forward-Looking Information.
Forward-Looking Statement (Safe Harbor Statement): This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the Company's exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks, and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors, and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.
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