TSX.V: COCO
The objectives of the
- Quick turnaround: financing closed on
November 29, 2021 , drilling finished onDecember 20, 2021 Coast Copper's first core drilling of theMerry Widow Zone ; one of ten main target areas on the Property returned significant copper, gold, and magnetite results (see following Tables 1 to 3 and Figure 1).- Broader intercepts included: MW21-004: 1.67 grams per tonne ("g/t") gold ("Au") and 0.22% copper ("Cu") over 34.92 metres ("m"); MW21-007: 1.84 g/t Au and 0.20% Cu over 39.54 m; MW21-008: 1.63 g/t Au and 0.46% Cu over 42.77 m and MW21-013: 1.22 g/t Au and 0.39% Cu over 51.06 m.
- High-grade intercepts included: MW21-004: 8.15 g/t Au and 0.57% Cu over 4.86 m; MW21-007: 18.00 g/t Au and 1.55% Cu over 3.23 m; and MW21-008: 4.69 g/t Au and 0.34% Cu over 10.80 m.
- Although iron-hosting magnetite zones were not targeted in this program, many zones were intercepted at margins of the historical Merry Widow magnetite iron ore workings indicating potential to increase the magnetite resource (see Table 2).
- Half of the initial drillholes terminated prematurely in underground workings often ending in mineralization, for example MW21-003 intersected 1.18 g/t Au and 0.36% Cu over the final 3.30 m and MW21-005 intersected 8.83 g/t Au and 0.37% Cu over the final 1.62 m.
- First core drill program on the Property to geologically log, photograph, complete systematic magnetic susceptibility and specific gravity measurements, sample the entire length of the drill core, properly assay it for magnetite iron ore and securely store it in
Port Hardy , as no permanent record or drill core remains from previous programs.
Table 1: 2021 Empire Drill Program Significant* Merry Widow Drill Results | |||||||||
Hole ID | From (m) | To (m) | Interval** (m) | Au (g/t) | Cu (%) | Silver ("Ag") (g/t) | Cobalt ("Co") (%) | AuEq*** (g/t) | CuEq**** (%) |
MW21-002 | 8.82 | 32.12 | 23.30 | 0.29 | 0.15 | 1.5 | 0.004 | 0.60 | 0.36 |
MW21-003 | 17.95 | 52.95 | 35.00 | 0.94 | 0.25 | 2.8 | 0.006 | 1.61 | 0.88 |
including | 17.95 | 19.28 | 1.33 | 17.24 | 0.25 | 6.6 | 0.029 | 18.03 | 10.95 |
MW21-004 | 10.86 | 45.78 | 34.92 | 1.67 | 0.22 | 3.3 | 0.007 | 2.14 | 1.30 |
including | 29.62 | 34.48 | 4.86 | 8.15 | 0.57 | 11.4 | 0.010 | 9.34 | 5.67 |
MW21-005 | 6.44 | 39.95 | 33.51 | 1.10 | 0.39 | 6.1 | 0.007 | 1.89 | 1.15 |
including | 28.58 | 29.38 | 0.80 | 5.92 | 5.94 | 97.5 | 0.014 | 17.11 | 10.40 |
including | 33.26 | 39.95 | 6.69 | 4.27 | 0.82 | 14.8 | 0.010 | 5.91 | 3.59 |
and | 64.65 | 66.27 (end of hole) | 1.62 | 8.83 | 0.37 | 9.2 | 0.010 | 9.66 | 5.87 |
MW21-006 | 11.05 | 23.52 | 12.47 | 2.25 | 0.29 | 2.8 | 0.006 | 2.82 | 1.72 |
including | 15.00 | 16.42 | 1.42 | 7.69 | 0.41 | 2.5 | 0.008 | 8.48 | 5.15 |
MW21-007 | 4.00 | 43.54 | 39.54 | 1.84 | 0.20 | 3.3 | 0.006 | 2.27 | 1.38 |
including | 23.43 | 26.66 | 3.23 | 18.00 | 1.55 | 28.0 | 0.012 | 21.04 | 12.78 |
MW21-008 | 21.23 | 64.00 | 42.77 | 1.63 | 0.46 | 6.2 | 0.008 | 2.55 | 1.55 |
including | 23.96 | 28.06 | 4.10 | 3.10 | 3.35 | 40.4 | 0.018 | 9.32 | 5.66 |
including | 42.55 | 53.35 | 10.80 | 4.69 | 0.34 | 7.0 | 0.012 | 5.46 | 3.32 |
MW21-009 | 72.94 | 75.00 | 2.06 | 3.32 | 0.05 | 1.7 | 0.111 | 4.51 | 2.74 |
MW21-013 | 37.07 | 89.63 | 51.06 | 1.22 | 0.39 | 4.8 | 0.008 | 2.00 | 1.22 |
including | 55.11 | 61.00 | 5.89 | 2.17 | 1.13 | 17.1 | 0.012 | 4.37 | 2.66 |
including | 66.00 | 68.00 | 2.00 | 7.68 | 0.88 | 19.8 | 0.012 | 9.51 | 5.78 |
including | 72.00 | 73.49 | 1.49 | 16.30 | 0.69 | 16.0 | 0.011 | 17.75 | 10.79 |
and | 107.74 | 109.71 | 1.97 | 6.78 | 0.17 | 4.5 | 0.014 | 7.26 | 4.41 |
including | 107.74 | 108.17 | 0.43 | 18.00 | 0.52 | 12.8 | 0.036 | 19.38 | 11.77 |
MW21-014 | 40.00 | 76.11 | 36.11 | 0.96 | 0.24 | 3.5 | 0.007 | 1.47 | 0.89 |
including | 47.00 | 50.15 | 3.15 | 0.71 | 1.37 | 18.1 | 0.018 | 3.38 | 2.05 |
including | 65.21 | 66.23 | 1.02 | 6.98 | 0.22 | 5.3 | 0.024 | 7.65 | 4.65 |
including | 74.54 | 76.11 | 1.57 | 5.64 | 0.08 | 0.8 | 0.002 | 5.80 | 3.53 |
and | 132.00 | 133.20 | 1.20 | 4.40 | 2.19 | 32.9 | 0.011 | 8.54 | 5.19 |
MW21-001: abandoned after 9.0 m, MW21-002, 03, 05, 06, 07, 13 and 14: terminated in underground workings, * Significant defined as Gold Equivalent x Metres > 7 or Copper Equivalent x Metres > 7, **The intervals reported in this table represent drill intercepts and insufficient data is available at this time to state the true thickness of the mineralized intervals. The Metal prices used in CuEq and AgEq calculations are as follows: Gold |
Table 2: 2021 Empire Drill Program Significant* | Table 2 cont.: 2021 Empire Drill Program Significant* | |||||||||
Hole ID | From | To | Interval ** (m) | Fe | Hole ID | From | To (m) | Interval ** (m) | Fe | |
MW21-001 | 1.70 | 9.00 | 7.30 | 35.2 | and | 82.55 | 83.88 | 1.33 | 53.6 | |
including | 1.70 | 3.00 | 1.30 | 50.4 | and | 86.5 | 88.41 | 1.91 | 58.0 | |
including | 7.21 | 8.41 | 1.20 | 55 | and | 92.1 | 93.17 | 1.07 | 63.2 | |
MW21-002 | 2.25 | 4.63 | 2.38 | 49.5 | and | 94.32 | 95.08 | 0.76 | 52.8 | |
and | 14.39 | 16.59 | 2.20 | 51.7 | MW21-005 | 2.50 | 3.92 | 1.42 | 54.3 | |
and | 25.46 | 26.85 | 1.39 | 56.4 | and | 6.44 | 8.28 | 1.84 | 44.7 | |
and | 32.12 | 34.38 | 2.26 | 38.5 | and | 10.66 | 12.83 | 2.17 | 41.6 | |
and | 41.03 | 44.98 | 3.95 | 48.1 | and | 24.16 | 25.65 | 1.49 | 64.3 | |
and | 46.72 | 48.75 | 2.03 | 55.3 | and | 45.67 | 47.72 | 2.05 | 51.8 | |
and | 50.92 | 54.00 | 3.08 | 35.3 | MW21-008 | 28.06 | 34.25 | 6.19 | 45.2 | |
MW21-003 | 2.350 | 4.97 | 2.62 | 55.3 | and | 36.25 | 37.25 | 1.00 | 55.6 | |
and | 13.62 | 15.1 | 1.48 | 45.3 | MW21-009 | 43.78 | 45.89 | 2.11 | 48.6 | |
and | 34.70 | 35.28 | 0.58 | 40.4 | MW21-013 | 19.40 | 22.4 | 3.00 | 53.6 | |
and | 35.93 | 36.76 | 0.83 | 43.9 | and | 37.07 | 38.51 | 1.44 | 40.2 | |
MW21-004 | 2.20 | 4.25 | 2.05 | 49.8 | and | 45.00 | 48.76 | 3.76 | 59.3 | |
and | 6.19 | 7.32 | 1.13 | 49.9 | and | 63.39 | 64.25 | 0.86 | 46.2 | |
and | 40.17 | 43.04 | 2.87 | 40.2 | and | 109.71 | 115.76 | 6.05 | 47.4 | |
and | 46.63 | 58.32 | 11.69 | 46.4 | and | 122.48 | 125.1 | 2.62 | 48.2 | |
and | 59.30 | 60.57 | 1.27 | 59.1 | and | 134.15 | 146 | 11.85 | 52.6 | |
and | 62.50 | 63.94 | 1.44 | 54.3 | MW21-014 | 125.25 | 143.2 | 17.95 | 49.9 |
* Significant defined as Iron results > 35%. |
**The intervals reported in this table represent drill intercepts and insufficient data is available at this time to state the true thickness of the mineralized intervals. |
Table 3: Drill Hole Locations, Azimuth and Dip | |||||||
Hole ID | Easting | Northing | Elevation m | Total Length (m) | Azimuth | Dip | Size |
MW21-001 | 624270 | 5579670 | 677.000 | 9.00 | 280 | -55 | NQ |
MW21-002 | 624295 | 5579700 | 687.640 | 55.20 | 275 | -55 | NQ |
MW21-003 | 624295 | 5579700 | 687.000 | 52.95 | 275 | -75 | NQ |
MW21-004 | 624295 | 5579700 | 687.000 | 129.00 | 292 | -45 | NQ |
MW21-005 | 624295 | 5579700 | 674.874 | 66.27 | 257 | -45 | NQ |
MW21-006 | 624295 | 5579700 | 674.489 | 49.70 | 259 | -62 | NQ |
MW21-007 | 624296 | 5579700 | 674.710 | 100.00 | 249 | -88 | NQ |
MW21-008 | 624298 | 5579738 | 701.326 | 97.00 | 292 | -49 | NQ |
MW21-009 | 624331 | 5579755 | 700.781 | 129.00 | 289 | -44 | NQ |
MW21-010 | 624340 | 5579794 | 700.614 | 150.00 | 293 | -50 | NQ |
MW21-011 | 624293 | 5579771 | 712.988 | 113.00 | 269 | -44 | NQ |
MW21-012 | 624266 | 5579784 | 720.739 | 141.00 | 271 | -45 | NQ |
MW21-013 | 624267 | 5579783 | 720.781 | 150.00 | 190 | -55 | NQ |
MW21-014 | 624267 | 5579782 | 720.793 | 146.00 | 190 | -64 | NQ |
QA/QC Statement on Assay Results
The 2021 drill sample collection was supervised on-site by
All samples were analyzed by 48 element ultra-trace 4-acid ICP digestion. Copper assays >10,000 ppm and Ag assays >100 g/t were reanalyzed with an
Iron ore analysis was determined by borate fusion and XRF finish.
Qualified Persons
The technical information contained in this news release has been prepared, reviewed, and approved by
About Coast Copper Corp.
On Behalf of the Board of Directors:
"Adam Travis"
Cautionary Notes Related to this News Release and/or maps
- NI 43-101 Technical Report: Giroux, G.H., & Raven, W. (
November 30, 2008 ). Technical Report on the Copper Gold Resources for the Merry Widow Property. Filed on SEDARJanuary 22, 2009 . The 2008 Grand Portage resource estimate was completed byGary H. Giroux ,P.Eng , MASc, ofGiroux Consulting Ltd. inVancouver, B.C. The estimate was based on a 3D geological model integrating 4,448 metres of diamond drilling of 43 drill holes, 2,290 assays, with 104 down-hole surveys collected between June andDecember 2006 . The resource was reported utilizing gold cut-off grades ranging from 0.10 g/t to 3.00 g/t gold, as more particularly set out in the report. A complete copy of the report is available on Grand Portage's public filings on SEDAR (www.sedar.com). A gold cut-off grade of 0.50 g/t gold was selected as representing one possible mining scenario. For the purposes of the calculations, lognormal cumulative frequency plots were used to assess grade distribution to see if capping of high values was required and if so at what levels. For all elements, capping levels were established based on the individual grade distributions as follows: Gold -- a total of 18 gold assays were capped at 32.0 g/t gold, Silver --a total of 9 silver assays were capped at 165 g/t silver, Copper -- a total of 7 assays were capped at 11.7% copper, Cobalt -- a total of 5 assays were capped at 0.48% cobalt, Iron -- all iron assays were capped at 50% iron (the analytical detection limit).
Neither the
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by
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