Carube Copper Expands Porphyry Mineralization at Bellas Gate

Drill hole intersects 340m of copper-gold mineralization including 14m of 1.04% CuEq

Ottawa, Ontario–(Newsfile Corp. – July 5, 2017) – Carube Copper Corp. (TSXV: CUC) is pleased to report the results from PVT-17-004, the initial hole drilled in a 2,000m program within the 100% owned Bellas Gate Project in Jamaica.

Results from PVT-17-004 include:

  • continuous copper mineralization over 340.1m from 45.3 to 385.4m, hole ending in mineralization; and
  • a 55.3m interval yielding 0.51% CuEq1 including a higher-grade section containing 14m of 1.04% CuEq1
Drill Hole From (m) To (m) Length (m)2 Au ppm %Cu %CuEq1
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 CEO 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 339.15m from 29.0 to 368.2m, hole ends in mineralization; and
  • a 10m interval yielding 1.79% CuEq3

Drill Hole From (m) To (m) Length (m)2 Au ppm %Cu %CuEq1
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

 

1 CuEq (Copper equivalents) are calculated using a US $3.00/lb. copper and a US$1200 per ounce gold price assuming unlimited internal dilution and 100% recovery of both metals
2
The intervals do not necessarily indicate true width of mineralization, as its geometry is not known.
3
Previously announced in Press Release of July 22, 2016

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 at http://ift.tt/2qJBlW0 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 on-going at the Provost SE 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 dykes throughout, ranging in age from pre-mineral to post-mineral. Chlorite-sericite alteration was encountered briefly at the beginning of the hole but graded into potassic alteration comprised of 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+/-bornite, chalcopyrite-pyrite+/-bornite sulfide veins, as well as disseminated, fracture filling and hairline copper sulfides. Veining intensity was variable throughout ranging from weak to intense. Copper mineralization as copper sulphides ranged anywhere from 0.1% up to 5.0%, being mostly coincident with veining intensity. Chalcopyrite+/-bornite was encountered at the bottom of the hole leaving potential for expansion horizontally and vertically within the 28 hectare Provost Prospect.

QP Statement: This press release has been reviewed and approved by Mr. Shannon Baird, P.Geo., Carube Copper’s Exploration Manager in his capacity as a qualified person as defined under NI 43-101

Additional Corporate Information

The company’s outstanding share capital now stands at 107,752,208 common shares, following the June 22nd 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% interest in 11 licenses, totalling 535 square kilometres. In Canada, it holds a 100% 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 has recently intersected over 340m of continuous copper and gold mineralization at the Provost Prospect.

Contacts

Jeff Ackert, President and CEO • 1-613-839-3258 • jackert@carubecopper.com
Vern Rampton, VP of Corporate Development • 1-613-839-3258 • vrampton@carubecopper.com
www.carubecopper.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER & FORWARDLOOKING STATEMENTS

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR. Undue reliance should not be placed on “forward looking statements”.

IMPORTANT NOTICE: Carube Copper hereby incorporates the entire disclaimer set forth on its website at http://ift.tt/2pcAJUU

from Newsfile Corp News Releases http://ift.tt/2sFnCkG

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s