Drilling Mobilized At The Klondike Property

VANCOUVER - Allied Copper Corp. reported that crews will be mobilizing to the Klondike property in this month to complete the first modern drill test of the property. Site and logistical preparation will be completed prior to the drill arriving by late July. A five hole program, costing CAD$1.25m is planned to test three target areas for a total of 1,000 meters of drilling. The Klondike Property consists of 76 unpatented mining claims, a State of Colorado Exploration Permit and an exclusive right to a State lease.

“Turning the drill bit at Klondike is the major event that our shareholders, management and board have been looking forward to since the acquisition of the asset.” stated Warner Uhl, Chairman. “Three excellent targets exist at the Northeast Fault, West Graben and East Graben areas, each of which shows multi-kilometer strike length potential for copper mineralization. This first phase of drilling is designed to make an initial test of each of the three targets. Following phase one, Allied will have approximately CAD$2.25m in treasury for follow-on drilling and corporate activities.”

Two holes are planned for the Northeast Fault target to test the depth potential and follow up a 4.6m chip sample that averaged 1.56% copper and 1.4 g/t silver in 2021 sampling. One hole will test the East Graben Fault at depth, where surface grab samples returned 2.8% copper with 37.8 g/t silver. Two holes will test the West Graben Fault, following up 2021 sampling that returned 6.23% copper and 127 g/t silver from a grab sample.