Intersection At The West Graben Fault Target In Colorado

VANCOUVER - Allied Copper Corp. reported on the first modern drill test of the Klondike Property. Five holes were completed, testing targets at the Northeast Fault (two holes), West Graben Fault (two holes) and East Graben Fault (one hole). At the West Graben Fault, hole ‘KDB22-05’ yielded a 42 meter long (core length) section with strong alteration and anomalous copper mineralization in a halo surrounding a fault intersection of 4.26% copper over 1.06 meters. Management interprets this as a strong indication of the potential for copper mineralization in the main strand of the West Graben Fault. With 76 unpatented mining claims, a State of Colorado Exploration Permit and an exclusive right to a State lease, the Klondike property affords Allied and the Alliance extensive runway to define additional copper exploration targets. Combined with the Company’s recent acquisition of Volt Lithium Corp, active exploration of these copper assets supports Allied’s goal of becoming a meaningful and responsible contributor to the world’s battery metals supply.

“We are very pleased with the results of this first drill test, which intersected a strand of the West Graben Fault featuring a large alteration footprint and the presence of high-grade copper mineralization,” stated Warner Uhl, Executive Chairman of Allied. “This represents an important milestone in our journey to build a battery metals-focused company with the size and scale to deliver critical inputs needed for a clean energy future. Further, by focusing on assets within high integrity jurisdictions, such as Colorado for copper and Alberta for our lithium assets, stakeholders can be confident we are adhering to robust regulatory regimes with strong environmental regulation, all of which are important ingredients in the generation of long-term value for shareholders.”

Two holes were drilled in a scissor pattern to test the trace of the North East Fault, however problems with the drill rig prevented both holes from reaching target depth. 1) KDB22-01 was collared on Salt Wash Member sandstone that is strongly mineralized in the target area, including previous chip samples in 2021 that included 4.6 meters averaging 1.56% copper and 1.4 g/t silver. The first 3.4 meters of malachite and copper oxide mineralization were not recovered due to broken ground and setting casing, with the next 6.8 meters averaging 0.51% copper.

2) KDB22-04 intersected 3.08 meters of 0.24% copper from 14.57 meters depth. Given the targeted North East Fault was ultimately not tested here, the presence of significant copper mineralization at the tops of both KDB22-01 and -04 is particularly encouraging. Copper mineralized sandstones at the North East Fault target can be traced along the fault and outboard from it into the adjacent sandstones over an area 200 meters long by 100 meters wide before becoming obscured beneath gravel cover. Further anomalous copper, including 2.1 meters of 463 ppm copper, was encountered over one kilometer (“km”) to the northwest where the structure and host strata next appear from beneath the same gravel cover.

Two holes, KDB22-02 and -05, were located to test the West Graben Fault target. KDB22-05 intersected an eastern strand of the West Graben Fault, which contained native copper and chalcocite at a depth of 44.96 meters. This interval returned 4.26% copper over 1.06 meters within a broad interval of anomalous copper mineralization (chalcocite and copper oxide) over 42 meters. This -05 hole exhibits extensive alteration and bleaching, with chalcocite and copper oxides within four different sedimentary units in the hole. Strong copper mineralization within the fault strand and the extent of alteration and bleaching within adjacent units suggests the main strand of the fault remains a highly prospective target.

One hole, KDB22-03, targeted the East Graben Fault, where surface sampling returned anomalous copper over 2 km of strike length, including 2.8% copper with 37.8 g/t silver and 1.5% copper with 24.3 g/t silver in rock samples. KDB22-03 encountered patchy malachite and copper oxides throughout the section cutting sandstones of the Salt Wash Formation. Drill rig difficulties again prevented the fault itself from being intersected and the target remains untested. However, the presence of patchy copper mineralization, particularly in the Salt Wash Formation, indicates the potential for copper mineralization between the two graben-bounding faults (East and West Graben Faults), a distance of 600 meters from KDB22-05.