Additional High-Grade Copper Intercepts At Jukes

VANCOUVER – CopperCorp Resources Inc. reported on the Jukes Cu-Au prospect in western Tasmania, Australia, where the Phase 2 drilling program has intersected both broad zones of near-surface mineralization and deeper, higher-grade copper-gold-silver intersections.
JDD007 intersected a broad zone of near-surface mineralization including: 1) 36.0m @ 0.54% Cu, 0.13g/t Au, 1.84g/t Ag (0.64% CuEq) from 66m. 2) 12.0m @ 0.77% Cu, 0.20g/t Au, 1.18g/t Ag (0.92% CuEq) from 69.0m. 3) 4.0m @ 0.98% Cu, 0.17g/t Au, 5.1g/t Ag (1.13% CuEq) from 89.0m.
At depth JDD007 intersected multiple high-grade structural Cu-Au lodes including: 1) 13.0m @ 1.18% Cu, 1.14g/t Au, 3.93g/t Ag (2.01% CuEq) from 205.0m. 2) 1.0m @ 6.28% Cu, 12.2g/t Au, 9.27g/t Ag (14.91% CuEq) from 206.0m. 3) 1.15m @ 5.34% Cu, 1.72g/t Au, 24.80g/t Ag (6.72% Cu Eq) from 213.85m.
The broad zone successfully extends fault-bound chalcopyrite copper mineralization beneath historical adit workings and remains open along strike. Drilling is underway to test the down-dip extension of this near-surface mineralization. High-grade mineralization at depth is associated with semi-massive chalcopyrite breccia veins and supports an emerging high-grade lode model at Jukes. An additional drill site located 100m west of JDD007 is being established. The new drill site will enable step out drilling along strike to the west to further test the shallower, broad zone of chalcopyrite mineralization. Multiple high-grade copper-gold zones are identified within the broader hydrothermal system at Jukes. Drilling to date has confirmed Cu-Au-Ag mineralization over a drilled strike length of at least 350 m and from near surface to depths exceeding 500 m vertically. Importantly, large portions of the Jukes system remain untested.
Stephen Swatton, President and CEO, said, “This year’s drill program (Phase 2) at Jukes has delivered strong results: Phase 1 and Phase 2 drilling have both confirmed that high grade copper-gold-silver mineralization remains open both along-strike and at depth. Accordingly, we are re-opening historical road tracks to access new drill sites west of where CopperCorp has drilled to date, this will enable us to test unexplained IP geophysical targets. It appears that the mineralization east of JDD001 and JDD007 is largely faulted out so the potential for further continuous copper-gold grade is anticipated to be located to the west and north.
These results are highly encouraging for Jukes and for the broader portfolio of prospects that we are advancing adjacent and along trend from Mount Lyell, including Linda, Hydes, Sumpters, and Marigold. These are just a few of the many targets within the 25 km-long prospective belt that is 100%-owned by CopperCorp.
Our neighbour, Sibanye-Stillwater, recently released an updated mineral reserve estimate and feasibility study for the Mount Lyell deposit1, located along strike from Jukes Prospect. The updated mineral estimate for the Mount Lyell deposit includes proved and probable reserves of 54.6 Mt at 0.88% Cu and 0.2 g/t Au (approximately 478,000 tonnes of in-situ copper and 350,000 ounces of in-situ gold). The Mount Lyell feasibility study envisages a 3 Mtpa operation with an initial 23-year mine life, producing approximately 26,000 tonnes of copper and 16,000 ounces of gold in concentrate annually.”