CopperBank Advances Copper Creek Data Review and Identifies Exploration Targets
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VANCOUVER, BC / ACCESSWIRE / March 17, 2021 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK) is pleased to announce that it has retained Resource Potentials (ResPot) of Perth, Western Australia, to reprocess the historic geophysics on its Copper Creek Cu-Mo-Ag project, Pinal County, Arizona. Historic geophysics on the project includes ground mag, IP, MT, and a significant airborne ZTEM-mag survey.
In 2015, the airborne ZTEM-mag survey covering 1269 line kilometers over approximately 240 kms² was completed by Geotech and Condor Consulting. The results assisted the previous operator of the project in the analysis of district metallogenesis and drill targeting. Both 2D and 3D inversions were performed.
ResPot will focus on detailing of the existing geophysical and prospect anomalies and integration of the updated geologic maps, ASTER-SRTM DEM data, historic geophysics, and the extensive geochemical database with the ZTEM on detailed topography. In addition, these results will assist in future geophysical surveys being considered including MT, gravity, and 3D down-hole IP. All data will be imported into the project Leapfrog model for visualization.
Drill targeting on numerous well-documented brownfields, greenfields, and in-fill target areas is in progress and moving forward. Principle targets on the Copper Creek project are the Laramide porphyry related and well-mineralized breccia pipes, secondary enrichment, disseminated mineralization and extensive vein-swarm mineralization in the district. Potential exists for skarn-CRD related replacement targets as exploration moves forward by CopperBank. The results are expected from ResPot by mid-May, 2021.
The Copper Creek property lies at the intersection of the north-east trending Silver Bell-San Manuel-Morenci copper mine trend and stratigraphy which hosts the giant Resolution and Ray copper porphyry deposits situated 50 miles to the north-west. The Copper Creek mineralizing system consists numerous high-grade copper-molybdenum-rich breccia pipe emanating from a buried and defined porphyry copper deposit. Further exploration work is being targeted to define limits to these mineralized bodies and the potential for discovery of new breccia pipes is considered high. Only 10% of the known breccia bodies have been drill tested to date and no drilling has been undertaken at the historical resource area of Copper Creek since 2013.
Mark I. Pfau of Tellurian Exploration, Inc., is a Qualified Person under National Instrument 43-101 and has approved the technical portions of this press release. Mr. Pfau is an exploration and resource targeting specialist in the porphyry and related geologic environments.
CopperBank is a Canadian exploration mining company focused on energy related metal exploration in The United States of America. The Company trades on the Canadian Securities Exchange - CSE- under the symbol "CBK".
On behalf of CopperBank Resources Corp.
Advisory Regarding Forward-Looking Statements
Certain information in this release constitutes forward looking statements or information ("forward-looking statements") under applicable securities laws and necessarily involves risks and uncertainties. Forward-looking statements included herein are made as of the date of this news release and, except as required by applicable law, CopperBank does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Forward-looking statements relate to future events or future performance and reflect management of CopperBank's expectations or beliefs regarding future events. In certain cases, forward-looking statements can be identified by the use of words such as "plans", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. Examples of forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's ongoing review of its existing portfolio, the involvement of CopperBank in any potential divestiture, spin-out, partnership or other transactions involving the Company's portfolio assets, and the ability of the Company to complete any such transactions, the ability of CopperBank to enter into transactions that will ultimately enhance shareholder value, and potential future work or activities in respect of the Pyramid project or the Contact project. Although CopperBank believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to CopperBank. Forward-looking statements are based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to, the Company's ability to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Such factors include, but are not limited to, the risk that the Company will not be able to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. Although CopperBank has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. For more information on CopperBank and the risks and challenges of its businesses, investors should review the continuous disclosure filings that are available under CopperBank's profile at www.sedar.com.
SOURCE: CopperBank Resources Corp.
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