Coast Copper Acquires Ground Adjacent to PJX Resources New Sullivan Style Mineralization Discovery
TSX.V: COCO
VANCOUVER, BC, Feb. 12, 2024 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company") (TSXV: COCO) is pleased to announce that it has staked the Sully mineral claims ("Sully" or the "Property") adjacent to PJX Resources Inc.'s ("PJX") recent massive sulphide zinc, lead and silver discoveries located approximately 35 kilometers ("km") east of the past producing Sullivan Mine (which was in operation from 1900 to 2001) near Kimberley BC.
The Sully property is comprised of 3 mineral claims covering 5,134.52 ha and located adjacent to PJX (see Figure 1) where it announced that it recently discovered significant zinc and lead mineralization in outcrops that further supports the potential to discover a Sullivan type mineral occurrence on the PJX property¹. The Sully property covers ground that hosts the strike extension to the north of the favourable Aldridge Formation, cross structures to the northeast and additional ground to the east of the PJX discovery. Historical regional geochemical surveys ("RGS")² on the Sully property have returned anomalous results of silver and lead in-stream sediments³ which warrant further investigation as well as follow up on the 1999 discovery of tetrahedrite (silver mineral) in brecciated limestone at the Red Zone and unexplained lead, zinc, silver and gold anomalies in soils to the north. Rock grab sample 125679 taken in 1999 by Mr. Travis returned 1.675 grams per tonne ("g/t") gold, 228 g/t silver, 3.83% copper, 3,010 parts per million ("ppm") lead and 4,270 ppm zinc⁴ and attest to exploration potential of the area within 10 km of the new PJX Discovery.
Adam Travis, CEO of Coast Copper comments: "Although we remain focused on our flagship Empire Mine property and continue to expand our understanding of the past producing Benson Lake and Merry Widow Mines as well as prepare for future drill programs, this opportunity to acquire ground adjacent to the newly discovered Sullivan style mineralization by PJX Resources was too good to pass up, especially considering the only cost to the Company was staking fees. I previously worked in the area in 1999 under the Prospectors Assistance Program and made new silver, gold, lead and zinc discoveries and we are excited to get back to the region and follow up some of my previous anomalies in the context of these new discoveries by PJX."
The technical information contained in this news release has been prepared, reviewed, and approved by Wade Barnes, P.Geo. (BC), Coast Copper's geological consultant and a Qualified Person ("QP") within the context of the Canadian Securities Administrators' National Instrument ("NI") 43-101; Standards of Disclosure for Mineral Projects.
Coast Copper's exploration focus is the optioned Empire Mine property, located on northern Vancouver Island, BC, which covers three historical open pit mines and two past-producing underground mines that yielded iron, copper, gold, and silver. Coast Copper's other properties include its 100% owned Knob Hill NW property located on northern Vancouver Island, its Home Brew property in central BC, and its Scottie West property located in the "Golden Triangle" of northern BC. Coast Copper's management team continues to review precious and base metals opportunities in western North America.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis, Chief Executive Officer and Director
- This News Release may contain information about adjacent properties on which Coast Copper Corp has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are no indicative of mineral deposits on the Company's properties.
- Historical information, maps or figures contained in this release regarding Coast Copper's Empire Mine Property or adjacent properties cannot be relied upon as the Company's QP, as defined under NI-43-101 has not prepared nor verified the historical information.
- Regional Geochemical Survey Data sourced from British Columbia Geological Survey, Map Place.
- A Summary of Reconnaissance Geological Mapping, Prospecting, Rock Chip Sampling and Stream Sediment Sampling Completed on the Tiger 1-14 Mineral Claims, Adam Travis, 1999. PAP99-40. Prospectors Assistance Program.
- PJX Resources Inc Website, January 15, 2024 news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board, and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological, and competitive uncertainties, and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation, or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.
SOURCE Coast Copper Corp.
please contact: Adam Travis, CEO, Coast Copper Corp, 409 Granville Street, Suite 904, Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E: [email protected], NR24-02
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