Coast Copper Provides Exploration Update on its Home Brew Property Located Adjacent to the Elk Gold Project
TSX.V: COCO
VANCOUVER, BC, Dec. 9, 2021 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company") (TSXV: COCO) (formerly Roughrider Exploration Limited) announces an update on its 100% owned 520-hectare Home Brew property (the "Property") located in southern B.C. The Property, which is located adjacent to Gold Mountain Mining Corp.'s Elk Gold project¹ 60 kilometers ("km") east of Merritt, lies along Highway 97c (Okanagan Connector; see Figure 1). The Property covers two undrilled minfile gold occurrences; the Brew and Annie Oakley zones, which cover narrow quartz veins hosting gold and silver values from historical rock samples that assayed up to 2.23 grams per tonne ("g/t") gold and 1,046 g/t silver, respectively².
During the 2021 field season, Peter E. Walcott & Associates completed a 100-line km airborne magnetic survey of the Property. that highlighted several magnetic highs that correlate well with both known and possibly unknown intrusions into the dominantly volcanic package. Magnetics also display linear west-south westerly trends that roughly parallel the vein trends on the immediately adjacent Elk Gold project (see Figure 1).
Coast Copper has recently purchased a 100% ownership interest in one small internal claim from an arms-length individual.
Adam Travis, the Company's CEO comments: "Congratulations to our neighbors at Gold Mountain on receiving their final approval to start mining at the historic Elk Mine and updating their resource. We recognized exploration potential in the surrounding area in early 2020 and staked our Home Brew property located adjacent to the Elk Gold project and within 2 km of the past gold-producing Elk open pit. The compilation of historical data combined with our new, detailed airborne magnetic survey shows that historical occurrences are lining up with the margins of magnetic highs (intrusive bodies) and linear structures not unlike the vein trends noted on the adjacent Gold Mountain property. We wish Gold Mountain continued success with the commencement of commercial production as we continue to advance exploration on our adjacent ground."
Qualified Persons
The scientific and technical information contained in this news release has been prepared, reviewed and approved by Wade Barnes, P.Geo. (British Columbia) of Tripoint Geological Services, Coast Copper's Geological Consultant and a Qualified Person within the context of Canadian Securities Administrators' National Instrument 43-101; Standards of Disclosure for Mineral Projects.
About Coast Copper Corp.
Coast Copper's exploration focus is the optioned Empire Mine Property, located on Northern Vancouver Island, B.C., 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 Eldorado, Gin and Bonanza properties located in the Golden Triangle of northern B.C. which are adjacent to the Red Chris Mine, the Knob Hill NW Property located on northern Vancouver Island and the 100% owned Sterling, Sandy and Home Brew properties which are located in central B.C. 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
CAUTIONARY NOTES RELATED TO RELEASE AND FIGURES
- This news release and related maps contain information about adjacent properties on which Coast Copper has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
- Rowe, J. D. (1991). Geochemical Report on the King 1-10 Mineral Claims. Geological Branch Assessment Report 21,922.
- Gold Mountain Mining Corp.'s Elk Gold Project Website
- Sookochoff, L (2016). Geological & Geophysical Assessment Report of the nine claim Toni 1032368 Claim Group. Geological Branch Assessment Report 35,891.
Neither 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
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.
Adam Travis, CEO, Coast Copper Corp, 409 Granville Street, Suite 904, Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E: [email protected], NR21-013
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