VANCOUVER, BC / ACCESSWIRE / January 20, 2021 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK) announces that it is mobilizing members of its technical team for a multi-week review at its 100% owned, sixteen square mile Copper Creek Project, located in Arizona's "Copper Corridor" in southeast Pinal County. CopperBank management is executing a multi-phase development strategy for the project with the nucleus of the phase-one plan intended to merge, update, and expand historical exploration proposals with results from the upcoming review.
An historical 43-101 compliant resource was completed by Independent Mining Consultants (IMC) of Tucson, Arizona and was published by the previous operator, Redhawk Copper, on May 10, 2012. CopperBank does not consider this historical resource estimation to be current. Upon completion of the initial phases of the work programs, CopperBank intends to verify the historical 2012 resource by engaging an independent examiner and fulfill the National Instrument 43-101 requirements to update the project.
CopperBank CEO, Gianni Kovacevic comments; "Copper Creek is one of the largest undeveloped copper porphyry projects in the world. The basis of this press release is so that both investors and technical groups can become acclimated to the established parameters of the project, and more importantly, to give guidance as to the numerous areas where the project can be enhanced."
The upcoming field studies are intended to culminate in generating 15-20 conceptual drill holes with an objective to verify and expand historical resources that remain open in all directions. CopperBank's team will incorporate the historical leapfrog model and geophysics and reprocess previous airborne ZTEM and magnetic surveys using independent specialists to enhance and define drill specific targeting.
Collectively, the above-mentioned work programs and potential exploration drilling are anticipated to result in an updated mineral resource estimation in the future.
Targeting for future drill programs will be designated by:
District Greenfields targets focused on near-surface mineralization, specifically areas with hydrothermal breccia bodies and strong hydrothermal alteration and veining as in the RUM, Bluebird, East Creek and Holly areas of the project.
Resource Upgrade and Expansion targets designed to increase inferred resources and convert current inferred resources to indicated resources within the current 0.2% copper equivalent cut-off resource outline and potentially increase overall tonnage and grade of the established historical resource.
Property Greenfields targets focused on new concept discoveries on the property specifically in the Dry Camp and Diabase Ridge areas that are approximately 6km northwest and 4km southeast of the historical resource area on trend to the Resolution and Ray mining complexes.
The Company will also be re-opening its San Manuel, Arizona headquarters, located 15 miles southwest of the project. The 3 acre compound is the location of 220,000 meters of diamond drill core and all of the project data. Most of the project data has also been uploaded to cloud servers enabling remote review. As well, the technical team will be arranging selected core holes for ongoing review and showcase.
For demonstration purposes, a second isometric block diagram will be composed orthogonal to previous diagrams. Existing isometric diagrams provide visualization of the Copper Creek geology, alteration, mineralization, and exploration potential. This second diagram will allow for easier 3D visualization.
Qualified Person
Mark 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.
About CopperBank
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.
"Gianni Kovacevic"
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: [email protected]
Website: www.copperbankcorp.com
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.