VANCOUVER, BC / ACCESSWIRE / August 3, 2021 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK) is pleased to announce the completion of the reprocessing of the historical geophysics conducted on its 100% owned Copper Creek Project in Pinal County, Arizona. The reprocessing work was conducted by Resource Potentials (ResPot) of Perth, Australia, and was focused on the reinterpretation of the 2015 ZTEM Aeromagnetic survey which covered 215 square kilometers and 1,269-line kilometers. The reprocessing also incorporated ground magnetic data collected by previous operator AMT in 2001 and a VTEM orientation survey that was collected over the core of the Copper Creek district as part of the 2015 survey.
ResPot identified a number of significant results leading to reinterpretations in the original dataset. These include:
- Identification of a large ZTEM conductor coincident with most known mineralization and extending 3kms WNW and 1 km ESE of the known mineralization.
- This ZTEM conductor coincides with a strong VTEM conductor that may highlight mineralization and structures in the core area of the district. The VTEM data identified several other second-priority conductors not coincident with the ZTEM conductors.
- Four additional ZTEM conductors were defined as lower priority targets on the Copper Creek property which will be followed up in the field.
- ResPot also identified five brownfields magnetic highs and seven greenfields magnetic highs including four magnetic highs in the western breccia belt, approximately 1km west of the historical resource area and the least explored portion of the Copper Creek property.
- The structural information from the mag and ZTEM adds significant detail to the property geology by verifying and expanding suspected faults. The new interpretation suggests some off-setting of the mineralization and possible deep controls on breccia pipe formation.
In addition to the exciting anomalies identified, ResPot proposed 13 drill holes based on their interpretation of the ZTEM Aeromagnetic-VTEM dataset. These proposed drill holes are being evaluated for potential inclusion in the Phase 2 proposed drill program.
Prior to commencement of drilling, CopperBank plans to validate these new interpretations in the field so as to incorporate new high priority targets into the ongoing exploration effort at Copper Creek.
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.