Vancouver, British Columbia--(Newsfile Corp. - March 14, 2022) - District Copper Corp. (TSXV: DCOP) ("District Copper", "District", or the "Company") is pleased to announce its 2022 exploration plans for the Copper Keg porphyry copper project located approximately 55 kms west of Kamloops British Columbia. The property covers approximately 3272 ha and is located at the north end of the Guichon Creek batholith. Highlights of the program are:
- A 19.3 km deep penetrating ground geophysical survey recently completed
- A combined high sensitivity, airborne magnetic and radiometric survey
- Detailed mapping and prospecting, and
- Contingent on results of the above work program initial drill testing of identified targets.
Mr. Jevin Werbes, President and Chief Executive officer of District Copper, stated, "we are pleased to commence systematic evaluation of this exciting porphyry copper project. Historical exploration has identified primary and secondary copper mineralization, copper in soil geochemical anomalies and several chargeability anomalies associated with two advanced argillic alteration halos that exhibit a spatial association with a regional scale fault system located above a potential porphyry copper system at depth."
2021/2 Geophysical Surveys:
Induced polarization Survey
A deep penetrating Induced Polarization covering 19.3 line-kilometers was completed in October 2021 to map the chargeability and resistivity signatures at depth below the large area of intense argillic-silica alteration located along the Nicola Group/Guichon intrusive. The pyrite content and sporadic copper mineralization suggest that the surface alteration represents a possible lithocap of a porphyry copper system. A preliminary interpretation of the data is almost complete. This will be incorporated into the interpretation of the upcoming airborne magnetometer survey.
A combined high sensitivity magnetic and radiometric survey is planned over the property to map magnetic and radiometric signatures indicative of porphyry copper systems. The magnetic portion of the survey is expected to significantly add to the structural framework of the property and location of late-stage intrusive events. Magnetic Vector Inversion of the magnetic data is planned to identity the location and depth of interpreted late stage intrusives exhibiting potassic alteration halos (K-spar-magnetite-secondary biotite) due to the magnetite content.
Precision GeoSurveys of Langley, BC has been contracted to fly the survey.
About the Copper Keg Project:
Historical Exploration Results:
Exploration of the property dates to the late 1930s. The property was explored intermittently since the early 1970s. Exploration activities consisted of mapping, prospecting, limited Induced Polarization and VLF-EM geophysical surveys, soil geochemical surveys, limited petrographic studies and select rock sampling.
The project is located at the northern end of the Guichon Creek batholith, approximately 25 kms north of the large copper-molybdenum-silver deposits currently in production known as the Highland Valley complex operated by Teck Resources Limited. The Highland Valley deposits are hosted in the Guichon Creek batholith
The property is characterized by a large area of argillic-silica-pyrite alteration located along the Nicola/Guichon contact.
The property is underlain by three main rock types. The Nicola Group is a Late Triassic age, variably altered (silicification/chlorite/bleaching) suite of andesitic volcanics. The Nicola Group is intruded by several intrusive phases of the Guichon Batholith consisting of mainly granitic but also includes syenite, granodiorite, diorite, and quartz diorite phases. Historic mapping described the two main intrusive phases, as pale green-gray colour with pyrite occurring in veinlets/fractures and dissemination and trace sulphides (pyrite ± chalcopyrite). The argillic altered zone is intruded by fresh Quartz Feldspar Porphyry containing 2% quartz veins by volume. Quartz Monzonite porphyry dikes have also been mapped west of main gossan.
The Tertiary age Kamloops Group basalts occur along the southern margin of the property. These basaltic units were emplaced after formation of the Barnes Creek fault.
The main structural element within the property is the Barnes Creek Fault, a regional scale fault system that crosses the northern portion of the Guichon Creek batholith. This fault system marks the contact between the intrusive of the Guichon Creek batholith and Nicola Group andesitic volcanics.
Two areas of limonitic, argillic to advanced argillic alteration (gossans) with associated with copper mineralization and copper-silver soil anomalies occurs along the interpreted trace of the Barnes Creek fault. The first area is approximately 800m long by 200m wide the second area is located approximately 600 m south and is smaller in extent. The hydrothermal alteration pre-dates the late-stage intrusive dikes.
Historical petrographic examination (4 samples) of porphyritic andesites and Quartz Feldspar Hornblende porphyry describes secondary biotite (potassic alteration), sericite (phyllic alteration), and quartz veinlets with pyrite and chalcopyrite.
The K/Al: Na/Al ratios from whole rock analysis indicate an alteration package that ranges from argillic to potassic alteration.
Sulphide minerals mapped in outcrop are predominantly pyrite, chalcopyrite and bornite along with malachite (copper carbonate). The chalcopyrite and bornite occur as recrystallization of mafic minerals and are associated with silicification (quartz veinlets). The presence of malachite suggests weathering/oxidization/supergene concentration of a primary copper sulphide mineralization.
Select rock sampling results from within the main gossan returned copper values that ranged from 0.02% to 0.762% and silver values from 0.09 to 1.35 oz/T (3.09 to 46.29 g/t) with weak molybdenum values.
Historical geochemical surveys (totaling 6,500 samples) returned copper values that ranged from 1 to 1,440 parts per million and identified nine copper-in-soil geochemical anomalies with associated low order silver-molybdenum concentrations.
Induced Polarization Surveys:
IP surveys (1971) consisted of approximately 4.2 kms (on the current Copper Keg property) that identified weak to moderate chargeability signatures that coincide with the areas of argillic-silica alteration and is most likely due to the estimated 2-5% pyrite mapped within the alteration zone. First area (800m long) with +20 millisecond response was reported to contain 2-3 percent by volume metallically conducting material (Thor Explorations 1971 Assessment Report #03247). A second area of anomalous chargeability is associated with copper soil anomaly located 400m west of primary target.
Approximately 600m south of the main gossan, a weak chargeability response coincides with a copper in soil geochemical anomaly. Sampling of a pit within this anomaly returned 0.02% copper and 2.4 oz/T (82.3 g/t) silver.
About District Copper:
District Copper is a Canadian company engaged in the exploration for porphyry copper deposits in south-central British Columbia. The Company also owns the Eaglehead porphyry Cu-Mo-Au-Ag property in northern British Columbia, which has been optioned to Northern Copper Fox, and the Stony Lake gold project in central Newfoundland, which has been optioned to K9 Gold Corp.
Chris M. Healey, P.Geo., Chief Geologist and a Director of District Copper Corp., is the qualified person under NI 43-101 guidelines who is responsible for the technical content of this release, and consents to its release.
For further information, please visit www.districtcoppercorp.com to view the Company's profile or contact Jevin Werbes at 604-620-7737.
Jevin Werbes, President & CEO
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. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release is not for distribution in the United States or over United States newswires.
Cautionary Statement on Forward-Looking Statement
Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
In connection with the forward-looking information contained in this news release, District Copper has made numerous assumptions regarding, among other things: the geological advice that District Copper has received is reliable and is based upon practices and methodologies which are consistent with industry standards and the reliability of historical reports. While District Copper considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause District Copper's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the dimensions and shape of the mineralized areas may not be as estimated; the mineralization may not represent sediment hosted intrusion related style gold mineralization; uncertainties relating to interpretation of the outcrop sampling results; the geology, continuity, and concentration of the mineralization; the financial markets and the overall economy may deteriorate; the need to obtain additional financing and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals.
A more complete discussion of the risks and uncertainties facing District Copper is disclosed in District Copper's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and District Copper disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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