This news release corrects and replaces the news release issued earlier today (at about 7:00am ET, March 21st, 2022). It adds Chris M. Healey as a Qualified Person.
Vancouver, British Columbia--(Newsfile Corp. - March 21, 2022) - District Copper Corp. (TSXV: DCOP) ("District Copper", "District", or the "Company") is pleased announce the results and interpretation of a 19.3km deep penetrating Induced Polarization survey on its Copper Keg porphyry copper project located approximately 55 kms west of Kamloops British Columbia. The property covers approximately 3,272 ha and is located at the north end of the Guichon Creek batholith. Highlights of the program are:
- Two positive chargeability anomalies have been located.
- The largest anomaly is northwest trending, open ended, and measures 2,500m long by 1000m wide, hosted in Nicola Volcanics and the Guichon intrusive located on either side of the Barnes Creek Fault.
- The second positive anomaly is hosted in the Guichon Intrusive at the south end of the project, measures at least 1,500m long by 750m wide, and is open to the west.
- The largest chargeability anomaly exhibits a strong spatial correlation to the large area of intense argillic alteration and is interpreted to extend to the southeast under the Kamloops Group.
- The chargeability anomalies correlated with the two areas of coincident sporadic copper mineralization and intense argillic alteration defined by historical rock sampling programs.
The Company is also pleased to report that field data collection for the recently announced airborne magnetometer survey over the entire property has now been completed by Precision GeoSurveys of Langley, BC. Interpretation of the data, including a Magnetic Vector Inversion, is underway.
Mr. Jevin Werbes, President and Chief Executive officer of District Copper stated, "The IP survey has identified two large drilling targets that show a strong correlation to areas of copper mineralization and intense argillic alteration that exhibits a spatial association with the regional scale, Barnes Creek fault system. These results have better informed our understanding of the project by mapping the chargeability and resistivity signatures under the Kamloops Group cover rocks and will be incorporated into the project compilation when results of the airborne magnetic survey are received."
Induced polarization Survey
The IP survey consisted of four, 500m spaced, north-south oriented lines covering 19.3 kms, contracted to Quantec Geoscience who used their Titan 24 system. The survey was completed using the dipole-pole-dipole configuration utilizing a 100 m dipole spacing. The objective of the survey was to map the chargeability and resistivity signature associated with the two areas of intense argillic alteration and associated sporadic copper mineralization
The larger of the two chargeability anomalies is coincides with a large area of altered Nicola Volcanics and Guichon intrusives located along the trace of the Barnes Creek Fault. The chargeability signatures suggest that the Barnes Creek Fault and the intense argillic alteration could extend to the southeast under the Kamloops Group (see News Release dated March 14, 2022).
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., a Director of District Copper, is the Company's non-independent Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical information disclosed in this news release.
For further information, please visit www.districtcoppercorp.com to view the Company's profile or contact Jevin Werbes at 604-363-3506.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117557