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Copper North Mining Corp (2)
Symbol COL
Shares Issued 78,357,973
Close 2018-01-17 C$ 0.08
Market Cap C$ 6,268,638
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Copper North drills 50.2 m of 0.68% Cu at Carmacks

2018-01-17 21:47 ET - News Release

Dr. Harlan Meade reports

COPPER NORTH INTERSECTS 50.2 M OF 0.68% COPPER, 0.13 G/T GOLD, AND 1.95 G/T SILVER AT CARMACKS

Copper North Mining Corp. has released the final results of the 2017 drill program on the Carmacks oxide copper-gold-silver project, Yukon, Canada. Thirteen holes were drilled within zone 13, and two holes within zone 12 as infill and small stepouts to better define the mineralized zone and the boundary between the sulphide and oxide domains. Copper mineralization was intersected in all 15 holes.

Highlights of the assays in zone 13 include:

  • CN17-19: 50.2-metre true width of 0.68 per cent copper, 0.13 gram per tonne gold and 1.95 grams per tonne silver (sulphide);
  • CN17-20: 55.4-metre true width of 0.61 per cent Cu, 0.13 g/t Au and 1.84 g/t Ag (oxide transition to sulphide);
  • CN17-32: 32.3-metre true width of 0.68 per cent Cu, 0.18 g/t Au and 2.46 g/t Ag (oxide).

Zone 13 is located 1,100 metres south of the proposed open pit encompassing zones 1, 4 and 7. The mineralized zone has now been demonstrated by drilling to extend over a strike length of approximately 380 m. The 2017 stepout drilling has increased the known strike length of mineralization by approximately 70 metres beyond the limit of the 2015 drilling. Infill drilling has confirmed that the zone can reach widths of over 100 metres and that grade continuity is excellent between drill sections. The oxide cap of zone 13 shows a variable level of preservation but can extend vertically up to 85 metres.

The mineralization comprises oxide and sulphide copper mineralization hosted by a 65- to 75-degree east-dipping tabular body of foliated amphibolite and gneiss. The oxide zone contains malachite, azurite, chrysocolla and tenorite throughout the rock mass and as coatings on fracture surfaces. At the base of the oxide zone is a transition zone that contains disseminated and vein-hosted native copper mineralization. Below the transition zone is a sulphide zone with fresh chalcopyrite-bornite that is open to depth. The 50.19 metres of sulphide mineralization in drill hole CN17-19, grading 0.68 per cent copper, 0.13 g/t gold and 1.95 g/t silver, indicate the potential for sulphides to depth.

Zone 12 is located approximately 120 metres south of zone 13. Two stepout holes were drilled in zone 12, and a thin body of copper oxide mineralization was discovered. The gap between zones 12 and 13 has now been closed off. Both zone 12 and zone 13 have sulphide zones that are open to depth.

From zones 2000S, 13 and 12, there are 22 new drill holes that will be integrated in to a new geological model for each zone. An updated mineral resource estimate is anticipated in first quarter 2018.

Dr. Harlan Meade, president and chief executive officer, commented, "The exploration successes that we have had in 2017 continue to enhance the opportunity to expand Carmacks beyond the currently planned seven years of oxide mine life and potential to also process sulphide mineralization using other equipment and process."

Maps of the location of zone 2000S, zone 13 and zone 12 and the drill holes are available at the company's website. The maps provide an overview of the progress in expanding the mineralization in the three drill areas.

Zone 13 and 12 assay results are given in the attached table.

                                              ASSAY RESULTS                               

               From         To     Intersected      Estimated       Au      Ag           Acid-    Total Cu
Hole             (m)        (m)          width     true width     (g/t)   (g/t)    soluble Cu           (%)
                                            (m)            (m)                             (%)
Zone 13
CN17-19       42.67      67.00           24.33          20.83     0.01    0.42           0.15         0.21
CN17-19       85.35     147.80           62.45          50.19     0.13    1.95           0.04         0.68
CN17-19      160.00     167.85            7.85           6.63     0.17    2.04           0.04         0.57
CN17-20       57.04     118.87           61.83          55.39     0.13    1.84           0.22         0.61
Including     80.75     105.13           24.38          22.01     0.18    2.52           0.22         0.86
And           57.04      88.39           31.35          30.36     0.11    1.90           0.37         0.64
And           88.39     118.87           30.48          27.45     0.14    1.79           0.07         0.59
CN17-22       41.35      62.44           21.09          20.01     0.11    1.66           0.46         0.54
CN17-23       66.25     103.40           37.15          32.12     0.12    2.30           0.33         0.48
CN17-25       70.29      99.53           29.24          23.92     0.18    2.67           0.42         0.56
CN17-26       72.25      86.22           13.97          12.04     0.12    1.75           0.36         0.49
CN17-26       92.22     100.58            8.36            7.2     0.15    1.63           0.22         0.46
CN17-26      100.58     109.62            9.04           7.78     0.17    1.67           0.08         0.43
CN17-28       29.87      51.41           21.54           19.8     0.10    1.89           0.38         0.44
CN17-28        57.3      65.19            7.89           7.25     0.17    3.51           0.57         0.62
CN17-29       56.68       59.3            2.62            2.6     0.16    1.88           0.32         0.41
CN17-30          11      45.72           34.72          21.78     0.09    1.52           0.43         0.50
CN17-31        31.4       32.8             1.4           1.27     0.03    1.40           0.19         0.25
CN17-31       61.67         68            6.33           5.76     0.10    1.71           0.29         0.43
CN17-31       71.63      86.87           15.24          13.86     0.14    1.93           0.07         0.54
CN17-32       10.67      46.18           35.51          32.33     0.18    2.46           0.61         0.68
Including     24.14      30.14               6           5.46     0.36    3.63           0.93         1.03
CN17-33       35.59      38.31            2.72           2.39     0.10    1.30           0.32         0.38
CN17-36        28.5      34.58            6.08           6.03     0.09    1.23           0.31         0.39
Zone 12
CN17-34       12.19      13.21            1.02           0.96     0.13    1.10           0.41         0.51
CN17-34       16.17      18.29            2.12           2.05     0.21    2.50           0.59         0.70
CN17-35       10.35      13.87            3.52           3.43     0.24    3.85           0.73         0.88

Quality assurance/quality control

Quality assurance and quality control procedures include the systematic insertion of duplicate and standard samples into the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and were shipped straight to the preparatory laboratory of ALS Minerals in Whitehorse. All geochemical analyses were performed by ALS Minerals in North Vancouver. Total copper assays were performed by four-acid digestion with an AAS finish. Soluble copper assays were carried out by sulphuric acid digestion with an AAS finish. Gold was analyzed by a 30-gram charge fire assay with an AAS finish. Silver was analyzed by four-acid digestion and ICP-AES finish.

True widths were determined by construction of geological cross-sections along drill fences and interpretation of the bounding surfaces of the mineralized zones, and the width of the mineralized zone was measured perpendicular to the zone boundaries at the centre point of the intersection.

The technical information in this news release has been prepared, reviewed and approved by Dr. Harlan Meade, PGeo, the president and chief executive officer of Copper North, a qualified person within the meaning of National Instrument 43-101.

About Copper North Mining Corp.

Copper North is a Canadian mineral exploration and development company. Its assets include the Carmacks project, located in the Yukon, the Redstone property, located in the Northwest Territories, and the Thor property in British Columbia.

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