02:46:15 EDT Mon 29 Apr 2024
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Stamper Oil & Gas Corp (2)
Symbol STMP
Shares Issued 14,558,934
Close 2024-03-27 C$ 0.09
Market Cap C$ 1,310,304
Recent Sedar Documents

Stamper releases NI 43-101 technical report for Redonda

2024-03-28 10:11 ET - News Release

Mr. Bryson Goodwin reports

NI 43-101 TECHNICAL REPORT AVAILABLE FOR REVIEW

Stamper Oil & Gas Corp. has released its National Instrument 43-101 technical report on the Redonda copper property. The full report can be accessed under the company's profile on SEDAR+.

Comments from president and chief executive officer Bryson Goodwin:

"I am delighted to share the NI 43-101 technical report with our committed investor base! Please feel free to review the entire report on SEDAR+. The Redonda copper project has continued to deliver high-grade returns, assays from 2023 exploration season demonstrated significant project-affirming intercept lengths.

"These high-grade intercepts not only enhance our comprehension of the underlying geology but also provide clear evidence, bolstering our commitment to further exploration endeavours.

"Of note are the rhenium returns.

"Rhenium is one of the rarest elements in Earth's continental crust; its estimated average crustal abundance is less than one part per billion. Rhenium is a metal that has an extremely high melting point and a heat-stable crystalline structure. More than 80 per cent of the rhenium consumed in the world is used in high-temperature superalloys, especially those used to make turbine blades for jet aircraft engines.

"I have included the following information to help shareholders view our results in a broader perspective.

"For a mine currently in production:

  • Typical cut-off 0.10 per cent acid soluable copper:
    • This is the number below which you do not consider copper to be recoverable.
  • Profitable production copper grade -- 0.17 per cent (as reported in 2022 with a price per pound low of $3.22);
  • Profitable production molybdenum -- 0.008 per cent.

"Copper is forecast to exceed $4 with many acknowledged experts predicting $5 by 2025. This gives a frame of production understanding so shareholders can fully digest the listed results. (A forecast is considered a forward-looking statement involving various risks and uncertainties. there can be no assurance that this will prove to be accurate, and actual results and future events could differ materially from those anticipated in this statement)."

About Redonda

The project comprises nine claims totalling 2,746.46 hectares and is located 40 kilometres northeast of Campbell River, B.C. Redonda is easily accessed with year-round regularly scheduled barge service out of Campbell River via Marinelink. Access from Redonda Bay is by five km of recently upgraded logging road. Logging is continuing and assures a well-maintained complex of forest service roads across the claims. Work proceeded in 2021 under a letter of support from the Klahoose First Nation within its traditional territory, and free use permit, drill permit and IP exemption from the Ministry of Energy, Mines and Low Carbon Innovation (EMLI).

The regional setting of the Redonda property is part of the Coast suture zone between the Wrangellia terrane and the Coast plutonic complex. In the claims area, Early Cretaceous dioritic intrusive rocks of the Coast plutonic complex have been intruded by at least three later intrusive units, including a quartz plug, previously interpreted wide hornblende dike which is locally brecciated over its 600-metre exposed length and several smaller feldspar dikes which cut dioritic rocks near the southwest margin of the previously interpreted hornblende-rich body. Higher concentrations of copper-molybdenum mineralization are closely associated with the hornblende dike, particularly in areas where it has been brecciated. The geological setting of the mineralization on the Redonda mineral claims share a number of features similar to those observed at the OKover copper-molybdenum porphyry deposit located 34 km to the southeast, north of Powell River and the Gambier copper deposit in Howe Sound.

About Stamper Oil & Gas Corp.

Stamper Oil & Gas is an energy-commodity-focused resource company, seeking to acquire interests in mineral and/or oil and gas resource properties focused on energy creation, storage or delivery. The company is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets.

We seek Safe Harbor.

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