- North Lake Zone confirms existence of Porphyry mineralization from surface to 173 meters “6 meters grading 0.23% copper starting at 2.9 meters.”
- Discovery of Area 74, new unexpected mineral zone of molybdenum “8 meters grading 0.10% molybdenum (0.16 MoS2 eq.) starting at 113.7 meters, including 7.5 meters grading 0.32% molybdenum (0.51% MoS2 eq.) starting at 113.7 meters.”
- 7km-long trend defined with Molybdenum Zone 74, Copper Porphyry at North Lake Zone, and carbonate style mineralization to the north at hole 84.
VANCOUVER, BC, January 23, 2023 (GLOBE NEWSWIRE) — Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF) (FWB: PP0) (“Alpha,” “Alpha Copper,” or the “Company”) a resource sector enterprise founded to create value through mineral exploration, technical development, and asset acquisition, and Eastfield Resources Ltd. (“Eastfield”) (TSX-V: ETF) are pleased to report on the 2022 fieldwork diamond drill program results at the Indata project located in central British Columbia.
Assay results are now available for 11 of the 13 holes completed to-date (2,140 meters), with samples from the final two holes currently in the lab undergoing analysis and anticipated shortly. MSALabs of Langley, BC completed the analytical determinations utilizing a multi element procedure that includes Aqua Regia digestion followed by inductive plasma (ICP) analysis and additionally a 30-gram gold fire assay using atomic absorption techniques. QC/QA protocols included submitting independent standards into the sample stream to augment laboratory standards.
Company CEO Mr. Darryl Jones comments, “First of all, I would like to reiterate the enthusiasm within Alpha Copper as a result of the exciting transition that occurred over the holidays. With the completed acquisition of Cavu Energy Metals, the Company now has a strong portfolio of advanced mineral projects in highly prospective districts. We are already putting plans together for a very active 2023 exploration season at several of our projects.”
“We are extremely pleased to provide assay results from our 2022 drill program at the Indata Project with results that validate our expectations across an outstanding 7km strike length.” Mr. Jones continues, “Additionally, we are excited to have stumbled upon a brand-new discovery of a molybdenum mineralized zone on the project. Our team is very familiar with molybdenum and have been closely following the global supply situation. Because of the demand for molybdenum, spot price activity has been quickly rising to current 14-year highs. We look forward to receiving the final two drill hole results as we continue to develop an increasingly promising asset overview.”
2022 Field Season Drill Results
Significant assay results from the program include drill hole IN22-82 that targeted the Lake Copper Zone and drill hole IN22-74 which discovered a brand-new molybdenum (“Mo”) mineralized system 5 kilometers to the south.
Figure 1: Drill location map on the Indata Project, in Central British Columbia
Drill Hole IN22-82 intersected 173.6 meters grading 0.23% copper starting at 2.9 meters including 28.9 meters grading 0.47% copper starting at 2.9 meters. It was drilled east to west and constitutes the northern boundary of the Lake Zone which remains open to the north beyond this point. Mineralization is hosted in andesitic to basaltic volcanic and subvolcanic diorite variably altered to chlorite, actinolite and biotite (high temperature). Significant intercept are as follows:
Table 1: Diamond Drill Assay Results from Lake Copper Zone during the 2022 Exploration Program at the Indata Project
Copper mineralization in the Lake Copper Zone occurs without other accessory metals in significant concentration. The open-ended footprint for the Lake Copper Zone now measures 900 meters by 400 meters.
Molybdenum Discovery in Drill Hole IN22-74 intersected 30.8 meters grading 0.10% molybdenum (0.16 MoS2 eq.) starting at 113.7 meters, including 7.5 meters grading 0.32% molybdenum (0.51% MoS2 eq.) starting at 113.7 meters. Mineralization occurs in a granitic intrusive capped by a gabbroic intrusive. Depth and lateral extent of the molybdenum mineralization, which occurs as disseminations and stockwork veins without significant copper, is unknown. The final sample in the hole returned 0.043% Mo. The discovery has been named “Area 74”.
Table 2: Diamond Drill Assay Results from the Molybdenum Discovery during the 2022 Exploration Program at the Indata Project
Hole IN22-84 tested a Carbonate Replacement Deposit (“CRD”) target located approximately 2 kilometers north of the Lake Copper Zone and 7 kilometers north of hole IN22-74. This hole intersected brecciated limestone to 71.3 meters followed by weakly molybdenum mineralized granite (Mo values to 275 ppm) to the end of the hole at 246.6 meters. The limestone was found to be consistently anomalous in the pathfinder elements arsenic and antimony with arsenic values to 402 ppm and antimony to 136 ppm. These results support the conclusion that this area, now named “the Dover Area” is permissive for both Carbonate Replacement Deposit (CRD) and Carbonate Hosted Precious Metal styles of mineralization.
The 2022 exploration program focused on porphyry copper related, and carbonate replacement (CRD) style mineralization. The discovery of a blind molybdenum system was not anticipated.
About the Indata Project
The Indata Project encompasses 3,189 hectares straddling the Mesozoic aged Quesnel Terrane on the east side and the Paleozoic aged Cache Creek group of rocks on the west. The project is immediately south of the Stardust-Kwanika Project being developed by Northwest Copper Corp., and 88 kilometres west of Centerra’s Mount Milligan Mine. The project is located in the prolific Quesnel Terrane, which hosts an abundance of porphyry copper-gold deposits such as Highland Valley, Mount Milligan, and the New Afton deposit.
Figure 2: Location of the Indata Project, with Inset Map of the District
This news release has been reviewed and approved by Mr. J.W. Morton, P. Geo., who is the Qualified Person (as that term is defined by NI 43-101) and takes responsibility for its technical content.
On Behalf of the Board of Directors,
CEO, President & Director
Alpha Copper Corp.
Contact Alpha Copper
Invictus Investor Relations
+1 (604) 343.8661
About Alpha Copper Corp (CSE: ALCU) (OTC: ALCUF) (FWB: PP0):
Alpha Copper Corp. is focused on contributing to the green economy by finding and developing copper resource assets in stable jurisdictions. The Company is positioned to earn a 60% interest in the Indata copper-gold project located in north central British Columbia and a 100% interest in the Okeover copper-molybdenum project located near the coastal community of Powell River, British Columbia. After the recent acquisition of CAVU Energy Metals, the Company holds an option to acquire 100% of the Star copper-gold porphyry project in the Golden Triangle of BC, as well as an option to acquire up to 70% of the Hopper copper-gold porphyry project in the southern Dawson Range copper-gold belt of the southwestern Yukon, and further includes the 100%-owned Quesnel Project in the middle of the Quesnel Trough, host to a number of alkalic copper-gold porphyry deposits running northwest across western British Columbia. For more information visit: https://alphacopper.com/.
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve 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. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.