Auracle Completes 3D Radar Modelling for CopperBank at Pyramid and San Diego Bay
VANCOUVER, BC / ACCESSWIRE / January 22, 2018 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE: CBK; OTC PINK: CPPKF; FRA: 9CP) announces the completion of a 3D radar model and report executed by Auracle Geospatial Science Inc. ("Auracle") for its two 100% controlled projects on the Alaskan Peninsula: Pyramid and San Diego Bay. Details from the Auracle study, including high resolution images, can be found in the Alaska Projects tab of the Company website www.copperbankcorp.com.
In the fall of 2017, the Company started discussions with Auracle and rapidly saw the benefits of a remote sensing study over its large Alaskan portfolio, approximately 26 by 13 kilometres in size. Auracle is a geospatial technology company that has developed a world-class system that transforms geospatial data captured from satellites, drones, and aircraft into high-resolution visual information about the earth. Auracle's technology and mapping suite combine radar and optical satellite data to penetrate vegetation, ground cover, water, ice, rocks, and soils.
Auracle built a 3D Radar Model defining surface and near surface structures over the prospective areas of the two projects totalling 250 square kilometres. Using its exclusive algorithms, Auracle extracted strike and dip measurements of the different interpreted structures and produced a series of maps including apparent resistivity, digital elevation model, and structure analysis. This new information will help CopperBank's technical team to design future exploration programs for both projects. The company intends to do diamond drilling at both Pyramid and San Diego Bay during the summer of 2018. The zones of high fracturing are of particular interest as they reflect ground preparation to mineralization and possible subjacent intrusion. The shallow dips of the structures will also be the object of field verification as this could have an impact on the resource model until now believed to be mainly vertical.
Gianni Kovacevic, CopperBank Executive Chairman, comments, "The new data will allow our technical team to better understand the control of mineralization within the vast colour anomaly present over the two projects. Zones of interest are standing out that have never been tested at depth. No drilling has ever occurred at the San Diego Bay Project. Future programs will be greatly assisted with the results fromAuracle's study."
David McLelland, CEO of Auracle Geospatial Science Inc. stated, "It was a pleasure to work with CopperBank on their very exciting Alaska projects. We believe that the new information derived from our Auracle System will play an important role in CopperBank's go forward exploration program." David McLelland goes on to explain that, "A fracture density model, derived from the CopperBank Alaska radar remote sensing, and used to explore for buried phenomena, revealed an annular pattern analogous to Mt.Ellen and Bingham Canyon radar fracture patterns. Our technology works at, near and under the Earth's surface so we can 'see' through things that no other technology can claim."
About Auracle
Auracle Geospatial Science Inc. is a private Canadian remote sensing and technology company that has developed an innovative and proprietary technology, "The Auracle System," that uses satellite data to penetrate surface and subsurface to build a comprehensive 3D geological model including everything from ground surface to true bedrock.
About Pyramid
The Pyramid project is located on private property with the subsurface controlled by The Aleut Corporation, an Alaska Native-owned corporation. Pyramid is a porphyry copper deposit containing a historical inferred mineral resource estimate of 122 million tonnes at 0.41% copper, 0.02% molybdenum, and 0.10 g/t gold (SRK, 2013) applying a 0.4% copper equivalent cut-off, divided into three main recognized zones: Main, North, and West. The mineralization is related to a multi-phased calk-alkaline intrusion, intruding sediments of Tertiary Age. The porphyry system is of a minimal extent of 1.5 km2, displays a leached cap, phyllic, propyllitic, and potassic alteration analogous to the other copper deposits of the Circum-Pacific Belt. The observed mineralization consists mainly in disseminations of chalcocite, chalcopyrite and local molybdenite and sulphide veinlets. Bornite, malachite and chrysocolla are also reported as accessory minerals.
About San Diego Bay
The San Diego Bay Prospect is a joint venture on a 100% basis between CopperBank and the Aleut Corporation, an Alaska Native corporation controlling the subsurface. The San Diego Bay prospect is typified by an extensive 40 square-kilometre area of strong hydrothermal alteration and intrusive rocks, consistent with an alteration halo over a porphyry system such as the adjacent Pyramid deposit, also controlled by CopperBank. All porphyry alteration facies have been described, including zones of potassic, advanced argillic and phyllic zones; a previous satellite imagery interpretation has identified widespread zones of high-temperature clay alteration. Strong anomalous precious and base metal values were collected by previous operators in few areas. A short visit in August has allowed CopperBank to verify punctually the lithologies and alteration reported historically. Interpretation suggests that San Diego Bay may represent a long lived thriving hydrothermal system.
The intrusive lithological facies observed are similar to the ones observed at the adjacent Pyramid deposit presenting a leach cap of variable thickness ranging from 10 to 100 meters and underlain by a supergene enrichment blanket. Cobbles of copper oxide mineralization have been identified by local Aleut shareholders on beaches adjacent to the alteration zone. Based on all the here listed observations, San Diego Bay presents an excellent potential for a significant Cu-(Au) porphyry deposit at depth combined with an excellent location, 5 kilometers away from a deep port over the Pacific Ocean.
For more information on CopperBank Resources visit the website at www.copperbankcorp.com. Brigitte Dejou, P.Eng. and Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this release.
CopperBank is a Canadian exploration mining company focused on energy-related metal exploration in The United States of America. The Company trades on the Canadian Securities Exchange - CSE - under the symbol "CBK."
On behalf of CopperBank Resources Corp.,
"Gianni Kovacevic"
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: gk@copperbankcorp.com
Website: www.copperbankcorp.com
Advisory Regarding Forward-Looking Statements
Certain information in this release constitutes forward-looking statements or information ("forward-looking statements") under applicable securities laws and necessarily involves risks and uncertainties. Forward-looking statements included herein are made as of the date of this news release and, except as required by applicable law, CopperBank does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Forward-looking statements relate to future events or future performance and reflect management of CopperBank's expectations or beliefs regarding future events. In certain cases, forward-looking statements can be identified by the use of words such as "plans," or "believes," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," or "be achieved" or the negative of these terms or comparable terminology. Examples of forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's ongoing review of its existing portfolio, the involvement of CopperBank in any potential divestiture, spin-out, partnership or other transactions involving the Company's portfolio assets, and the ability of the Company to complete any such transactions, the ability of CopperBank to enter into transactions that will ultimately enhance shareholder value, and potential future work or activities in respect of the Pyramid project or the Contact project. Although CopperBank believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to CopperBank. Forward-looking statements are based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include but are not limited to the Company's ability to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Such factors include, but are not limited to, the risk that the Company will not be able to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. Although CopperBank has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. For more information on CopperBank and the risks and challenges of its businesses, investors should review the continuous disclosure filings that are available under CopperBank's profile at www.sedar.com.
SOURCE: CopperBank Resources Corp.