(TheNewswire)
April 14, 2020 – TheNewswire - The recent increase in the price of gold has caused management of Consolidated Woodjam Copper Corp. (TSXV:WCC), (“Woodjam Copper, the Company”) to comment on the exceptional gold potential of the Woodjam copper gold project. Woodjam, located in the Cariboo region of south central BC, has been 100% owned by Woodjam Copper since 2015 when Gold Fields (Johannesburg) converted its 51% interest in the project for a 19.9% interest in the company. The project encompasses 64,088 hectares (158,360 acres) and was most extensively explored between 2009 and 2015 by Gold Fields during which time 281 diamond drill holes totaling 95,309 meters were completed. In 2013 Gold Fields published NI 43-101 compliant resources for three zones: Southeast Zone, Deerhorn Zone and Takom Zone, and determined an additional resource for a fourth zone, Megabuck, in an internal study (the Megabuck resource was not published as a 43-101 compliant resource and is not discussed further in this update). The district scale porphyry system at Woodjam responsible for the five zones of mineralization that have now been discovered have two predominant characters: one being high-K calc-alkalic and copper sensitive (typified by the Southeast Zone) and the other being sub-alkalic and gold sensitive (typified by the Deerhorn Zone). The potential for further discovery is very high as several targets and resource extensions remain untested.
NI 43-101 resources prepared by Gold Fields and previously reported are as follows:
----------------------------------------------------------- |Inferred |Tonnes|Au |Cu |Metal |Metal | |Category |(Mt) |Grade |Grade|(Au, |(Cu, | | | |(Gpt) |(%) |Koz) |MLb) | |---------------------------------------------------------| |Deer horn (*2)|32.8 |0.49 |0.22 |516.2 |158.2 | |---------------------------------------------------------| |Takom (*2) |8.3 |0.26 |0.22 |68.2 |39.7 | |---------------------------------------------------------| |Southeast (*1)|227.5 |Not quoted|0.31 |Not quoted|1,541.9| -----------------------------------------------------------(*1 filed on Sedar, July 8, 2013, *2 filed on Sedar July 9, 2013):
Although gold was not quoted for the 43-101 Southeast Zone Resource it is nevertheless significant, as is indicated in hole SE 08-84 which intersected 201 meters grading 1.01% copper and 0.44 g/t gold including 33 meters grading 2.05% copper and 1.24 g/t gold. Other exemplary gold rich holes on the Woodjam property include: DH12-48 drilled in the Deerhorn Zone which intersected 264 meters grading 1.45 g/t gold and 0.26% copper including 58 meters grading 2.71 g/t gold, and 0.40% copper hole MB04-32 drilled in the Megabuck Zone which intersected 214 meters grading 0.81 g/t gold and 0.12% copper, and hole TF12-04 drilled in the Three Firs Zone which was stopped in mineralization grading 1.07 g/t gold and 1.13% copper.
J.W. (Bill) Morton, President
Consolidated Woodjam Copper Corp.
Contact: (604) 681-7913 or Toll Free: 888-656-6611
Consolidated Woodjam Copper Corp. (the “Company”) (TSX-V:WCC) trades on the TSX-V exchange and currently owns a 100% interest in the Woodjam project in British Columbia. Visit the Company’s website at: http://www.woodjamcopper.com
Forward Looking Statements: This news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Forward-looking statements in this release include statements regarding the timing of the date of any financing and exploration activity on the Woodjam Project. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. In addition to other factors and assumptions which may be identified in this press release, assumptions have been made regarding and are implicit in, among other things, the timely receipt of any required regulatory approvals. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
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.
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