Vancouver, B.C., December 5, 2023. Kutcho Copper Corp. (TSXV: KC, OTCQX: KCCFF) (“Kutcho Copper” or the “Company”) is pleased to announce it has completed target generation over its entire prospective project package that already hosts three volcanogenic massive sulphide (“VMS”) copper-zinc deposits – Main, Sumac and Esso. The exploration package encompasses several high priority targets, as well as a suite of longer lead target areas. The Esso West target is the highest priority and has geophysical and geologic characteristics very similar to the Esso deposit, the highest grade of the three known deposits at Kutcho and lies immediately along strike to the west.
High Priority Targets:
- Esso West: 1,900 m strike by 500 m down dip coincident ZTEM¹, VTEM², magnetic, and seismic target that lies along strike to the west of the high-grade Esso deposit. Historical, drilling down dip, and at the eastern margin of the target returned an intercept of 7.2m @ 2.0% Cu and 5.2% Zn.
- Mother: 7.5 km long, partially coincident ZTEM and VTEM target. A total of four historical drill holes tested portions of the target and define a prospective geological environment for a potential VMS deposit, including surface rock chip samples that returned > 10% Cu, 0.10% Zn, 69 g/t Ag and 2.2 g/t Au over widths of 2.5 to 5cm.
- Far East: 3.5 km long, partially coincident ZTEM, VTEM and magnetic target. A total of four historical drill holes tested a 400 m strike length of the target and defined a prospective geological environment for potential VMS deposits, including anomalous copper and zinc values in syngenetic pyritic mudstones.
¹ZTEM is the Z-Axis Tipper Electromagnetic is a geophysical technique utilizing natural earth currents to image the subsurface three-dimensional distribution of apparent resistivity to depths exceeding one kilometer.
²VTEM is the “Versatile Time-Domain Electromagnetic” technique and is useful for detecting and discriminating between moderate to excellent conductors.
Vince Sorace, President & CEO of Kutcho Copper comments: “We are pleased to have completed this phase of our target generation at Kutcho. The collection of new ZTEM, VTEM, magnetic and seismic data has given our technical team the tools to unlock the full value of the generations of exploration data collected on the project. This work defined a land package that encompasses over 60 strike km of fold-repeated favourable stratigraphy that we have distilled down to three compelling high priority targets and two additional favourable trends. We are looking forward to drill testing the Esso West and Mother targets, as well as advancing field evaluation of the Cairn, Far East and Sumac Ridge trends, in 2024.”
The targets have been prioritized by their similarity to known mineralization, strength of geophysical signatures and strength of supporting information (drilling, mapping, soil sampling, chip sampling, stream sampling, etc.). The highest priority group all lie within the Kutcho upper formation, where known mineralization occurs, including the Main, Sumac and Esso deposits. These priority targets include Esso West, Mother, and Far East. The other targets are on interpreted fold-repetitions of the same productive time horizon with similar volcanic stratigraphy to the south of the main trend and are less well explored.
Esso West Target
The Esso West target covers an area of 1,900 m strike by 500 m down dip and is defined by a coincident ZTEM, VTEM, magnetic, and seismic anomaly that lies along strike and to the west of the high-grade Esso deposit. The target is bracketed by a total of five historic drillholes that consist of a combination of moderately to strongly sericite – pyrite altered quartz – crystals tuffs that correlate to the immediate hanging wall rocks to the Main, Sumac, and Esso deposits and sericite – pyrite altered lapilli tuffs, which are indicative of the foot wall sequence below the three known deposits. However, none of these holes directly tested the Esso West target. In addition, a fence of historical drillholes that were testing for the west extension of Esso mineralization struck the interpreted down dip eastern margin of the target and intersected semi-massive and massive sulphides in several holes and returned a best intercept of 7.2m @ 2.0% Cu and 5.2% Zn in E094B3. Esso West would be a key focus of planned drill testing during 2024.
*See news release dated February 11, 2021 for details of the Esso mineral resource estimate (“MRE”), including important required disclosures under National Instrument 43-101, as well assumptions, qualifications and exclusions used in preparing the MRE, cautionary language in respect of the inferred mineral resources and details of the Qualified Person responsible for the MRE. Additional information can be found in the Feasibility Study Technical Report dated effective November 8, 2021, which is intended to be read in its entirety.
Mother is a 7.5 km long, partially coincident ZTEM and VTEM target. A total of four historical drill holes have tested portions of the target and define a prospective geological environment for a potential VMS deposit. Two historical holes anchored on the western extents of the target intersected an interpreted felsic flow dome consisting of a combination of sericite altered quartz, quartz – feldspar and lapilli felsic tuffs similar to the setting of the Main, Sumac, and Esso deposits. Silica exhalates with jasperoid development, and bands of magnetite and semi massive – massive sulphides occur between felsic units. These exhalates returned surface rock chip samples that ranged from 2.3% to greater than 10% Cu, 0.04% – 0.10% Zn, 15 g/t – 69 g/t Ag and 0.3 g/t – 6.2 g/t Au over widths of 2.5 to 5cm. Two drillholes located 2 km and 5 km to the west of these holes intersected more distal felsic tuffaceous volcanic rocks and mudstones. The 2 km target segment between the felsic dome and distal basin mudstones is a prime environment for hosting potential VMS style mineralization. A preliminary ground program is planned for 2024, prior to drill testing the target.
Far East Target
Far East is a 3.5 km long partially coincident ZTEM and VTEM and magnetic target. A total of four historic drill holes have tested 400 m (or ~11%) of the strike length of the target and define a prospective geological environment for a potential VMS deposit where anomalous copper and zinc values in syngenetic pyritic mudstones occur between a combination of felsic crystal and lapilli volcanic tuffs. Discreet segments of the target are defined by VTEM and magnetic anomalies that are similar to those over the three known deposits. The far eastern end of the anomaly suggests the possibility of a new fold nose-type target.
Priority 2 targets present slightly different geologic environments to the known deposits. They are located in the Kutcho mid and lower formations which are yet to show significant results from exploration, however the strength of ZTEM/VTEM targets are compelling and additional field work is required to define drill targets.
These target areas include Sumac Ridge and Cairn. Sumac Ridge lies within felsic volcanic rocks in the footwall of the known mineralization in an area of tight folding. The area has significant pyrite in outcrop and only two drillholes, located over 1,600 m apart, have tested this multi – kilometer target.
Cairn is a new VTEM target, with supporting ZTEM, generated in 2023. This multi – kilometer target has only seen cursory mapping and reconnaissance rock sampling to date. A comprehensive ground exploration program is planned for 2024 to evaluate both the Sumac Ridge and Cairn targets.
There are several more ZTEM and VTEM targets on the Kutcho Property. As more is learnt through the planned 2024 program, these other targets will be re-evaluated and prioritized for further work.
The technical or scientific information in this press release has been reviewed and approved by Andrew Sharp, P.Eng. BC (Lic. No. 47907), FAusIMM, Chief Operating Officer for Kutcho Copper, who serves as a qualified person under the definition of National Instrument 43-101.
About Kutcho Copper Corp
Kutcho Copper Corp is a Canadian resource development company focused on expanding and developing the Kutcho high grade copper-zinc project in northern British Columbia. Committed to social responsibility and the highest environmental standards, the Company recently completed a feasibility study on the Kutcho project and is positioned to advance permitting with the objective of getting to a positive construction decision.
President & CEO, Kutcho Copper Corp.
For further information regarding Kutcho Copper Corp, please email firstname.lastname@example.org or visit our website at www.kutcho.ca.
Cautionary Note Regarding Forward-Looking Statements
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.
This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “looking forward”, “planned”, “potential”, “prospective” “targets” and similar expressions, or that events or conditions “will” or “would” occur. Although Kutcho Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the results of the geophysical programs and their ability to define targets, if any, and whether or not such targets represent mineralization of potential economic interest; the Company’s ability to fund follow-up drill testing of any targets identified and the results of such follow-up work. In respect of the Company’s feasibility study referenced herein, material risks and uncertainties include the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop the Kutcho project or its other projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the potential to convert inferred resources to indicated or measured resources, the potential to optimize the mine plan, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the Kutcho project and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Kutcho is a mineral exploration focused company and the Company’s Projects are in the mineral exploration stage only. The degree of risk increases substantially where an issuer’s properties are in the mineral exploration stage as opposed to the development or operational stage. Exploration targets and/or Exploration zones and/or Exploration areas are speculative and there is no certainty that any future work or evaluation will lead to the definition of a mineral resource.
This news release includes historical information that has been reviewed by Kutcho’s qualified person. Kutcho’s review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, Kutcho cannot directly verify the accuracy of the historical data, including (but not limited to) the procedures used for sample collection and analysis. Therefore, any conclusions or interpretations borne from use of this data should be considered too speculative to suggest that additional exploration will result in mineral resource delineation. Kutcho encourages readers to exercise appropriate caution when evaluating these data and/or results.
Historical drill core was geologically logged with lithologies identified and notable geological features recorded. Historical drill core was split in half (and in rare cases sawn in half) along sample intervals (lithology and mineralization dependent) generally less than 3 m. Chemical analysis was performed dominantly for base metals (Pb, Zn, Cu), and precious metal analysis (Au and Ag), and infrequently for and rarely for major elements and trace elements. Historically, different commercial laboratories were utilized. These lab facilities may or may not have had accreditation and in all cases accreditation (if applicable) pre-dated current ISO standards. Over that period, a variety of digestion and assay methods were used, including atomic absorption, fire assay atomic absorption, aqua regia atomic absorption and aqua regia ICP with varying detection limits. Reference materials (if any) were inserted at the analytical level and thus were unblind to the facility processing the samples.