Vancouver, B.C., February 28, 2023. Kutcho Copper Corp. (TSXV: KC, OTCQX: KCCFF) (“Kutcho Copper” or the “Company”) is pleased to provide an overview of its explorations plans at its feasibility stage, high-grade copper-zinc Kutcho Project located in north-western British Columbia.
Vince Sorace, President & CEO of Kutcho Copper comments: “The Kutcho Project has not seen any significant exploration since 1990. The prospective mineralized horizons that host the existing deposits repeat three times across our land position and volcanogenic massive sulphide (“VMS”) deposits typically occur in clusters along favourable horizons. With three deposits already identified along the Main-Sumac-Esso horizon, the Project has the making of a substantive VMS district and has potential for discovery of completely new deposits.”
“We have a detailed regional exploration plan for the Kutcho Project that will involve an extensive geophysics program across the entire claim block. Previous VTEM surveys on select areas over the Project were only able to penetrate a few hundred meters below surface, while a 1983 gravity survey over the Main lens proved that the Kutcho massive sulphides produce a significant gravitational response. We intend to focus on gravity techniques and other improved remote sensing capabilities and new technologies, combined with existing data and interpretations, to generate compelling targets to be followed up with drill testing.”
Highlights of the planned program include (Figure 1):
- In depth assessment of the existing geophysical survey data with enhanced modelling techniques.
- An aerial gravity survey to cover the full project area with techniques that have improved significantly since 1983.
- Information from the gravity survey will aid in the interpretation of existing versatile time domain electromagnetic (“VTEM”) and total magnetic intensity (“TMI”) data.
- Detailed seismic will be used to follow up on potential additional VMS lenses prior to expedited drilling of priority targets.
- Combine all geophysical data, rock chip sampling, structural information, and exposure mapping to define priority drill targets.
- Hyperspectral logging of select drill core to capture alteration zonation and help map rock units hidden by intense alteration to provide vectors towards new mineralization.
The Kutcho Project encompasses ~90% of the prospective Kutcho Formation rocks east of Dease Lake, B.C. These prospective volcanic rocks are folded, repeating the favourable mineralized horizon that hosts the Main, Sumac and Esso VMS deposits three times within the Project boundary, including the areas hosting the known deposits.
The Main, Sumac and Esso deposits are all aligned and plunge at 15o to the west, with Main outcropping at surface and Esso occurring at approximately 400 m below the surface. The existing VTEM data does not penetrate deep enough to detect the Esso deposit but the proposed aerial gravity survey can investigate the highly prospective corridor west of and to depth, beyond the Esso deposit, where drilling in 1980 returned an intersection of 7.2m of 2.0% Cu, 5.2% Zn and 17g/t Ag in hole E094B3 (Figure 2)
Kutcho Copper has already identified target areas of interest from a review of available technical information, which targets will also be the focus of the planned geophysical program and include (see figure 3):
- Target 1 – the IRJ Northwest target was first identified as a conductor in a 1990 ground-based survey and was tested with two drill holes. The holes intersected intensely altered and weakly copper-mineralized intervals, as well as a thick sequence of altered lapilli tuff and ash. The size and strength of the alteration in both holes suggests a prospective target down dip that may be defined by gravity techniques.
- Target 2 – the IRJ Northeast target has been intersected by three holes drilled in 1990 that returned massive to semi-massive sulphide layers up to 1m thick that are associated with argillaceous material. Hole E017 returned ~3m of a stringer zone with an average of 20% pyrite that includes some massive bands, which assayed 7.3m of 0.27% Cu. The geochemical trends suggest that a hydrothermal vent area lies further east and exploration should focus on this area.
- Target 3 – This target is a significant VMS-type showing located on the flank of a felsic dome. A prospect pit was excavated and reached “mineralized bedrock” at a depth of 1.6 m, returning assays of 0.3% Cu, 0.1% Pb, 0.1% Zn and 7g/t Ag. Soil sampling defined a 400m x 500m cluster of strong Cu-Zn anomalies that are coincident with a strong, linear, chargeability anomaly. A Cu-Zn soil anomaly containing up to 0.15% Zn and 0.03% Cu occurs on the southwestern flank of the same rhyolite flow/dome complex that has not been drill tested either.
- Target 4 – B-C East is a 3.5km long conductor inferred to be overlain by 30m of silica exhalite. Host rocks comprise a narrow band of sericite schist with narrow lenses of massive pyrite and silica exhalite hosted in mafic rocks. Gravity surveys produced a broad and shallow response that suggests a diffuse zone of increased density that could indicate disseminated or stringer-style sulphide mineralization commonly associated with VMS deposits.
- Target 5 – The I-PC area is associated with cherts hosted in crystal lithic tuffs and is interpreted as a hydrothermal exhalative horizon. E024 and 90K16 are proximal drill holes which intersected alteration in lithic tuffs and massive to laminated pyrite with minor disseminated sphalerite and chalcopyrite, potentially indicating proximity to a productive VMS environment. This tuff unit occurs upstream from numerous rounded boulders of finely banded, sphalerite- and galena-bearing chert and exhalate, suggesting potential for a nearby sub-cropping VMS system.
- Target 6 – Esso West: The Esso West expansion target is represented by a geophysical anomaly extending 1,500m westward from the Esso deposit, with approximately only 150m (10%) of the anomaly being drill tested. This drilling returned several mineralized intercepts including 7.2m of 2.0% Cu, 5.2% Zn and 17g/t Ag in hole E094B3 (estimated true thickness of 6.12m), which lies 300m west of the Esso deposit. The 300m of prospective Kutcho horizon between hole E094B3 and the Esso deposit is untested by drilling, as is the further 1,000 m of prospective Kutcho horizon to the west of hole E094B3.
The technical or scientific information in this press release has been reviewed and approved by Andrew Sharp, P.Eng BC, FAusIMM, Chief Operating Officer for Kutcho Copper, who serves as a qualified person under the definition of National Instrument 43-101.
About Kutcho Copper
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 advancing permitting with the objective of getting to a positive construction decision.
President & CEO, Kutcho Copper Corp.
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 “plans”, “believes”, “estimates”, “potential”, “indicates”, and similar expressions, or that events or conditions “will”, “may”, “could” or “should” 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 timing, results and implications of the planned exploration programs, whether or not new deposits will be identified and, if so, whether such deposits will be permittable and economically feasible, 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, 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 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.
This news release includes historical information that has been reviewed by the Company’s geological team and qualified person. The Company’s review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. There is insufficient exploration on these prospects to define a mineral resource. It is uncertain if after additional exploration a mineral resource will be delineated. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results.