VANCOUVER, BC / ACCESSWIRE / April 10, 2018 / Kutcho Copper Corp. (TSX-V: KC) (OTC PINK: KCCFF) (“Kutcho Copper” or the “Company”) is pleased to announce that the Company has entered into an agreement by which it can earn a 100% interest in the TCS Property located in northern British Columbia, approximately 90 km from the Kutcho project and 16 km from Dease Lake.
Vince Sorace, President and CEO, stated, “The TCS property covers prospective Kutcho Formation rocks with defined Copper-Zinc anomalies which have never been drill tested and compliments the regional exploration work planned for the Kutcho project in 2018 and 2019. TCS has been acquired as a pipeline project and could have several future synergies as it is located proximal to the proposed haul road for the Kutcho project.”
The TCS property is underlain by the same Kutcho Formation rocks as found in the vicinity of the mineralized deposits at the Kutcho property. These include crystal bearing felsic volcanic rocks and aphyric felsic tuffs that may represent the same mineralized time horizon as at Kutcho. Alteration and mineralization at TCS consist of silica-sericite-pyrite alteration of felsic volcanic units with weakly anomalous geochemistry. Historic soil sampling defines a 600 m by 800 m Cu-Zn anomaly and is largely limited only by the presence of glaciolacustrine deposits. The TCS targets have never been drill tested. References to the Kutcho Formation rocks are for information purposes only and there are no assurances as to the similarity to the Kutcho project or that the TCS property will achieve the same results as the Kutcho project.
Kutcho Copper can earn a 100% interest in the TCS Property by making cash payments of $10,000 upon approval of the transaction, $15,000 at the first-anniversary date and a total balance of $120,000 over the proceeding 3 years of the option. In addition, the Company will issue up to a total of 150,000 shares over the 4-year term, subject to the approval of the TSX Venture Exchange. The TCS property will include a residual 2% NSR, of which 1% of the NSR can be bought for $500,000 on or before the first indicated resource estimate is published, for $750,000 on or before a PEA or more stringent economic study is published, and $1.25 million thereafter. Once the option is exercised, there will be annual advanced royalty payments of $10,000 for five years, doubling to $20,000 a year thereafter.
In addition, the Company has recently conducted additional claim staking that has increased the size of the project to approximately 50 km2 (5000 Ha). For more information regarding the TCS project please visit the company’s website at www.kutcho.ca
Qualified Person: Rory Kutluoglu, B.Sc. P.Geo., a Qualified Person as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Mr. Kutluoglu is the Company’s Vice President of Exploration & Development.
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 intends to progress the Kutcho Project through feasibility and permitting 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) accept 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 “expects”, “plans”, “anticipates”, “believes,” “intends,” “estimates,” “projects,” “potential,” and similar expressions, or that events or conditions “will,” “would,” “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 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 Kutcho 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 ability of Kutcho Copper to obtain the necessary permits and consents required to explore, drill and develop TCS and if obtained, to obtain such permits and consents in a timely fashion relative to Kutcho Copper’s plans and business objectives for the projects; the general ability of Kutcho Copper 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 Kutcho Copper’s management on the date the statements are made. Except as required by law, Kutcho Copper undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
SOURCE: Kutcho Copper Corp.