VANCOUVER, British Columbia, June 13, 2018 (GLOBE NEWSWIRE) — Kutcho Copper Corp. (TSXV:KC) (OTC:KCCFF) (“Kutcho Copper” or the “Company”) is pleased to announce the results of an extensive exploration targeting initiative on the Kutcho Project. The Kutcho team, with technical exploration geology experts Equity Exploration Consultants, have completed a comprehensive compilation and exploration targeting exercise across the Kutcho Project. Key criteria including prospective geology, anomalous surface geochemistry, geophysical characteristics and drill hole data comprised the basis for ranking target areas in preparation for field follow up and testing during the 2018 field season.
Over 25 exploration targets have been identified across the property and have been split into both near mine drill ready targets and greenfields opportunities (Figure 1). Of these, nine Tier 1 priority targets have been selected for field follow-up and are described below.
Near Mine Targets
- Target 1 – the Corefarm Creek target represents a geophysical anomaly extending 1500 m westward from the Esso Zone. Approximately 150 m of this anomaly has been drill tested, returning several mineralized intercepts including 7.2 m of 2.0% Cu, 5.2% Zn and ~17 g/t Ag in hole E094B3. There remains 300 m of untested Kutcho horizon between hole E094B3 and Esso, along with an additional 1000 m of untested horizon to the west of hole E094B3.
- Target 2 – the Main-Sumac Gap identifies a 400 m gap between the Main and Sumac lenses that is untested by drilling. A conductive geophysical anomaly coincides with the area and is 360 m long. K003, the most eastern hole to intersect the Sumac lens and located on the western margin of the gap returned 5.12 m of 1.29% Cu, 0.49% Zn and 7 g/t Ag.
- Target 3 – the FWZ lies beneath the Main zone. A historical estimate* conducted in 1979 returned 0.23 million tonnes grading 1.47% Cu, 5.5% Zn, 43.7 g/t Ag and 0.4 g/t Au. The FWZ is open to the east, where it currently ends on a 1.5 m intercept of 3.54% Cu, 6.94% Zn, 316.9 g/t Ag and 1.47 g/t Au in hole E057 and is also open at depth.
*A Qualified Person has not completed sufficient work to classify the historical estimate tabulated above as current mineral resources and the issuer is not treating the above mineral estimates as current mineral resources. The historical estimate is uncategorized and does not use the categories (“inferred”, “indicated” or “measured” mineral resource, or “probable” or “proven” mineral reserve) set out in Sections 1.2 and 1.3 of NI 43-101 as defined by the Canadian Institute of Mining, Metallurgy and Petroleum, are not compliant with the NI 43-101. The historical estimate is relevant to obtain a reference to mineral potential present on the property. The Company has not undertaken any verification of the historical data upon which the historical estimates are based on.
- Target 4 – the MCF lies at the east end of the Main Deposit and is coincident with a conductive VTEM geophysical anomaly and a Cu-Zn soil anomaly. Three historical holes (KC11215, 90K28 and E013) returned ~35 m of semi-massive sulphide while KC11215 intercepted long intervals of strongly altered lapilli tuff with 2-8% pyrite, trace chalcopyrite and sphalerite.
Figure 1: Kutcho project exploration targets is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/86974da2-d83c-4906-8948-8a0f3ad718d3
- Target 5 – the IRJ Northwest 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 and ash. The size and strength of the alteration in both holes suggests a prospective target down dip from prior drilling efforts.
- Target 6 – B-C East is a 3.5 km long conductor inferred to be overlain by 30 m 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.
- Target 7 – IRJ Northeast. Three holes drilled in 1990 returned massive to semi-massive sulphide layers up to 1 m in width and associated with argillaceous material. Hole E017 returned ~3 m of a stringer zone with an average of 20% pyrite that includes some massive bands, and which assayed 7.3 m of 0.27% Cu with a high sample of 0.45% Cu. The geochemical trends suggest that the hydrothermal vent area is further east and targeting should focus on this vector.
- Target 8 is described as 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, assaying 0.3% Cu, 0.1% Pb, 0.1% Zn and 7 g/t Ag. Soil sampling has defined a 400 x 500 m 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.
- Target 9 – the I-PC 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 show alteration in lithic tuffs and the presence of massive to laminated pyrite with minor disseminated sphalerite and chalcopyrite, indicating proximity to a productive VMS environment. This tuff unit has an apparent thickness of 70 m and occurs upstream from numerous rounded boulders of finely banded, sphalerite- and galena-bearing chert and exhalite.
Kutcho Copper will be aggressively following up on these nine target areas in the field in the coming month to prioritize and evaluate them for testing later in the season. In conjunction with these efforts, Kutcho Copper will also conduct an airborne geophysical VTEM survey over portions of the property that have not been covered by geophysical surveys in the past (Figure 1). A VTEM survey carried out in 2011 was highly effective at confirming known mineralization and identifying new anomalies for follow-up.
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 Exploration.
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) 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 “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 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, the potential that the exploration targets identified may not host significant mineralization; that any discoveries made may not be economic; 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.