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CR Capital Corp. Provides of 2018 Preliminary Exploration Results From the Coppercorp Property

by pmnationtalk on December 6, 20188 Views

TORONTO, Dec. 06, 2018 — CR Capital Corp. (TSX-V / CIT) (“CR Capital” or the “Company”) is pleased to announce the initial results from its 2018 surface field exploration program on its 100% owned Coppercorp Property acquired from Superior Copper Corporation on March 6, 2018. The property is situated in Kincaid, Ryan and Palmer townships of the Sault Ste Marie District, Ontario. This announcement is a follow-up to the news release dated March 16, 2018 discussing the discovery of anomalous copper, silver, gold and cobalt values from litho-geochemical samples obtained during an initial site visit in 2017 and reported in the 43-101 Technical Report filed under the Company’s SEDAR profile at www.sedar.com.

During the 2018 field season, CR Capital Corp. completed prospecting and surface rock sampling on the Coppercorp Property as a part of its initial surface exploration program. In total, during this program, 70 litho geochemical samples, obtained from outcrop, plus ten taken from angular boulders were gathered from the vicinity of selected known metal showings throughout the property. Completed evaluative prospecting and sampling focused on three main areas.

The first area was the Glenrock and STP Au (+-Cu-Co-Ag) occurrences hosted in Archean metavolcanic rocks spatially associated with Proterozoic felsic dykes and breccia bodies located in the southeastern part of the property. The second area was from a three km north-northwest trend along strike with the past-producer Coppercorp Mine, hosted in Proterozoic mafic volcanic rocks, towards the historic Mamainse Mine situated on the Lake Superior shore. The third area was from north northwest along strike with the Kincaid Copper Breccia where the recent building of logging roads has resulted in the revealing of a newly exposed copper mineralized occurrence.

Highlight of the program was the rediscovery and identification of exciting new gold occurrences west and north of the Glenrock main grid in grab samples which reported values of up to 13.4 g/t Au in an area which remains largely not drill-tested. The results also confirmed that the main grid of the Glenrock Showing remains open along strike to the west based upon a grab sample reporting 10.6 g/t Au and supported by historic drilling results. The average grade of the16 grab samples obtained in the Glenrock showing area is 3.24 g/t Au.

The results also confirmed the presence of high-grade Cu-Ag-Au values from the surface grab sampling of chalcocite mineral occurrences reporting up to 15.5% Cu, 51.7 g/t Ag, and 0.3 g/t Au along the north-northwest trend from Coppercorp Mine which remains essentially unexplored since the 1960s when the mine was in operation. In addition, during the October site visit, new Cu occurrences were discovered along the side of a newly built logging road 700 metres north northwest along strike from the Kincaid Breccia. Six composite grab samples of surface exposures over 40 metres along the road averaged 0.47% Cu with reported concentrations of up to 1.07% Cu.

In total, 37 litho-geochemical grab and composite grab samples from outcrop returned significant results which are tabulated as follows:

Location Surface Samples 2018 Assays
ppm Cu (wt%)
ppm Co g/t Ag g/t Au
Coppercorp Mine trend north northwest 1058101 1,110 96 2.1 0.048
Coppercorp Mine trend north northwest 1058102 939 81 3.1 0.033
Coppercorp Mine trend north northwest 1058103 889 78 3.1 0.260
Coppercorp mine trend north northwest 1058104 11,300 (1.13) 46 <0.5 0.049
Coppercorp mine trend north northwest 1058106 40,700 (4.07) 60 4.0 0.798
Coppercorp mine trend north northwest 1058107 57,900 (5.79) 41 16.2 0.415
Coppercorp mine trend north northwest 1058108 155,000 (15.5) 31 51.7 0.303
Coppercorp mine trend north northwest 1058109 26,200 (2.62) 48 8.5 1.92
Coppercorp mine trend north northwest 1058110 1,180 34 2.5 0.015
Coppercorp mine trend north northwest 1058111 11,300
(1.13)
2 <0.5 0.02
Coppercorp mine trend north northwest 1058141 22,900 (2.29) 42 3.0 9.80
Coppercorp Mine, B-Zone Chalcocite vein 1058158 45,400
(45.4)
<0.5 6.9 0.149
Glenrock Au-Cu main grid showing 1058115 429 53 <0.5 5.50
Glenrock Au-Cu main grid showing 1058116 106 65 <0.5 0.216
Glenrock Au-Cu main grid showing 1058117 940 110 0.9 0.049
Glenrock Au-Cu main grid showing 1058118 212 156 <0.5 0.067
Glenrock Au-Cu main grid showing 1058119 626 78 1.3 9.20
Glenrock Au-Cu main grid showing, west extension 1058148 701 212 0.7 10.6
Glenrock Au-Cu main grid showing, west extension 346670 48 75 0.6 2.90
Glenrock Au-Cu showing area northwest of main grid 1058149 1,340 126 0.9 0.238
Glenrock Au-Cu showing area northwest of main grid 1058150 496 89 0.8 13.4
Glenrock Au-Cu showing area north of main grid 1058151 1,470 136 <0.5 0.406
Glenrock Au-Cu showing area north of main grid 1058152 939 229 0.8 4.47
Glenrock Au-Cu showing area north of main grid 346671 745 196 1.0 4.58
STP Au Showing 1058130 160 336 1.7 3.47
STP Au Showing 346672 1,440 457 4.6 0.706
STP Au Showing 346673 8,360 694 5.4 1.39
Palmer Au Showing 1058153 139 14 <0.5 2.50
NNW of Kincaid Breccia, new road exposed occurrence, composite grab 1058163 2,460 17 0.5 0.022
NNW of Kincaid Breccia, new road exposed occurrence, composite grab 1058164 5,850 13 3.3 0.022
NNW of Kincaid Breccia, new road exposed occurrence, composite grab 1058165 757 11 2.7 0.022
NNW of Kincaid Breccia, new road exposed occurrence, composite grab 1058166 8,300 57 1.6 0.016
NNW of Kincaid Breccia, new road exposed occurrence, composite grab 1058167 847 6 1.0 0.011
NNW of Kincaid Breccia, new road exposed occurrence, composite grab 1058168 10,070
(1.07)
21 3.9 0.020
SSE of Kincaid Breccia, Roadside Cu-Co occurrence 1058173 2,020 46 <0.5 0.010
SSE of Kincaid Breccia, Roadside Cu-Co occurrence 1058174 2,440 1,540 0.7 0.11
Kincaid Breccia 1058177 7,770 74 <0.5 0.01

An Exploration Plan application, initially submitted to the Ontario Ministry of Energy, Northern Development and Mines in April, has been elevated by the ministry to an Exploration Permit application status and remains pending. An agreement to conduct basic surface exploration has been signed and activated with the Batchewana First Nation (BFN) and a consultation process is underway with the aboriginal community with the purpose of negotiating a more comprehensive Memorandum of Understanding to conduct subsurface exploration on the BFN traditional territory.

QA/QC

The collected rock samples for the site visit pertaining to this program were delivered directly by the Qualified Person or shipped by bonded carrier to the AGAT Laboratories facility in Mississauga, Ontario. The Qualified Person submitted one each of a blind Au-Ag and Cu-Ni-Co multi-element standards, plus a certified blank into each submitted batch. The submitted samples were prepared by crush to 90% passing 2mm, split to 250 gm and pulverize to 85% passing 75um (Method Code 200-002).

The samples were analyzed for gold at the AGAT Laboratories facility at Mississauga by Au by fire assay, ICP-OES Finish, 50g with a range 0.001 – 10 ppm (Method Code 202-552, gravimetric assay for over-limit >10 ppm Au samples), and for multi-element metals analysis by 4-Acid Digestion and ICP-OAS method finish with re-assay for over-limit >10,000 pm for Cu, Co and As and >10 ppm for Ag. The AGAT Mining Geochemistry Laboratory is accredited to ISO 17025 by the Standards Council of Canada (SCC).

The information in this press release has been reviewed and approved by Trevor Boyd, P. Geo., and a Qualified Person for the technical information under NI 43-101 standards.

For further information, please contact:

Mr. Brian Howlett, CPA, CMA
President & CEO
CR Capital Corp.
Cell: 647-227-3035

NT4

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