District Copper Announces Results of Airborne Survey on Copper Keg Property
Vancouver, March 29, 2022 - District Copper Corp. (TSXV: DCOP) ("District Copper", "District", or the "Company") is pleased announce the results and interpretation of a high-resolution helicopter-borne magnetic and radiometric survey flown over its Copper Keg porphyry copper project located approximately 55 kms west of Kamloops British Columbia. The property covers approximately 3,272 ha and is located at the north end of the Guichon Creek batholith. Highlights of the program are:
- The magnetic survey has identified two positive magnetic signatures exhibiting a spatial correlation to the two areas of coincident sporadic copper mineralization and anomalous chargeability (see news release dated March 21, 2022).
- A 2,000m wide by 3,000m long positive magnetic signature hosted in Nicola Volcanics and Guichon Creek intrusive rocks spans the Barnes Creek fault.
- The survey has identified a circular magnetic anomaly underlying, the Kamloops Group, the source/cause of which is unknown at this time. The data suggests that the late Kamloops Group is bounded on the north and south by NE trending structures.
- The positive magnetic signatures are interpreted to be due to the presence of magnetite related to the potassic phase of a porphyry copper system.
- Magnetic Vector Inversion of the magnetic data is in progress to locate late-stage intrusive bodies exhibiting positive magnetic signatures within the chargeability anomalies in advance of a drilling program.
Mr. Jevin Werbes, President and Chief Executive Officer of District Copper, stated, "The positive magnetic signatures, and chargeability anomalies identified to date show a strong correlation to areas of sporadic copper mineralization and intense argillic alteration that exhibits a spatial association with the regional scale Barnes Creek fault system. These results have better informed our understanding of the copper potential of the project and will be incorporated into the project compilation when results of the Magnetic Vector Inversion are received prior to selecting drill targets."
The survey was flown by Precision GeoSurveys Inc. located in Langley B.C., utilizing a 100 m line spacing on a heading of 178°/358°; tie lines were flown at 1000 m spacing on a heading of 088°/268°.
The geodetic system used for the geophysical survey was WGS 84 in UTM Zone 10N. A total of 360-line km was completed. After all data were collected, several procedures were undertaken to ensure that the data met a high standard of quality. Magnetic and radiometric data recorded by the AGIS were converted into Geosoft or ASCII file formats using Nuvia Dynamics software. Further processing was carried out using Geosoft Oasis Montaj 2021.2.1.11 geophysical processing software along with proprietary processing algorithms.
Chris M. Healey, P.Geo., Chief Geologist and a Director of District Copper Corp., is the qualified person under NI 43-101 guidelines who is responsible for the technical content of this release, and consents to its release.
About District Copper
District Copper is a Canadian company engaged in the exploration for porphyry copper deposits in south-central British Columbia.
For further information, please visit www.districtcoppercorp.com to view the Company's profile or contact Jevin Werbes at 604-363-3506.
Jevin Werbes, President & CEO
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 does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release is not for distribution in the United States or over United States newswires.
Cautionary Statement on Forward Looking Statement
Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward looking statements". Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
In connection with the forward-looking information contained in this news release, District Copper has made numerous assumptions regarding, among other things: the geological advice that District Copper has received is reliable and is based upon practices and methodologies which are consistent with industry standards and the reliability of historical reports. While District Copper considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause District Copper's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the dimensions and shape of the mineralized areas may not be as estimated; the mineralization may not represent sediment hosted intrusion related style gold mineralization; uncertainties relating to interpretation of the outcrop sampling results; the geology, continuity, and concentration of the mineralization; the financial markets and the overall economy may deteriorate; the need to obtain additional financing and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals.
A more complete discussion of the risks and uncertainties facing District Copper is disclosed in District Copper's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and District Copper disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118455