CopperCorp Resources Inc. press release

CopperCorp Intercepts High Grade Copper at Alpine Stellar Zone

2022-10-03

TSXV - TSX Venture Exchange · Copper · Gold · Rare Earth Elements · Silver · Canada

Vancouver, British Columbia--(Newsfile Corp. - October 3, 2022) - CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to report new assay results from seven diamond drill holes at the Alpine prospect, part of its 100%-owned, approximately 1,066km2AMC Copper Project located in the 100% renewable energy state of Tasmania, Australia.

Highlights

Significant mineralized intercepts from the recently received drill core assays include:

| Hole ID | Interval (m)1 | From (m) | Cu (%) | Co (ppm) | | AP030 | 26.2 | 85.8 | 0.53 | 191 | | And | 37.0 | 181 | 0.57 | 271 | | including | 10.0 | 185 | 1.20 | 488 | | And | 18.0 | 307 | 0.70 | 238 | | Including | 4.9 | 312.1 | 1.50 | 329 | | AP033 | 32.5 | 270.5 | 0.59 | 268 | | And | 82.2 | 347.3 | 0.33 | 102 | | including | 10.5 | 419 | 0.75 | 43 | | AP034 | 31.6 | 177.7 | 0.64 | 200 | | including | 5.0 | 187 | 2.06 | 308 |

1_Note that true widths are uncertain. Initial interpretation by the Company is that the copper mineralization is hosted in steeply dipping zones of mineralization implying true widths in the range of 70% to 95% of reported intervals. See full intercepts in Table 2._

High-grade intercepts, including 10.0m @ 1.2% Cuand 4.9m of 1.5% Cu in AP030,and 5.0m of 2.06% Cu in AP034, indicate the potential for accumulations of higher-grade copper within the larger Alpine Stellar target area, including to depth. These results continue to define multiple broad, sub-parallel dipping zones of mineralization at the Alpine Stellar zone with average copper grades in the 0.3% to 0.7% range. Recently completed deep drill holes AP035 and AP036 (assays pending) both successfully intersected intervals of significant visual copper sulphide1mineralization up to 200m below previous drill holes. Copper mineralization at the Alpine Stellar zone has now been defined over a strike length of 600m and to a depth of 400m from surface. The mineralization remains open at depth and along strike. A geological review of the Alpine Stellar zone has commenced ahead of finalizing 3D models that will be used to plan future extension drilling at the Stellar zone. The drill rig has been relocated to the Alpine West target, located approximately 500m along strike to the west from the Alpine Stellar zone. Drilling of AP037 has commenced on this previously untested target as the first hole of an initial scout drilling program comprising 4 diamond holes at Alpine West.

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_002full.jpg)

Figure 1. Plan map of the Alpine prospect showing completed drillholes and the drilling-defined mineralization footprint at the Stellar zone. Background imagery comprises greyscale first-vertical-derivative (1VD) magnetics overlain by semi-transparent psuedocolour inversion gravity model slice grid at 250m depth (below surface).

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_002full.jpg

Sean Westbrook, CopperCorp's Vice President of Exploration, commented:

"The recent drill results from Alpine Stellar zone have delivered strong copper intercepts over significant widths, and importantly, we are starting to see more high-grade intervals from drilling as our knowledge base develops and we vector towards the stronger parts of the Stellar system.

Encouragingly, recent drill holes AP035 and AP036, targeting depth extensions beneath previously drilled mineralization, have both intersected significant intervals of what we think is visible copper sulphide mineralization1. The team eagerly awaits the assay results from these holes, which will be reported once received and reviewed.

The Company is pleased to have commenced drilling at the Alpine West prospect which will represent the first ever drilling at this location, which is approximately 500m west along strike from the Stellar zone. Alpine West is an exciting target with the potential to significantly expand the mineralization footprint at Alpine.

In conjunction with the Alpine West drilling, the exploration team has commenced a geological review of the Stellar zone ahead of finalizing 3D geological models that will form the basis for the next round of drill planning at Stellar. As demonstrated by the recent drill results, the Stellar zone holds excellent exploration upside potential and future work programs will be designed to vigorously pursue this growth upside. In terms of a growth story, it is still early days for Alpine and as can be seen in the drill section figures, increased drill hole density has a marked positive impact on defining higher-grade mineralization zones at Stellar.

On a district scale, it is pertinent to note that the currently drilled Alpine prospect area covers less than 1% of the IOCG prospective Arthur Metamorphic Complex (AMC), which has a strike length of 100km and over which CopperCorp holds a dominant tenement position with 1066km2in granted tenements (see Figure 15). The Company has identified a pipeline of multiple regional copper and gold exploration target zones along and adjacent to the AMC trend and we look forward to reporting on these in the coming months. Field reconnaissance sampling was recently commenced over high priority regional targets with first assay results expected within 4 to 6 weeks."

Alpine Prospect Drilling Update The Company's first round of drilling at the Alpine Stellar zone is now complete, with a total of 16 diamond holes drilled for a total of 5,490m. The Stellar zone drill program comprised infill and step-out holes designed to test the extent and continuity of the mineralizing system and investigate vectors towards targeting high-grade portions of the system.

The drill rig has now moved 500m to the west (the Alpine West zone) and commenced drilling of hole AP037 (Figure 1) targeting a combined magnetic-gravity anomaly and coincident copper in soils anomalous zone interpreted to be a possible strike extension to the Alpine Stellar zone mineralization (refer to previous news release dated April 27, 2022 for further details on the Alpine West target).

New assay results from 7 drill holes AP028, AP029, AP030, AP031B, AP032, AP033 and AP034 have been received and reviewed. Most holes were successful in intersecting zones of significant copper mineralization (Table 2).

AP028, drilled to 459.9m total length, was designed to test strike extensions to the east of mineralization encountered in hole AP027A (see news release dated June 8, 2022). The drill hole successfully intercepted three zones of copper mineralization, including 7.0m @ 0.46% Cufrom 55.1m, 20.0m @ 0.51% Cufrom 248m, and 64m @ 0.26% Cufrom 296m (Figure 6). The upper zone, representing an interpreted eastern extension of the hanging wall magnetite-pyrite-siderite lens, had a lower faulted contact which supports the interpretation of a structurally controlled eastern boundary to the hanging wall lens in this area of the system.

AP029, drilled to 247.0m total length on the same section as AP028, was designed as an infill hole testing mineralization between AP0062and AP027A5. The drill hole successfully intercepted magnetite-pyrite-siderite ironstone hosted and disseminated, blebby and vein style mineralization returning an intercept of 71.0 @ 0.38% Cufrom 133m (Figure 6, see mineralized drill core example in Figure 7).

AP030, drilled to a total length of 364.0m, was drilled as an infill hole between historical drillholes AP0062,4and AP0132,4. AP030 (Figure 8) successfully intersected multiple zones of mineralization, including 26.2m @ 0.53% Cufrom 85.8m, 37.0m @ 0.57% Cufrom 181.0m including a high-grade zone of10.0m @ 1.2% Cufrom 185.0m, 8.0m @ 0.25% Cufrom 240m, 18.0 @ 0.70% Cufrom 307.0m including a high-grade zone of 4.9m @ 1.5% Cufrom 312.1m (see example of high-grade drill core in Figure 9).

AP031B, drilled to 424.0m total length, and AP032, drilled to 328.0m total length, were both designed to test for eastern strike extensions of the Stellar zone mineralization. Both holes intersection narrow zones of low to moderate grade copper mineralization including; AP031B: 7.0m @ 0.44% Cufrom 227.0m and 4.1m @ 0.34% Cufrom 386.0m; and AP032: 6.0m @ 0.13% Cufrom 122m, 3.7m @ 0.57% Cufrom 136.3m, and 26.0m @ 0.11% Cufrom 228.0m. A northwest trending fault (the Duck Creek Fault - Figure 10) is currently interpreted to be truncating or offsetting the eastern extension of the Stellar zone in the vicinity of AP031B and AP032.

AP033, drilled to 429.5m total length, was designed to test down-dip extensions to mineralization encountered in holes AP027A5, AP0172,4, AP0112,4and AP0042,4(Figure 3). The drill hole successfully intercepted two zones of mineralization, including 32.5m @ 0.59% Cu from 270.5m, and 82.2m @ 0.33% Cufrom 347.3m to end of hole (EOH) including 10.5m @ 0.75% Cu from 419.0m to EOH. The AP033 results extend copper mineralization by approximately 60m down-dip of hole AP017 (24.7m @ 0.52% Cu from 222m) and 240m down-dip of hole AP004 (38.2m @ 0.79% Cu from 57.7m4, including 28.2m @ 1.03% Cu from 58.7m4). AP033 ended in high-grade disseminated, blebby and vein style copper mineralization grading 0.75% Cu over the final 10.5m of the hole but unfortunately the hole had to be terminated due to technical issues associated with fault zones in the upper parts of the hole.

AP034, drilled to 460.0m total length on the same section as AP033, was designed as an infill hole (Figure 3). The hole successfully encountered multiple zones of mineralization, including 31.6m @ 0.64% Cu from 177.7m(including5.0m @ 2.06% Cu from 187.0m - see examples of high-grade drill core in Figures 4 and 5), 9.0m @ 0.42% Cu from 258.0m, 19.0m @ 0.23% Cufrom 285m, 76.0m @ 0.23% Cu from 322m, and 3.0m @ 0.24% Cu from 452m.

AP035(assays pending), drilled to 447.8m total length, was designed to test down-dip extensions to mineralization encountered in hole AP0244(including 42.1m @ 0.60% Cu from 55.9m, 6m @ 0.96% Cu from 133m, and 43m @ 0.33% Cu from 157m4). AP035 successfully intercepted variably chalcopyrite1mineralized ironstone (magnetite-pyrite-hematite-siderite) zones at 217.2 to 232.5m and 241.5 to 255.4m depth down hole (see drill core example in Figure 11), and then intermittent trace to disseminated, blebby and stringer vein style chalcopyrite mineralization zones associated with quartz-siderite alteration and veining to 430.7m downhole (see drill core example in Figure 12). AP035 was terminated due to technical issues associated with a +5m wide graphitic shear zone from 442.4m.

AP036(assays pending), drilled to 600.1m total length, was designed to test for possible northeast strike extensions to the Stellar zone mineralization at depth below hole AP030 (see above). AP036 successfully intercepted variable intensity (trace to moderate) disseminated, blebby and vein style chalcopyrite1mineralization zones associated with quartz-siderite alteration and veining from 334.8m to end of hole with zones of chalcopyrite mineralized ironstone (magnetite-pyrite-hematite-siderite) at 336.8 to 341m and 394.3 to 415.2m down hole (see mineralized drill core examples in Figures 13 and 14).

1Note: The Company cautions that with respect to any visible chalcopyrite (copper sulphide) or other visual mineralization indicators, such as the occurrence of other sulphide or oxide minerals, visual observations and estimates are uncertain in nature and should not be taken as a substitute for appropriate laboratory analysis. Laboratory assay results will be reported when they have been received, validated, and interpreted.

Future Program As the drilling proceeds into the Australian summer the Company will continue to drill the Alpine West zone whilst awaiting the assay results from drill holes AP035 and AP036 from the Alpine Stellar zone. A geological review of the Alpine Stellar zone has commenced ahead of finalizing 3D geological models that will form the basis for the next round of drill planning at Alpine Stellar zone.

In addition to the ongoing exploration work at the Alpine prospect, the Company has commenced field reconnaissance sampling at priority regional exploration target areas within the AMC project and is in the process of planning a maiden drill campaign at the Dora prospect within the Skyline Project6,7(refer to the Company's news release dated September 21, 2022 and the recently filed NI 43-101 Technical Report7for more information on the Skyline Project).

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_003full.jpg)

Figure 2. 3D plan map of the Alpine prospect showing completed drillholes, interpolated copper grade shells, and section lines.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_003full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_004full.jpg)

Figure 3. Drill section A-A' (looking northeast) showing results from drill holes, including recent holes AP033 and AP034 at the Stellar zone, Alpine prospect. Significant intervals are reported as downhole lengths.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_004full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_005full.jpg)

Figure 4. Photo drill core from hole AP034 (189.1-193.6m), part of the magnetite-pyrite-hematite-siderite hosted high-grade intercept, 5m @ 2.06% Cu from 187m.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_005full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_006full.jpg)

Figure 5. Close-up photo of chalcopyrite mineralization in drill core from hole AP034 (189.7m), part of the magnetite-pyrite-hematite-siderite hosted high-grade intercept, 5m @ 2.06% Cu from 187m.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_006full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_007full.jpg)

Figure 6. Drill section B-B' (looking northeast) showing results from drill holes AP028 and AP029 at the Stellar zone, Alpine prospect. Significant intervals are reported as downhole lengths.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_007full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_008full.jpg)

Figure 7. Photo of drill core from hole AP029 (194.2-198.8m), showing typical disseminated, blebby and vein style sulphide mineralization associated with silica-siderite alteration and veining.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_008full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_009full.jpg)

Figure 8. Drill section C-C' (looking northeast) showing results from drill holes, including recent hole AP030 at the Stellar zone, Alpine prospect. Significant intervals are reported as downhole lengths.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_009full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_010full.jpg)

Figure 9. Photo drill core from hole AP030 (189.2-193.8m), part of the magnetite-pyrite-hematite-siderite hosted high-grade intercept, 10m @ 1.20% Cu from 185m.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_010full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_011full.jpg)

Figure 10. 3D view (looking north) of Alpine Stellar zone copper grade interpolation shells.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_011full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_012full.jpg)

Figure 11. Photo of drill core from hole AP035 (245.4-248.9m), showing chalcopyrite mineralized magnetite-pyrite-hematite-siderite rock. Assays pending.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_012full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_013full.jpg)

Figure 12. Photo of drill core from hole AP035 (406.3-410.7m), showing typical disseminated, blebby and vein style sulphide mineralization associated with silica-siderite alteration and veining. Assays pending.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_013full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_014full.jpg)

Figure 13. Photo of drill core from hole AP036 (394.5-399.2), showing chalcopyrite mineralized massive magnetite-pyrite-hematite-siderite rock. Assays pending.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_014full.jpg

[](https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_015full.jpg)

Figure 14. Photo of drill core from hole AP036 (399.2-403.8), showing chalcopyrite mineralized massive magnetite-pyrite-hematite-siderite rock. Assays pending.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8950/139188_726cbf72646bc8b6_015full.jpg

Drill Hole Location Data

| Drillhole ID | Easting GDA94 | Northing GDA94 | mRL | Final Length (m) | Dip | Azimuth | Company | | AP028 | 341440 | 5376710 | 185 | 459.9 | -60 | 340 | CopperCorp | | AP029 | 341380 | 5376835 | 175 | 247 | -60 | 340 | CopperCorp | | AP030 | 341525 | 5376815 | 185 | 364 | -60 | 340 | CopperCorp | | AP031B | 341580 | 5376840 | 195 | 424 | -60 | 340 | CopperCorp | | AP032 | 341560 | 5376920 | 196 | 328 | -57 | 310 | CopperCorp | | AP033 | 341425 | 5376605 | 191 | 429.5 | -68 | 340 | CopperCorp | | AP034 | 341425 | 5376605 | 191 | 460 | -53 | 340 | CopperCorp | | AP035 | 341330 | 5376530 | 180 | 447.8 | -64 | 340 | CopperCorp | | AP036 | 341650 | 5376750 | 193 | 600.1 | -65 | 300 | CopperCorp | | AP037 | 340535 | 5376510 | 155 | In-progress | -56 | 340 | CopperCorp |

_Table 1. Alpine prospect CopperCorp drill hole location and summary data (this news release).

_

Significant Mineralized Intervals (0.1% Cu cut-off)

| Prospect | Hole Number | From (m) | To (m) | Interval (m) | Cu (%) | Co (ppm) | | Alpine | AP028 | 55.1 | 62.1 | 7 | 0.46 | 241 | | And | 248 | 268 | 20 | 0.51 | 225 | | | And | 296 | 360 | 64 | 0.26 | 73 | | | Alpine | AP029 | 133 | 204 | 71 | 0.38 | 168 | | Alpine | AP030 | 85.8 | 112 | 26.2 | 0.53 | 191 | | And | 181 | 218 | 37 | 0.57 | 271 | | | Including | 185 | 195 | 10 | 1.20 | 488 | | | And | 240 | 248 | 8 | 0.25 | 172 | | | And | 307 | 325 | 18 | 0.70 | 238 | | | Including | 312.1 | 316.5 | 4.9 | 1.50 | 329 | | | Alpine | AP031B | 227 | 234 | 7 | 0.44 | 258 | | And | 386 | 390.1 | 4.1 | 0.34 | 183 | | | Alpine | AP032 | 122 | 128 | 6 | 0.13 | 73 | | And | 136.3 | 140 | 3.7 | 0.57 | 245 | | | And | 228 | 254 | 26 | 0.11 | 40 | | | Alpine | AP033 | 270.5 | 303 | 32.5 | 0.59 | 268 | | And | 347.3 | 429.5 (EOH) | 82.2 | 0.33 | 102 | | | Including | 419 | 429.5 (EOH) | 10.5 | 0.75 | 43 | | | Alpine | AP034 | 177.7 | 209.3 | 31.6 | 0.64 | 200 | | Including | 187 | 192 | 5.0 | 2.06 | 308 | | | And | 258 | 267 | 9.0 | 0.42 | 209 | | | And | 285 | 304 | 19.0 | 0.23 | 150 | | | And | 322 | 398 | 76.0 | 0.23 | 88 | | | And | 452 | 455 | 3.0 | 0.24 | 113 | |

_Table 2: Alpine Stellar zone prospect significant drillhole mineralized intercepts reported in this news release. Reported grades are calculated as down-hole length weighted averages. A 0.1% Cu lower cut-off grade is applied. Intercepts are downhole intervals.

_

Stephen Swatton, President and CEO of CopperCorp, commented: "I am highly encouraged - with receipt of these latest assay results we can visualize the start of the build-out of an extensive copper mineralized zone where neither the depth nor the strike extent has been cut off by drilling to date. The geological district in the vicinity of Alpine is fertile as evidenced by many past and currently operating multicommodity mines (see Figure. 15) further adding to the appeal of discovering a possible new resource in a region which already has good infrastructure, abundant power, skilled labour and a supportive local government."