- Coast Copper Corp. (TSXV:COCO) doubled the size of its Sully property to 108.52 square kilometres by staking and arms-length purchase agreements
- The Sully property in southeastern B.C. boasts noteworthy historical results and stretches from the north and the east of PJX Resources Inc.’s (TSXV:PJX) Dewdney Trail property
- With a deposit hosting silver, lead and zinc in its sediment, the property is within the Vulcan Tectonic Zone
- Coast Copper Corp. (TSXV:COCO) last traded at $0.055 per share
Coast Copper Corp. (TSXV:COCO) doubled the size of its Sully property to 108.52 square kilometres by staking and arms-length purchase agreements.
The Sully property in southeastern B.C. boasts noteworthy historical results and stretches from the north and the east of PJX Resources Inc.’s (TSXV:PJX) Dewdney Trail property where a new discovery of Sullivan-style base metal mineralization was made.
With a deposit hosting silver, lead and zinc in its sediment, the property is within the Vulcan Tectonic Zone that is host to the Sullivan, Republic, Rossland, Sheep Creek and Pend O’Reille Mining Districts.
Highlights from the newly acquired ground include:
- 1999 float sample 127613 returned 5.74 grams per ton (g/t) gold (Au), 1,710 g/t silver (Ag) and 22.2 per cent copper (Cu) east of the known Tiger mineral occurrence
- 1999 grab sample 127679 returned 1.68 g/t Au, 228 g/t Ag, 3.83 per cent Cu, 0.10 per cent lead (Pb) and 0.43 per cent zinc (Zn) south of the known Red Zone mineral occurrence
- 1974 chip samples returned 1.4 per cent Cu and 41 g/t Ag over 0.55 metres from trench 1 at the Jolly Molly mineral occurrence
- 1975 grab sample B-439 that returned 0.66 per cent Zn and talus samples returned up to 23.65 per cent Zn, 0.11 per cent Cu around the Jolly Molly mineral occurrence
- 1979 rock sample returned 1.31 per cent Cu, 0.06 per cent molybdenum (Mo) and dump sample returned 0.13 per cent Cu, 0.015 per cent Mo and 0.01 per cent tungsten (W) 4 around the Jolly Molly mineral occurrence
“We are pleased to have increased the size of our Sully Property in the historic Sullivan Mining Camp as it is prospective for both Sullivan-style massive sulphides and also copper, gold and molybdenum porphyries associated with Cretaceous aged monzonite and syenite intrusions,” Coast Copper’s CEO, Adam Travis, said in a news release. “Before PJX made their discovery of Sullivan-style mineralization on claims adjacent to ours, they also noted significant, intrusion related gold, copper and silver mineralization with values up to 15.59 g/t Au, 1.11 per cent Cu and 721 g/t Ag. Consequently, Coast Copper has acquired similar syenite intrusions on the geological trend to PJX’s property. While we remain focused on our Empire Mine property, we continue to complete strategic mineral property acquisitions in areas of interest. We look forward to completing our first field program at Sully in the coming weeks and following up on our new geological understanding of the area.”
Sitting at US$4.39/lb, the price of copper per pound has stretched its drop to four consecutive weeks of declines, following highs not seen in years just a month prior, as continued weak spots were highlighted in recent Chinese economic data.
Coast Copper’s exploration focus is on the optioned Empire Mine property on northern Vancouver Island, British Columbia, that covers three open-pit mines and two past-producing underground mines that yielded iron, copper, gold and silver.
Coast Copper Corp. (TSXV:COCO) last traded at $0.055 per share and its stock is up more than 10 per cent since this time last year.
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(Top image: Coast Copper Corp.)