#Mining Stock News
Alert: Kutcho Copper (TSXV: $KC.V) (OTC: $KCCFF) Expands High-grade Mineral Resources to 17.26
MT of Measured & Indicated at 2.61% CuEq1 and 10.71MT of
Inferred at 1.67% CuEq1; Outlines Additional Near Resource Targets
Vancouver
BC, March 4, 2019, (Investorideas.com Newswire) Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF)
(“Kutcho Copper” or the “Company”) is pleased to provide an updated mineral
resource estimate that will be used as the basis for its upcoming Feasibility Study
on its 100% owned Kutcho high grade copper-zinc project located in British
Columbia (“Kutcho Project”). The mineral resource estimate was prepared under
the direction of Robert Sim, P.Geo, with the assistance of Bruce Davis, PhD,
FAusIMM, by SIM Geological Inc. (SGI).
“We are pleased to announce an
updated mineral resource estimate for the Kutcho Project that incorporates the
significant work and new drilling conducted by Kutcho Copper during our first
full year of ownership. The updated mineral resource includes a substantial 84%
increase in inferred mineral resources compared to the 2017 resource estimate*.
In addition, there remains significant exploration potential between, below and
along strike from the existing mineral resources, providing further upside
opportunities to grow the size of the project. This expanded mineral resource
will form the foundation for the Feasibility Study, which is slated to be completed in Q2/Q3 2019”, stated Vince
Sorace, President & CEO of Kutcho Copper.
Kutcho
Project - Estimate of Mineral Resources
|
Class
|
Tonnes (000)
|
CuEq (%)
|
Cu (%)
|
Zn (%)
|
Au (g/t)
|
Ag (g/t)
|
|
Main Deposit
|
||||||
|
Measured
|
5,831
|
2.66
|
1.92
|
2.78
|
0.48
|
28.7
|
|
Indicated
|
9,003
|
2.20
|
1.62
|
2.13
|
0.40
|
29.2
|
|
Measured + Indicated
|
14,834
|
2.38
|
1.74
|
2.38
|
0.43
|
29.0
|
|
Inferred
|
1,902
|
1.98
|
1.31
|
2.16
|
0.48
|
29.7
|
|
Esso Deposit
|
||||||
|
Indicated
|
2,425
|
3.98
|
2.52
|
4.76
|
0.81
|
64.0
|
|
Inferred
|
1,025
|
2.30
|
1.60
|
2.23
|
0.52
|
41.4
|
|
Sumac
Deposit
|
||||||
|
Inferred
|
7,779
|
1.52
|
1.10
|
1.60
|
0.17
|
16.9
|
|
Combined –
All Deposits
|
||||||
|
Measured
|
5,831
|
2.66
|
1.92
|
2.78
|
0.48
|
28.7
|
|
Indicated
|
11,428
|
2.58
|
1.81
|
2.68
|
0.49
|
36.5
|
|
Measured + Indicated
|
17,259
|
2.61
|
1.85
|
2.72
|
0.49
|
33.9
|
|
Inferred
|
10,706
|
1.67
|
1.18
|
1.76
|
0.26
|
21.5
|
1. The estimates in the
table are considered to be amenable to underground extraction methods. The base
case cut-off grade is 1.2% CuEq based on the formula CuEq = (Cu% x 0.825)
+ (Zn% x 0.302) + (Ag g/t x 0.004) + (Au g/t x 0.262). Mineral
resources are not mineral reserves because the economic viability has not been
demonstrated.
2. Estimate assumes
Mining (underground) US $34.00/t, Processing US $18.00/t, US G&A $10/t,
copper price US $3.00/lb, zinc price US $1.25/t, gold price US $1350/oz, silver
price US $17.00/oz, copper payable recovery 82.5%, zinc payable recovery 72.5%,
silver payable recovery 45%, gold payable recovery 40%
3. Effective date of
resource estimate February 22nd, 2019
4. Inferred mineral
resources are considered too speculative geologically to have economic
considerations applied to them that would enable them to be categorized as
mineral reserves. There is also no certainty that these inferred mineral
resources will be converted to the measured and indicated categories through
further drilling, or into mineral reserves, once economic considerations are
applied.
5. Assumptions used to
derive the cut-off grades in order to meet the NI43-101 requirement for mineral
resource estimates to demonstrate “reasonable prospects for eventual economic
extraction”. The cut-off grades to be used in the upcoming feasibility study
may vary from those used to limit the mineral resources reported herein, as the
inputs to that study are determined. No inference is implied in the changes to
the assumptions used in the cut-off grade calculations from the prior mineral
resource estimates as to what will be used in the upcoming feasibility, as
those assumptions remain to be determined.
*Please see our website for the 2017
NI 43-101 Technical Report for previous mineral resource
Updated
Mineral Resource Metrics
·
38 new drill hole intersections
through the Main and Esso deposits utilized to update the new mineral resource
calculation (3 at Esso, 35 at Main);
·
2018 drilling successfully
delineated additional mineral resources along the down-dip edge of Main, which
remains open to further expansion; and
·
Drilling defined a large contiguous
body of Measured resources at Main (Figure
1).
“The
definition of an updated, robust and larger resource estimate is a significant
milestone for the Company”, stated Rob Duncan, COO for Kutcho Copper. “Based on
new drill hole data and an independent mineral resource estimation at Kutcho,
we have expanded the mineral resources at Kutcho and demonstrated potential for
further reserve growth in the upcoming Feasibility Study.”
Figure
1: Resources by category looking SW with Exploration Targets
High Priority Near Resource Targets
Four excellent targets exist on the Kutcho
project that are located between, below or along strike from existing mineral resources
(Figure 1). These targets represent
high probability drill areas that could result in significant accretive value
to the project;
1. The Main-Sumac Gap identifies a 400 m by 380m panel
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.
2. Open Down Dip: Significant portions of all three lenses
remain open down dip outside of current resources including over 36% of Main,
50% of Esso and 100% of Sumac.
3. The Esso-West Expansion target lies 300 m west of
the Esso deposit where 150m of a 1500 m long geophysical anomaly has been drill
tested. Drilling returned 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. (Off western edge of map)
4. Footwall Zone (FWZ) lies beneath the Main zone and
represents a stacked massive sulphide horizon that is open in all directions.
The last drill hole to the east and down dip intersected 1.5 m of 3.54% Cu,
6.94% Zn, 316.9 g/t Ag and 1.47 g/t Au in hole E057.
Mineral Resource Estimation Methodology
Qualified Person
Robert
Sim, P.Geo. Independent consultant to the Company and a Qualified Person as
defined by National Instrument 43-101 ("NI 43-101") has reviewed and
approved the contents of this news release related to the mineral resource
estimate. All samples were collected in accordance with industry standards.
Splits from the drill core samples were submitted to the ALS sample preparation
laboratory in Whitehorse, Yukon Territory, Canada, and then transferred to ALS'
laboratory in Vancouver, British Columbia, Canada for fire assay and ICP
analysis. The precision and accuracy of results is tested through the
systematic inclusion of standards, blanks and check assays. The mineral
resource estimate referenced in this press release was prepared in November 2018
by Robert Sim, P.Geo., an independent Qualified Person as defined by NI 43-101.
Kutcho's additional disclosure of a technical or scientific nature in this
press release has been reviewed and approved by Mr. Rory Kutluoglu, B.Sc,
P.Geo., Kutcho's Vice President of Exploration and Development, who serves as a
Qualified Person under the definition of National Instrument 43-101. In the
opinion of the QP, the mineral resource estimate reported herein is a
reasonable representation of the mineralization found at the Kutcho project at
the current level of sampling. The mineral resources were estimated in
conformity with generally accepted CIM Estimation of Mineral Resources and
Mineral Reserves Best Practices Guidelines (November 23, 2003) and is reported
in accordance with NI 43-101.
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.
Vince Sorace
President & CEO, Kutcho Copper Corp.
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”, “indicates”, “opportunity”,
“possible” 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, future prices of
copper and other metals, changes in general economic conditions, accuracy of
mineral resource and reserve estimates, the potential for new discoveries, the
potential to convert inferred resources to indicated or measured resources, the
potential to optimize the mine plan, 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
For further
information regarding Kutcho Copper Corp., please email Michael Rapsch, VP
Corporate Communications at mrapsch@kutcho.ca or visit our website at www.kutcho.ca.
Kutcho Copper Corp. |
717 – 1030 West Georgia Street | Vancouver, British Columbia |
Canada | V6E 2Y3
Telephone:
(604) 628-5623 | www.kutcho.ca
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