Alpha Copper Announces Okeover Project Contract for 2000 Metre Diamond Drill Program
VANCOUVER, British Columbia, July 13, 2022 (GLOBE NEWSWIRE) — Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF) (FRA: PP0) (“Alpha,” “Alpha Copper,” or the “Company”) a resource sector organization founded to create value through mineral exploration and asset advancement, has executed a drilling contract to undertake an initial 2000 metre drill program at its Okeover copper-molybdenum project located in Western British Columbia, Canada.
Regional service provider Superior Diamond Drilling Inc. (“Superior”) located in Powell River, BC has been engaged to drill at Okeover’s highly accessible section of coastal British Columbia. Founded in 2005, Superior is an industry leader servicing the Yukon Territory and the Province of British Colombia. The company will embark on an initial 2000 metre diamond drill program designed to expand the North Lake Zone where a historic resource is targeted and represents just one of seven zones of mineralization on the property.
The Okeover (“Ok”) copper-molybdenum property encompasses 4,613 hectares (11,399 acres) located immediately north of the coastal City of Powell River, British Columbia. Since its discovery in 1965, Ok has been explored by several companies including Noranda Exploration, Asarco Exploration, Falconbridge Nickel Mines Ltd., Duval International Corporation, Lumina Copper Corp, and Eastfield Resources Ltd.
Located just forty-five minutes by car from Powell River, the deposits at the Okeover property share several commonalities with discoveries held by Island Copper located on Vancouver Island (BHP) and Quartz Hill Moly located on the Alaska panhandle (formerly Cominco American Inc., and now Teck Resources).
As previously noted, drilling to-date has always been shallow in nature and ended in mineralization. Alpha Copper aims to test the mineralization at-depth and also looks to extend the mineralized target body data as part of its efforts towards the completion of a National Instrument (N.I.) 43-101 technical report planned for 2023.
In July 2007, the company of record received the results from the first four drill holes of a seven hole program recently completed at the Okeover property. The reported drill holes were designed to expand the understanding of the current resources of the North Lake Zone. Hole OK-07-04, drilled near the western boundary of the North Lake Zone, intersected an aggregate intercept of 76 metres grading 0.34% copper, and 0.020% MoS2 including an intercept of 19 metres grading 0.42% copper, and 0.020% MoS2. Hole OK-07-04 was drilled adjacent to and beneath a hole completed in 1972 with much of the mineralized interval including the higher-grade section, occurring beneath the 1972 hole, which bottomed at a depth of 97 metres.
Hole OK-07-02, drilled 350 metres to the east of the area corresponding to the North Lake resource, intersected 23 metres grading 0.24% copper and 0.031% MoS2 at the bottom of the hole, thereby establishing that mineralization is very much open-ended to the east and suggesting that the North Lake Zone may be considerably larger than the previous 2006 estimate. In addition, molybdenum grades appear to be increasing to the east.
Historically, copper and molybdenum mineralization was discovered in creek bottoms in the central part of on the Okeover Property in 1965. Between 1966 and 1977, seven companies carried out several geological, geochemical and geophysical surveys, mechanical trenching and more than 14,000 metres of drilling. Companies working on the property included Noranda Exploration Company Ltd., Asarco Exploration Company of Canada Limited, Falconbridge Nickel Mines Ltd., Duval International Corporation, Granite Mountain Mines Ltd., Sierra Empire and Western Mines Ltd.
Drilling completed between 1966 and 1977 consisted of 13,831 metres of diamond drilling in 82 holes and 12 vertical percussion holes totalling 732 metres. Most of the diamond drill holes were inclined at 45° or less, and five were vertical holes. Average hole length was 169 metres and the deepest hole drilled was 363 metres in length. Average vertical depth tested was between 120 and 140 metres below surface. Vertical percussion holes were drilled to 61 metres depths. Readily available reports pertaining to drilling include only those of Western Mines Ltd. in 1974 and 1977. Original drill logs and analytical results for core and cuttings samples from all holes drilled between 1966 and 1977 were digitized in the late 1980s and this data were acquired on behalf of Eastfield Resources, a previous owner, in 2004.
Company CEO Darryl Jones notes, “We look forward to working with the drill team from Superior and in getting this initial program sampled and in the lab. All the data from the historic work has developed a compelling picture that our initial drill program should be able to substantiate. We hope to ultimately make a significant step towards generating an accurate workplan towards a positive technical report and clear indication of the path ahead. As always, we drill to unearth value and look forward to unlocking the potential for this exciting project.”
The Company is also pleased to announce it has entered into an investor relations agreement with GOLDINVEST Consulting GmbH (“GOLDINVEST”). GOLDINVEST will use www.GOLDINVEST.de, a portal for precious metals and mining stocks, to increase awareness of the Company in the German speaking financial community. Materials will include editorials, videos, and a company profile of Alpha. The agreement is for a period of six months beginning on July 1, 2022 and ending on November 30, 2022. The compensation payable to GOLDINVEST under the agreement is €48,000 and does not include options to purchase securities of the Company.
GOLDINVEST has an arms length relationship with the Company. The business address of GOLDINVEST is Rothenbaumchaussee 185, 20149 Hamburg, Germany. The email of GOLDINVEST is [email protected] and the phone number is 040-44195195.
This news release has been reviewed and approved by Mr. J.W. Morton, P. Geo., who is the Qualified Person within the context of NI 43-101 and takes responsibility for its technical content.
On Behalf of the Board of Directors,
CEO, President & Director
Alpha Copper Corp.
Contact Alpha Copper
Invictus Investor Relations
+1 (604) 343.8661
About Alpha Copper Corp (CSE: ALCU) (OTC: ALCUF) (FRA: PP0):
Alpha Copper is focused on contributing to the green economy by finding and developing copper resource assets in stable jurisdictions. The company is positioned to earn a 60% interest in the Indata copper-gold project located in north central British Columbia and a 100% interest in the Okeover copper-molybdenum project located near the coastal community of Powell River, British Columbia. For more information visit: https://alphacopper.com/.
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve 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. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
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