Vancouver, British Columbia – May 11, 2022 (Newsfile Corp.) (Investorideas.com Newswire) District Copper Corp. (TSXV: DCOP) (“District Copper”, “District”, or the “Company”) is pleased to provide shareholders the results of the Magnetic Vector Inversion (“MVI”) study on its recently completed high resolution, airborne magnetic survey on its Copper Keg porphyry copper project located approximately 55 kms west of Kamloops British Columbia (see news release dated March 29, 2022). The property covers approximately 4,235 ha and is located at the north end of the Guichon Creek batholith.
Precision GeoSurveys completed the MVI study to create a 3D susceptibility model from the magnetic data to identify potential areas of buried potential copper and gold mineralization. Highlights of the Magnetic Vector Inversion study are:
The Magnetic Vector Inversion study identified seven target areas for follow-up exploration.
Strong correlation of a buried intrusive within the Guichon Creek Batholith underlying the gossanous, argillic alteration associated with a positive chargeability anomaly and sporadic copper mineralization may indicate porphyry mineralization at depth.
The band of low magnetics intensity on the eastern side of the survey area, may be due to the absence of volcanic cover, hydrothermal alteration, or felsic intrusives.
Several deep and smooth, uniform, magnetic susceptibility lows located within the project could be caused by felsic intrusives.
The NNW trending structures yielded indications of magnetite destruction, typical of hydrothermal alteration,
The areas of high magnetic susceptibility in the southeast corner of the survey that do not have a topographic correlation are likely to be caused by intrusives.
Mr. Jevin Werbes, President and Chief Executive officer of District Copper, stated, “The results of the MVI study are consistent with the results of the previous exploration activities especially in the northern portion of the property where a positive chargeability anomaly is associated with advanced argillic alteration and sporadic primary and secondary copper mineralization. The study identified several previously unknown targets that are being incorporated into our planned 2022 surface program. Our next program is focused on mapping and prospecting all seven-target areas prior to selecting drill targets to improve drilling efficiency and chance of success.”
3D Magnetic Inversion
The unconstrained, Magnetic Inversion used the high resolution airborne magnetic and radiometric survey data flown over the Copper Keg project. Magnetic Inversion is a useful exploration technique utilized in locating buried stocks of typically felsic to intermediate composition that could be associated with porphyry style mineralization.
The University of British Columbia (UBC-GIF) 3D magnetic inversion program Mag3D, version 4.0, (Oldenburg, et.al., 1996) using the topography surface as model constraints along with the normal UBC-style objective function was used to complete the inversion. The unconstrained modelling does not produce definitive locations of deep magnetic sources but can be used as a general guide to look for deep sources.
The potassic core of porphyry intrusive systems are magnetic highs, which can be located at depth. The 3D susceptibility inversion assigns a depth to the magnetic source bodies, thus facilitating the identification of deep sources such as those associated with porphyry intrusives. The magnetic inversion was completed to a depth of 500 m below the surface, which is deep enough that near-surface high-susceptibility bodies should be significantly discounted.
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 targets outlined by the MVI study may not be associated with felsic intrusives porphyry style alteration or mineralization; the proposed surface program may eliminate these areas as potential targets for future exploration; the NNW trending structures may not contain indications of magnetite destruction typical of hydrothermal alteration; 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.
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