CopperCorp Resources (TSXV:CPER) has provided a significant update regarding its diamond drilling program at the Jukes Zone target area on the Razorback Copper-Gold-REE property in western Tasmania, Australia. The company has made notable progress with the completion of its first diamond drill hole, JDD001, at the Jukes prospect and has already begun drilling a second hole, JDD002. Both are part of an exploratory effort aimed at testing the depth extensions of copper and gold mineralization in the area.

The drilling program at Jukes is targeting a specific area where previous geological work had indicated potential for high-grade copper and gold mineralization. On September 18, 2024, the first hole, JDD001, was completed to a depth of 214 meters. The second hole, JDD002, is being drilled from the same pad, with a steeper angle compared to JDD001, in order to test for the possible extension of mineralization approximately 70 meters below the initial hole and about 120 meters beneath historical underground workings.

The geological logging of JDD001 indicates the presence of zones with chlorite-magnetite alteration rock and sulphide mineralization. However, full confirmation of the extent and grade of the mineralization is pending laboratory analysis of the core samples. Samples from the priority zone of the drill core, ranging from 71 to 146 meters, have already been sent to the lab, with the remaining portion of the hole set to be sampled and dispatched shortly. CopperCorp expects to receive assay results within two to three weeks and will provide further updates as more data becomes available.

The current drilling campaign at the Jukes prospect comprises two initial diamond drill holes, totaling approximately 400 meters. These drill holes are designed to explore the depth extensions of high-grade copper and gold mineralization that was recently sampled in the historical Jukes No. 3 Main Adit. The adit, an underground passage, yielded samples with results including 31 meters at 1.48% copper and 0.83 grams per tonne (g/t) of gold, with a high-grade intercept of 9 meters at 2.92% copper and 1.79 g/t gold. CopperCorp aims to test its theory that these high-grade zones are related to NNW-trending fault structures, particularly at their intersections with the NE-trending Jukes fault.

Depending on the results of the initial drilling, CopperCorp may extend the depth of the drill holes to explore deeper parts of the Jukes system. The company currently has permits to drill up to 1,320 meters from four different drill sites in the area. Ongoing exploration work, such as geophysical data reviews and surface sampling programs, may also influence the scope of the drilling program.

The Jukes prospect is located on CopperCorp’s Razorback Copper-Gold-REE property, which lies about 10 kilometers south of the Mt Lyell copper-gold mining camp, owned by Sibanye-Stillwater. Mt Lyell is one of Australia’s most well-known copper-gold mining camps, and CopperCorp’s proximity to this area enhances the potential significance of its findings at Jukes. Recent exploration by CopperCorp, including 3D inversion modeling of magnetic and gravity data, has indicated the presence of a vertically extensive, pipe-like magnetic feature at Jukes. This feature coincides with a residual gravity anomaly, which suggests that there could be structurally controlled mineralized pipes similar to those found in the Mt Lyell system.

The magnetic and gravity anomalies observed at Jukes are positioned adjacent to large fault structures, which are considered highly favorable for hosting mineralized bodies. These types of structures at Mt Lyell have previously been associated with large orebodies like the Prince Lyell and Western Tharsis deposits. These deposits are characterized by chlorite-magnetite-apatite-biotite alteration zones, which extend to significant depths. The geological features observed at Jukes bear similarities to these well-known ore systems, making it a promising target for future exploration.

Previous exploration at the Jukes prospect in the 1970s and 1980s included limited drilling below historical underground workings, yielding results such as an intercept of 13.4 meters grading 1.6% copper and 1.6 g/t gold from a depth of 61.6 meters in drill hole JP02. CopperCorp has followed up on this earlier work with recent channel sampling of the underground adits, which resulted in strong copper and gold grades. These findings indicate the potential for significant mineralization at depth, which CopperCorp is now investigating through its current drilling program.

The copper-gold mineralization at Jukes primarily occurs in the form of chalcopyrite, with some bornite, and is associated with intense chlorite-magnetite alteration. These mineralogical characteristics closely resemble those seen at deeper levels in the Mt Lyell system, further supporting the geological potential of the Jukes prospect.

CopperCorp Resources Inc. is actively focused on the exploration and development of its copper-gold-REE projects in western Tasmania, including the Skyline, AMC, and Whisky Creek properties, in addition to Razorback. The company has secured a solid financial position, with approximately CAD $4.0 million in working capital, as reported in its August 2024 financial update.