CopAur Reviews Kinsley Mountain Oxide Gold Production History and Evaluates Restarting Production
CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF) has provided a summary of historic gold mining activities at its Kinsley Mountain Gold Project in Elko County, Nevada. The project, a past producer that yielded 138,000 ounces of open-pit gold between 1995 and 1997, hosts current mineral resources that CopAur is working to upgrade and expand. These resources include 418,000 indicated ounces gold at 2.63 g/t and 117,000 inferred ounces gold at 1.51 g/t.
CopAur acquired the project in 2022 and has since completed over 20,000 metres of drilling in 59 holes, focusing on the Main Pit North area. Recent intercepts have yielded high-grade results, prompting the company to explore the idea of restarting production. CopAur is now updating the resource estimate, conducting engineering studies, and engaging in permitting processes for potential new production.
CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF) ha fornito un riepilogo delle attività storiche di estrazione dell'oro presso il suo Kinsley Mountain Gold Project nella contea di Elko, Nevada. Il progetto, un produttore passato che ha estratto 138.000 once d'oro in superficie tra il 1995 e il 1997, ospita risorse minerarie attuali che CopAur sta lavorando per aggiornare ed espandere. Queste risorse comprendono 418.000 once indicate d'oro a 2,63 g/t e 117.000 once inferite d'oro a 1,51 g/t.
CopAur ha acquisito il progetto nel 2022 e da allora ha completato oltre 20.000 metri di perforazione in 59 fori, concentrandosi sull'area Main Pit North. I recenti risultati di perforazione hanno fornito risultati ad alta gradazione, spingendo l'azienda a esplorare l'idea di riavviare la produzione. CopAur sta ora aggiornando la stima delle risorse, conducendo studi ingegneristici e impegnandosi nei processi di autorizzazione per una potenziale nuova produzione.
CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF) ha proporcionado un resumen de las actividades históricas de minería de oro en su Kinsley Mountain Gold Project en el condado de Elko, Nevada. El proyecto, que fue un productor en el pasado y que produjo 138,000 onzas de oro a cielo abierto entre 1995 y 1997, alberga recursos minerales actuales que CopAur está trabajando para actualizar y expandir. Estos recursos incluyen 418,000 onzas indicadas de oro a 2.63 g/t y 117,000 onzas inferidas de oro a 1.51 g/t.
CopAur adquirió el proyecto en 2022 y desde entonces ha completado más de 20,000 metros de perforación en 59 agujeros, enfocándose en el área de Main Pit North. Los recientes interceptos han arrojado resultados de alta ley, lo que ha llevado a la empresa a explorar la idea de reiniciar la producción. CopAur ahora está actualizando la estimación de recursos, realizando estudios de ingeniería y participando en procesos de permisos para una posible nueva producción.
CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF)은 네바다주 엘코 카운티에 있는 Kinsley Mountain Gold Project에서의 역사적인 금 채굴 활동 요약을 제공했습니다. 이 프로젝트는 1995년부터 1997년 사이에 138,000 온스의 노천 금을 생산했던 과거 생산자로, 현재 CopAur가 업그레이드 및 확장 작업을 진행 중인 자원입니다. 이 자원에는 2.63 g/t의 418,000 확인된 온스 금과 1.51 g/t의 117,000 추정 온스 금이 포함됩니다.
CopAur는 2022년에 이 프로젝트를 인수한 이후, Main Pit North 지역에 집중하여 59개의 구멍에서 20,000 미터 이상의 드릴링을 완료했습니다. 최근의 채굴 결과는 고품질 성과를 보여주었으며, 이는 회사를 생산 재개를 탐색하는 방향으로 이끌었습니다. CopAur는 현재 자원 추정치를 업데이트하고, 공학 연구를 수행하며 새로운 생산 가능성을 위해 허가 절차에 참여하고 있습니다.
CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF) a fourni un résumé des activités historiques d'extraction d'or dans son Kinsley Mountain Gold Project dans le comté d'Elko, au Nevada. Le projet, qui a autrefois produit 138 000 onces d'or à ciel ouvert entre 1995 et 1997, abrite des ressources minérales actuelles que CopAur cherche à moderniser et à étendre. Ces ressources comprennent 418 000 onces indiquées d'or à 2,63 g/t et 117 000 onces inférées d'or à 1,51 g/t.
CopAur a acquis le projet en 2022 et a depuis complété plus de 20 000 mètres de forage dans 59 trous, en se concentrant sur la zone Main Pit North. Les intercepteurs récents ont donné des résultats de haute qualité, incitant l'entreprise à envisager l'idée de redémarrer la production. CopAur met maintenant à jour l'estimation des ressources, réalise des études d'ingénierie et s'engage dans des processus d'autorisation pour une éventuelle nouvelle production.
CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF) hat eine Zusammenfassung der historischen Goldabbauaktivitäten in seinem Kinsley Mountain Gold Project im Elko County, Nevada, bereitgestellt. Das Projekt, das in der Vergangenheit 138.000 Unzen Gold aus Tagebau zwischen 1995 und 1997 produziert hat, beherbergt aktuelle Mineralressourcen, die CopAur aufwerten und erweitern möchte. Diese Ressourcen umfassen 418.000 angezeigte Unzen Gold mit 2,63 g/t und 117.000 geschätzte Unzen Gold mit 1,51 g/t.
CopAur erwarb das Projekt im Jahr 2022 und hat seitdem über 20.000 Meter Bohrungen in 59 Löchern abgeschlossen, wobei der Schwerpunkt auf dem Hauptgrubenbereich im Norden lag. Die aktuellen Ergebnisse der Bohrungen haben hochwertige Ergebnisse geliefert, was das Unternehmen dazu veranlasst hat, die Möglichkeit einer Produktionsaufnahme zu erkunden. CopAur aktualisiert nun die Ressourcenschätzung, führt Ingenieurstudien durch und beteiligt sich an Genehmigungsprozessen für eine mögliche neue Produktion.
- CopAur owns 100% interest in the Kinsley Mountain Gold Project, a past-producing mine
- Current mineral resources include 418,000 indicated ounces gold at 2.63 g/t and 117,000 inferred ounces gold at 1.51 g/t
- Recent drilling has yielded high-grade intercepts, including 7.6 metres averaging 9.8 g/t Au
- Company is exploring the possibility of restarting production at Kinsley Mountain
- Engaging in resource estimate update, engineering studies, and permitting processes for potential new production
- Previous operator Alta Gold Co. filed for bankruptcy in 1999 due to low gold prices and falling production
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2024) - CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF) ("CopAur" or the "Company") is pleased to provide a summary of historic gold mining activities at the Company's flagship Kinsley Mountain Gold Project (the "Kinsley Mountain Project" or "Kinsley Mountain") in Elko County, Nevada.
The Kinsley Project hosts current mineral resources that CopAur is working to upgrade and expand. The Kinsley project is a historical past producer that yielded 138,000 ounces of open-pit gold mined by Alta Gold Co. (Alta) between 1995 and 1997, when mining was suspended.
Gold at Kinsley Mountain was first discovered in 1984, by the U.S. Mineral Exploration Co. (USMX) geologists. USMX formed a joint venture with Cominco Exploring the project with surface geochemical, geophysical surveys and extensive reverse circulation (RC) drilling through 1991. Hecla Mining Company then optioned the Project from Cominco for a single year completing a large RC drilling campaign. Alta picked up the Kinsley Mountain option in 1994 and put the Project into production in 1995.
Alta filed for bankruptcy in 1999, and the Kinsey claims were subsequently allowed to lapse. Alta was formed in 1962, and at the peak of its operations had 215 employees, operating three Nevada mines: the Olinghouse Mine near Reno, Griffon Mine near Ely, in addition to Kinsley Mountain. In March 1999 Alta reported that production fell at Olinghouse, and revenues were hurt by low gold prices. A month later Alta filed for Chapter 11 bankruptcy protection citing over
CopAur acquired the Kinsley Project in 2022, through an acquisition of New Placer Dome Gold Corp., consolidating a
The Kinsley Project hosts current mineral resources comprising the high-grade sulphide Western Flank Zone and near surface oxide of 418,000 indicated ounces gold at 2.63 grams-per-tonne (g/t) gold, and 117,000 inferred ounces gold at 1.51 g/t gold. Indicated resources are inclusive of 302,000 ounces averaging 6.11 g/t gold hosted within the Secret Canyon Shale at the Western Flank Zone1 (Figure 1).
It is important to note that after completion of the resource estimate there has been over 20,000 metres of diamond core and RC drilling in 59 holes completed by CopAur. Much of this drilling focused on the Main Pit North area that has yielded multiple near surface high-grade intercepts extending 150 metres outside the current pit shell that are expected to be key resource expansion drivers. Recent Main Pit oxide gold intercepts include: 7.6 metres averaging 9.8 g/t Au (KMR20-030); 25.9 metres averaging 2.22 g/t Au, including 10.7 metres averaging 4.2 g/t Au (KMR23-03); and 7.6 metres averaging 2.0 g/t Au2 (KMR23-04) (Figure 2).
These higher-grade near surface holes are the reason that CopAur is exploring the idea of restarting production. The project successfully operated at an average per ounce gold price of under
Jeremy Yaseniuk, Copaur CEO, commented. "We have asked The Metals Group and our various consultants to assist CopAur to update the resource estimate to include the recent drilling, assist in any engineering studies that may be needed and engaged Thorne Solutions LLC in Reno, Nevada to assist in the process for the permitting of 'NEW' production, should the reports indicate a positive direction. Further, management is looking at various options for non dilutive financing if a production decision is made."
Figure 1. Kinsley Mountain Main Pit Area Cross Section
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Figure 2. Main Pit North KMR23-05 and KMR23-07 Cross Section (looking north)
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Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC), Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a "Qualified Persons" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
About CopAur
CopAur is an exploration company focused on developing projects within the emerging, mineral-rich mining regions of Nevada. The Company is backed by a dynamic and experienced team of resource professionals advancing its projects in Nevada with the flagship project being Kinsley Mountain gold property, a Carlin-style project located 90 kilometres south of the Long Canyon mine (currently in production under the Newmont/Barrick joint venture, Nevada Gold Mines).
For more information, please contact:
CopAur Minerals Inc.
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Email: jeremyy@copaur.com
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 news release.
Forward Looking Information
This news release contains forward-looking statements. These statements relate to future events or the Company's plans or future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual plans and results to vary from those expressed or implied by such forward-looking including the potential for advancing the oxide gold deposit at Kinsely towards production or at all, the initiation of and timing to prepare technical studies including a PEA, PFS or FS on the Kinsley Mountain Project, the ability of the Company to evaluate or advance financing options for the Company. Forward-looking statements involve significant risks and uncertainties including the price of gold which may negatively affect the economic feasibility of the Company's mineral projects, making a production decision, the costs associated with the construction and operation of any production facility, the financing requirements associated with advancing any mineral project to production and various other factors and uncertainties. Forward Looking Statements should not be read as indications, assurances or guarantees of future plans or performance or results and they will not necessarily be accurate indications of whether or not any decisions will be made or that such results will be or can be achieved. Actual results could differ materially from those anticipated due to various factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions or plans on the date of this news release, the Company cannot assure investors that its actual plans or results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revised any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
1 Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021, with an effective date of May 5, 2021, and prepared by Michael M. Gustin and Gary L. Simmons, and filed under CopAur Minerals Inc. issuer profile on SEDAR (www.sedarplus.ca).
2 See CopAur Minerals Inc. news releases dated April 6, 2021, and November 11, 2023.
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FAQ
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