CopperCorp Intersects Broad Copper-Gold Mineralized System at Jukes

Vancouver, British Columbia--(Newsfile Corp. - December 19, 2024) - CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to announce assay results from drill hole JDD002 and JDD002W1 at the Jukes prospect on its 100% owned Razorback Copper-Gold-REE property in western Tasmania, Australia (Figure 1).

Highlights

• JDD002W1 intersected a broad zone of copper-gold mineralization assaying 50.0m @ 0.66% Cu and 0.27g/t Au from 498.0m, including two zones of higher-grade mineralization, with best intercepts of:

  • 20.0m @ 0.76% Cu and 0.17g/t Au from 498.0m; and

  • 19.0m @ 0.86% Cu and 0.48g/t Au from 529.0m, including

    • 2.05m @ 4.2% Cu and 1.66g/t Au from 545.4m

• Historical gradient array Induced Polarization ("IP") survey data over Jukes indicates a strong IP chargeability response associated with known surface geochemistry extending over a +700m undrilled strike length. Current and historic drilling at Jukes is limited to the extreme southern end of the IP chargeability and magnetic features.

Stephen Swatton, President and CEO of CopperCorp commented:
"We have intersected a previously unknown but significant IOCG body, that is lithologically similar to the deeper levels of the successfully mined Prince Lyell and Tharsis ore bodies at Mt Lyell (3MT copper, 3 Moz gold). Previous historical drilling at Jukes has clearly missed the IP target and hole JDD002W1 has just grazed the southern end of the anomaly. The IP interpretation indicates at least 700m strike extent of prospective ground that will now be tested by CopperCorp.

With the distinct lack of new copper discoveries globally, this drilling success within 5 kilometres of a copper mine that operated for [a century] has already attracted investor interest and testing the extension of this mineralisation becomes an urgent priority for 2025. The project is ideally located in Tasmania's mining-friendly region, where 4 operating mines are supported by a residential workforce, nearby water and transport infrastructure and 100% renewable grid power."

Latest Drill Results

JDD002 drilled to a depth of 310m, intercepted the Jukes Fault contact at approximately 122.3m and then traversed a sequence of variably K-feldspar-magnetite and chlorite-magnetite dacitic to rhyolitic volcanics with dispersed zones of weak disseminated to stringer chalcopyrite mineralization. Partial assay results (121.2-169.0m) have been received with best results including a low-grade intercept of 14.8m @ 0.18% Cu and 0.01g/t Au from 122.2m (Table 2). The hole was halted because it dipped too steeply and would not have intersected the mineralization now recorded in JDD002W1.

JDD002W1 was drilled to a depth of 569m (Figures 3 and 4), to enable a better drilling angle in order to test for copper mineralization below JDD001 and to test the 3D magnetic inversion model feature at depth. The hole successfully intersected broad zones of strong K-feldspar-magnetite, chlorite-magnetite alteration and sulphide mineralization after crossing the Jukes Fault contact at approximately 115.1m downhole. Multiple zones of variably intense Cu-Au mineralization were intersected in the form of disseminated and blebby to stringer and breccia vein chalcopyrite (see Table 2 for intercepts). The broadest zone occurred over a 50m wide interval (498-548m downhole) and includes two zones of high-grade mineralization (Table 2).

The copper mineralized zones in JDD002W1 are associated with intense chlorite-magnetite alteration which overprints earlier potassic (k-feldspar) altered dacitic to rhyolitic volcanic sequence host rocks.

Geophysics Review

Review of historical geochemical and geophysical survey data from the Jukes prospect area has identified significant IP chargeability anomalies broadly coincident with anomalous magnetics (magnetite alteration), surface geochemistry and historical mine workings over the prospect area. Two large (eastern and western) zones of anomalous chargeability (>20mv/v) have been identified through reprocessing of data from a historical Scintrex gradient array IP survey carried out in 1982 (Figure 4). To our knowledge we are the first company over the past 30 years to reprocess this data. The combination of density, magnetic and now IP are key to the identification of potential mineralization.

Western IP Anomaly - The western IP anomaly (Figure 4) extends over a NNE-SSW trending strike length around 550m with a central zone of >30mv/v extending approximately 230m along strike and laterally up to 140m wide. Hole JDD002W1 is interpreted to have intersected mineralization (50.0m @ 0.66% Cu and 0.27g/t Au) towards the southern end of the western IP anomaly (Figure 4) at a vertical depth of approximately 550m below surface. Towards the northern end of the anomaly, previous (1980's) near-surface channel sampling of the historical King Jukes No.1 Adit returned 58.0m @ 0.74% Cu and 0.39g/t Au (Figure 6) along the main drive which ended in mineralization. Apart from hole JDD002W1, the western IP anomaly remains untested by drilling along its strike length.

Eastern IP Anomaly - The eastern IP anomaly (Figure 4) extends over a N-S trending strike length of 700m with lateral widths up to 130m, and peak chargeability values up to 66mv/v occurring in the northern part of the anomaly. Drilling to date has only tested the southern end of the eastern IP anomaly where Cu-Au mineralization is truncated against the northeast-trending Jukes Fault. The northern extent of the anomaly remains untested by drilling over at least 600m of strike with surface indications, including historical mine workings and extensive zones outcropping potassic-chlorite-magnetite alteration and stockwork to breccia magnetite-pyrite veining, indicating the area is highly prospective for continuation of the copper-gold system.

The overall area of the anomalous gradient array IP zones is broadly coincident with the projected footprint of the large magnetic pipe feature at Jukes (Figure 6) that was previously defined by 3D magnetic inversion modelling⁵ to extend up to 700m in a N-S direction, and up to 1.4km vertically. Drill hole JDD002W1 intersected a zone of stockwork to massive magnetite-pyrite-apatite veining and breccia coincident with the magnetic inversion model feature between 268-401m downhole. The magnetite-pyrite veining is generally unmineralized for copper but contains elevated cobalt values, including discrete 1m intervals grading up to 0.1% Co. This zone of increased magnetite-pyrite veining overprints intense k-feldspar alteration and is interpreted to represent the hot inner core of the mineralization system at Jukes. The majority of copper-gold mineralization occurs associated with chlorite-magnetite alteration outbound of the potassic-magnetic core.

Next Steps

The exploration team is currently undertaking a detailed geological and structural review of the Jukes prospect whilst concurrently carrying out a surface outcrop channel sampling program over the IP anomalous zones. This work is ongoing concurrent with other prospective drill targets such as Hydes and Linda South.

About the Jukes Prospect and Previous Work

The Jukes prospect is located within the 100% owned Razorback Cu-Au-REE property, 10km south of the Sibanye-Stillwater owned Mt Lyell copper-gold mining camp (3Mt contained copper and 3Moz contained gold). Recent work by CopperCorp, including 3D inversion modelling of magnetic and gravity data indicates a vertically extensive pipe-like magnetic feature with a partially coincident to off-set residual gravity anomaly at Jukes⁴. The position of the magnetic and gravity anomalies adjacent to large fertile fault structures is considered highly prospective for structurally controlled mineralized pipes typical of the Mt Lyell system where anomalous gravity features occur associated with larger mineralized pipe bodies that have depth extensive chlorite-magnetite-apatite-biotite alteration zones (e.g. Prince Lyell and Western Tharsis orebodies)⁴ (Figure 5).

Previous exploration at the prospect includes limited drilling below historical workings during the 1970's and 1980's that gave a best intercept of 13.4m @ 1.6% Cu and 1.6g/t Au from 61.6m (drillhole JP02)⁵. Results of recent drilling¹ and channel sampling⁵ of historical underground adits by CopperCorp includes:

JDD001:

• 132.0m @ 0.35% Cu and 0.19g/t Au from 72.0m, including
  • 25.0m @ 0.75% Cu and 0.4g/t Au from 72.0m,
  • 10.1m @ 0.94% Cu and 0.69g/t Au from 128.5m, and
  • 10.0m @ 0.67% Cu and 0.29g/t Au from 194.0m

Jukes No.3 Main Adit (channel sampling):

• 31.0m @ 1.48% Cu and 0.83g/t Au, including
  • 9.0m @ 2.92% Cu and 1.79g/t Au

The copper-gold mineralization at Jukes occurs predominantly as chalcopyrite with lesser bornite, associated with intense chlorite-magnetite alteration with strong similarities to deep level mineralization at Mt Lyell.

Jukes Prospect Drill Hole Location Data (CopperCorp Drilling)

Table 1. Jukes prospect CopperCorp drill hole location and summary data.

Jukes Prospect Significant Cu-Au Mineralized Intervals (CopperCorp Drilling)

Table 2: Jukes prospect significant drillhole mineralized intercepts for CopperCorp drilling. Reported grades are calculated as down-hole length weighted averages. Intercepts are downhole intervals.

Figure 1. Southern Skyline Project properties and exploration target areas with magnetics TMI RTP image.

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Figure 2. Location of the Razorback property and the Jukes Zone target area relative to the Mt Lyell copper-gold mine. Blue outlines are CopperCorp's 100% owned licenses.

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Figure 3. Jukes prospect summary plan with magnetics reduced to pole (RTP) image underlay.

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Figure 4. Jukes prospect summary plan with Scintrex 1982 gradient array IP survey chargeability (psuedocolour image) and historical rock chip sample copper assays.

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Figure 5. Jukes prospect drill update summary section with 3D inversion model isosurface for magnetics (blue).

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Figure 6. Jukes prospect 3D model section slice (looking oblique towards SSW) showing drill results with historical mine adit channel sampling, 3D magnetic inversion model core (blue), and gradient array IP chargeability image draped on topography.

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Figure 7. Lyell - Razorback Cu-Au Trend schematic model.

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Figure 8. Long section through the Mt Lyell copper-gold camp looking east. After New Century Resources 23 Jan 2023 ASX announcement and Sibanye Stillwater website presentation material May 2024.

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About CopperCorp

CopperCorp is focused on the exploration and development of its Skyline, AMC, and Whisky Creek copper-gold-REE projects in western Tasmania. The company is well-financed with approximately C$3.5M in working capital as reported in the November 27, 2024 news release⁶.

Qualified Person & National Instrument 43-101 Disclosure

The Company's disclosure of technical or scientific information in this news release has been reviewed and approved by Sean Westbrook, VP Exploration for the Company. Mr. Westbrook is a Qualified Person (QP) as defined in National Instrument 43-101.

Information on historical and recent prospecting, mining, and exploration activities at the Skyline Project group of properties, including the Razorback property, contained within this news release has been reviewed and verified by the Qualified Person. In the opinion of the Qualified Person, sufficient verification of historical and new data has been undertaken to provide sufficient confidence that past exploration programs were performed to adequate industry standards and the data reported is fit for substantiating the prospectivity of the project in general, supporting the geological model/s proposed, planning exploration programs, and identifying targets for further investigation. The Company has undertaken resampling and analysis of available historical drill core and historical mining adits in order to independently verify historical results.

This news release contains information about adjacent properties on which the Company does not have an interest. The QP has been unable to verify the information on these adjacent properties and the information is not necessarily indicative to the mineralization on the properties that is the subject of this news release.

Quality Assurance / Quality Control on Assay Results

The Jukes diamond core drill holes are drilled at HQ core diameters using triple tube to maximize recovery. Core recovery was generally good in mineralized zones (95-100%). Sample collection was supervised by CopperCorp geological staff. Mineralized zones are marked up for sampling by an experienced geologist. Half core is split by diamond saw on nominal 1.0m sample lengths while respecting geological contacts. Samples are bagged and ticketed prior to delivery by Company personnel to the ALS commercial laboratories in Burnie, Tasmania, for sample preparation. The half core samples are crushed to 80% passing 2mm, riffle split to 500g and then pulverized to pass 75um. Duplicate sampling is conducted every 20 samples to assess variability of the assay pulp. Cu and multi-element assay is by 4-acid digest followed by ICP-MS at ALS laboratories by method ME-ICP61r. Verification of Cu assays was carried out on the main mineralized zone in JDD002W1 with the bulk coarse crush material pulverized and then assayed by ME-XRF15d. Au assay is by 30g fire assay at ALS laboratories by method Au-AA25. Certified reference materials (CRMs), blank and duplicate QAQC samples are included in sample submissions at 20 sample intervals. All QAQC samples were within acceptable limits (2 standard deviations for CRMs, duplicates <5%).

Mineralized Interval Calculations

Reported copper and gold significant mineralized intervals in this news release are calculated as down-hole length-weighted intercepts using a lower cut-off grades of 0.1% Cu for low-grade bulk intervals and 0.3% Cu for higher-grade intervals. A maximum internal dilution of 8m and 2m is included in the low-grade and high-grade intervals respectively. No top-cut grade was applied. True widths of drill hole intercepts are yet to be determined.

References

¹CPER: TSXV News Release 15^th October 2024
²CPER: TSXV News Release 25^th September 2024
³CPER: TSXV News Release 11^th September 2024
⁴CPER: TSXV News Release 26^th August 2024
⁵CPER: TSXV News Release 13^th May 2024
⁶CPER: TSXV Interim MDA for the Period Ended September 30 2024, 27^th November 2024

Adjacent Property (Mt Lyell) Information Sources:
Sibanye-Stillwater company website information as of May 12^th 2024
New Century Resources: ASX Announcement 23^rd January 2023
New Century Resources: ASX Announcement 27^th October 2021
Seymour, D.B., Green, G.R., and Calver, C.R. 2007. The Geology and Mineral Resource of Tasmania: a summary. Geological Survey Bulletin 72. Mineral Resources Tasmania, Department of Infrastructure, Energy and Resources Tasmania

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation relating the Company's expectations and plans regarding the Skyline Project, Razorback property and Jukes prospect in Tasmania; plans for future exploration and drilling at the Jukes prospect and the timing of same; the merits of the Company's mineral projects and other plans of the Company. Forward-Looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "encouraging", "expects", "plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims", "suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly", "preliminary" and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or other statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and that such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Factors that could cause future results to differ materially from those anticipated in forward-looking statements include risks associated the timing and outcome of the approval process for final granting of the EL11/2024 application; that the Company may experience difficulties in exploration and drilling and carrying out related work; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; possible accidents; the possibility that the Company may not be able to secure permitting and other governmental approvals necessary to carry out the Company's plans; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; the possibility that future exploration results will not be consistent with the Company's expectations; increases in costs; environmental compliance and changes in environmental and other local legislation and regulation; interest rate other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors and exchange rate fluctuations; changes in economic and political conditions; and other risks involved in the mineral exploration industry. The reader is urged to refer to the Company's Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of risk factors and their potential effects.

Forward-Looking statements are based on a number of assumptions, including management's assumptions about the following: the availability of financing for the Company's exploration activities; operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the receipt of necessary regulatory and governmental approvals; market competition; and general business and economic conditions. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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