Ottawa, Ontario--(Newsfile Corp. - April 17, 2017) - Carube Copper Corp. (TSXV: CUC) Jeff Ackert, President and CEO is pleased to confirm that Carube Copper has received the official transfer documents from the Jamaican Ministry of Transportation and Mines for seven Special Exploration and Prospecting Licences previously held by OZ Minerals. Carube Copper now has 100% ownership of eleven Licenses covering 535 square kilometres in Jamaica.
Mr. Ackert emphasized, "Now that the Licenses are 100% in the company's name, we can move forward with aggressive exploration programs on our flagship Bellas Gate Project and the newly acquired highly prospective licences. Armed with the $14M exploration data package from OZ Minerals as well as our recently closed $1.6M financing, we plan to start our programs immediately."
Figure 1: Carube Copper's 100% owned licences in Jamaica totalling 535 square kilometres.
Jamaica is a highly favourable, stable jurisdiction for exploration and mining with strong support from the relevant Ministry as well as the Commissioner of Mines and Geology. The country's Cretaceous aged inliers host numerous copper and gold porphyry occurrences.
To date, Carube Copper has identified seven porphyry centres at the Bellas Gate Project alone. Many identified prospective areas on all Licenses have yet to be drill tested. Drill results have indicated strong and consistent mineralization in well altered porphyry style sequences. Highlights of drilled intersections are given in the following table.
Table 1. Selected drill intersections from the Bellas Gate project
| Hole ID | Zone | From | To | Interval | Cu (%) | Au (g/t) | CuEq (%) | ||
| CON-14-001 | Connors | 39 | 299 (EOH) | 260 | 0.44 | 0.19 | 0.55 | ||
| Including | 75 | 299 (EOH) | 224 | 0.49 | 0.22 | 0.61 | |||
| Including | 91 | 198 | 107 | 0.59 | 0.34 | 0.78 | |||
| CON-14-003 | Connors | 34 | 331 | 297 | 0.4 | 0.24 | 0.53 | ||
| Including | 57 | 189 | 132 | 0.5 | 0.38 | 0.70 | |||
| Including | 86 | 141 | 55 | 0.67 | 0.59 | 1.00 | |||
| Including | 252 | 321 | 69 | 0.55 | 0.22 | 0.68 | |||
| Including | 279 | 306 | 27 | 0.85 | 0.32 | 1.03 | |||
| CON-14-005 | Connors | 7 | 301 | 294 | 0.41 | 0.27 | 0.56 | ||
| Including | 7 | 103 | 96 | 0.68 | 0.57 | 1.00 | |||
| Including | 181 | 254 | 73 | 0.48 | 0.21 | 0.60 | |||
| PVT-16-001* | Provost | 29 | 111.1 (EOH) | 82.1 | 0.37 | 0.16 | 0.46 | ||
| including | 61 | 111.1 | 50.1 | 0.4 | 0.19 | 0.51 | |||
| and | including | 82 | 111.1 | 29.1 | 0.49 | 0.24 | 0.63 | ||
| PVT-16-002 | Provost | 29 | 368.15(EOH) | 339.15 | 0.28 | 0.12 | 0.34 | ||
| including | 80 | 93 | 13 | 0.41 | 0.16 | 0.50 | |||
| including | 138 | 148 | 10 | 1.28 | 0.90 | 1.79 | |||
| including | 189 | 204 | 15 | 0.38 | 0.24 | 0.52 | |||
| CH12-007 | Camel | 47 | 254 | 207 | 0.27 | 0.15 | 0.35 | ||
| Including | 192 | 206 | 14 | 0.46 | 0.34 | 0.66 |
The reported intervals do not necessarily indicate true width of mineralization, as its geometry is not known. Intervals calculated using unlimited internal dilution. Copper equivalents are calculated using a US $3.00/lb. copper and a US$1200 per ounce gold price assuming 100% recovery of both metals. For a full description of QC on matters pertaining to assaying of drill hole, please refer to press release dated October 7, 2014 and January 14, 2015 on the company's web-site or its SEDAR filings.
For the company's high priority drilling plans at Bellas Gate, please refer to press release dated January 12, 2017. For a review of the exciting news on the company's Main Ridge project see press release dated March 6, 2017. For more details on the acquisition of the OZ Minerals licences see press release dated January 11, 2017.
