Elemental Royalties

Carube Copper Drills 10 Metres of 1.79% Copper Equivalent at Bellas Gate Project in Jamaica

Toronto, Ontario--(Newsfile Corp. - November 23, 2017) - Carube Copper Corp. (TSXV: CUC) is pleased to report the results from drill holes HEN-17-013, PSE-17-001 and PSE-17-002, from the Hendley and Provost South East Prospects within the 100% owned Bellas Gate Project in Jamaica. These holes were drilled in the recently completed 1,900m scout drill campaign that investigated 3 of the 17 targets areas within a 6.5km by 4.0km belt. Copper mineralization was intersected in all of the 3 targets tested during the drill program.

Results from HEN-17-013 and PSE-17-001 include:

  • Continuous copper mineralization (defined by > 0.03% CuEq1) for 360.0m from 42.0m to 402.0m in HEN-17-013, which includes 114m of 0.23%CuEq1 (0.20%Cu and 0.06g/t Au), including 42m of 0.33%CuEq (0.27%Cu and 0.11g/t Au); and
  • Continuous copper mineralization over 180.1m from 24.7m downhole in PSE-17-001, with 21m of 0.20%CuEq1 (0.16%Cu and 0.06 g/t Au).

Figure 1: 2017 Drill Locations within the 6.5km by 4.0km copper mineralized belt showing location of HEN-17-013, PSE-17-001 and PSE-17-002
Carube Copper 11 23 2017

Table 1: Summary of Drill Results from the SAZ 2016-2017

Hole Number   From (m) To (m) Length2 (m) Au g/t Cu % CuEq %
PVT-16-001*#   29 111.1 (EOH) 82.1 0.16 0.37 0.46
including   61 111.1 50.1 0.19 0.40 0.51
and including 82 111.1 29.1 0.24 0.49 0.63
PVT-16-002#   29 368.15 (EOH) 339.2 0.12 0.28 0.34
including   80 93 13.0 0.16 0.41 0.50
including   138 148 10.0 0.90 1.28 1.79
including   189 204 15.0 0.24 0.38 0.52
PVT-16-003# No significant assays
PVT-17-004#   45.3 385.4 340.1 0.09 0.20 0.25
Including   45.3 204 158.7 0.05 0.16 0.19
Including   204 240.13 36.1 0.12 0.23 0.30
Including   251.45 306.75 55.3 0.27 0.35 0.51
and Including 253 267 14.0 0.71 0.62 1.04
Including   306.75 385.4 78.7 0.05 0.17 0.19
PVT-17-005#   133 324 191.0 0.13 0.22 0.30
including   250 324 74.0 0.24 0.35 0.50
  including 256 276 20.0 0.32 0.46 0.66
  including 285 295 10.0 0.30 0.40 0.59
and including 285 290 5.0 0.39 0.50 0.74
  including 308 313 5.0 0.31 0.57 0.77
PVT-17-006#   32.2 234 201.8 0.12 0.17 0.25
including   112 158 46.0 0.29 0.31 0.50
  including 119 131 12.0 0.60 0.37 0.75
and including 119 125 6.0 1.02 0.38 1.03
HEN-17-013   42.0 402.0 360.0 0.03 0.11 0.13
  including 250.0 364.0 114.0 0.06 0.20 0.23
    315.0 357.0 42.0 0.10 0.27 0.33
    340.0 347.9 7.9 0.16 0.32 0.42
  and 315.9 326.1 10.2 0.15 0.30 0.39
  including 315.9 320.0 4.1 0.15 0.40 0.50
PSE-17-001   24.7 204.8 180.1 0.04 0.09 0.11
  including 41.0 141.0 100.0 0.05 0.12 0.15
  and 49.0 70.0 21.0 0.06 0.16 0.20
  including 54.0 56.0 2.0 0.12 0.25 0.32
PSE-17-002*   0.0 84.7 84.7 0.05 0.07 0.10
  including 32.0 46.0 14.0 0.12 0.15 0.23
  including 32.0 34.9 2.9 0.33 0.13 0.34

*hole did not reach targeted depth due to technical problems
#
Previously announced
1
CuEq (Copper equivalents) are calculated using a US $3.00/lb. copper and a US$1300 per ounce gold price assuming unlimited internal dilution and 100% recovery of both metals.
2 The intervals do not necessarily indicate true width of mineralization, as its geometry is not known. Sample Preparation, Analysis and Quality Control: For a description of these items as pertaining to drill core and soil samples please see bottom of release. Carube Copper and Activation Laboratories all have robust sample security and quality control programs in place for samples collected in Jamaica.

-

Jeff Ackert, President and CEO of Carube Copper commented, "This drilling program intersected copper mineralization in all three targets. The widespread copper mineralization over the six and a half kilometre by four kilometre corridor at Bellas Gate indicates the presence of a very large system with the potential to host multiple copper-gold porphyries. The results at Connors with 96m of 1.0% CuEq within a 300m wide porphyry demonstrate the potential for good grade mineralization in parts of the system. Our next program will test other targets in this belt and follow up the higher-grade intersections with some infill ground geophysics and more drilling."

The drilling in this program was focused on the northernmost portion of the Southern Alteration Zone (SAZ) which is a 6.5 kilometre long trend between the Coffee Copper anomaly in the south, through the known Camel Porphyry to the Hendley Prospect in the north. Drill targets within this significant trend include the Provost Prospect, the Hendley Prospect and the Provost Southeast Prospect. This trend has been defined by copper in soil anomalies, characteristic trace element porphyry indicators, Induced Polarization (IP) chargeability anomalies, distinctive porphyry style alteration, areas of intense quartz veining and unique magnetic signatures. Previous scout drilling along this trend has returned extremely encouraging copper porphyry style mineralization including 339.2m of 0.34%CuEq (0.28%Cu and 0.12 g/t Au) in Hole PVT-16-002, the first complete hole drilled at the Provost prospect last year. At the Camel Porphyry previous drilling by the company intersected 170m of 0.39% CuEq (0.32% Cu, 0.11 g/t Au) including 59m of 0.53% CuEq (0.42% Cu, 0.17 g/t Au) in hole CH12-01.

The success of this drill program has confirmed the presence of significant copper porphyry mineralization in this zone. It is believed that the extensive copper mineralization, alteration and veining seen in core at Provost and Hendley indicates a strong system with substantial depth potential. Further work is planned along the SAZ and other target areas within the belt, which will include infill IP and core drilling.

Upcoming Exploration News from Jamaica

Carube Copper has a pipeline of copper and gold prospects on its eleven licences in Jamaica. A surface exploration program is underway on the Main Ridge and Arthurs Seat licences which lie adjacent to, and contiguous with, the Bellas Gate Project Area. Soil sampling, mapping and ground geophysics is working towards defining drill targets at several showings on the Main Ridge Project area. See Press Release March 6, 2017.

QP Statement: This press release has been reviewed and approved by Mr. Shannon Baird, P.Geo., Carube Copper's Exploration Manager, in his capacity as a qualified person as defined under NI 43-101

Wholly Owned Projects

Carube is focused on the exploration and development of copper and gold projects in Jamaica and Canada. In Jamaica, Carube Copper holds a 100% interest in 11 licenses, totalling 535 square kilometres. In Canada, it holds a 100% interest in three porphyry copper-gold-molybdenum properties, totalling 492 square kilometres within the Tertiary-aged Cascade Magmatic Arc in southwestern British Columbia. Carube is currently drilling on its Bellas Gate Project in Jamaica where it has recently intersected over 340m of continuous copper and gold mineralization at the Provost Prospect.

Sample Preparation, Analysis and Quality Control

Drill core (HQ3, NQ3, NTW and BTW) was stored at a secure compound at Bellas Gate where it was subsequently examined. All core was then sawed in half and the split core from 1m± intervals, which weighed approximately 2kg, was bagged individually.  Five to ten samples were then packaged in rice bags and boxed for shipping by bonded courier to Activation Laboratories Ltd (ActLabs) in Ancaster, Ontario.  At ActLabs the samples were crushed with up to 90% passing 2mm, 250g was then split and pulverized to 95% passing 105 microns.  ActLabs 1A2 and 1F2 procedures was employed to determine Au by fire assay and 36 elements including copper using a 4 acid near total digestion with ICP finish. ActLabs is a fully accredited laboratory to ISO 17025 and CAN-P-1579 and NELAP standards.  A number of Certified Reference Material standards using both oxide and hypogene matrixes as appropriate and coarse and pulp blanks are inserted into the sequence of samples to be analyzed. Approximately 20% of the samples submitted for analysis are for quality control.

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