CopperCorp Resources (TSXV:CPER) Secures Landmark Exploration License for the Razorback Project in Western Tasmania

Figure 1. Location plan showing CopperCorp’s exploration licenses and project areas in western Tasmania, Australia. Source: CopperCorp Resources

CopperCorp Resources (TSXV:CPER) (OTCQB:CPCPF) has announced that its wholly-owned division, Georgina Resource Pty Ltd, has acquired exploration license EL8/2023, known as the “Razorback Project.” The license was won through Tasmania’s Exploration Release Area (ERA) competitive bidding process and involves an area situated south of the notable Mt Lyell copper mine in the scenic expanse of western Tasmania, Australia.

Steve Swatton, President and CEO of CopperCorp commented in a press release: “The Razorback land package has been recognized and highly regarded by our team since inception of the Company. The project is located immediately south and along trend of the 3 million tonne (contained copper) historic Mt Lyell mine which has generated significant copper and gold since starting production in the late 1800’s and still has a reported 25-year mine life3. Previous exploration work completed at Razorback indicates the presence of significant copper, gold and rare earth mineralization including in surface sampling and drill intercepts. We look forward to initiating a work program to advance exploration at Razorback including following up on the significant copper-gold and rare earth surface showings and intercepts.”

Known for their diligent work and strategic approach, CopperCorp has identified promising prospects for unearthing primary rare earth elements (REE) and copper-gold deposits within the iron oxide of the Razorback Project locale. This optimism stems from earlier drilling results that produced substantial rare earth oxide (TREO) intercepts and Cu-Au intercepts. Additionally, areas revealing anomalous REE assays from surface rock chip sampling show potential for new REE exploration targets.

Adding to their exploration portfolio, the successful Razorback Project bid grants CopperCorp an additional 171 square kilometres of mineral license holdings, augmenting the firm’s current assets with the 100%-owned AMC and Skyline projects in western Tasmania. The total combined exploration license holdings now stand at 1,571 square kilometres.

The Razorback Project is ideally situated over the Middle Cambrian aged Mt Read Volcanics (MRV), immediately south of the Mt Lyell copper project. Its easy access via all-weather gravel roads and proximity to necessary infrastructure such as power transmission lines and regional mining centres make it an attractive prospect.

MRV, a curved belt of calc-alkaline volcanic sequences, hosts various world-class polymetallic base metal, Cu-Au, and Au-only deposits, all testament to the Tyennan Orogeny’s metallogenic prowess. CopperCorp holds strong potential for uncovering magmatic-hydrothermal related iron oxide copper-gold (IOCG) deposits and hybrid porphyry-epithermal Cu-Au/Au-only deposits in the Razorback Project.

The project’s background also reveals excellent potential for rare earth element (REE) mineralization. Historical exploration drilling results disclose REE intercepts and anomalous REEs in surface rock chip sampling, indicating the presence of valuable REE minerals, a prospect CopperCorp is eager to explore further.

The Razorback Project, with a history of intermittent exploration since the mid-1950s, has seen geological mapping, gridding, sediment, soil geochemistry, and adit sampling, amongst other exploration activities. CopperCorp is ready to compile and digitize these historical exploration data, charting their way forward in targeting more REE and Cu-Au exploration targets.

With the formal granting of the exploration license, CopperCorp is already charting out an exploration strategy for EL8/2023, eager to share updates as the project unfolds. This marks yet another milestone in CopperCorp’s quest for discovery and innovation in mineral exploration.

Licence ID Project Target Commodity Status Total Area km2
EL8/2023 Razorback Rare Earths-Copper-Gold Priority Application 171

Table 1. Summary of CopperCorp’s new licence application in western Tasmania, Australia.

DH ID From
m
To
m
Width
m
TREO
%
CeO2
%
La2O3
%
Nd2O3
%
Pr6O11
%
Sm2O3
ppm
Gd2O3
ppm
Dy2O3
ppm
Eu2O3
ppm
Er2O3
ppm
Tb4O7
ppm
Ho2O3
ppm
Tm2O3
ppm
Lu2O3
ppm
Yb2O3
ppm
Y2O3
ppm
SDD005 297 327 30 2.08 0.99 0.5 0.33 0.1 500 300 128 48 32 34 16 4 3 22 448

Table 2. Rare earth oxide values from significant drill hole intercept in SDD005 30.0M @ 2.1% TREO (1.0% TREO cut-off). Values have been rounded.

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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