CONE - Canada One Identifies 2.5 x 2.5 km Alteration Footprint on the CM1 Copper Property Princeton British Columbia
(TheNewswire)
Vancouver, B.C., November 09, 2023 -Canada One Mining Corp. (“Canada One” or the “Company”) (TSXV: CONE) (OTC: COMCF) (FSE: AU31) completed an orientation field program on the CM1 Copper Property (“ CM1 ” or the“ Property ”), a 1,054 Ha land package that was recently added toCanada One’s Flagship Copper Dome Project (now totaling over 5800Ha). CM1 is contiguous with the Copper Dome Project , locatedimmediately south of Hudbay Mineral’s active Copper Mountain Minenear Princeton, British Columbia.
Mr. Peter Berdusco, President and CEOof Canada One, commented: “Positive indications for copper potential on CM1 include a largealteration footprint with intensely quartz-sericite-pyrite alteredintrusions which together represent a new and distinct magmatichydrothermal center adjacent to the Copper Mountain Mine. CM1 ishighly prospective for porphyry copper-gold mineralization and we lookforward to executing a systematic exploration program.”
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CM1 Highlights
CM1 contains geological features consistent with the distal copperyporphyry setting and has confirmed the potential for bulk copper-goldmineralization:
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Alteration footprint measuring at least 2.5 by 2.5 kilometers
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Favorable host rocks including Nicola Group mafic volcanic rocks
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Quartz-sericite-pyrite altered quartz-feldspar porphyry intrusions
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Property contains the Ox Copper Showing (disseminatedchalcopyrite-magnetite)
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Located 4 km south of the Hudbay Mineral’s producing Copper MountainMine (1,132 Mt @ 0.22% Cu; 0.09 g/t Au; 0.64 g/t Ag; Total Measured andIndicated 1,2 )
Figure 1. Location of thenewly optioned CM1 , theCopper Dome Project and Copper Mountain
Field Evaluation of CM1
An orientation field evaluation campaign was conductedon CM1 to examine alteration and mineralization associated with theNicola Group volcanic rocks and younger intrusions. A total of 26mapping station outcrops were reviewed and together outline analteration footprint measuring at least 2.5 x 2.5 kilometers definedby chlorite-epidote-carbonate +/- pyrite with internal zones ofquartz-sericite-pyrite alteration and zones of calc-silicate skarndevelopment (Figures 2 and 3).
Economic Geology of CM1
CM1 is underlain by Triassic-Jurassic Nicola groupbasalt-andesite composition volcanic rocks which are intruded byhornblende-feldspar porphyry dikes that are interpreted to belong tothe Early Jurassic Copper Mountain stock of the Copper MountainIntrusions to the north. Recent field work has identified a largealteration footprint consisting of chlorite-epidote-carbonate-pyritealtered Nicola Group mafic fragmental volcanic rocks. Locally,carbonate-rich sedimentary rocks internal to the Nicola Group arealtered to calc-silicate skarn (garnet-pyroxene-epidote) (Figure 3).The Property is cut by quartz feldspar porphyry dykes (diorite) whichare overprinted by intense (texturally destructive)quartz-sericite-pyrite alteration and are limonitic in exposedoutcrops.
The Nicola Group is considered highly prospective andis host to porphyry copper-gold deposits and mines in southern BritishColumbia including:
1- Copper Mountain Mine (HudbayMinerals 3 ) immediately north of CM1
2- MPD Exploration/Development project northof Princeton (Kodiak Copper 4 )
3- New Afton active block cave mine nearKamloops (Newgold 5 ) *
Figure 2. Geology and mineraloccurrences of the Copper Mountain Mine (Hudbay Minerals) andadjoining Copper Dome Project area including CM1 (Canada OneMining).
Figure 3. Examples of intensequartz-sericite-pyrite (and limonite) alteration (3A-3C) and quartzvein stockwork development in Nicola Group Volcanic rocks (3D) fromCM1.
References
1 Klue, R., Redmond, P.,Alberto, L.C., Simonian, B., Humala, A., Weston, S., 2022. COPPERMOUNTAIN MINE LIFE-OF-MINE PLAN AND 65 KT/D EXPANSION STUDY UPDATE NI43-101 TECHNICAL REPORT BRITISH COLUMBIA, CANADA. Report Date:September 30, 2022. Effective Date: August 1, 2022.
2 The Copper MountainMine Mineral Resource Estimate includes a measured resource 597 Mt @0.23% Copper, 0.10 g/t Gold, 0.71 g/t Silver, an Indicated resource of535 Mt @ 0.20% Copper, 0.09 g/t Gold, 0.57 g/t Silver and an inferredresource of 446 Mt @ 0.19% Copper, 0. 09 g/t Gold, 0.54 g/t Silver
3 https://hudbayminerals.com/canada/default.aspx
4 https://kodiakcoppercorp.com/projects/mpd/
5 https://newgold.com/assets/#new-afton-mine
* The Companycautions that mineral deposits may not be present on CM1.
Qualified Person
All scientific and technical information in this newsrelease has been prepared by, or approved by Daniel MacNeil, PGeo. Mr.MacNeil is a qualified person for the purposes of National Instrument43-101 - Standards of Disclosure for Mineral Projects.
Contact Us
For further information, interested parties areencouraged to visit the Company’s website at www.can a daonemining.com , or contact the Company by email at ir@strategixir.com , or by phone at 1.877.844.4661.
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer
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