Wedgemount Resources Samples up to 14.8% Cu and Discovers Multiple New Mineralized Zones at Cookie Copper-Gold Property, North-central BC

2021-10-06 05:13:56

VANCOUVER, BC / ACCESSWIRE / October 6, 2021 / Wedgemount Resources Corp. (CSE:WDGY) (“ Wedgemount ” or the “ Company “), is pleased to update shareholders on assay results from the Company’s Phase 1 Cookie exploration program. The 29,000 hectare Cookie copper-gold property is located in the prolific southern Toodoggone copper belt of north-central British Columbia.

Highlights

  • Up to 14.8% copper and 88 g/t silver was sampled in mineralized veins in the Overstall zone located in the northwest portion of the project.
  • Multiple new zones of porphyry-related alteration and mineralization were discovered including the Menard Pass area which returned samples up to 2% copper and 119 g/t silver.
  • The next phase of exploration will include induced polarization (IP) geophysics to aid in drill targeting.

Mark Vanry, President and CEO of Wedgemount commented, “As per our August 11, 2021 press release , our technical team did an outstanding job finding previously un-sampled zones of copper, gold and silver mineralization outcropping in multiple areas of the project. With a multitude of samples in various areas of the project returning greater than 1% copper, the Company is optimistic that not only will there be robust copper drill targets, but there is also the opportunity for significant grade. Wedgemount is optimistic that the next phase of exploration, including an IP survey, will further help delineate high-potential drill targets for the 2022 exploration season.”

Exploration Program Results

The focus of the 2021 Phase 1 exploration program was to confirm the grade and style of copper and gold mineralization documented in historic assessment reports as well as to evaluate new areas considered prospective for porphyry-related mineralization. Priority target areas included the five kilometer long, Red-Amber northwest trending corridor on the eastern side of the property and the six kilometer east-west trend of under-explored copper occurrences (e.g., Garry, Nightfly, ARD, Kim, Verna, Menard Pass) on the western side of the property. Other priority targets on the western side included the Overstall and Jensen Creek areas. The field program was based out of a fly camp on the east end of Amber Lake. Sampling was conducted by a 5-person crew from Tripoint Geological Services Ltd. between July 15 and August 11, 2021. Over the course of 15 field days, 86 rock samples, 689 soil samples, and 122 alteration chips were collected for analysis.

Assay results have now been received for 86 grab rock samples from a variety of mineralized settings on the Cookie property. A total of 52 rock samples returned copper concentrations in excess of 1,000 ppm (0.1% copper) of which 20 samples exceeded 10,000 ppm (1.0% copper). These 20 samples returned results ranging from 1.05% copper to the highest at 14.8% copper (Table 1).

Four samples returned gold grades in excess of 4 g/t including the best result of 32.6 g/t gold from sample D704123 which also returned 85.8 g/t silver and 5.17% copper. The sample was taken from iron- oxidized quartz vein float with malachite/azurite staining and chalcopyrite. Nineteen samples returned greater than 10 g/t silver, including two samples that returned greater than 100 g/t silver.

Anomalous copper results tended to have correspondingly anomalous gold and silver results with a wide range of returned values. See Table 1.

Sample D704025 was taken at the Overstall Zone from a highly brecciated outcrop with carbonate-chalcopyrite-bornite veinlets hosted in propylitic altered diorite and returned 14.8% copper, 87.8 g/t silver, 0.14 g/t gold and 1.28% molybdenum. The Overstall Zone is characterized by a zone of intense potassic alteration associated with mineralized veining (quartz, chalcopyrite, bornite, pyrite) that occurs in diorite immediately west of the contact with Takla volcanics on the north-facing slope of Overstall ridge.

Sample D704061 was taken from the Menard Pass area and returned 1.37% copper, 115.0 g/t silver and 4.46 g/t gold in a shear zone containing lenses of quartz-calcite veining which cuts amygdaloidal andesite with abundant malachite-azurite staining. The Menard Pass area forms the western terminus of the six kilometres of roughly E-W trending ridges from the Menard Pass east to the Garry/Nightfly showings. The geology is characterized as Takla volcanics in contact with potassic-altered diorite intrusive which exhibit stockwork carbonate veining and strong propylitic alteration. Mineralization along the trend range from discrete shear structures to metre-wide stockwork quartz-carbonate-chalcopyrite veining to propylitic altered basalt with a carbonate stockwork that hosts pods of massive bornite and molybdenite.

The 2021 sampling has revealed alteration and associated mineralization in the Overstall and Menard Pass areas that present obvious targets for future work. The intensity and close proximity of intrusions, alteration, and mineralization indicates that volcanics are in contact with a potassic altered intrusive along a regionally mineralizing trend which suggests an intense porphyry-related event. Future work will involve more detailed geological mapping of lithology, mineralization style, and alteration and detailed soil sampling. Many more prospective areas on the Property require follow-up based on initial 2021 sampling, including West Hat, Midas, and Jensen Creek.

Other significant rock results from Cookie are tabulated in Table 1.

Table 1. Significant Results – 2021 Cookie Rock Samples












Zone

SampleID

Sample_Type

Outcrop_Type

Au (g/t)

Ag (g/t)

Cu (%)

Mo (%)

Sample Comments

Overstall

D704025

GRAB

OC

0.141

87.800

14.800

1.280

Brecciated carbonate-cpy-bo veinlet cuts prop altered diorite

Jensen Creek

D704110

GRAB

OC

0.035

16.550

5.340

  Epidote-qtz-hem vein with diss cpy and lesser py cuts prop altered basalt

West Hat

D704123

GRAB

Float

32.600

85.800

5.170

  Fe oxidized quartz vein float with malachite/azurite staining and chalcopyrite

Menard

D704045

GRAB

Float

0.539

119.000

2.180

  Float sample of qtz-cal-py with mal staining

Menard

D704060

GRAB

OC

0.125

27.900

1.970

  Shear zone hosts disseminated cpy and py with pervasive mal-az staining

Menard

D704043

GRAB

OC

-0.005

6.010

1.715

  Qtz-calc-cpy-bo veinlet

Other

D704041

GRAB

OC

0.585

39.500

1.680

  Shear in maroon volcanic hosts abundant mal-az fill and vuggy qtz-carb-cpy-bo vein

Menard

D704061

GRAB

OC

4.460

115.000

1.370

  Shear containing lenses of qtz-cal veining cuts amygdaloidal andesite; abundant mal-az staining

North Menard

D704118

GRAB

OC

0.024

2.850

1.195

  Chlorite basalt with malachite and chalcopyrite hosted in small structure

West Hat

D704051

GRAB

Float

29.800

28.400

1.050

  Float sample of heavily oxidized quartz vein with malachite staining

West Hat

D704052

GRAB

Float

9.120

26.800

0.737

  Float sample of iron sulfide hosted in quartz vein

Figure 1. Map showing location of 2021 rock sample locations and results on the Cookie project with the best results highlighted in text.

Cookie Property

The center of the 29,000 hectare Cookie property is approximately 40 kilometers south of Centerra Gold’s past producing Kemess copper-gold mine and approximately 200 kilometers north of Smithers B.C. Historical work from the late-1960s to the early 2000’s, including geological mapping, geophysical and geochemical surveys and limited drilling have outlined numerous porphyry-related copper-gold targets defined by widespread hydrothermal alteration zones, copper and gold mineralization and strong, yet un-drill-tested copper-in-soil geochemical anomalies.

The property straddles a terrane boundary (e.g., Ingenika Fault) between the Quesnel and Stikine terranes where Triassic to Jurassic sequences of volcaniclastic and sedimentary rocks are intruded by Early Jurassic to mid-Cretaceous plutons and stocks. Most of the historical work on the Cookie property has been confined to large gossans on the east side that represent more altered and porphyritic varieties of the intrusive units. Here, Cu-Au±Mo mineralization observed in historic drill core and outcrop is associated with porphyry-related hydrothermal alteration (e.g., Red-Amber corridor). Similarly on the west side of the property, widespread alteration, and local copper-bearing mineralization (e.g., ARD, Kim, Overstall, Verna) is located within rocks that host intrusions associated with the regionally prospective Black Lake intrusive suite.

Data Verification and National Instrument 43-101 Disclosure

Some data disclosed in this news release relating to sampling and drilling results are historical in nature. Neither the Company nor a Qualified Person, as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“ NI 43-101 “),have verified the data, and, therefore, investors should not place undue reliance on such data. In some cases, the data may be unverifiable due to lack of drill core. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s property. The technical information disclosed in this news release has been reviewed and approved by Ken MacDonald, P.Geo., a Qualified Person as defined by NI 43-101.

About Wedgemount Resources Corp .

Wedgemount Resources is a junior mineral exploration company focused on maximizing shareholder value through the acquisition, discovery and advancement of high-quality copper – gold projects in North America.

On behalf of the Board of Directors,

WEDGEMOUNT RESOURCES CORP.
Mark Vanry, President and CEO

For more information, please contact the Company at:
Telephone: (604) 343-4743
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.wedgemountresources.com

Reader Advisory

This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward looking statements made in this news release include the Company’s plans for exploration of the property and anticipated exploration results. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration programs, successes of the Company’s exploration programs, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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