CAVU Mining Intersects 22.28m of 1.405 % Cu, 11.7 g/t Ag and 0.532 g/t Au (1.84% CuEq) on Hopper Copper-Gold Project in Yukon
Vancouver, British Columbia--(Newsfile Corp. - September 27, 2021) - CAVU Mining Corp. (CSE: CAVU) (OTC: CAVVF) (FSE: 8NQ) ("CAVU" or the "Company") is pleased to announce drill results for drill holes HOP21-DDH-01 to -03 on the Hopper copper-gold project in Yukon Territory, located in the traditional territory of the Champagne and Aishihik First Nations.
- Hole HOP21-DDH-01 intersected 22.28m of 1.84% CuEq,consisting of of 1.405% Cu, 11.7 g/t Ag, and 0.532 g/t Au
- Hole HOP21-DDH-02 intersected 9.39m of 0.78% CuEq, consistingof 0.622% Cu, 4.2 g/t Ag, and 0.197 g/t Au
- Hole HOP21-DDH-03 intersected 10.96m of 1.76% CuEq,consistingof 1.365% Cu, 9.6 g/t Ag, and 0.488 g/t Au
"These encouraging high-grade drill results indicate that the true extent of Copper Castle is yet unknown as the mineralization remains open to the south, east and west," stated Jaap Verbaas, CEO of CAVU. "The tenor of mineralization surpassed what we expected and Hole HOP21-DDH-01 contains the longest high-grade true-width intersect drilled on the Hopper Project to date. The holes tested a particular geophysical anomaly which continues further south for several hundred meters and we look forward to drill-testing this anomaly and the mineralization along strike."
Table1. Drill results of HOP21-DDH-01 to -03
1Drilling approximately directed perpendicular to bedding and skarn horizons, therefore intersects are expected to be within 95% of true width.
2Assumptions used in USD for the copper equivalent calculation were metal prices of $3.00/lb Copper, $1,300/oz Gold, $18/oz Silver and recovery is assumed to be 100% as only preliminary metallurgical test data is available. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.6319) + (Silver (g/t) x 0.0087).
Table 2. Drill collars (UTM Zone 8N) as surveyed with dGPS.
|Drill Hole||Easting||Northing||Elevation||Azimuth||Dip||Depth||Zone Name|
Copper Castle extension and geophysics
Copper Castle is a skarn zone at the Hopper project of approximately 1350 x 650m in aerial extent. Geological modeling indicates at least 8 skarn horizons from surface to 400m depth. The drill intersects from hole HOP21-DDH-01 to DDH-DDH-03 are from one continues skarn horizon that is characterized by magnetite-chalcopyrite-pyrrhotite skarn to magnetite-carbonate-chalcopyrite skarn.
The drill holes targeted an electromagnetic (EM) anomaly that continues towards the south and north and is largely undrilled. The intersects confirm this anomaly is associated with intense skarnification and massive sulphide mineralization. The correlation of the anomaly to massive sulphide mineralization also supports other untested EM anomalies on the claim.
QAQC and Data Verification
The current drill samples have analyzed by MS Analytical Langley, an ISO 9001:2008 certified laboratory. Quality assurance and control (QAQC) is maintained at the lab through rigorous use of internal standards, blanks and duplicates. An CAVU adds another 5% QAQC samples consisting of standards, blanks and field duplicates. QAQC samples that return unacceptable values trigger investigations into the results and reanalysis of samples that were tested in the batch with the failed QAQC sample.
Roger Hulstein, P. Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented within the news release.
About CAVU Mining Corp.
CAVU Mining Corp. is a mining company engaged in the acquisition, exploration and development of mineral projects containing metals used in green technologies and the renewable energy sector. The Company is currently focused on the exploration of its Hopper Copper-Gold Project in Yukon and continues to evaluate complimentary mineral projects in mining-friendly jurisdictions.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Jaap Verbaas, P.Geo.
CEO and Director
CAVU Mining Corp.
All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission and the Ontario Securities Commission.
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