Expanded Understanding of the
A zone of mineralization 300 m north of Coho was examined in 2021. This zone is associated with a very strongly magnetic gabbro to pyroxenite which can be traced as a magnetic high on Cirrus's magnetic data (Figs. 3 and 4). Some veins had been previously sampled historically, but additional veins and disseminated copper sulphides were discovered in 2021. 39 samples were collected from the southeastern portion of the magnetic high in 2021; the highest copper-gold values from the program were obtained from this area. Copper values ranged from 40 ppm to 16.35%, with 18 of the samples having values above 0.5% and 35 samples having values in excess of 0.1%. Gold values varied from below detection to 7.67 g/t Au. A boulder of strongly magnetic gabbro, interpreted to be locally derived, was sampled 500 m northwest of the main zone of sampling (Figs. 3 and 4). This sample ran 2.99% Cu and 0.17 g/t Au, implying that the entire strike length of this magnetic intrusion is prospective.
Another new area of interest was discovered in the west part of the property (Figs. 1 and 2), consisting of veinlets and fractures of chalcopyrite mineralization proximal to monzonite. 22 samples were collected from this new area. Copper values ranged from 66 ppm to 2.52%, with 15 of the samples containing more than 0.1%. Gold values varied from below detection to 0.13 g/t Au. This zone also contains the sample which ran 118 g/t Ag. This newly discovered Cu-Au mineralization is open in all directions. No historical rock sampling has been documented within 1 km of this area.
Another area of potential interest was discovered 800 m east of the Skook showing, where a small area that is anomalous in copper and gold (Figs. 1 and 2) also contains a sample with 86.7 g/t Ag and 2.03% Zn. The significance of this area has not been established.
Quality Control/Quality Assurance
The 2021 sampling effort included the insertion of blanks into the stream of samples for chemical analysis. Samples were prepared and analyzed at
About
Cirrus is engaged in the business of mineral exploration and the acquisition of mineral property assets in
For more information, please refer to the Company's prospectus dated
Contact:
Chief Executive Officer
President and Director
T: (778) 372 9888
E: invest@cirruscopper.com
V6C 1S4
Forward-Looking Statements:
This news release includes certain forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the commencement of trading of the Company's common shares on the Canadian Securities Exchange, future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as 'pro forma', 'plans', 'expects', 'will', 'may', 'should', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', 'believes', 'potential' or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company's properties, that the COVID-19 global pandemic will not affect the ability of the Company to conduct the exploration program on the Chuchi South Property, the availability of financing on suitable terms, and the Company's ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option to acquire the Chuchi South Property, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading 'Risk Factors' in the Company's prospectus dated
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