Vancouver, British Columbia--(Newsfile Corp. - July 27, 2021) - CAVU Mining Corp. (CSE: CAVU) (FSE: 8NQ) ("CAVU" or the "Company") is pleased to report that the Company has completed the drilling of the Franklin Skarn on the Hopper Copper-Gold Project in the Yukon. The Hopper Project is in the traditional territory of the Champagne and Aishihik First Nations.
To date, 550m has been drilled in the Franklin and LV skarn zones. Three holes were drilled in the Franklin skarn and have been logged, sampled and sent to MS Analytical in Langley for assays. All holes have intersected skarn zones with visible copper-sulphide mineralization consisting of chalcopyrite.
Currently, the LV and JG skarn zones are being drilled. After these targets are tested, the program will test the main porphyry target with a 350m deep hole. The porphyry hole will be the second diamond drill hole to ever test the porphyry mineralization on the claim.
"We are encouraged by our findings from the skarn drilling so far," stated Jaap Verbaas, CEO of CAVU Mining. "As a result of our thorough assessment of geophysical and historical data, the drilling so far has yielded intersects that have extended the skarn to the south by 250m. This brings the footprint of skarn mineralization based on drilling to approximately 1350 x 650m. Based on all data sets, the Company believes the footprint may be as large as 1700 x 1100m. Now that we are confident in the skarn mineralization and our ability to expand its known footprint, we look forward to the porphyry drilling which will commence in a matter of days."
About the Hopper Project
The hopper is a road-accessible copper-gold skarn and porphyry project. Skarn mineralization has been intersected in drilling over 1200 x 800m and is open to the west, east and south. The mineralization is truncated in the north by the Hopper intrusion. The Hopper intrusion contains gold, copper and molybdenum mineralization and is 5 x 7 km in size and contains the porphyry target. Skarn mineralization has historically yielded intervals such as 0.63% Cu, 0.46 g/t Au and 4.1 g/t Ag over 10.04m1 and also contains gold-rich layers of up to 12.15 g/t Au over 2.65m2. The porphyry target has been drilled by a grid of short percussion holes which were too shallow and oriented at sub-optimal angles. Despite the unfavorable angle and depth, several holes bottomed in mineralization.
CAVU has the option to earn a 70% interest in the Hopper Project from Strategic Metals as per the Company news release dated April 6, 2021.
The drill samples will be sent to MS Analytical Langley, an ISO 9001:2008 certified laboratory for analysis along with certified blanks, standards and field duplicates inserted by the Company for QAQC. The information presented above is based on recently drilled core which has been mineralogically assessed by geologists on-site.
Jeremy Hanson, 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 flagship Hopper Copper-Gold Project in the 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.
1 HOP-11-04, 57.39 - 67.43m
2 DDH-15-01, 284.29 - 286.94m
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91297