Vancouver, BC – August 11, 2021 – Wedgemount Resources Corp. (CSE: WDGY) (“Wedgemount” or the “Company”), is pleased to update shareholders on progress to date on 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.
- The Company has collected over 650 soil samples, 82 rock samples, and 118 alteration chips from across the property.
- Multiple new zones of porphyry-related alteration and mineralization have been identified.
- The next phase will include additional geological mapping and sampling and IP geophysics to aid in drill targeting
Mark Vanry, President and CEO of Wedgemount commented, “Our technical team has done an outstanding job finding previously un-sampled zones of porphyry-related mineralization outcropping in multiple areas of the project. In particular, it’s extremely satisfying to discover multiple new mineralized zones on tenures which Wedgemount staked for minimal cost surrounding our historically explored “Red Claims” during 2021. We continue to be very positive on the potential for the area of historic Red drilling where the alteration envelope is significantly larger than the area of historic work during the 1960’s and early 2000’s.”
The focus of the 2021 Phase 1 exploration program at Cookie is 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 targets such as the five kilometer long, Red to Amber corridor on the eastern side of the property (see News Release dated July 20th, 2021) as well as the over six kilometer east-west trend of seven under-explored copper occurrences (e.g., ARD, Kim, Overstall, Verna) on the western side of the property have so far been investigated.
Work included 650 soils samples that were collected along regional ridge-top transects and also on tightly spaced sample grids. Rock-chip samples totaling 118 have been collected for alteration mineralogy characterisation and over 80 rock samples have been collected for full geochemical analyses. Based on the identification of numerous zones of porphyry-related potassic, propylitic and phyllic alteration with associated copper-bearing sulfides, additional mapping and sampling is planned. Contingent on results from these geochemical surveys, an induced polarization (IP) geophysical survey will be completed over priority areas. Assay results will be released once all data has been returned from the lab.
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.
Figure 1. Map showing location of 2021 sample locations and main porphyry-related copper + gold exploration targets on the Cookie project.
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 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.
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