CAVU Mining Files Hopper 43-101 and Amends Project Portfolio
Vancouver, British Columbia--(Newsfile Corp. - February 16, 2022) - CAVU Mining Corp. (CSE: CAVU) (OTCQB: CAVVF) (FSE: 8NQ) ("CAVU" or the "Company") is pleased to provide a corporate update regarding the Hopper Project and its Project Portfolio.
Hopper NI 43-101 Technical Report
CAVU will be filing a National Instrument 43-101 Technical Report on the Hopper Project on SEDAR. The report was prepared by Jean Pautler, P.GEO and includes all work completed on the project to date as well as a detailed drill plan to advance the porphyry target. An excerpt of the NI 43-101 executive summary reads:
"The Hopper Project constitutes a property of merit based on the presence of:
- Significant porphyry copper mineralization over a 2.3 km by 650m area (open to the south and east), which has only been tested by two diamond drill holes (0.22% Cu over 114.38m in DDH21-06 and 0.17% Cu over 162.85m in DDH15-05)
- Significant elevated gold, molybdenum and silver values accompany the copper
- Skarn and porphyry related mineralization at Mitsu West, which yielded 0.43% Cu, 0.06 g/t Au and 1.83 g/t Ag across an approximate true width of 51.3m in Trench 14-11
- A significant 3.6 km by 2.6 km ≥100 ppm copper soil geochemical anomaly (with a 1 by 1 km donut low near the centre, possibly related to thicker overburden) ± elevated gold, silver and molybdenum values, and untested geophysical anomalies
- Copper skarn mineralization intermittently exposed over an 800m by 1.5 km area and over 400m in elevation in the Copper Castle zone (with zones of precious metal enrichment associated with second stage retrograde alteration)
- Additional skarn mineralization north of the Hopper pluton."
The report will also be made available on www.cavumining.com.
Newly Acquired Quesnel Copper Project
CAVU has acquired the Quesnel Copper Project ("Quesnel Copper") in BC, 30 km northwest of the Mt. Polley mine in the Quesnellia Terrane. Quesnel Copper is 30 km2 in total, located less than 40 km from Quesnel and accessible by logging roads. The Quesnel Copper Project is an early-stage project with discovery potential and was acquired through staking. A location map is shown in figure 1.
The Quesnel Copper Project is located in a similar geophysical domain as the Mt. Polley Mine and contains a 90th percentile gold and 99th percentile copper sample from a BCGS regional geochemical survey. No significant exploration has been undertaken to date.
The Project's proximity to the Mt. Polley mine is not indicative of mineralization on the Project itself.
Figure 1. Location of the Quesnel Copper claims.
To view an enhanced version of Figure 1, please visit:
Kitimat option cancellation
CAVU Mining, after careful consideration of the exploration results received to date, has decided not to continue with the exploration program and has provided cancellation notice pursuant to the option agreement with Pacific Empire Minerals Corp.
Data pertaining to the Quesnel Copper Project is available in public databases and has not been independently verified by the Company. All data in the 43-101 Report was verified by the author, Jean Pautler, P.Geo., unless otherwise noted.
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 this 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. For more information visit www.cavumining.com.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113963