Canada One Receives 5-Year Drill Permit for Copper Dome Project
Rhea-AI Summary
Canada One Mining Corp (TSXV: CONE) (OTC Pink: COMCF) has secured a significant 5-year exploration drilling permit from the British Columbia Ministry of Mining and Critical Minerals for its 100%-owned Copper Dome Project in Princeton, BC.
Historical drilling results from 2007 at the Friday Creek Zone showed notable intercepts including 156m of 0.09% Cu with 10m of 0.7% Cu and 0.8 g/t Au, and 42m of 0.28% Cu including 6m of 1.5% Cu and 0.7 g/t Au. The Combination Creek Zone drilling in 2010-2011 yielded intercepts of 50m of 0.15% Cu, 45m of 0.17% Cu, and 102m of 0.14% Cu.
The company's focus will be on the newly identified Boundary Zone, discovered during 2023 exploration work. This zone is strategically located approximately 1.5km from Hudbay Mineral's Copper Mountain Mine super pit and 500m northwest of the Combination Creek historical drilling area.
Positive
- Secured 5-year drilling permit for 100%-owned flagship project
- Historical drilling showed significant copper mineralization with grades up to 1.5% Cu
- Strategic location near Hudbay Mineral's Copper Mountain Mine
- New Boundary Zone identified for exploration
Negative
- Historical drilling results show relatively low-grade copper mineralization in most intercepts (0.09-0.28% Cu)
- Previous drilling data considered 'historical' and may not meet current standards
News Market Reaction
On the day this news was published, COMCF gained 24.67%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2025) - Canada One Mining Corp. (TSXV: CONE) (OTC Pink: COMCF) (FSE: AU31) ("Canada One" or the "Company") is pleased to announce the British Columbia Ministry of Mining and Critical Minerals has issued a 5-year exploration drilling permit for the Company's
Mr. Peter Berdusco, President and CEO of the Company commented: "This represents a significant milestone for Canada One and now allows us to fully explore the Copper Dome project through to discovery. We look forward to our next steps in exploration, specifically, in defining our drill targets at the newly identified Boundary Zone."
Historical Drilling
Diamond drilling by the Company in 2007 at the Friday Creek Zone, located in the northwest section of the Property, returned the following highlighted intercepts (assessment report 33853):
- DDH FC-11: 156m of
0.09% Cu, including 10m of0.7% Cu and 0.8 g/t Au - DDH FC-12: 42m of
0.28% Cu, including 6m of1.5% Cu and 0.7 g/t Au
Diamond drilling by the Company in 2010 and 2011 at the Combination Creek Zone, located in the northeast section of the Property, returned the following highlighted intercepts (assessment report 33070):
- DDH PT-10-01: 50m of
0.15% Cu, including 12m of0.28% Cu - DDH PT-10-02: 45m of
0.17% Cu, including 10m of0.44% Cu - DDH PT-11-18: 102m of
0.14% Cu, including 6m of0.29% Cu
Boundary Zone
The newly identified Boundary Zone, discovered during the Company’s 2023 exploration field work, will be the primary focus of the Company’s drill targeting. The planned upcoming 2025 field season will identify and prioritize specific targets based on geological, geochemical, geophysical and structural data. The zone is located roughly 1.5km from Hudbay Mineral’s Copper Mountain Mine super pit and 500m northwest of the Combination Creek historical drilling.
Prior drilling was performed to the standards at the time and are considered "historical" in nature.
About Canada One
Canada One is a resource exploration company operating in Canada. From exploration to discovery to resource development, the Company is focused on creating growth and generating value for its investors and communities as it meets the growing global demand for critical metals. Copper Dome is the Company’s flagship project with its northern border situated 1.5km from Hudbay Mineral’s Copper Mountain Mine deposits.
About the Copper Dome Project
The Project lies within the lower portion of the Quesnel Trough porphyry belt, a well-established mining district. The belt extends north from the Copper Mountain Mine, through the Elk, Brenda, Craigmont, Highland Valley, and New Afton mines. Previous drilling on the Property has confirmed the presence of high-grade copper associated with northeast running geological structures similar to those seen at the Copper Mountain Mine:
Past exploration has identified the presence of copper (Cu), palladium (Pd), platinum (Pt) and gold (Au) mineralization on the Property
Multiple zones of mineralization have been discovered on the Property to date
Excellent infrastructure provides year-round access with low-cost exploration and low jurisdictional risk
Past exploration: Airborne magnetics, electro-magnetics (EM) and 51km of induced polarization (IP) surveyed over areas of interest, 2,253 soil and 378 rock samples collected, over 8900m of diamond drilling and over 1km of trenching performed
Acknowledgement
Canada One acknowledges that the Copper Dome Project is located within the traditional, ancestral and unceded territory of the Smelqmix People. We recognize and respect their cultural heritage and relationship to the land, honoring their past, present and future.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Freeman Smith, P.Geo, a Qualified Person for the purposes of National Instrument 43-101.
For further information, interested parties are encouraged to visit the Company's website at www.canadaonemining.com, or contact the Company by email at ir@strategixir.com, or by phone at 1.877.844.4661.
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer
Forward-Looking Statements
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward looking statements. Forward-Looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-Looking statements in this press release relate to, among other things: statements relating to the anticipated timing thereof and the intended use of proceeds. Actual future results may differ materially. 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. Forward-Looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249466
FAQ
What are the key drilling results from Canada One Mining's (COMCF) Copper Dome Project?
Where is COMCF's Boundary Zone located in relation to other mining operations?
What is the duration of Canada One Mining's (COMCF) new drilling permit for Copper Dome?
When was the Boundary Zone discovered at COMCF's Copper Dome Project?
