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CopAur Minerals Inc. reports developments tied to its Nevada-focused gold project portfolio. The company describes itself as a mine development company advancing gold projects in Nevada, with the Kinsley Mountain Gold Project as its flagship asset. Kinsley Mountain is a Carlin-style gold system located in eastern Nevada, approximately 80 km south-southwest of West Wendover.
Recurring CopAur news includes Kinsley Mountain technical work, geology and mineralization model updates, NI 43-101 Preliminary Economic Analysis activity, consultant appointments, and investor presentation updates. Company announcements also cover Troy Canyon gold-silver exploration in Nye County, surface sampling and mapping results, partner-funded earn-in arrangements for non-core properties, and equity exposure to related mineral exploration companies.
CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF) has announced plans to secure a C$1 million loan from an arms-length lender, subject to regulatory approval. The loan will have a 12% annual interest rate and a 6-month maturity. As a bonus, CopAur will issue 2.5 million non-transferable share purchase warrants to the lender, exercisable at C$0.20 per share for 12 months.
The company intends to use the loan proceeds for working capital and to partially fund the acquisition of Nevada Sunrise's 18.74% stake in the Kinsley Mountain Gold Project. If completed, this acquisition will give CopAur 100% ownership of the project. The remainder of the acquisition cost will be covered by issuing 1 million CopAur common shares to Nevada Sunrise.
CopAur Minerals plans to initiate baseline surveys at its 100%-owned Troy Canyon Gold-Silver Property in Nye County. The site has never been drilled and features high-grade mineral samples.
Surveys will cover wildlife, vegetation, and cultural resources, paving the way for a BLM Plan of Operations permit submission. This will enable exploration drilling to advance significant underground and surface anomalies.
Highlights include samples with 42.7 g/t gold and 91 g/t silver from historic mines. A 2007 survey identified a prominent soil anomaly extending 650m southwest from the Locke Gold Mine.
The project, historically mined between 1948-1950, produced 643 ounces of gold and 660 ounces of silver. Modern exploration techniques will be systematically applied for the first time.
CopAur Minerals (COPAF) has begun a maiden drill program at the Williams property in British Columbia's Golden Horseshoe. The 2024 phase 1 drilling campaign targets the expansion and extension of mineralization discovered in drill hole WM22-02, which previously returned 50 meters of 2.2 grams per tonne gold in 2022. This phase includes up to 2,000 meters of diamond drilling with three drill holes from the same pad at the GIC prospect. Apex Geoscience will manage the program, leveraging their experience from nearby projects. CopAur aims to expedite the assaying of the first hole to report results by summer 2024.
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