Gunnison Copper Accelerates District-Wide Drill Program, Preparing for Six-Rig Expansion and Upcoming Preliminary Metallurgical Results
Rhea-AI Summary
Gunnison Copper (OTCQB: GCUMF) reported progress on its 2026 district-wide drill program at the Gunnison Copper Project in Arizona. Two drill rigs are currently active, and the initial phase of metallurgical drilling at the Gunnison deposit is complete, with core submitted to independent labs for analysis. Metallurgical drilling has now started at the Strong & Harris deposit, and 68 of a planned 405 column leach tests, plus 63 flotation tests for copper, zinc and silver, are underway.
The 2026 program plans up to 120 drill holes totaling about 138,000 feet (42,000 meters) and over US$15 million in investment. A new core logging and storage facility is expected to be finished by September, enabling an increase from two to six drill rigs. The company expects preliminary drill results in Q4 2026 and full results by mid‑2027.
Positive
- US$15+ million 2026 district-wide drill and metallurgical program budget
- 138,000 feet (42,000 m) of planned drilling across up to 120 holes
- Initial Gunnison metallurgical drilling complete and samples at independent labs
- Column leach tests expanded to 405, with 68 already in process
- Addition of 63 flotation tests targeting copper, zinc and silver recovery
- Planned ramp-up from 2 to 6 drill rigs starting in September
Negative
- Only 7 of 120 planned drill holes completed so far
- Metallurgical optimization drilling only 30% of planned footage completed
- No resource expansion, in-fill or exploration drilling completed yet (0 feet)
- Preliminary drill results not expected until Q4 2026; full results mid‑2027
- Program represents a capital commitment of over US$15 million before results
News Explained
Gunnison’s 2026 drilling remains in early execution:
AI-generated analysis. How Rhea-AI works. Not financial advice.
Two drill rigs active on site, metallurgical drilling at the Gunnison deposit completed and sent to lab for analysis, new core shed nearing completion, and expansion to six drill rigs in September
Phoenix, Arizona--(Newsfile Corp. - August 17, 2026) - Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) ("Gunnison" or the "Company") is pleased to provide an update on its previously announced 2026 district-wide drill program, which is designed to support metallurgical optimization, resource expansion and resource conversion across the Gunnison Copper Project in Arizona.
Two drill rigs are currently active on site, with the initial phase of metallurgical drilling at the Gunnison deposit now complete. Core samples have been collected and submitted to independent laboratories for analysis and will support the Company's ongoing metallurgical optimization program. Metallurgical drilling has now commenced at the Strong & Harris deposit. The Company has also initiated and expanded its column leach testing program, with 68 of the now planned 405 tests (previously 270 tests) currently in process. The metallurgical test program now also includes 63 flotation tests for recovery of copper, zinc, and silver contained in sulfide ores to assess a flotation approach option for the sulfide zones.
Drilling Program Progress
| Drill Plan | Plan | Complete | |||||
| Feet | Meters | Holes | Feet | Meters | Holes | % | |
| Metallurgical Optimization* | 26,200 | 7,974 | 28 | 7,950 | 2,420 | 7 | 30 |
| Resource Expansion and In-fill | 92,800 | 28,243 | 84 | 0 | 0 | 0 | 0 |
| Exploration | 19,000 | 5,783 | 8 | 0 | 0 | 0 | 0 |
| Sub Totals | 138,000 | 42,000 | 120 | 7,950 | 2,420 | 7 | |
*
Construction of Gunnison's new core logging and storage facility is also progressing well and is expected to be completed by September. With the new core shed nearing completion, the Company expects to increase from two to six drill rigs in September as it accelerates the next phase of the program. The expanded campaign will continue to advance key objectives at Gunnison and Strong & Harris, including:
- Metallurgical optimization through comprehensive test work;
- Resource expansion by testing extensions of known mineralization and identifying new mineralized zones;
- Resource conversion by upgrading inferred resources toward measured and indicated classifications; and
- Further defining the broader district-scale mineralized system, including potential for discovery of additional undercover carbonate replacement deposits like Strong & Harris
The 2026 drill program is expected to include up to 120 drill holes totaling approximately 138,000 feet (42,000 meters) and represents an investment of over US
- Metallurgical work includes up to 36 drill holes totaling approximately 33,000 feet (10,000 meters) and up to 405 column leach tests, as well as 63 flotation tests for recoveries of copper, zinc, and silver from sulfide copper ores using a flotation approach, over the next 12 months.
- Resource expansion and conversion drilling includes up to 84 drill holes totaling approximately 105,000 feet (32,000 meters) across the Gunnison and Strong & Harris deposits.
The Company currently expects to publish preliminary results from the 2026 district-wide drill program in the fourth quarter of 2026, with full results anticipated in mid 2027.
Craig Hallworth, President and CEO of Gunnison Copper, commented:
"We are pleased with the progress made during the first phase of our district-wide drilling program. Completing the initial metallurgical drilling at Gunnison and advancing work at Strong & Harris are important milestones as we continue to optimize the project and unlock additional value across the district. With six drill rigs expected to be operating in September, we'll significantly increase the pace of drilling as we begin an exciting phase focused on expanding and upgrading the resource base. We believe the district offers exceptional potential to add additional mineral resources, as well as the possibility of recovering payable zinc and silver byproduct credits, and we look forward to sharing preliminary results as they become available later this year."
Craig Hallworth, President & CEO, and Matt Bingham, SVP of Permitting and External Affairs Inspect Drill Rigs Active at the Gunnison Deposit (June 26, 2026)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2744/309851_gunnison260626139959.jpg
ABOUT GUNNISON COPPER
Gunnison Copper Corp. is a multi-asset pure-play copper developer and producer that controls the Cochise Mining District (the district), containing 12 known deposits within an 8 km economic radius, in the Southern Arizona Copper Belt.
Its flagship asset, the Gunnison Copper Project, has a main pit Measured and Indicated Mineral Resource containing over 846 million tons with a total copper grade of
The Strong & Harris satellite deposit, located approximately 1.9 miles from the Gunnison processing facilities, is also included in the mine plan and hosts an Inferred Mineral Resource of 76 million tons grading
A preliminary economic assessment ("PEA") was completed in March 2026 for the Gunnison Project yielding robust economics including an NPV8% of
In addition, Gunnison's Johnson Camp Asset, which is now in production, is fully funded by Nuton LLC, a Rio Tinto Venture, with a production capacity of up to 25 million lbs of finished copper cathode annually.
Other significant deposits controlled by Gunnison in the district, with potential to be economic satellite feeder deposits for Gunnison Project infrastructure, include South Star, and eight other deposits.
For more information on the Company, please visit our website at www.GunnisonCopper.com.
For additional information on the Gunnison Project please refer to the technical report titled "Gunnison Project NI 43-101 Technical Report, Preliminary Economic Assessment, Cochise County, Arizona, USA" with an effective date of March 18, 2026 filed on SEDAR+ at www.sedarplus.ca.
For additional information on the Johnson Camp Mine please refer to the technical report titled "Johnson Camp Mine NI 43-101 Technical Report, Cochise County, Arizona, USA" with an effective date of March 18, 2026 filed on SEDAR+ at www.sedarplus.ca.
Dr. Roland Goodgame, Senior VP of Project Development of the Company is a Qualified Person as defined by NI 43-101. Dr. Goodgame has reviewed and is responsible for the technical information contained in this news release.
For further information regarding this press release, please contact:
Gunnison Copper Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018
Melissa Mackie
T: 647.533.4536
E: info@GunnisonCopper.com
www.GunnisonCopper.com
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the intention to deploy the Nuton® technology at the Johnson Camp mine and future production therefrom; (ii) the continued funding of the stage 2 work program by Nuton; (iii) the details and expected results of the stage two work program; (iv) future production and production capacity from the Company's mineral projects; (v) the results of the preliminary economic assessment on the Gunnison Project; (vi) the exploration and development of the Company's mineral projects; (vii) the details and timelines associated with the Company's PFS work program; (viii) the expected results of the Company's PFS work program; and (ix) the approval of the certification documents for the 48C tax credits.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, Nuton will continue to fund the stage 2 work program, the availability of financing to continue as a going concern and implement the Company's operational plans, the allocation of the 48C tax credits between the Company and Nuton, the satisfaction of the requirements set forth in Section 48C of the Internal Revenue Code, the estimation of mineral resources, the realization of resource estimates, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to the Company not obtaining adequate financing to continue operations, Nuton failing to continue to fund the stage 2 work program, the failure to satisfy the requirements set forth in Section 48C of the Internal Revenue Code, the breach of debt covenants, risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project, risks related to the delay in approval of work plans, variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions on the Company's business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309851