Carolina Rush Reports Final Results of Initial Brewer Porphyry Drill Program, Intersects Near-Mine Epithermal Gold-Copper Mineralization
Rhea-AI Summary
Carolina Rush (OTCQB: PUCCF, TSXV: RUSH) reported final results from Hole B26C-039, the third and last hole of its initial deep drill program at the Brewer Gold-Copper Project in South Carolina, funded under an earn-in agreement with OceanaGold. Hole 39, collared just west of the former Brewer mine, returned 51.15 meters grading 0.62 g/t gold and 0.22% copper from 214.0 meters, including 12.12 meters grading 1.04 g/t gold and 0.60% copper from 217.5 meters.
The intercept, hosted in diatreme breccia with chalcocite-bearing hydrothermal alteration, lies about 50 meters beyond the nearest hole used in the March 20, 2025 NI 43-101 Mineral Resource Estimate, indicating mineralization remains open outside the current resource footprint. Together with earlier Holes 37 and 38, the program has outlined a shallow northwest-dipping alteration system, identified deep hydrothermal and porphyry-style features, and supports the interpretation that the core copper-gold porphyry target may lie further west-northwest and is still untested. The company will now integrate geological and geochemical data to prioritize potential follow-up drilling, which remains subject to OceanaGold’s earn-in funding commitments.
Positive
- 51.15 m Au-Cu intercept in Hole 39 at 0.62 g/t Au and 0.22% Cu from 214.0 m, including 12.12 m at 1.04 g/t Au and 0.60% Cu
- Mineralization 50 m beyond nearest hole used in 2025 Mineral Resource Estimate, indicating potential for resource expansion outside current footprint
- Brewer resource base disclosed: 192,000 oz Au and 16.7 Mlb Cu indicated, plus 210,000 oz Au and 8.3 Mlb Cu inferred, and additional inferred backfill ounces
- OceanaGold earn-in allows up to 80% interest via US$20 million in exploration expenditures by end of 2030
- Minimum US$1.5 million Q2 2026 spend by OceanaGold under the earn-in has been satisfied, confirming ongoing funding support
- Path to 50% interest for OceanaGold defined through US$8 million total spend by December 31, 2027, aligning incentives for continued drilling
Negative
- Low-resistivity anomaly beneath former Brewer mine confirmed not to be associated with an underlying intrusion, reducing one specific porphyry target concept
- Porphyry-style mineralization remains conceptual and exploratory, with no certainty that further drilling will define economic mineralization, increasing geological risk
- True widths undetermined for reported Hole 39 intervals, adding uncertainty to the exact geometry and volume of the mineralized zone
News Explained
The completed program adds an outside-resource intercept, but ownership and future work remain conditional under the OceanaGold earn-in.
On
The release describes the OceanaGold earn-in as a conditional ownership mechanism: OceanaGold may earn up to
Hole 39 intersected
The release says follow-up targets will be prioritized after integrating the program's data, and that further exploration is subject to the earn-in funding commitment and the company's evaluation; it also states there is no certainty that future drilling will define economic mineralization.
News Market Reaction – PUCCF
In the Jul 13 session, PUCCF gained 3.63%, reflecting a moderate positive market reaction.
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Toronto, Ontario--(Newsfile Corp. - July 13, 2026) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush" or the "Company") reports results from Hole B26C-039 ("Hole 39"), the third and final hole of the initial deep drill program at the Brewer Gold-Copper Project in South Carolina, USA, funded under the Company's earn-in agreement with OceanaGold Corporation (TSX: OGC) (NYSE: OGC) ("OceanaGold"). Hole 39 was drilled approximately 400 meters southeast of Hole 37 and collared just west of the former Brewer mine, intersecting significant gold-copper mineralization and demonstrating lateral continuity of the Brewer epithermal system in a previously untested area.
Hole 39 completes the initial three-hole deep porphyry exploration drilling campaign at Brewer. In conjunction with Holes 37 and 38, results from Hole 39 support the geologic model of a shallow northwest dipping alteration system and strengthens the Company's interpretation that the core of the copper-gold porphyry system is located further west-northwest and remains untested by drilling.
Highlights
- 51 meters grading 0.62 g/t gold ("Au") and
0.22% copper ("Cu") from 214.0 meters, including:- 12 meters grading 1.04 g/t Au and
0.60% Cu from 217.5 meters;
- 12 meters grading 1.04 g/t Au and
- Au-Cu mineralization encountered in Hole 39 represents a 50-meter step out from the nearest intercept used to calculate the current Mineral Resource Estimate;
- Mineralization remains open for expansion and demonstrates continuity of the broader Brewer hydrothermal system;
- The result highlights potential opportunities for future resource growth while complementing the Company's ongoing evaluation of deeper exploration targets.
Carolina Rush CEO, Layton Croft, stated: "Hole 39 demonstrates that Brewer continues to offer opportunities for value creation. While recent drilling has advanced our understanding of the deeper hydrothermal system and potential porphyry targets, Hole 39 has intersected a significant gold-copper interval outside the current resource footprint, highlighting an additional opportunity to grow the existing resource. The completion of this initial drill campaign has substantially improved our understanding of Brewer's geological architecture and provides a stronger foundation for evaluating both resource expansion opportunities and deeper exploration targets as the Company advances planning for the next phase of exploration."
Hole 39 Result
Hole 39 was designed to test the southern margin of a large low-resistivity anomaly that was initially targeted in Hole 37 (see May 4, 2026 news release). The hole was collared just west of the former Brewer mine, which enabled it to also test the near surface breccia-hosted mineralization west of Brewer's current mineral resource.
The hole intersected:
| Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) |
| B26C-039 | 214.0 | 265.15 | 51.15 | 0.62 | 0.22 |
| Including | 217.5 | 229.62 | 12.12 | 1.04 | 0.60 |
| Reported intervals are downhole lengths. True widths have not yet been determined. | |||||
Mineralization is hosted within a diatreme breccia and consists of gold and copper associated with sulfide-bearing hydrothermal alteration characteristic of the Brewer epithermal system. The primary copper bearing mineral identified in hole 39 is chalcocite (Figure 4). The intersection extended mineralization approximately 50 meters from the nearest drillhole (B23C-018) and demonstrates the potential for significant mineralization to extend beyond the limits of the existing Mineral Resource Estimate. Hole 39 was drilled to a total depth of 917m and confirmed that the low-resistivity anomaly below the former Brewer mine is not associated with an underlying intrusion.
Figure 1. Location of Phase 1 Deep Drill Program Holes
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Figure 2. Cross Section A-A' with Geologic Interpretation of Recently Completed Deep Drillholes (view to the west-southwest)
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Figure 3. Cross Section B-B' with Results from Hole 39 (view to the north)
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Figure 4. Examples of breccia hosted Au-Cu mineralization encountered in Hole 39.
Figure 4 description. A) Au-Cu mineralized breccia (1.5m @ 2.0 g/t Au,
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Significance of the Results
The Brewer Project currently hosts a NI 43-101 Mineral Resource Estimate comprising:
- 192,000 ounces of gold and 16.7 million pounds of copper in the indicated category;
- 210,000 ounces of gold and 8.3 million pounds of copper in the inferred category; and
- An additional 129,000 ounces of gold and 9.7 million pounds of copper contained within historical backfill material classified as inferred.
The Mineral Resource Estimate is supported by a technical report entitled "NI 43-101 Technical Report and Mineral Resource Estimate - Brewer Project", with an effective date of March 20, 2025. The report is filed on SEDAR+ (www.sedarplus.ca) and available on the Company's website.
Hole 39 intersected gold-copper mineralization 50 meters beyond the nearest drill hole that was used in the 2025 resource estimate and confirms that mineralization remains open for expansion.
While Hole 39 was not designed as a resource delineation hole, the intersection confirms that significant gold-copper mineralization occurs beyond the boundaries of the current Mineral Resource Estimate and identifies areas for future follow-up drilling.
Completion of Initial Deep Drill Program
Hole 39 marks the completion of the initial three-hole deep drilling campaign conducted under the OceanaGold earn-in agreement.
Collectively, several important conclusions can be made from the recently completed program:
- Hole 37 identified an extensive deep hydrothermal system characterized by widespread alteration, porphyry-style veining and chalcopyrite-bearing copper mineralization;
- Hole 38 confirmed the presence of porphyry-related copper-gold mineralization below Brewer's lithocap within a newly recognized chlorite alteration zone with remnant biotite and A-type quartz veins, strengthening vectors toward a porphyry copper-gold source;
- Hole 39 intersected significant gold-copper mineralization outside the current resource footprint, demonstrating that mineralization remains open beyond the current resource limits and warrants further evaluation.
The Company will now integrate all geological, structural, geochemical, and alteration data from the recent program, which will inform prioritization of drill targets for a potential follow-up program. Any follow-up exploration will be conducted subject to OceanaGold's earn-in funding commitment and the Company's ongoing evaluation of Brewer's broader exploration model.
The Company emphasizes that references to porphyry-style mineralization are conceptual and exploratory in nature, and there is no certainty that further drilling will define economic mineralization.
Quality Assurance and Quality Control Statement
The Company's 2026 exploration diamond core drilling was HQ and/or NQ size. The core was logged and marked for sampling and assaying by geologists contracted by Rush. Samples, typically 2 meters in length, were sawn in half using a diamond core saw and one-half of the core was placed in sample bags and tagged with unique sample numbers, while the remaining half was kept in the core box for reference. Each bagged core sample was shipped to ALS Laboratory in Reno, NV where it was dried, crushed and pulverized to >
Qualified Person Statement
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc, CPG-12116, the Company's Senior Geologist and Exploration Manager and a Qualified Person as defined by NI 43-101.
OceanaGold Partnership
The Brewer Gold-Copper Project is currently being explored in partnership with OceanaGold under an earn-in agreement whereby OceanaGold may earn up to an
About Carolina Rush
Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is a mineral exploration company focused on the discovery of gold and copper deposits in the southeastern United States. The Company is advancing the Brewer Gold-Copper Project in Chesterfield County, South Carolina - a large, underexplored hydrothermal system with a near-surface epithermal gold NI 43-101 mineral resource and compelling exploration potential for deeper porphyry copper-gold mineralization. Brewer is currently being explored in partnership with OceanaGold Corporation (TSX: OGC) (NYSE: OGC) under a US
For further information, please contact:
Layton Croft, President and CEO
or
Jeanny So, Corporate Communications Manager
E: info@thecarolinarush.com
T: +1.647.202.0994
For additional information, please visit our website at http://www.TheCarolinaRush.com/ and our X feed: https://twitter.com/TheCarolinaRush.
Neither 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.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304416