Tickers: XTSX:LLC
Tags: Mining
Vancouver, BC / TheNewswire / October 12, 2017 - Lorraine Copper Corp. ("Lorraine Copper) (TSX-V: LLC) is pleased to announce that drilling has started on the Lustdust copper, gold, silver and zinc property located in north central British Columbia approximately 140 km northwest of the community of Fort St. James.
An exploration program consisting of geochemical and geophysical surveying has been underway since August 21. A three hole drilling program is now underway to complete certain in-fill holes to verify continuity in three of the known zones of mineralization on the property. The 2017 exploration program and planned winter data compilation project are being completed in order to plan for a large drilling program in 2018.
Lustdust is a large integrated skarn, carbonate replacement deposit (CRD) and related porphyry system that includes gold-silver-zinc mantos, gold silver rich copper skarn, limestone hosted gold, porphyry Cu-Mo (Au) and precious metal quartz-vein mineralization. In excess of 334 drill holes totalling over 74,000 meters have been completed. An initial resource was published in 2010 (R. Simpson, P.Geo: Technical Report; filed by Alpha Gold, now ALQ Resources), on a small area of the mineralized system known as the Copper Canyon Skarn. At a 1.5% Cu cut off the indicated resource is 910,000 tonnes grading 1.56% Cu, 1.68 g/t Au and 39.3 g/t Ag and the inferred resource is a further 1.96 million tonnes grading 1.34% Cu, 1.72 g/t Au and 32.1 g/t Ag. Geophysical surveys indicate a good potential for discovering additional skarn mineralization and magnetic and soil geochemical sampling suggest that the mineralizing system extends well beyond the known mineralized zones. The prospective area is in excess of 6 km in length and 4-5 km wide.
The Lustdust Property lies along the western border of Serengeti Resources Inc.'s Kwanika Creek copper-gold property (recently published a PEA) and is approximately 30 km south of Lorraine Copper's 49% owned Lorraine Copper-Gold Property which is a joint venture with Teck Resources Limited.
Lustdust is under option to 1124245 B.C. Ltd., a private sole purpose company owned by the Oxygen Capital Group, whereby 1124245 may purchase a 100% interest, subject to certain royalties and terms in Lustdust (see news release dated June 29, 2017 for the agreement terms). One of the more significant benefits of this agreement is that it will allow Lorraine Copper Corp to become a significant shareholder of 1124245 B.C. Ltd. which will transition into a public company before June 1, 2018.
J.W Morton P.Geo, is the qualified person, as defined by NI 43-101, who has reviewed and takes responsibility for this news release.
J.W.(Bill) Morton P.Geo.
JW. (Bill) Morton, P.Geo, President
Lorraine Copper Corp.
Contact : Telephone : 604-681-7913; Toll Free : 888-656-6611
About Lorraine Copper Lorraine Copper holds is a Canadian mineral exploration company that is acquiring and advancing copper, gold and molybdenum projects at intermediate to advanced stages that hold significant resources. Lorraine Copper currently owns three properties all of which have defined resources: Lorraine, OK and Lustdust. For more information please visit the Company's website at www.lorrainecopper.com.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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