Announcement • Jun 22
Copper Giant Resources Corp. Reports Assay Results From Deep Infill Hole MD-064 And Directional Daughter Hole MD-063 At Mocoa Copper-Molybdenum Porphyry Project
Copper Giant Resources Corp. reported assay results from deep infill hole MD-064 and directional daughter hole MD-063 at its flagship Mocoa copper-molybdenum porphyry project in Putumayo, Colombia. These results continue to validate the model behind the Company's 1,120 million tonnes Inferred resource containing 12.7 billion pounds of copper-equivalent (CuEq) (7.7 billion pounds of copper at 0.31% Cu and 1.0 billion pounds of molybdenum at 0.039% Mo). MD-064 intersected 1,052 metres of continuous mineralization, including 486 metres of 0.57% CuEq (0.41% Cu and 0.029% Mo), exceeding the current Mineral Resource Estimate (MRE) average of 0.51% CuEq and validating the grade and continuity predicted by the resource model ahead of the Preliminary Economic Assessment (PEA). The hole also delivered the first modern confirmation of the western breccia, establishing a third drill-tested mineralized breccia corridor at Mocoa and supporting the interpretation of a large, multi-phase porphyry system with multiple mineralized centers. MD-063 extended continuous mineralization below the current conceptual pit, through ground previously modelled as waste, confirming that the system continues at depth and to the south toward the corridor with La Estrella, where the Company's third drill rig is conducting maiden drilling from the other end. Together the results increase geological confidence in the resource model and set expectations of potential additional resource growth ahead of the planned upcoming PEA. MD-064 confirmed continuity across the deposit: 1,052 metres of continuous mineralization from 155 metres, including 486 metres of 0.57% CuEq (0.41% Cu and 0.029% Mo), exceeding the current MRE average of 0.51% CuEq, with a higher-grade core of 115 metres of 0.65% CuEq from 552 metres downhole. Third mineralized breccia corridor confirmed: 180 metres of 0.44% CuEq (0.36% Cu and 0.015% Mo), including 72 metres of 0.55% CuEq (0.51% Cu and 0.008% Mo). Mocoa now comprises three drill-tested mineralized breccia corridors, consistent with a multi-phase porphyry system with multiple mineralized centers. MD-063 extended mineralization below the current conceptual pit through ground previously modelled as waste, returning 303 metres of 0.41% CuEq (0.25% Cu and 0.031% Mo) within 808 metres of continuous mineralization, confirming continuity at depth and to the south and pointing to potential resource growth and pit-design upside. The corridor toward La Estrella is being closed from both ends: MD-063 extends mineralization south and at depth, while the Company's third rig conducts maiden drilling at La Estrella from the other end. Results pending. Multiple catalysts ahead: an updated MRE, second stage of metallurgical test, the planned upcoming PEA, and assay results from La Estrella provide a strong pipeline of near-term catalysts. Copper Giant uses directional drilling to steer multiple daughter holes from a single drill pad, testing several targets without building new pads or roads in Mocoa's steep terrain. This delivers more geological information per metre at lower cost and with less surface disturbance, and it accelerates potential MRE conversion and expansion ahead of the PEA. Daughter holes are drilled to a planned length and are typically still in mineralization when completed by design. Hole MD-063 was drilled as a directional daughter hole from MD-056 to further evaluate the southern expansion potential of the Mocoa system below the current conceptual pit design. The hole forms part of a systematic follow-up to previously reported holes MD-054, MD-056, MD-058 and MD-061, which progressively identified stronger mineralization along the southern margin of the current MRE footprint. Historically, this area was only sparsely tested by shallow and sub-vertical drilling, leaving the deeper extent and continuity of the system largely unconstrained. MD-063 returned broad and continuous intervals of copper and molybdenum mineralization below the current conceptual pit design, including 808 metres of 0.31% CuEq (0.20% Cu and 0.021% Mo), from kick-off point, including 303-metres of 0.41% CuEq (0.25% Cu and 0.031% Mo) starting from 541m downhole. The results demonstrate the continuity of copper-molybdenum mineralization below the current conceptual pit and improve the Company's understanding of the deeper portions of the deposit. The intercepts suggest that areas previously constrained by sparse historical drilling may host significant mineralization, highlighting opportunities for future resource growth and optimization of the conceptual pit design. Mineralization remains open toward the La Estrella target area, where drilling is currently underway. MD-064 was drilled to confirm the continuity and grade of the model across the deposit and to test the structural controls of the system, increasing the geological confidence that underpins the resource and the upcoming potential PEA. The hole intersected 1,052 metres grading 0.46% CuEq (0.34% Cu and 0.024% Mo) from 155 metres, including 486 metres grading 0.57% CuEq (0.41% Cu and 0.029% Mo). Higher-grade intervals include 115 metres grading 0.65% CuEq (0.34% Cu and 0.058% Mo) from 552 metres. The final 180 metres of the hole correspond to the western breccia system and intersected 180 metres grading 0.44% CuEq (0.36% Cu and 0.015% Mo) from 1,001 metres, including a higher-grade interval of 72 metres grading 0.55% CuEq* (0.51% Cu and 0.008% Mo). With the successful confirmation of the western breccia, the Mocoa system now comprises three drill-tested mineralized breccia corridors--western, central and eastern--further strengthening the interpretation of Mocoa as a large, multi-phase porphyry system with multiple mineralized centers. The results also are consistent with, and locally exceed, grades predicted by the current MRE block model, further validating the Company's geological interpretation and the spatial predictability of higher-grade domains within the deposit. Importantly, these results continue to demonstrate that the current resource model is effectively predicting both grade distribution and mineralized continuity in areas of tighter drill spacing, supporting the ongoing advancement of Mocoa toward future engineering and potential PEA-level evaluation.
