Announcement • Jul 06
King Copper Discovery Corp Receives Dia Approval for 36,010-Metre Drill Program At the Colquemayo Project
King Copper Discovery Corp, through its 100%-owned subsidiary in Peru, Aurora Copper Peru SAC, has received approval of its Declaración de Impacto Ambiental (DIA) for the Colquemayo Project, located in southern Peru. The approval of the DIA provides the environmental certification required to proceed toward the Company’s exploration and drilling activities. The permit authorizes up to 36,010 metres of diamond drilling from 40 drill platforms comprising up to 59 drill holes. The Company is fully funded for the 36,010-metre drill program. Historical drilling identified extensive copper mineralization across a large hydrothermal system, including significant intercepts such as 237.3 metres with 2.4% copper in COQ-10-36. Recent technical work, including the relogging of over 20,000 metres of historical drill core and a comprehensive geological reinterpretation, has strengthened the understanding of the Project and identified several priority targets for drill testing below the historic drilling. The approved DIA authorizes up to 36,010 metres of diamond drilling, up to 59 drill holes from 40 drill platforms, exploration activities across multiple priority target areas identified through the Company’s geological reinterpretation and targeting work, and supporting infrastructure required to execute the planned exploration program. The approved exploration footprint provides King Copper with the flexibility to systematically evaluate multiple target areas across the Colquemayo Project and execute a phased exploration strategy designed to target new discoveries within this large copper system. Prior drilling returned up to 15.15 metres of 27% copper, within a broader intercept of 237.3 metres of 2.4% copper starting at a down-hole depth of 306.25 metres in hole COQ-10-36. In addition to targeting extensions to this high-grade epithermal mineralization, indications of an underlying copper porphyry system identified in prior drilling will be followed up. The exploration model at Colquemayo draws on its similarities to linked epithermal and porphyry systems in the Andes. The Colquemayo Project is located in an area with copper-producing mines, including Cerro Verde, Quellaveco, Cuajone and Toquepala, in one of the world's most prolific copper-producing regions. Historical exploration at Colquemayo identified extensive high-grade enargite mineralization across multiple breccia-hosted zones below a lithocap extending approximately 12 kilometres in strike length and 3 to 4 kilometres wide. Since acquiring the Project, King Copper has completed a comprehensive review of historical geological, geochemical and drilling data, including detailed core relogging, geological reinterpretation and 3D geological modelling. This work has provided valuable geological insights that have enhanced the Company’s understanding of the broader mineralized system and helped identify several priority targets for follow-up drilling, including copper porphyry targets below the enargite breccias. The approved 36,010-metre drill program is designed to drill test priority targets identified through geological reinterpretation, core relogging and geological modelling, evaluate mineralization below the depths tested by the historical drilling, and advance the Company's understanding of the relationship between the extensive high-sulphidation epithermal system and multiple underlying porphyry targets. The receipt of the DIA marks the culmination of extensive environmental, technical and stakeholder engagement efforts and represents a critical step toward executing the Company's exploration strategy. With the DIA now approved, the Company is advancing toward mobilization and execution of its planned 36,010-metre exploration drilling program, including completion of the logistical and regulatory requirements. Additional details regarding program timing, target prioritization and operational planning will be provided as these activities progress. The scientific and technical information contained in this news release has been reviewed and approved by Douglas Kirwin, M.Sc., FGS, FAusIMM (CP), FSEG, a technical advisor to the Company and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101).
