Announcement • May 22
Edge Copper Corporation Reports Initial Assay Results from Ongoing Diamond Drilling Program At Zonia Copper Project
Edge Copper Corporation reported initial assay results from its ongoing approximately 54,000-foot diamond drilling program at its 100%-owned Zonia Copper Project, located in Arizona. The first eleven holes reported from the program confirm broad, near-surface oxide copper mineralization within, adjacent to, and locally beyond, the current pit shell used for the Company's preliminary economic assessment (the "Pit Shell") and support the Company's view that Zonia has meaningful resource-growth potential. Drill Hole Highlights: ZND0014 returned 621 ft grading 0.23% CuT from 79 ft, including 77 ft grading 0.34% CuT and 174 ft grading 0.36% CuT. ZND0003 returned 247 ft grading 0.36% CuT from 170 ft and intersected oxide copper mineralization below the currently modelled base of oxide. ZND0002 returned 306 ft grading 0.25% CuT from 24 ft, including 78 ft grading 0.38% CuT. ZND0009 returned 236 ft grading 0.29% CuT from 504 ft, including 90 ft grading 0.43% CuT. ZND0019 returned 264 ft grading 0.22% CuT from 266 ft, including 67 ft grading 0.45% CuT. The current program is focused on resource conversion, oxide copper-envelope definition, metallurgical data collection and expansion drilling. Infill drilling is designed to increase confidence in the existing resource model and support conversion of Inferred Mineral Resources to the Indicated category, while step-out drilling is designed to test for mineralization along strike to the northeast and southwest, and lateral extensions toward interpreted bounding structures. The next phase of the program features step-out expansion holes designed to test more areas outside the Pit Shell and evaluate whether the oxide copper mineralized zone extends along strike and laterally within the broader structural corridor. Drilling completed to date indicates the deposit remains open along strike, consistent with the Company's geological model and prior interpretations. Management has set an internal planning objective for the current work program to test whether Zonia can support a mineral resource approximately 50% larger than the current estimate. This objective is conceptual and forward-looking, is not a mineral resource estimate and depends on the results of additional drilling, assay, metallurgical, geological modelling and engineering work. There is no certainty that the current program will result in an expanded mineral resource or support a different production profile. For a complete table of the eleven drill holes reported in this release, including ZND0004, which returned no significant intercepts. ZND0014 - Northwestern Margin 621 ft grading 0.23% CuT from 79 ft, including 77 ft grading 0.34% CuT and 174 ft grading 0.36% CuT Hole ZND0014 was drilled along the northwestern margin of the deposit near the limit of the Pit Shell. The drill hole was oriented at -52 degrees toward the southeast and intersected a broad zone of oxide copper mineralization extending along the northwestern margin of the current resource area. The broad interval of oxide copper mineralization intersected in the hole suggests potential to expand the oxide copper mineralized zone and may support future evaluation of pit-shell expansion to the northwest. ZND0003 - Southeastern Margin 247 ft grading 0.36% CuT from 170 ft Hole ZND0003 was drilled near the southeastern margin of the currently defined resource at an inclination of -45 degrees toward the southeast and intersected a broad zone of oxide copper mineralization extending beyond the limit of the Pit Shell. The hole also intersected oxide copper mineralization below the currently modeled base of oxide. The new results are expected to support refinement of the modelled base of oxide in this area when incorporated into the updated geological and resource models. When combined with IP chargeability data and the Company's geological interpretation, the drilling suggests the Zonia porphyry system may extend to the southeast beyond the current known resource. ZND0002 - North-Central Deposit Area 306 ft grading 0.25% CuT from 24 ft, including 78 ft grading 0.38% CuT Hole ZND0002 was drilled in the north-central area of the deposit at an inclination of -48 degrees toward the southeast and intersected a broad, shallow zone of oxide copper mineralization. The hole confirms continuity of near-surface mineralization in an area targeted for inferred-to-indicated resource conversion drilling and supports the current geological and resource model. The intercept also supports further refinement of the modelled oxide boundary in this area. ZND0009 - South-Central Deposit Area 236 ft grading 0.29% CuT from 504 ft, including 90 ft grading 0.43% CuT. Hole ZND0009 was drilled in the south-central area of the deposit. The drill hole was oriented at -48 degrees toward the southeast and collared in the hanging wall of the interpreted fault bounding the western side of the deposit. After passing through the interpreted fault zone, the hole intersected a broad zone of oxide copper mineralization. The hole confirms continuity of the oxide copper mineralized zone in an area targeted for inferred-to-indicated resource conversion drilling and supports the current geological and resource model. ZND0019 - Central Deposit Area 264 ft grading 0.22% CuT from 266 ft, including 67 ft grading 0.45% CuT. Hole ZND0019 was drilled in the central area of the deposit at an inclination of -49 degrees toward the southeast and intersected a broad, shallow zone of oxide copper mineralization. The hole confirms continuity of near-surface mineralization in an area targeted for inferred-to-indicated resource conversion drilling and supports the current geological and resource model. An updated structural interpretation suggests the Zonia porphyry system is bounded to the northwest and southeast by northeast-trending faults. Drilling completed to date indicates the deposit remains open along strike and laterally between these interpreted bounding faults, highlighting the potential for continued resource growth within this broader structural corridor. The Company is also planning an additional induced polarization ("IP") survey to define the extent of the northeast-trending chargeability anomaly and assist in targeting potential extensions of the Zonia porphyry system beyond the current resource area. The existing chargeability anomaly has an interpreted strike length of approximately 4 km and remains open to the southwest. All drill core from the current program is being scanned on site by GeologicAI using high-resolution RGB imaging, LiDAR, hyperspectral and X-ray fluorescence ("XRF") sensors. The resulting datasets support geological logging, alteration mapping, mineralogical characterization, targeting and integration into the Company's evolving geological model.
