Copper Road Resources Inc.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
82 Richmond Street East Toronto, Ontario Canada M5C 1P1 |
| Tel No.： | 416-931-2243 |
| Web Site： | www.copperroad.ca |
| E-mail： | jtimmons@copperroad.ca |
| Contact Person： | John Timmons |
| Position： | President & CEO |
| Traded Market： | TSX-V |
| Traded Symbol： | CRD |
| Outstanding Shares： | 42.3 million |
| 52 Week High： | $ 0.295 |
| 52 Week Low： | $ 0.06 |
| Present Price： | Click Here |
Copper Road Resources is a Canadian company exploring for Copper-dominant polymetallic deposits at its 21,000-hectare district scale Copper Road Project near Batchewana Bay, Ontario, Canada.
- Near-surface Copper 20 km from the TransCanada
- Mineralized zones across 30 km with the potential for multiple discoveries
- Two past Copper producers in a large-scale district
- Strong mining jurisdiction with robust ESG accountability
- Excellent location and site access
- Exploring for the parental intrusion driving the widespread mineralization
- Strong Capital structure: 42M shares outstanding
Why Explore for Copper?
EV/Green Power Transition
- Approximately 1.4 Billion vehicles globally
- Vehicles per Capita: China: 219 per 1,000; India: 62 per 1,000
- Approx. 20 million EVs globally in 2022 (Bloomberg)
- Only 1.38 billion vehicles left to build and charge: Approximately 60 pounds of copper per EV
- Grid Upgrades/Charging Stations; Power Generation and Transfer
Traditional Uses
- India: Air Conditioner saturation approx. 5%
- Growing global population = Growing global demand
Copper Road Project, Ontario, Canada
Copper Exploration in Ontario with District-Scale Discovery Opportunities
The Copper Road Project is situated on the eastern flank of the Mid-Continent Rift within the Proterozoic Keweenawan Group, located approximately 85 km north of Sault St. Marie, Ontario.
The Mid-Continent Rift is the same structure that formed Lake Superior and has hosted multiple world class copper and polymetallic mines in Canada and the United States. The Keweenawan peninsula copper-mining region in the U.S. was mined for more than 150 years.
- Two past Copper producers over a 21,000-hectare project
- Tribag Mine: Breton, West and East Breccia Project: Historical Production of 1,218,000 tons grading 1.52% Cu
- Coppercorp Mine: Historical Production of 1,000,000 tons @ 1.16% Cu
- Excellent location and site access
- Under-explored district due to staking closures and fragmented ownership
- Multiple Mineralized zones across 30 km with the potential for multiple discoveries
- Exploring for the parental intrusion driving the widespread mineralization
Tribag Mine Zone Exploration 2022
3,000-meter drilling campaign confirmed near-surface mineralization at Breton and East breccias starting at shallow depths.
- Breton Breccia: Hole TR22-006
- 100.39m at 0.32 % Cu and 2.99 g/t Ag (0.35% CuEq)
- Including: 30m at 0.58 % Cu and 4.39 g/t Ag (0.62% CuEq)
- Including: 7m at 1.02 % Cu and 8.39 g/t Ag (1.09% CuEq)
- East Breccia: Hole TR22-008
- 48m at 0.27% Cu, 4.84 g/t Ag, 0.01% Mo, 0.25 g/t Re (0.36% CuEq)
- 9m at 0.60 % Cu, 6.83 g/t Ag, 0.15% Mo, 0.56 g/t Re (1.47% CuEq)
- Including: 5m at 0.87% Cu, 9.38 g/t Ag, 0.26% Mo, 0.95 g/t Re (2.35% CuEq)
(See October 13, 2022 news release)
Future Exploration at Tribag Mine Zone
Breton Breccia:
- 400m+ drill holes to test for high grade copper at depth in the heart of the Breton Breccia based on historical assays
- Near-Surface drilling (200m) to delineate additional copper within the heat of the Breton Breccia
East Breccia:
- Additional near-surface drilling to delineate further near-surface copper / molybdenum / silver / rhenium
Identify and explore additional untested area targets:
- Mitchell Lake, Mountain Breccia, additional resistivity lows similar to West and Breton breccias
Future Exploration Targets
-
Jogran-Richards: Known porphyry and breccia mineralization associated with larger resistivity low and both magnetic highs and lows; undergoing detailed historical DDH/Geophysics compilation, test MMI soil lines.
Richards Breccia:
1997 Diamond Drilling: drilled to a depth of 80 m: Open at Depth
27 metres @ 1.46% Cu, 0.17 g/t Au, 3.8 g/t Ag
40 metres @ 0.86 % Cu, 0.06 g/t Au, 3.5 g/t Ag
- Creek Zone: Central to the Tribag Breccia Complex, known fault breccia mineralization, and may host the west extension of the large East Breccia Zone along a prominent D4 fault, as indicated by open historical MMI soil sampling anomalies; historic DDH intersected altered dioritic intrusion, new test MMI line.
- Cedar Lakes: Isolated mag high corresponding to historical IP anomaly; previous DDHs (off the main anomaly) intersected anomalous Cu (up to 0.3% Cu) over moderate intervals thru out the holes, generally increasing in grade downhole; test MMI lines.
-
Gimlet SW: Prominent mag high along the Keweenawan/Archean fault contact; historical drilling (away from the high) intersected numerous isolated intervals of anomalous Cu-Au (up to 0.5% Cu, 0.4 g/t Au) associated with porphyry dykes; test MMI line.
- Mount “Millagain”: Moderate mag high proximal to Jogran/Richards mineralization; silicified and/or hornfelsed MV with very fine Mag-Py±Cpy fracture network which may be the carapace to an underlying porphyry intrusion; test MMI line.
- Mitchell Lake: Structural intersection defined by SRK, Cu in lake sediment anomaly, granite breccia in shallow historical drilling to the SE.
Future Catalysts
Multiple Discovery Opportunities
- Continue to establish near-surface copper tonnage/grade in multiple mineralized breccias at Tribag zone while defining and exploring new regional targets
- Systematic exploration at Jogran/Richards and Coppercorp zones to discover additional larger regional targets
- Discover what is driving 30 km of widespread Cu-Au-Mo-Ag mineralization along Copper Road
Management
John Timmons, President, CEO and Director
A seasoned mining executive having worked with Guyana Goldfields for 16 years
8 million ounces of Gold discovery/development/operation
Has held various senior corporate and operational roles including Corporate Manager and Risk Manager/Head of Security for the Aurora Mine in Guyana.
Carmelo Marrelli, Chief Financial Officer
CEO of Marelli Group of Companies
Consulting Geologists:
Augusto Flores, QP
Guyana Goldfields discovery Team
Jesus Oliva
12 years with Guyana Goldfields
Former Barrick Geologist (copper porphyry exploration)
Management Advisory Team:
Alex Carpenter: Community Development
Castlewood Capital: Capital Markets Advisor
Board of Directors
Mark Goodman, Chairman
Past president of Dundee Corporation. He has previously sat on the board of Nighthawk Gold, Corona Gold Corporation, Ryan Gold and Valdez Gold
Birks Bovaird
Director and Chairman of the Board of Energy Fuels Inc. He also currently serves as Chairman of the Board of Buccaneer Gold Corp. and an Independent Director and Chair of the Compensation Committee of Noble Mineral Resources
Matthew Rees, M.Sc., P.Geo.
Chief Geologist at Iamgold, former Geologist at Noranda/Falconbridge
Eric Szustak
Chairman of Quinsam Capital Corporation (CSE:QCA)
Michael Waring
37 years experience of professional asset management covering small and mid-cap stocks
On November 03, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Oct. 16, 2023.
Number of shares: 1.75 million flow-through common shares
Purchase price: 10 cents per flow-through share
Warrants: 1.75 million share purchase warrants to purchase 1.75 million shares
Warrant exercise price: 15 cents for a two-year period
Number of placees: one placee
Finder's fee: $12,250, 122,500 warrants
Finder's warrants terms: Each warrant entitles the holder to purchase one common share at the price of 10 cents for period of 24-months from the date of issuance.
On October 20, 2023, Further to the news release dated Oct. 16, 2023, Copper Road Resources Inc. has closed its upsized non-brokered private placement of 1.75 million flow-through units of the company at a price of 10 cents per FT unit for gross proceeds of $175,000. Each FT unit was composed of one common share of the company that was issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share of the company at a price of 15 cents at any time on or before Oct. 20, 2025.
On October 16, 2023. Copper Road Resources Inc. has arranged a non-brokered private placement of 1.5 million flow-through units of the company at a price of 10 cents per FT unit for aggregate gross proceeds of $150,000. Each FT unit will consist of one common share of the company to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one common share purchase warrant.
The company intends to use the gross proceeds of the offering on the exploration of the company's Copper Road project near Batchewana Bay, Ont., and for general working capital purposes.
On September 19, 2023, Copper Road Resources Inc. has drilled broad intersections of visible copper mineralization at the highly prospective JR zone copper porphyry and breccia targets at its Copper Road project in Batchewana Bay, Ontario. Highlights:
- At the Jogran porphyry target, both holes J-23-01 and J-23-02 intersected broad zones of copper mineralization (194 metres from four m to 198 m and 137 metres from four m to 141 m, respectively). Mineralization is exhibited as chalcopyrite plus molybdenite plus or minus bornite plus pyrite plus pyrrhotite disseminations, and in quartz veinlets hosted in a quartz-sericite-pyrite (phyllic)-altered quartz monzonite porphyry.
- At the Richards breccia target, two of four holes (R-23-01 and R-23-04) encountered wide intersections of copper mineralization (37 metres from 76 m to 113 m and 49 metres from 80 m to 129 m, respectively). The mineralization at Richards consists of chalcopyrite plus pyrite plus or minus pyrrhotite plus or minus chalcocite aggregates, disseminations and veinlets hosted in a chlorite-sericite-carbonate-pyrite-altered breccia.
John Timmons, president and chief executive officer of Copper Road, comments: "We are eager to see the assays from the JR zone; over the past year, we completed 4,200 metres of diamond drilling and have established both the Tribag and JR zones as large-scale at-surface Cu-Mo-Au-Ag [copper-molybdenum-gold-silver] targets. The JR zone is in the centre of 30 kilometres of mineralization, with two past-producing high-grade copper mines, the Coppercorp to the southwest and the Tribag to the northeast.
"The company believes this region has the potential to deliver several much larger copper-dominant polymetallic deposits based on the extensive Cu-Mo-Au-Ag mineralization throughout this contiguous 24,000-hectare project."
On August 11, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on June 22, 2023.
Number of shares: 71,426 shares and 5,642,858 flow-through shares
Purchase price: seven cents per share
Warrants: 2,857,142 share purchase warrants to purchase 2,857,142 shares
Warrant exercise price: 15 cents for a three-year period
Number of placees: 17 placees
Aggregate pro group involvement: three groups, 378,570 shares
On July 27, 2023, Copper Road Resources Inc. has completed its previously announced non-brokered private placement consisting of the sale of 71,426 units of the company at a price of seven cents per unit and 5,642,858 flow-through units of the company, each at a price of seven cents per FT unit, for aggregate gross proceeds of approximately $400,000. Each unit comprised one common share of the company and one-half of one common share purchase warrant. Each FT unit comprised one common share of the company issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one warrant. Each warrant entitles the holder thereof to purchase one common share of the company at a price of 15 cents for a period of 36 months the closing date of the offering.
The company intends to use the gross proceeds from sale of the FT shares for exploration activities on the company's key project located north of Sault St. Marie, Ont., and to incur eligible Canadian exploration expenses (within the meaning of the Tax Act) that will qualify for qualify for the federal 30-per-cent Critical Mineral Exploration Tax Credit. The net proceeds raised pursuant to the sale of the units will be used for general working capital purposes.
On June 22, 2023, Copper Road Resources Inc. has provided an update on the proposed 2023 drill program at the highly prospective JR zone at its Copper Road project in Batchewana Bay, Ontario.
Additional holes have been designed to follow-up JR Zone targets laterally and at depth based on the visual results of the proposed holes listed above, as well as to test two new targets, the J2 "Roof Zone" MMI anomaly at Jogran and the Richards northwest target, a potentially larger (150 x 250 m) and more intense chargeability and resistivity anomaly similar to the Richards Breccia anomaly.
Copper Road Resources President and CEO John Timmons comments: "The JR Zone contains lengthy intersections of near-surface breccia and porphyry-hosted mineralization that are untested at depth and untested for by-product minerals. Confirmatory MMI lines and historical geophysics demonstrate the potential for a larger zone of mineralization at the Jogran Porphyry and additional larger breccia targets to the northwest and to the south of the Richards Breccia. We are confident that our proposed summer exploration program will demonstrate the potential of the JR Zone to host a large-tonnage near-surface copper deposit containing a suite of by-product minerals."
On April 17, 2023, Copper Road Resources Inc. has validated and expanded the JR zone copper-molybdenum porphyry and copper-gold breccia pipe targets at its 21,000-hectare project in Batchewana Bay, Ont.
The JR Zone, comprising the Jogran Porphyry and nearby Richards Breccia, is located approximately 12 km from the former Tribag Mine Zone which the Company drilled in 2022 (see press release October 13, 2022.) The Company plans to expand surface exploration and drill test the JR Zone in 2023 to establish a second large scale near-surface mineralized zone at the Copper Road Project. The Company is excited to be in a unique position to unlock value for shareholders by continuing to advance both the Tribag and JR Zones at its potentially district-scale copper project.
The Company completed three reconnaissance Mobile Metal Ion ("MMI") soil sample lines over the JR Zone to evaluate the potential for an expanded footprint of the mineralized system(s) in areas outside of known mineralization. Significant Cu and Mo values in the soil samples demonstrate possible porphyry and/or breccia-style mineralization along strike between the Richards and Jogran targets (located 900 m apart on a NE-SW trend), and to the southeast of Richards, expanding the JR target zone to 1.5 km by 550 m.
On April 03, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Feb. 14, 2023.
Number of shares: five million common shares
Purchase price: eight cents per common share
Warrants: five million warrants to purchase five million common shares
Warrant exercise price: 15 cents for or a two-year period
On March 21, 2023, Copper Road Resources Inc. has completed its previously announced non-brokered private placement consisting of the sale of five million units of the company at a price of eight cents per unit for aggregate gross proceeds of $400,000. Each unit comprises one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share of the company at a price of 15 cents for a period of 24 months following the closing date of the offering.
The company intends to use the net proceeds of the offering to further explore the company's properties, and for working capital and general corporate purposes.
On March 08, 2023, Copper Road Resources Inc. has provided an update on its 2022 exploration activities and a preview of 2023 exploration plans at the 21,000-hectare Copper Road project located 80 kilometres north of Sault St. Marie, Ont., Canada. Highlights:
- Tribag mine zone 2022 diamond drilling program: A total of 3,000 metres of stepout diamond drilling was completed in the former Tribag mine area, which extended near-surface copper mineralization at the Breton and East breccias;
- Breton breccia: TR22-06: 100 m at 0.32 per cent copper, 2.99 grams per tonne silver (0.35 per cent copper equivalent) from 18 to 118 m;
- East breccia: TR22-07: 66 m at 0.22 per cent Cu, 2.94 g/t Ag, 0.02 per cent molybdenum, 0.36 g/t rhenium (0.36 per cent CuEq) from 69 to 135 m;
- Regional exploration fall 2022:
- The company executed a successful regional exploration campaign of geological mapping and geochemical sampling. The company completed 120 lake sediments, 11 reconnaissance MMI (mobile metal ion) soil samples and stream silts to validate new regional geophysical targets. The company is currently compiling 2022 geochemical analytical results and digitizing historical geochemical results in order to create a comprehensive database across this extensive project;
- The company has identified additional drill-ready porphyry and breccia copper-molybdenum-gold-silver targets across the district which are discussed in detail below. The company plans a summer drill program based on analysis of a voluminous historical database of diamond drill holes, geophysics and geochemistry combined with recent 2022 regional exploration results;
- 2023 program: The JR zone (Jogran porphyry and Richards breccia) is approximately 10 kilometres southwest of the former Tribag mine and contains mineralized surface breccia and surface porphyry targets. Examples of significant drill intercepts at the Richards breccia include:
- AR98-07: 27 m at 1.46 per cent Cu, 0.17 g/t Au, 3.8 g/t Ag;
- AR97-25: 40 m at 0.86 per cent Cu, 0.06 g/t Au, 3.5 g/t Ag.
On February 14, 2023, Copper Road Resources Inc. has arranged a non-brokered private placement of up to five million units of the company at a price of eight cents per unit for aggregate gross proceeds of up to $400,000. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company at a price of 15 cents for a period of 24 months the closing date of the offering. The company intends to use the net proceeds of the offering to further explore the company's properties and for working capital and general corporate purposes.
November 3, 2022, Copper Road Resources Inc. has granted a total of one million incentive stock options of the Company to an officer, directors and a consultant. Each stock option entitles the holder to acquire one Copper Road common share at an exercise price of 15 cents until November 2, 2027.
October 13, 2022, Copper Road Resources Inc. drills significant intervals of near-surface mineralization at the Breton breccia and East breccia at its Copper Road Project in Ontario, Canada.