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Vancouver, B.C., December 12, 2023 - Canada One Mining Corp. (“Canada One” or the “Company”) (TSXV: CONE) (OTC: COMCF) (FSE: AU31) is pleased to announce it has entered into an agreement (the “Agreement”), dated December 10, 2023, pursuant to which the Company has agreed to acquire two claim groups totalling 632 hectares from an arm’s length vendor (each, a “Property” and collectively, the “Properties”), located contiguous to the Company’s flagship Copper Dome Project (“Copper Dome”), Princeton, British Columbia.
Highlights
- The Properties have been relatively under-explored
- 100% owned, no net smelter royalty (NSR) or third party commitments
- Northern Property is contiguous to Copper Dome’s Friday Creek Zone and 3.25km southwest of the neighbouring Copper Mountain Mine super pit
- Northern Property has similar geological setting as Friday Creek Zone
- Historical drilling and sampling at the Friday Creek Zone have confirmed Copper (Cu), Gold (Au), Platinum (Pt) and Palladium (Pd) mineralization (historical drill assay highlights in Table 1 below)
- Southern Property increases land position at the recently acquired Copper Dome South (Cu and Au potential)
- Southern Property has similar geological setting as Copper Dome South
Mr. Peter Berdusco, President and CEO of Canada One commented: “We feel very fortunate in adding additional ground at Copper Dome, specifically at the Friday Creek Zone which has historically proven to yield, not only gold and copper mineralization, but also platinum and palladium. The technical team are therefore anxious to perform reconnaissance field work in 2024 on this newly added area in hopes of uncovering its exploration potential.”
Northern Property
The northern Property is located west of the Company’s Friday Creek Zone which was the focus of a 2011 drill campaign and confirmed Cu and Au mineralization at depth.
This area is prospective not only for copper (Cu) and gold (Au), but also for platinum-group elements.
Table 1: Selected Assay Highlights from Anglo-Canadian Mining Corp. 2011 Drill Program at Friday Creek Zone
The historical drill assays were undertaken by the prior operator, Anglo-Canadian Mining Corp. and have not been independently verified by the Company. The sampling was done to the standards of the time and is considered “historical” in nature and is not NI43-101 compliant and cannot be relied upon. The results are listed here to show why the Company is interested in this area. Future work and drilling may not repeat similar results.
Southern Property
The southern Property is located adjacent to the east of the recently acquired Copper Dome South area. This area has seen little historical exploration and is prospective for copper (Cu) and gold (Au).
Agreement Terms
The Agreement provides for the acquisition of the Properties for a total cash consideration of $2,500CDN.
The Acquisition does not involve any Non-Arm’s Length Parties (as defined in the policies of the Exchange) to the Company. In connection with Acquisition, the Properties do not have any material liabilities and the Company does not expect to assume any material obligations related to the Properties, nor does it expect to devote the majority of its working capital or resources to the development of the Properties. The primary focus of the Company at this time continues to remain the planned exploration and drilling work at Copper Dome Central. As a result, the Acquisition does not constitute a “fundamental acquisition” for the Company within the policies of the Exchange.
No finders’ fees or commissions are payable in connection with the Acquisition.
Copper Dome Project Highlights
- The Project lies within the lower portion of the Quesnel Trough porphyry belt, a well-established mining district. The belt extends north from the Copper Mountain Mine, through the Elk, Brenda, Craigmont, Highland Valley, and New Afton mines
- Previous drilling has confirmed the presence of high-grade copper associated with northeast running geological structures similar to those seen at the Copper Mountain Mine
- Past exploration has identified the presence of palladium (Pd), platinum (Pt) and gold (Au) mineralization on the Property
- Multiple zones of mineralization have been discovered on the Property to date
- Excellent infrastructure provides year-round access with low-cost exploration and low jurisdictional risk
- Past exploration includes, airborne magnetics flown over the entire Project, 51km of induced polarization (IP) surveyed over areas of interest, Airborne Magnetics and electro-magnetics (EM) surveyed over half of the Project area, 2,253 soil and 378 rock samples collected, over 8900m of diamond drilling and over 1km of trenching
For further information, interested parties are encouraged to visit the Company’s website at www.canadaonemining.com, or contact the Company by email at
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer
Forward-Looking Statements
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: statements relating to the anticipated timing thereof and the intended use of proceeds. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.