Copper Reef Continues to Report High Grade Gold North of the Alberts Deposit
August 28, 2018
Copper Reef Mining Corporation (CSE: CZC) (the "Company") is pleased to announce additional results from this summer's prospecting and mapping at the Alberts Gold Property. The samples were taken between 300 and 400 m north of the north-north-east trending Alberts Gold Deposit. Assays of 12 out of 16 samples over a 100 m stretch of the structure reported grades ranging from 3.36 g/t gold to 54.73 g/t gold with 9 samples assaying above 8 g/t gold including 5 above 14 g/t gold. These were taken over a length of 100 m, north of the high grade samples taken along the same structure as reported in the July 9, 2018 press release. There are approximately another 55 samples ready to be shipped from locations further north and further west from the samples reported in this press release.
The northern and western portion of the new grid has been mapped covering both the projected northern extensions of the Alberts Lake Gold deposit and Z4 VTEM Geophysical Electromagnetic Conductor to the northwest.
Two new outcrops of quartz-veined ankeritic sericite schist similar to the Alberts Lake deposit have been found. The eastern outcrop is the most northern extension of the Alberts Lake Shear Zone extending the zone an additional 650 meters and does not appear to have been previously sampled or drilled. The other outcrop appears to be a western splay of Alberts Lake Shear zone approximately 100 meters north of the most northerly hole into the deposit.
Mapping and prospecting in the area of the Z4 anomaly has located numerous sulphide gossans flanking the Z4 VTEM Geophysical conductor in an area of quartz feldspar porphyries, ash and lapilli felsic volcanic tuffs and derived sediments. Two of the sulphide gossans have lapilli replaced by chalcopyrite (copper mineral). Numerous samples displaying extensive chlorite alteration will be sent shortly for whole rock analysis to test for volcanogenic massive sulphide (VMS) alteration. If VMS style alteration is chemically verified it will add credibility to the Z4 anomaly as a VMS target.
Detailed mapping will continue over the Alberts Lake deposit area and its potential southern extension. Geophysical surveys, including magnetic and VLF will cover the northern grid in September, with a large loop Transient Electromagnetic Survey (TEM) planned over the Z4 target area after freeze up.
Stephen Masson P.Geo. M.Sc., the qualified person, personally took the samples and supervised custody and shipment of the samples to TSL Laboratories in Saskatoon.
In other news Foran Mining Corp. reported July 26 that they have launched the summer program for resource definition and infill drilling on the company's flagship McIlvenna Bay zinc-copper deposit in Saskatchewan. Four drills and over 30 employees and contractors are now on site to complete the planned 11,000-metre program. Copper Reef hold a $0.75/t royalty on this deposit and a 2% NSR on other properties and deposits held by Foran in Saskatchewan.
ABOUT COPPER REEF MINING CORPORATION
Copper Reef is a Canadian junior mineral exploration company with a specific focus on mineral properties in northwest Manitoba and northeast Saskatchewan, Canada. All of the Issuer's properties are currently at the exploration stage. The Issuer has assembled a portfolio of base metal and precious metal prospects, including strategic locations in the Provinces of Manitoba and Saskatchewan.
Copper Reef Mining Corporation
Stephen L. Masson M.Sc. P.Geo.
President & CEO
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.