Copper Reef's End of Summer Update
November 5, 2015
FLIN FLON, MANITOBA - November 5, 2015.........Copper Reef Mining Corporation (CSE: CZC) (the Company) wishes to announce an end of summer field work update on its Pikoo Diamond Project in Saskatchewan.
Till sampling of several high-priority kimberlite target possibilities directly associated with circular aeromagnetic anomalies has been completed on three of the Company's Pikoo diamond project properties C2 and C3 10 km east of the village of Deschambault and B1 near Pelican Narrows, Saskatchewan. Till samples were collected to search for a suite of the unique 'indicator' minerals that are often key elements of diamondiferous kimberlite intrusions. On the C2 and C3 properties till samples were collected along lines (referred to as a fence) perpendicular to the ice direction down ice (to the SE) of a total of 9 anomalies. Prospecting for boulders of magnetic rocks were carried out along this till sample fence and the geology mapped with various lithologies tested for magnetic susceptibility for their relative magnetism. The magnetic anomalies do not outcrop but occur below swamps, thick overburden or lakes. A total of 28 till samples were taken at 100-200 meter intervals along 3 till sample fences. 10 till samples were taken on the C2 property, 12 till samples were taken on the C3 property (4 covering the southern anomaly and 8 covering the northern anomaly) and an additional 6 samples were taken on the B1 property southeast of the Pikoo1-002 anomaly where kimberlite indicators minerals were obtained last year. In general, the properties were found to be covered with thin glacial till and/or in some areas by extensive areas of swampy organic material or lake deposited clay. Some glacial outwash material was observed in the field and rejected for sampling. For the most part good lodgement basal till; very hard stony sandy to silty clay referred commonly as "hard pan" was collected at the sample sites. At a few locations only sandy stony basal till was available. The line of till samples southwest of each anomaly collectively would in theory capture indicator minerals from any possible kimberlite source that might be of interest on the property.
On B1 an additional 6 samples were taken in the area where kimberlite indicator minerals (mainly chrome diopside) were discovered last year just south of a small strong circular anomaly. The overburden cover was thick in the immediate area of this magnetic anomaly before very quickly trailing into swampy muskeg to the south. Detailed prospecting found neither an outcrop source nor boulders that might indicate the nature of the anomaly of B1 .
The Till samples have been sent to Charles Fipke's lab C.F. Minerals Research Ltd. of Kelowna, B.C. where they will undergo various methods of separating out the kimberlite indicators minerals if present. Follow up of any good results would likely result in ground geophysical surveys or a magnetic-electromagnetic survey on C2 and C3 claims and possibly drilling on B1 over the winter.
Pikoo is a new diamondiferous kimberlite district located in east central Saskatchewan, associated with the Archean-aged Saskatchewan Craton. On November 6, 2013, North Arrow announced the discovery of two distinct kimberlite indicator mineral trains in the area and, in follow-up drilling, the PK 150 kimberlite, which returned 745 diamonds larger than 0.106 mm, including 23 diamonds larger than 0.85 mm from a 209.7 kg sample of drill core. To date, seven discrete kimberlite occurrences have been identified. In addition, other publicly-traded companies have recently identified distinct kimberlite indicator mineral trains in the Pikoo area.
Base Metal Targets
While Copper Reef waits for these till samples results on our Pikoo Diamond Exploration claims, we are busy modelling the data from airborne electromagnetic anomalies on the Company's base metal targets. Five target areas from a VTEM airborne survey in the Alberts Lake area 20 km east of Flin Flon are being evaluated geophysically to access their shape, dip, exact location as well as relative conductivity and strength. Volcanogenic polymetallic base metal deposits generally show up geophysically as these type of conductors.. The plan is to drill the most promising of these targets this coming winter. The anomalies lie immediately north of former producing Copper-Zinc- Gold-Silver Mines held by Hudbay Minerals and adjacent to Callinex Minerals claims to the south.
Stephen Masson M.Sc., P.Geo. President of Copper Reef is the Qualified Person under the provisions of National Instrument 43-101 for the Company and has reviewed and approved the contents of this news release.
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 no long-term debt and has assembled a portfolio of base metal and precious metal prospects, including strategic locations in the Provinces of Manitoba and Saskatchewan. The Company is now also looking at diversification.
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.