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Friday, Feb 14, 2025
Mugglehead Investment Magazine
Alternative investment news based in Vancouver, B.C.

Gold

Coast Copper strikes gold with new mineral discovery on Vancouver Island

The findings could be a potential game changer for the mining industry on the island

Coast Copper strikes gold with new mineral discovery on Vancouver Island
Empire Mine in northern Vancouver Island. Photo via Coast Copper.

Coast Copper Corp. (TSXV: COCO) has unveiled a promising new mineral discovery at its Empire Mine property, signaling a potential game-changer for the mining industry and boosting prospects for gold and copper extraction on Vancouver Island.

On Monday, the company announced the newly identified mineral showing, dubbed “B3”, which is located approximately 700 meters south of the renowned Merry Widow pit.

Rock sampling at the B3 outcrop has returned results up to 51.60 grams per tonne Au, 30.66 g/t tellurium, 0.25 per cent cobalt and 50.52 g/t silver.

After the announcement, the company saw its stock skyrocket by 75 per cent to $0.070 on the Canadian Ventures Exchange.

This discovery emerged during Coast Copper’s rigorous summer 2023 exploration program, which encompassed a range of activities from prospecting to rock sampling across various areas of interest.

The preliminary soil sampling has delineated an area with remarkable gold-in-soil values. The rock samples extracted from the B3 outcrop have returned encouraging results, indicating substantial deposits of gold, tellurium, cobalt and silver.

In addition to the B3 showing, Coast Copper’s exploration team identified other areas of interest, revealing traces of high-grade gold and copper mineralization.

Coast Copper strikes gold with new mineral discovery on Vancouver Island2

Photo via Coast Copper

Read more: Mining pollution not adequately addressed by British Columbia laws: Dirty Dozen report

Read more: Artemis Gold sets sights on Blackwater mine gold pour by 2024 amidst steady progress

The company’s collaboration with the BC Geological Survey and the University of Victoria has also borne fruit. Researchers will look into the rare earth and critical metals potential at the property, which could have far-reaching implications for the tech and energy sectors.

“The new B3 discovery, as well as the waste dump, were not included in the potential expansion but going forward will be included as areas that could potentially add additional resources to the 2023 MRE,” CEO Adam Travis said in a statement.

“While on-site, we also field-checked and confirmed the proposed drill locations for the next drill program.”

Coast Copper primarily concentrates its exploration efforts on the Empire Mine property on northern Vancouver Island, BC. This property encompasses three historic open pit mines and two former underground mines known for producing iron, copper, gold, and silver.

Additionally, Coast Copper wholly owns the Knob Hill NW property, also on northern Vancouver Island, along with the Home Brew property in central BC and the Scottie West property situated in northern BC’s renowned “Golden Triangle.”

Read more: NevGold completes maiden mineral resource estimate for Nutmeg Mountain in Idaho

Read more: NevGold Ptarmigan subsidiary gets five BC exploration assets in option agreement

British Columbia’s gold companies continue to make strides in the sector

Some Vancouver-based companies are expanding the presence of the province in the sector by setting their eyes on mineral-bearing properties around the province.

NevGold Corp. (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) Ptarmigan subsidiary recently received access to five different properties as part of an option agreement with Eagle Plains Resources Ltd (TSX: EPL). The properties have two projects bearing copper, gold and silver and three projects focused on lithium.

Additionally, NevGold holds substantial land holdings totalling over 310 square kilometers (31,028 hectares) in highly promising regions such as Southeast British Columbia, Toodoggone and Atlin.

 

NevGold is a sponsor of Mugglehead News coverage

 

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