Carube Copper Corp. - Copper and Gold Assests: Jamaica and British Columbia
           
   

Bellas Gate Project, Jamaica

The Bellas Gate Project (BGP) consists of two wholly-owned Special Exclusive Prospecting Licenses (SEPLs) covering 84km2. The licenses are located within highly deformed, altered and mineralized Cretaceous rocks within the Central Inlier of Jamaica (Map 1). The Spaniards mined placer gold in the 16th Century and high grade copper veins were mined at two sites on the project in the mid 1800s. No significant exploration or development was undertaken subsequently until the 20th century. Explorationists have just recently become aware of the potential for silver and gold deposits in addition to copper at the BGP. Carube entered into a Joint Venture with OZ Minerals of Australia in January 2014. After spending close to $12.5M and having earned a 70% interest in the BGP, OZ Minerals elected to hand their interest back to Carube for future consideration of cash payments and a residual interest.

The BGP is located within the Cretaceous Central Inlier of Jamaica which has a geologic history of subduction, crustal thickening and tectonism that produced extensive mineralization throughout the Caribbean (Map 2) such as the Pueblo Viejo deposit containing more than 36 million ounces gold and 930 million pounds of copper (Barrick 2011 Annual Report).

Excellent potential at BGP exists for economically viable copper-gold deposits, with porphyry, epithermal, skarn, oxide and iron oxide copper gold (IOCG) type targets.

July 22, 2016, Drilling at Bellas Gate is presently focused on the Provost Prospect where initial drilling yielded:

  • Hole PVT-16-002 — 339m of 0.34% CuEq, including 10m of 1.79% CuEq
  • Hole PVT-16-001 — 82m of 0.46% CuEq, including 29m of 0.63% CuEq

At the Provost Prospect, a total of 728 metres in 3 holes has been completed with another hole in progress. Provost is a copper-gold porphyry target, located on the five kilometer long prospective Southern Alteration Zone and Porphyry Alley trend hosting numerous copper±gold porphyry systems. Soil geochemistry has defined a 400m by 400m copper in soil anomaly where strong to intense density of stockwork veining in volcanic rocks including quartz “A-veins” in malachite-mineralized outcrop are present. A recent ground Induced Polarization (IP) geophysical survey is also coincident with the mapped alteration and copper in soil anomaly.

There has been no historic drilling on this prospect, but Hole PVT-16-001 intersected copper mineralization from 29m downhole to the end of the hole at 111m. It was stopped in mineralization and abandoned due to drilling difficulties. Hole PVT-16-002 intersected copper mineralization from 29m downhole to the end of the hole at 368.15m with anomalous copper values to the end of the hole.

At the Lucky Valley Prospect one hole was drilled where an intrusive complex has been interpreted to be analogous to the Connors porphyry complex. Multiple phases of intrusions, including quartz-feldspar porphyry with strongly sheeted quartz +/- magnetite veining, have been identified in field mapping; individual rock samples yielded up to 0.44% Cu and 0.67g/t Au. A zone of anomalous Cu in soil measuring 200m by 400m has been identified in an area of poor outcrop. Assays are pending for hole LKV-16-001.

At the Provost Southeast Prospect at least one drill hole is planned. Soil sample data outlines an anomalous copper zone 600m long by 100 to 200m wide. Provost Southeast is some 800m southeast of Provost.

The Calabash Ridge Prospect is new and has been identified by surface mapping and sampling and has been upgraded in priority with the completion of the IP survey. It has been brought to the drill-ready stage and will be drilled later this quarter. Calabash Ridge is situated between the Connors Porphyry Complex and the new discovery at Provost.

*Note: Hole was abandoned before target depth due to technical issues. EOH – End of Hole.

The intervals do not necessarily indicate true width of mineralization, as its geometry is not known. Copper equivalents are calculated using a US $3.00/lb. copper and a US$1200 per ounce gold price assuming unlimited internal dilution and 100% recovery of both metals.

Drilling at Above Rocks is presently focused on the Job’s Hill Prospect, where high grade copper oxide had previously been identified over a 45 metre by 600 metre surface area; initial drilling yielded: • Hole JBH-16-001 — 5m of 0.87% CuEq and 3m of 0.48% CuEq

January 11, 2016
Bellas Gate Joint Venture —Summary of Drilling Intersections Phases 1 to 4

August 7, 2014, Hole CON-14-003, the third hole drilled by OZ Minerals at Connors, intersected significant copper-gold porphyry mineralization from near surface to 331 metres, similar to the first two holes drilled at Connors (see press release dated June 26th, 2014). It also contained two higher grade intervals in excess of 1.0% copper equivalent.
Assay results from CON14-003 include:

  • 297.0 metres of 0.40% copper (“Cu”) and 0.24 grams gold per tonne (“g Au/t”) or 0.54% CuEq from 34 to 331 metres,

Including

    • 55 metres of 0.67% Cu and 0.59 g Au/t or 1.01% CuEq from 86 to 141 metres; and,
    • 27 metres of 0.85% Cu and 0.32 g Au/t or 1.04% CuEq from 279 to 306 metres.

Assays have now been received for holes CON-14-001, CON-14-002 and CON-14-003. A summary of the results from all three holes drilled at Connors (as reported by OZ Minerals in their Summary Activity Report to Carube dated July 28th, 2014) are presented in the following table.



All three holes at Connors intersected copper-gold porphyry mineralization and associated alteration, primarily within intrusive rocks of monzonite composition. Alteration appears to be mostly characterised by an early, intense and pervasive biotite-magnetite event followed by multiple events associated with various vein phases. A number of vein styles are observed including pyrite, pyrite-magnetite, magnetite-pyrite-chalcopyrite, quartz+-magnetite+-chalcopyrite, chalcopyrite, sericite and feldspar; anhydrite and calcite typically being clearly later than other vein phases. Trace bornite and molybdenite are occasionally observed, typically within quartz veins. The presence of crowded feldspar porphyry breccia dykes in all holes is of possible significance. These dykes are finer grained with the matrix being juvenile monzonite porphyry. The dykes are locally well mineralised by sheeted pyrite-chalcopyrite and

June 26, 2014, Initial drilling by OZ Minerals on the Bellas Gate Project intersects 107m of 0.59% copper and 0.34 gAu/t. The first hole (CON14-001) was drilled on the Connors prospect on the south-central part of the BGJV property and intersected copper mineralization from near surface to 299 metres, where the hole had to be abandoned in a fault zone. At that depth the hole was still in mineralization. The second hole (CON14-002) was collared about 100 m south of CON14-001.



December 4, 2012, Carube's drill program expands the Camel Hill porphyry and identifies new high grade zone at Bellas Gate. The recent drilling by Carube has returned from drill hole CH12-01: 0.37% Cu and 0.13g Au/t over 135m at the Camel Hill porphyry. From drill hole DRH002, 6.0m of 1.34% Cu and from DRH001 5.0m of 1.11% Cu with both of these intersections from new targets generated by an extensive and detailed soil survey completed by Carube since 2011. More Results listed in this table.



and this table:



Historic

Over 35 high grade showings have been located through the years with mainly grab samples yielding up to 45% copper, 2.25 ounces gold/ton and 127.6 ounces silver/ton and channel samples of up to 3.5% copper over 2.4m (Map 4). Recently completed work has demonstrated the continuity of high grade zones to support a Magma Mine model of 137Mt at 5.7% copper and 1.9 ounces silver/ton.

Six copper porphyries have been identified on the BGP with the results from geochemistry indicating the presence of large buried copper porphyries or IOCG deposits (Map 5). Geochemistry and geology along a 5 km alteration corridor extending from the Camel Hill porphyry to the Diamond target indicate a copper porphyry setting. (Map 6).

Exploration Planned

Carube and JV Partner OZ Minerals intend to concentrate exploration at Connors, along the Camel Hill – Mab Hill – Diamond/Hendley corridor (Map 7), over the Coffee Copper Anomaly (Map 8) and along the Alma - Victoria Trend. In addition the untested, but highly prospective, Kola porphyry and targets along the Ginger Ridge stock will be investigated and drilled.

 

   
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