Corcel Exploration has announced the acquisition of the Willow Copper Property in the Omineca Mining Division of north-central British Columbia, Canada.
The property, located around 4km south-east of the Sustut Copper Deposit currently held by Imperial Metals, spans a contiguous claim block of around 1,160ha.
This move underscores Corcel’s commitment to copper metal.
The Willow Property is situated in a region known for its copper prospects and shares a similar geological environment with the nearby Sustut Copper Deposit, discovered in 1971 by Falconbridge.
The property’s geology is characterised by the Upper Triassic Takla Group, comprising the Savage Mountain Formation and the overlying Moosevale Formation.
A significant fault runs through the southern part of the adjacent Sustut claims, following a north-west–south-east direction along the Willow Creek valley.
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Historical data from rock samples collected south-east of the Willow Property have shown promising copper grades of up to 6.28.
Corcel’s technical team is preparing to undertake a comprehensive review of all available historical information on the property and its surroundings.
This review will inform the planning of any priority fieldwork necessary for the advancement of the Willow Property.
In July 2023, Corcel Exploration reached a binding agreement with Christopher Paul and Oliver Friesen (Optionors) to amend the terms of their existing letter agreement concerning the Peak Mineral Property, also in British Columbia.
The amendment to the option agreement allows Corcel more time to meet its exploration expenditure commitments, with the second milestone of $150,000 (C$204,723) now extended to 20 July 2024.
In accordance with the amending agreement, the company will grant the optionors a total of one million common shares in the company’s capital in exchange for extending and changing the terms of the Option Agreement.
