Buscando Resources Corp. (“Buscando”) (CSE: BRCO) is pleased to announce that an exploration crew provided by Longford Exploration Services Ltd. is currently mobilizing to its Rupert property (the “Property”). The Property is located outside of the community of Port Hardy at the north end of Vancouver Island, BC. The crew will be conducting soil sampling and prospecting on the Property. Soil samples will be submitted for Mobile Metal Ion geochemical analysis (MMI).
The program is intended to expand the soil sampling grid completed in the fall of 2021. The results of that program were successful in identifying anomalous copper to the south and west of the anomalies previously identified in 2018. Of the 163 samples collected in 2021, 46 returned values considered to be highly anomalous for copper (> 1500 ppb) (see “Technical Report on the Rupert Property” available on Sedar).
Kyler Hardy, President and CEO of Buscando, stated “The geology of the property is a favourable host for copper mineralization. The veinlets and stockworks identified to date, particularly at the Quarry have been interpreted to be of the same age and origin as the mineralized intrusions at the Island Copper Mine and we are keen to follow up such potential.”
This exploration program will satisfy several of the recommendations provided in the 43-101, which the Company commissioned last year. The Property has limited outcrop exposure and MMI sampling has proven to be a valuable tool in identifying mineralization under cover in the area.
About the Rupert Project
The Property is located approximately 17 kilometres southeast of the community of Port Hardy and is comprised of two claims totaling 2,503 hectares. The Property is underlain by a generally southward-younging sequence of Upper Triassic to Jurassic rocks belonging to the Vancouver and Bonanza Groups. Major units include the Upper Triassic to Lower Jurassic Nahwitti River siltstone-greywacke, Lower to Middle Jurassic Holberg volcanic unit, and roughly coeval Mid Jurassic Island Intrusions. The Property was staked to target porphyry mineralization along trend from the neighbouring Island Copper Deposit, a past-producer with a long history of mining operations. The properties both share many of the same geological units that are known to host significant mineralization at Island Copper. There is also ongoing success in several geologically similar properties within the belt to the west of Island Copper, namely Hushamu, Red Dog and Pemberton Hills.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Property.
About Buscando Resources Corp.
Buscando Resources Corp. is a mineral exploration company focused on the acquisition, exploration and development of copper properties in Canada. The Company has an option to acquire a 100% interest in the Rupert Property on northern Vancouver Island, British Columbia.
Qualified Person
Mr. Cam Bartsch, P. Geo., technical Advisor to the Company and a Qualified Person (“QP”) under NI 43-101, has reviewed and approved the technical information disclosed in this news release.
Contact Information
For more information and to sign-up to the mailing list, please contact:
Kyler Hardy, President and CEO
Tel: +1-250-877-1394
Email: [email protected]
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1. Geology of the Rupert Property showing the MMI sample locations from 2018 and 2021.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain “Forward‐Looking Statements” within the meaning of applicable securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: exploration activities at the Property and the timing of such activities; and interpretation of exploration activities.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of the Company, future growth potential for the Company and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; the Company’s ability to operate in a safe and effective manner.
These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company’s dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company’s mining activities; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the speculative nature of exploration and development; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
