November 23, 2023 – Vancouver, British Columbia. Stamper Oil & Gas Corp. (“Stamper” or the “Company”) (TSX-V: STMP; FSE: TMP2) is pleased to announce the commencement of its fall drill and exploration program on its wholly owned Redonda Copper Molybdenum Project. The current program is designed to confirm the previous significant results and bring the data file to CIMM/NI 43-101 standards. Then test for extensions of the known mineralization.
Comments from President and CEO Bryson Goodwin:
“I am thrilled to announce the successful completion of the financing for our exploration program at Redonda. It is an exciting opportunity for our mining exploration company to be entrusted with such a project. Redonda stands out in the current market, where the demand for copper assets is high, thanks to its significant historic grades and its location in a safe and easily accessible, mining-friendly jurisdiction.
Anticipating the release of the forthcoming technical report, I am confident that it will provide a comprehensive overview of the tremendous potential that Redonda holds for our shareholders. We are committed to maximizing the value of this outstanding asset and are eager to keep our stakeholders informed about the promising developments ahead.”
The project comprises 9 claims totalling 2746.46ha and is located 40km northeast of Campbell River, BC. Redonda is easily accessed with year-round regularly scheduled barge service out of Campbell River via Marinelink. Access from Redonda Bay is by 5km of recent upgraded logging road. Logging is ongoing and assures a well maintained complex of forest service roads across the claims. Work proceeded in 2021 under a Letter of Support from the Klahoose First Nation within their Traditional Territory and Free Use Permit, Drill Permit and IP Exemption from the Ministry of Energy, Mines and Low Carbon Innovation (EMLI).
The regional setting of the Redonda property is part of the Coast Suture Zone between the Wrangellia Terrane and the Coast Plutonic Complex. In the claims area, Early Cretaceous dioritic intrusive rocks of the Coast Plutonic Complex have been intruded by at least three later intrusive units, including a quartz plug, a 60 to 90 meter wide hornblende dike which is locally brecciated over its 650 meter exposed length and several smaller feldspar dikes which cut dioritic rocks near the southwest margin of the hornblende dike. Higher concentrations of copper-molybdenum mineralization are closely associated with the hornblende dike, particularly in areas where it has been brecciated. The geological setting of the mineralization on the Redonda mineral claims share a number of features similar to those observed at the OK Over copper-molybdenum porphyry deposit located 34 km to the southeast, north of Powell River and the Gambier Copper deposit in Howe Sound.
Previous drill core by Teck Corp., supervised by A. Betmanis, P.Eng., from 1979 was located in good shape and visually confirmed the following 1979 intersections:
The main metallic mineralization observed on the property is pyrite, chalcopyrite, bornite and molybdenite deposited as disseminations and in fractures and small veinlets. Mineralization is located in and close to a younger, large hornblende dyke between the quartz and a distance of approximately 350 metres east of the dyke. From recent interpretations of drill hole sections the main mineralized zone forms a V-shaped outcrop with the limbs of the V open for additional exploration drill testing. Mineralization grades increase in the northeastern part. The southern and centre of the zone becomes lower grade in copper and molybdenum and more pyritic. This could be due to mineral zoning as apparent from surface geology and topography. The depth of mineralization is unknown. The zone appears to plunge steeply to the south, although step-out drilling, and IP surveying would be required to verify this.
A significant observation made was related to structures referred to as “rusty shears” that may contain and/or control copper mineralization within the felsic intrusive (quartz diorite) host rocks. The importance of this observation was not apparent until the reference rock samples were saw cut and observed macroscopically. All quartz diorite rock samples displayed rust- rimmed, feathery and fine-grained chalcopyrite which had partially replaced mafic minerals, as well as rusty, weathered fractures. Sample 109684 taken from a road cut contained similar chalcopyrite mineralization but also contained a thin seam of massive chalcopyrite in a fracture within quartz diorite. This suggests that at least some of the rusty seams mapped in outcrops may have contained similar chalcopyrite seams prior to surface weathering. This feature may have positive metallurgical implications in future work.
Field measurements were made of rusty shears in outcrops mapped within a 400 m. x 400 m. area in the southwest quarter of the Redonda GPS grid. The two dominant orientations of rusty shears: N-S striking and steeply-dipping; and E-NE striking and steeply-dipping. The N-S striking orientation is consistent with the interpretation of the overall trend of copper-molybdenum mineralization observed in mapping, trenching and drilling in previous field programs by Highland Mastodon and Teck. The E-NE striking orientation is consistent with the photo lineament study at Redonda; as well as the NE Axis connecting Vancouver Island Eocene copper deposits projected by J. Houle, P.Eng from Catface through Mount Washington. These suggest that the preferred drilling orientation at Redonda should be designed to intersect these orientations at the greatest possible angles, with holes bearing 110-120 Az and with inclinations of 45-55.
The preliminary modeling by J. Houle, P.Eng of historic trenching and drilling assays suggests that intercepts of increased copper and molybdenum values occur within a 250 m. thick zone or series of sub-parallel sub-zones in a N-NW striking orientation, which dip steeply to the west, and plunge gently to the south.
This is consistent with elevated soil geochemistry values which appear to be open to the north and terminate to the south. Contoured copper and molybdenum soil geochemistry data also appears to mimic the E-NE structural and lineament orientation. These suggest that the preferred drilling locations at Redonda should be designed using long holes (500 m.) to test the area immediately south and down-plunge of the previous trenching and drilling.
J.T. (Jo) Shearer, M.Sc., P.Geo, a Qualified Person within the meaning of National Instrument 43- 101 (Standards of Disclosure for Minerals Projects), has reviewed and approved the technical and scientific information presented herein as accurate and has approved this news release.
About Stamper Oil & Gas
Stamper Oil & Gas Corp. (TSX-V: STMP) is an “Energy Commodity Focused” resource company, seeking to acquire interests in mineral and/or oil & gas resource properties focused on energy creation, storage or delivery. The Company is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets.
ON BEHALF OF THE BOARD OF DIRECTORS
Bryson Goodwin, President & CEO, Chairman of Board of Directors
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