Corcel Exploration clears permit, starts Yuma drilling

Executive Summary

• Corcel Exploration Inc. has received official acceptance of its reclamation bond from the U.S. Bureau of Land Management (BLM), authorizing the commencement of site preparations and drilling at its Yuma King project in Arizona.
• The company plans to execute a 1,500-meter diamond core drill program across six to eight sites, targeting copper and gold skarn and porphyry-style mineralization based on recent drone magnetic and geochemical surveys.
• Simultaneously, Corcel has initiated a 10-line-kilometre 2-D pole-dipole induced polarization (IP) geophysical survey to define the geological framework and detect sulphide mineralization, which will be integrated with existing data to refine drill targets.

Key Details

• Permit Status: Reclamation bond officially accepted by the U.S. Bureau of Land Management (BLM), allowing the company to proceed with site preparation and drilling.
• Drill Program Scope:
  • Total planned drilling: Approximately 1,500 metres of diamond core.
  • Number of sites: Six to eight drill sites.
  • Target styles: Copper and gold skarn and porphyry-style mineralization.
  • Primary targets: Areas in and around the Yuma King mine identified via recent drone magnetic geophysical surveys and geochemical sampling.
• Drill Program Objectives:
  • Confirm historical drill results.
  • Expand Cu-Au mineralization along strike and down dip at the Yuma King mine.
  • Identify new zones of high-grade Cu-Au mineralization.
• Initial Drilling Focus: Testing both skarn/replacement and porphyry mineralization styles, as the system remains open in multiple directions and at depth.
• Geophysical Survey:
  • Type: Ground induced polarization (IP) 2-D pole-dipole survey.
  • Size: 10-line-kilometres.
  • Coverage: Yuma King West and Yuma King mine priority exploration targets.
  • Purpose: Transect target areas with exposed alteration/mineralization, define geological/structural framework, and detect sulphide mineralization.
  • Integration: Combined with previously conducted drone magnetics and surface geochemistry to enhance the geological model and fine-tune drill targets.
• Historical Data Highlights:
  • Intersections of 0.78% Cu, 0.53 g/t Au, and 6.3 g/t Ag over 45.4 m in Cu-Au skarn.
  • Note: Qualified Person (Roy Greig, PhD, PGeo) has not verified historical data as original materials are inaccessible, but data is considered accurate for guiding future exploration.
• Project Background:
  • Location: Ellsworth mining district, Arizona.
  • Land Position: 3,200 hectares comprising 515 unpatented federal mining claims.
  • History: Past-producing Yuma King mine (underground production of Cu, Pb, Au, Ag between 1940 and 1963).

Notable Quotes

• "Receiving official acceptance of our reclamation bond from the U.S. Bureau of Land Management is an important milestone for Corcel, as it allows us to move forward with site preparation and drilling at Yuma King," commented chief executive officer Jon Ward. "With permits now in place, we are preparing to begin our 1,500-metre drill program across multiple priority targets at the project. At the same time, we have commenced an induced polarization survey to help us better understand the potential scale and strength of mineralization across the property. Combined with our existing exploration data, this work will guide our drilling and position us to efficiently advance the Yuma King project."