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CAVU results imply greater mineralization

2.8% CuEq is best high-grade intersect to date on property North of 60 Mining News – July 15, 2022

CAVU Energy Metals Corp. (previously CAVU Mining) July 11 announced the results from the first four holes drilled at its Hopper copper-gold-silver-molybdenum project in southern Yukon.

A road-accessible 7,400-hectare (18,286 acres) property within the southern Dawson Range copper-gold belt, Hopper is located within the ancestral territory of the Champagne and Aishihik First Nations.

Most of the previous exploration at Hopper has focused on a skarn system that is a peripheral effect of a large porphyry intrusion.

CAVU says significant porphyry copper mineralization has been identified at Hopper over a 2,300- by 650-meter area that has only been tested by two diamond drill holes as well as several other strong indicators of robust mineralization along the system.

Highlights from the most recent drilling include:

15.27 meters averaging 2.8% copper-equivalent from a depth of 62.23 meters in hole HOP22-DDH-03. It is now considered the best high-grade intersect ever drilled in the Copper Castle skarn zone, extending known mineralization in horizon No. 1 to the north by 50 meters.

16.52 meters averaging 1.27% copper-equivalent from a depth of 107.02 meters in hole HOP22-DDH-02. Considered the longest intercept grading over 1% copper-equivalent obtained to date from horizon No. 2 of the Copper Castle zone.

High-grade mineralization in horizon #1 now occurs over 300 meters north-south and 200 meters east-west and remains open to the north and south by several hundred meters.

"These holes, especially HOP22-DDH-03, returned excellent grades," said CAVU Energy Metals CEO Jaap Verbaas. "The holes prove again that mineralization occurs over a large area and that the skarn horizons, at different depths, contain high-grade mineralization."

A 3,600- by 2,600-meter soil anomaly with greater than or equal to 100 parts per million copper, along with elevated gold, silver and molybdenum, has been outlined at Hopper. A 1,000- by 1,000-meter donut low, possibly related to thicker overburden, lies near the center of this large geochemical anomaly.

Furthermore, copper skarn mineralization has intermittently been exposed over an 800- by 1,500-meter area and over 400 meters in elevation in the Copper Castle zone – with zones of precious metal enrichment associated with second-stage retrograde alteration – and additional skarn mineralization on the north of the Hopper pluton.

"The new intersect in hole HOP22-DDH-03 is 100 meters north of the previously encountered best intercept on the project and shows the potential for expanding this high-grade horizon to the north and west," added Verbaas. "Copper Castle remains open further to the south, beyond the holes drilled by CAVU in 2021. Past drill programs have intersected copper, gold and silver mineralization in deeper horizons up to 950 meters northwest of hole HOP22-DDH-03, highlighting the extent of this system."

Full assay results

Hole HOP22-DDH-01 was collared on the eastern edge of a geophysical electromagnetic anomaly that is associated with massive magnetite and copper-iron sulfides in the skarn. The hole intercepted a single skarn horizon that yielded 0.731% copper, 1.37 grams per metric ton gold, and 5.5 g/t silver over 91 centimeters from a depth of 69.5 meters before it had to be abandoned at 104 meters due to ground conditions.

Hole HOP22-DDH01B was also collared from the same pad as 01 but drilled at a steeper angle. The hole intercepted eight skarn horizons ranging from one to 6.99 meters thick and grading roughly 1.59% copper-equivalent.

Hole HOP22-DDH-02 intersected 16.52 meters at 1.27% copper-equivalent from a depth of 107.02 meters in what is modeled as skarn horizon No. 2. This is the first time that horizon No. 2 intersected meaningful grades of copper over a significant intercept and indicates the potential for this horizon to also host viable mineralization.

The hole was collared in between two 2011 drill holes to test the continuity of high-grade horizon No. 1, around 70 meters depth. However, horizon No. 1 was not intercepted because an unmineralized intrusive dyke was cut where the prospective skarn horizon was expected.

Hole HOP22-DDH-03 intersected the richest part of skarn horizon No. 1 drilled to date, 15.27 meters averaging 2.8% copper-equivalent, and is the northernmost hole drilled into the center of the targeted geophysical anomaly.

The hole was collared at 50 meters west of hole 01, and results of 01 and 03 together indicate the skarn system exhibits metal zonation and the copper content increases from east to west.

Additionally, CAVU says that these holes imply the eastern extent of the shallowest high-grade copper-bearing skarn has been reached but also shows that there are more horizons at depth, as expressed by 3.95 meters averaging 1.59% copper-equivalent from a depth of 182.37 meters in hole HOP22-DDH-01B.

The company used high-power UV core photography to record all historic core to assist with vectoring toward these high-grade deeper horizons.


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