CAROLINA RUSH CORPORATION Toronto, Ontario--(Newsfile Corp. - June 25, 2024) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush," "Rush" or the "Company") is pleased to report drill results from the first two holes of the current 3,000-meter (m) drill program testing the newly discovered Tanyard Breccia Zone at the historic Brewer Gold Mine, South Carolina. Seven holes totalling 1,381 m have been completed and additional results are pending. All holes have targeted the Tanyard Breccia Zone, following up on successful hole B23C-021 which intersected 62.5 m @ 8.5 g/t Au, announced on February 26, 2024. The current drill program has tested the breccia along approximately 250 m of strike and from 50 to 150 meters below surface (see Figures 1 and 2 below).
Highlights:
- B24C-026: 49.9 m @ 0.73 g/t Au from 133.0 meters
- Including: 13 m @ 1.59 g/t Au and 0.21% Cu from 136 meters
- B24C-027: 52.5 m @ 1.00 g/t Au and 0.14% Cu from 91.0 meters
- Including: 19.0 m @ 1.93 g/t Au and 0.35% Cu from 121.5 meters
Drill hole B24C-026 was drilled to a depth of 226.0 meters at an angle of -70°, stepping out about 25 meters below drill hole 021. The drill hole intersected broad zones of mineralization with traces of tellurides associated with small quartz veins within the breccia, which confirms continuation of the Tanyard Zone. Results include:
B24C-026 8.35 m @ 0.33 g/t Au from 53.5 m
49.9 m @ 0.73 g/t Au from 133.0 m
inc. 13.0 m @ 1.59 g/t Au and 0.21% Cu from 136.0 m
inc. 2.2 m @ 4.89 g/t Au and 1.02% Cu from 145.5 m
Drill hole B24C-027 was drilled to a depth of 208.0 meters at an angle of -65°, stepping out about 25 meters to the east of drill hole 021. The hole encountered similar geology, alteration and mineralization as hole 26 hole, all within the Tanyard Zone. Results include:
B24C-027 10.5 m @ 0.40 g/t Au from 44.5
52.5 m @ 1.00 g/t Au and 0.14% Cu from 91.0 m
inc. 19.0 m @ 1.93 g/t Au and 0.35% Cu from 121.5 m
inc. 5.3 m @ 2.50 g/t Au and 0.95% Cu from 124.9 m
Assay results are consistent with drill core observations and confirm the presence of a broad mineralized zone that includes higher concentrations of gold and copper associated with highly silicified, pyritic breccia. Geology, alteration mapping, and induced polarization (IP) results indicate that the Brewer and Tanyard breccias are part of a large, +2.0 km diameter diatreme breccia complex, possibly overlying a copper-gold porphyry system.
Additional Drill Results Pending:
Results are pending for drill holes 028 to 032 which are shown in the figures below. All holes tested the strike and dip extensions of the Tanyard Breccia Zone along 250 meters of strike length. All holes and the mapped Tanyard Zone are located within a folded sequence of sedimentary rocks which overly a large, strong chargeability IP anomaly.
Figure 1: Tanyard Breccia Zone Drill Hole Locations
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Figure 2: Tanyard Zone Inclined Section Looking South
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Figure 3: Brewer Project Geology Map
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Figure 4: Drill Hole Location and Chargeability Map at 50 m Elevation
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Quality Assurance and Quality Control Statement
The Company's 2023-2024 exploration diamond core drilling was HQ and/or NQ size. The core was logged and marked for sampling and assaying by geologists contracted by Rush. Samples, typically 1.5 meters in length, were sawn in half using a diamond core saw and one-half of the core was placed in sample bags and tagged with unique sample numbers, while the remaining half was kept in the core box for storage. Each bagged core sample was shipped to ALS Laboratory in Twin Falls, ID where it was dried, crushed and pulverized to >80% passing -200 mesh. Gold was analyzed by fire assay (30 g) with an AA (atomic absorption) finish (method Au-AA23) with detection limits of 0.005 g/t gold. Samples containing greater than 10.0 g/t gold are analyzed by fire assay with a gravimetric finish (method Au-GRA21). Multielement analyses were analyzed with ICP-MS following a four-acid digestion (method ME-MS61) and samples containing >1.0% copper are analyzed via method Cu-OG62. Strict sampling and QA/QC protocols are followed, and assay integrity is monitored internally with a quality control program including the insertion of gold standards and blanks in the sample stream on a regular basis.
Qualified Person
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc, CPG-12116, a Qualified Person as defined by NI 43-101.
About Carolina Rush
Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is exploring the Carolina Terrane in the southeastern USA. Its flagship Brewer Gold-Copper Project is located at the past-producing, 397-hectare Brewer Gold Mine property in Chesterfield County, South Carolina, 17 kilometers along trend from the producing Haile Gold Mine. In January 2023, the Company signed exclusive mineral exploration lease and purchase option agreements for both the 246.6-hectare New Sawyer Gold Mine Property and the 54.6-hectare Sawyer Gold Mine Property, both located on the Sawyer Gold Trend and in Randolph County, North Carolina.
For further information, please contact:
Layton Croft, President and CEO
or
Jeanny So, Corporate Communications Manager
E: info@thecarolinarush.com
T: +1.647.202.0994
For additional information please visit our new website at http://www.TheCarolinaRush.com/ and our X feed: https://twitter.com/TheCarolinaRush.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
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