EDITOR: | October 26th, 2015

Carube Copper Corp.: Significant Copper Mineralization Reported from Recent Drilling at the Bellas Gate Joint Venture in Jamaica

| October 26, 2015 | No Comments
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October 26, 2015 (Source: Accesswire) — Carube Copper Corp. (TSXV: CUC) is pleased to announce recent drill results from the Bellas Gate Joint Venture in Jamaica. The $3.6 million 2015 exploration program operated by joint venture partner OZ Minerals Limited (ASX: OZL) at Bellas Gate is near completion with the remainder of drill results expected before year-end. The objective of the 2015 program is to evaluate the original 14 high-priority targets that were identified in late 2013 by Carube Copper and OZ Minerals.

Highlights of the most recent drill holes from the prioritized targets include:

Geo Hill: 61m of 0.31% CuEq including 7m of 0.64% CuEq and also 21m of 0.43% CuEq including 1m of 5.7 g/t Au in DDH GOH-15-004
Mab Hill: 45m of 0.27% CuEq in DDH MAB-15-001
Charing Cross: 24m of 0.26% CuEq including 4m of 0.44% CuEq in DDH CRC-15-001
Hendley: Intersects 100m of continuous copper mineralization from 8m below surface in DDH HEN-15-011

The recent drill results from Geo Hill, Mab Hill, Charing Cross, Dry Hill, Hendley, Congo Hill and Kola prospects are listed in Table 1. Please see Figure 1 in the press release dated July 22, 2015, for the location of all prospects at Bellas Gate.

Jeff Ackert, President and CEO of Carube Copper stated: “Results from initial drilling at Geo Hill, Mab Hill, Dry Hill, Charing Cross and Hendley indicate that significant copper-gold mineralization is present beyond that identified within the porphyries at the Connors and Camel Hill prospects. The wide copper-gold intersections at all prospects drilled to date have validated our targeting. With more results expected from Kola and Congo Hill, the joint venture has a sound base on which to plan its 2016 program to delineate and expand copper-gold mineralization at Bellas Gate.”

Upon receipt of results from the last drill holes, the joint venture will review all data and select the targets for the next phase of exploration. It is anticipated that several of the recently-drilled prospects will be subject to further drilling. In addition a number of the remaining prospects will be prioritized for first pass drilling. Of note is the Provost Prospect where field mapping has found intense porphyry-style quartz veining and alteration with associated iron oxides, copper oxides and limonite at surface.

Table 1: Bellas Gate Joint Venture — Summary of Most Recent Drilling Intersections

Hole
Name
Length
(m)
From
(m)
To
(m)
Interval
(m)
Cu
(%)
Au
(g/t)
CuEq
(%)
GOH-15-004 514.00 201.00 262.00 61.00 0.28 0.059 0.31
Including 244.00 251.00 7.00 0.55 0.169 0.64
and 367.10 409.00 41.90 0.27 0.120 0.34
Including 367.10 378.00 10.90 0.42 0.214 0.54
and 418.23 439.00 20.77 0.26 0.319 0.43
Including 436.00 437.00 1.00 0.30 5.670 3.47
MAB-15-001 295.55 115.00 160.00 45.00 0.20 0.112 0.27
CRC-15-001 68.00 7.00 31.10 24.10 0.25 0.024 0.26
Including 16.00 20.00 4.00 0.42 0.038 0.44
CRC-15-002 142.50 27.00 44.00 17.00 0.22 0.018 0.23
Including 34.00 37.00 3.00 0.35 0.027 0.37
CRC-15-003 116.05 68.00 77.00 9.00 0.33 0.018 0.34
CRC-15-004 103.65 76.00 86.00 10.00 0.26 0.033 0.27
DYH-15-001 104.05 12.00 102.65 90.65 0.03 0.005 0.03
DYH-15-002 308.55 63.00 91.60 28.60 0.13 0.003 0.13
and 106.00 119.00 13.00 0.13 0.053 0.16
and 249.00 267.00 18.00 0.16 0.008 0.16
HEN-15-007 237.55 93.00 119.35 26.35 0.13 0.071 0.17
and 159.00 177.00 18.00 0.15 0.121 0.21
HEN-15-008 213.35 No significant intersection
HEN-15-009 336.70 No significant intersection
HEN-15-010 291.70 No significant intersection
HEN-15-011 384.75 8.00 108.00 100.00 0.04 0.107 0.10
HEN-15-012 234.55 190.00 206.00 16.00 0.10 0.013 0.10
CGH-15-001 262.00 Assays pending
KOL-15-001 307.00 Assays pending

The intervals do not necessarily indicate true width of mineralization, as its geometry is not known. Copper equivalents are calculated using a US $3.00/lb. copper and a US$1200 per ounce gold price assuming unlimited internal dilution and 100% recovery of both metals.

Exploration completed by OZ Minerals to September 30, 2015:

  • Thirty-nine diamond drill holes at the Connors, Ginger Ridge, Geo Hill, Hendley, Mab Hill, Dry Hill, Congo, Kola and Charing Cross prospects, totalling 10,875 metres.
  • Analysis of 9,848 drill samples
  • Five soil sample survey areas totalling 2,892 samples
  • Collection and assay of over 353 rock chip samples
  • Geological mapping of 19 prospects, of which 12 were high-priority
  • Heliborne magnetic and radiometric survey totalling 1.866.65 line-kilometres

Results from drilling at Connors and other prospects are detailed in Schedules 1 and 2 attached.

Sample Preparation, Analysis and Quality Control: For a description of these items as pertaining to drill core and soil samples please see disclosure in press releases of January 14, 2015 and October 2, 2014. OZ Minerals, Carube Copper and Activation Laboratories all have robust sample security and quality control programs in place for samples collected in Jamaica.

Contacts
Jeff Ackert, President and CEO • 1-613-839-3258 • jackert@carubecopper.com
Dr. Vern Rampton, Executive Vice President • 1-613-839-3258 • vrampton@carubecopper.com
Alar Soever, Chairman • 1-705-682-9297 • asoever@carubecopper.com
Darrell Munro, Corporate Administration • 1-613-839-0474 • dmunro@carubecopper.com

This press release has been reviewed and approved by Dr. Vern Rampton, P. Eng., in his capacity as a qualified person as defined under NI 43-101. All references to “$” herein are to Canadian dollars unless stated otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

ABOUT CARUBE COPPER CORP.

Carube Copper Corp. (TSXV: CUC) is a Canadian exploration company focused on the rapid exploration and development of precious metal and copper projects in Jamaica and Canada. Through a wholly owned Jamaican subsidiary, Carube Copper owns a 40% beneficial interest (subject to a 2% NSR) in the Bellas Gate Project, which consists of two highly prospective copper-gold licenses covering 84 square kilometres of the Central Inlier. The Bellas Gate Project is the subject of a joint venture agreement with OZ Minerals Limited, an Australian copper-gold producer with a market capitalization of over $1B. OZ Minerals can earn a 70% interest (Carube Copper 30%) in the Bellas Gate Project by spending $6.5M on exploration and can then increase its interest a further 10% by completing feasibility study. OZ Minerals has flown airborne geophysics over 3 other Carube projects (4 wholly-owned Licences, subject to 2% NSRs, and subsequently can invoke separate joint ventures on each project under similar terms to those applicable to the BGP. Carube Copper also holds a 100% interest in three porphyry copper-gold-molybdenum properties in south-western British Columbia within the Tertiary-aged Cascade Magmatic Arc. Exploration continues on two of the BC projects, with the goal of joint venturing them to larger exploration and mining companies.

DISCLAIMER AND FORWARD-LOOKING STATEMENTS

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Inc. provides no assurance that actual results will meet management’s expectations. Actual events, results, performance, prospects and opportunities may differ materially from those expressed herein. Factors that can cause results to differ materially are set out in the company’s documents filed on the SEDAR website. Even though Carube Copper 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 it, as it may only apply to a disclosed time frame or not at all. Carube Copper disclaims any obligation to update or revise information in the future other than required by law. For additional disclaimer provisions, please refer to our website.

APPENDIX

Schedule 1: Bellas Gate Joint Venture — Connors Prospect, Summary of Drilling Intersections

Hole
Name
Length
(m)
From
(m)
To
(m)
Interval
(m)
Cu (%) Au (g/t) CuEq (%)
CON-14-001 299 39 299 260 0.44 0.19 0.55
Including 75 299 224 0.49 0.22 0.61
Including 91 198 107 0.59 0.34 0.78
CON-14-002 346 11 123 112 0.48 0.33 0.66
Including 11 70 59 0.55 0.49 0.83
CON-14-003 400 34 331 297 0.40 0.24 0.53
Including 57 189 132 0.50 0.38 0.70
Including 86 141 55 0.67 0.59 1.00
Including 252 321 69 0.55 0.22 0.68
Including 279 306 27 0.85 0.32 1.03
CON-14-004 297 28 146 118 0.58 0.47 0.85
CON-14-005 379 7 301 294 0.41 0.27 0.56
Including 7 103 96 0.68 0.57 1.00
Including 181 254 73 0.48 0.21 0.6
CON-14-006 254 No significant intersection
CON-14-007 382 75 137 62 0.40 0.17 0.48
CON-14-008 279 77 84 7 0.39 0.13 0.46
CON-14-009 294 No significant intersection
CON-14-010 320 85 269 184 0.35 0.17 0.45
Including 134 269 135 0.41 0.21 0.53
Including 136 188 52 0.54 0.26 0.69
CON-15-011 368 216 325 109 0.12 0.02 0.13
CON-15-012 346 No significant intersection

The intervals do not necessarily indicate true width of mineralization, as its geometry is not known. Copper equivalents are calculated using a US $3.00/lb. copper and a US$1200 per ounce gold price assuming unlimited internal dilution and 100% recovery of both metals.

Schedule 2: Bellas Gate Joint Venture — Other Prospects, Summary of Drilling Intersections

Hole
Name
Length
(m)
From
(m)
To
(m)
Interval
(m)
Cu
(%)
Au
(g/t)
CuEq
(%)
GOH-15-001 362 63 283 220 0.24 0.07 0.28
Including 100 140 40 0.33 0.14 0.41
GOH-15-002 244 NSI
GOH-15-003 351 101.5 290 189 0.13 0.03 0.14
Including 180 206 26 0.27 0.07 0.31
Including 244 290 46 0.19 0.04 0.21
GOH-15-004 514 201 262 61 0.28 0.059 0.31
Including 244 251 7 0.55 0.169 0.64
and 367 409 42 0.27 0.120 0.34
Including 367 378 11 0.42 0.214 0.54
and 418 439 21 0.26 0.319 0.43
Including 436 437 1 0.30 5.670 3.47
MAB-15-001 296 115 160 45 0.20 0.112 0.27
CRC-15-001 68 7 31 24 0.25 0.024 0.26
Including 16 20 4 0.42 0.038 0.44
CRC-15-002 143 27 44 17 0.22 0.018 0.23
Including 34 37 3 0.35 0.027 0.37
CRC-15-003 116 68 77 9 0.33 0.018 0.34
CRC-15-004 104 76 86 10 0.26 0.033 0.27
DYH-15-001 104 12 103 91 0.03 0.005 0.03
DYH-15-002 309 63 92 29 0.13 0.003 0.13
and 106 119 13 0.13 0.053 0.16
and 249 267 18 0.16 0.008 0.16
HEN-14-001* 159 114 159 45 0.13 0.03 0.15
HEN-15-002* 47 No significant intersection
HEN-15-003 410 59 321 261 0.22 0.07 0.26
Including 151 175 24 0.39 0.11 0.45
Including 209 239 30 0.30 0.12 0.36
HEN-15-004 212 90 144 54 0.15 0.12 0.21
HEN-15-005 276 72 96 24 0.14 0.09 0.19
HEN-15-005 and 167 192 25 0.18 0.11 0.24
HEN-15-006 291 59 130 71 0.10 0.06 0.14
HEN-15-007 238 93 120 26 0.13 0.071 0.17
and 159 177 18 0.15 0.121 0.21
HEN-15-008 214 No significant intersection
HEN-15-009 337 No significant intersection
HEN-15-010 292 No significant intersection
HEN-15-011 385 8 108 100 0.04 0.107 0.10
HEN-15-012 235 190 206 16 0.10 0.013 0.10
CGH-15-001 262 Assays pending
KOL-15-001 307 Assays pending

Note: * hole abandoned due to poor ground conditions. Target not achieved.

The intervals do not necessarily indicate true width of mineralization, as its geometry is not known. Copper equivalents are calculated using a US $3.00/lb. copper and a US$1200 per ounce gold price assuming unlimited internal dilution and 100% recovery of both metals.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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