Strike Copper Corp. – A junior resource exploration company with senior ambitions

sTrike Copper Corp. –

A junior resource exploration company with senior ambitions

Strike Copper Corp. (“SCC”) is a junior mineral exploration company currently focused on defining and monetizing the resource potential of its 100-per cent interest in the Sungold property (“Sungold” or the “Property”) in the prolific Shebandowan Greenstone Belt in Northwestern Ontario, approximately 110 kilometres west of Thunder Bay, Ontario.

Sungold is adjacent to Goldshore Resources’ Moss Lake property, which hosts historical resources of 4.0 million oz. Au. Goldshore acquired their property from Wesdome Gold Mines Ltd. in May 2021 in a $57-million transaction and it is now being actively explored by Goldshore with encouraging results (note: all information re Goldshore is sourced from their website and Strike Copper Corp. disclaims any responsibility for that content).

Sungold includes the massive sulphide Wye Lake occurrence and the southwest extension of Goldshore’s Hamlin IOCG (iron oxide-coppergold-uranium) deposit, which has the potential for Ni-Cu-PGE and Porphyry Cu mineralization. In 2005, backhoe trenching of the Wye Lake Zone intermittently exposed massive, semi-massive and stringer sulphides contributing to an IPV of approximately $54 million at the time for the then owner of the property (Freewest Resources).

Highlighting the trenching program was the uncovering of massive zinccopper mineralization at two locales, situated 400 metres apart and on strike with each other. Specifically, assays of up to 27.8 per cent zinc and 0.91 per cent copper were obtained at one trench line and up to 29.8 per cent

zinc and 0.84 per cent copper were obtained at another. Other drill holes in the Wye Lake area also provided interesting results, including WL05-08 of 13.75 metres of 0.77 per cent Cu and WL05-13 of 12.45 metres of 0.72 per cent Cu.

At the Hamlin IOCG location, one drill hole (drilled in 2011 by Xstrata Copper Canada) approximately 10 metres from the Sungold claim line next to Goldshore, HAM-11-75, came in at 156.1 metres grading 0.35 per cent Cu, 0.015 per cent Mo, 2.15 g/t Ag and 0.87 g/t Au. Another drill hole, in the immediate area, HAM-05-35, had the copper equivalent of 0.68 per cent over 49 metres.

ham-11-75 (drill cap circled)

HAM-11-75 is approximately 10 metres from SCC’s claim line with Goldshore Resources’ Moss Lake property. After 15.5 metres of overburden, the drill encountered a potassically altered breccia from 15.5 to 316.5 metres with a minor unit of diorite (at 86 to 126.6 metres) and a minor shear zone (at 213.4 to 234.1 metres).

The drill then encountered felsic volcanics at 316.5 metres, which persisted until the end of the hole at a depth of 364 metres. Additionally, the hole contained an interval of 156.1 metres grading 0.35 per cent Cu, 0.015 per cent Mo, 2.15 g/t Ag, and 0.87 g/t Au.

current eXploration activity

In the fall of 2020, Strike Copper

Corp. commenced trenching in areas prospective for copper near HAM-11-75 under the direction of Russell Kwiatkowski, a director of the Company. Russell is a recent recipient of the Lifetime Achievement Award for his outstanding work and continuous dedication to prospecting in Northwestern Ontario.

Why copper?

Copper is currently riding an all-time high and is projected to go even higher due to global production issues and its increasing use in products such as electric vehicles (“EVs”), windmills and virtually all electronic devices (e.g., mobile phones, televisions, and computers). Regarding EVs alone, Bloomberg estimates that they will account for one-third of all new vehicle sales by 2040 (Source: https://www.bloomberg.com/ news/articles/2021-07-09/europeto-propose-end-of-combustionengine-era-in-green-overhaul). In a January 2022 article in Mining Weekly, Fitch Solutions “forecasts the copper market will remain in deficit as consumption continues to outpace supply, driving prices higher over the coming years. The main driver of demand growth will be the global transition to a green economy” (Source: https:// www.miningweekly.com/article/ fitch-solutions-expects-copperprices-to-ease-on-weakeningfundamentals-2022-01-05).”

corporate overvieW

From a corporate perspective, with only 20.5 million shares outstanding (fully diluted and including 4.25 million warrants), Strike Copper Corp.’s share structure has been designed to incentivize the founders and management to grow the company’s assets through development and expansion over the medium to long term. Specifically, the 60 per cent of the shares are narrowly held by the founders, family, friends, and close business associates. The balance is split between property optionors, retail investors, and an institutional investor (Crescat Capital LLP).

When Crescat’s investment was announced in August 2021, Kevin Smith, founder and CIO of Crescat Capital, remarked, “We are excited about the opportunity to help unlock substantial value at Strike Copper by providing capital for exploration at its Sungold project. The company has acquired a large property package – 5,800 hectares – with potential for a sizable and economic copper and gold system. We are eager to see the team focus its efforts on the IOCG mineralization at Hamlin Lake which is open to depth.”

Quinton Hennigh, Crescat’s geologic and technical advisor, commented, “I am excited about the opportunity of working with SCC’s exploration team to develop its Phase I drill program at the Sungold property. Although right in the heart of a classic Abitibi greenstone belt, this project shows indications it is host to a somewhat unusual gold-copper system for this region, perhaps one of IOCG affinity. Historic drilling in an area immediately adjacent to the project yielded long intercepts of Au-Cu mineralization. Crescat is delighted to hold a significant stake in an early stage, exciting opportunity such as this.”

Strike Copper Corp.’s senior officers

Copper Prices 45 Year Historical Chart

Interactive chart of historical daily COMEX copper prices back to 1971. The price shown is in U.S. Dollars per pound. The current price of copper as of February 22, 2022 is $4.51 per pound.

are Charles Elbourne, president and CEO, and Jon Li, CFO. The Company’s directors and advisory team is comprised of seasoned professional geologists and business executives including the aforementioned Russell Kwiatkowski, Ikram “Ike” Osmani, Colin Bowdidge, Rudy Wahl (advisor), Gerry D. White, Rodney Barber and Paul Cooper. Biographies of these individuals may be found on the Company’s website at www. strikecopper.com, along with other information regarding Strike Copper Corp. and its Sungold Property.

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