Vancouver, B.C.: AKA Ventures Inc. ("
AKA" or the "
Company") (TSX-V Symbol: AKA) announces the discovery of more native copper in cuttings from a recently sampled water well at the Copper Joe porphyry copper-molybdenum project in Mohave County, Arizona. The new copper find is located 3.3 kilometers northeast of drill hole CJ-1, where the Company drilled over 700 meters of native-copper-bearing gravel in its first drill test of the copper target. Combined with native copper found in drill hole CJ-2 located 1.4 kilometers west of CJ-1, even more native copper discovered by a Company geologist in the cuttings of an old US Department of Energy drill hole dubbed PQ-27 located 1.7 kilometers southeast of CJ-1, and outcropping copper-manganese oxides located 5.8 kilometers east of CJ-1, the Company has outlined an area of more than 14 square kilometers where the gravel overlying the Copper Joe porphyry target is laced with copper.
The Company's Copper Joe target is the buried, faulted top of a known giant porphyry copper-molybdenum system called Diamond Joe. In the 1960s, 70s, and 80s, ARKLA Exploration Company and Gulf Mineral Resources Company conducted intense exploration in the 25-square kilometer outcropping bottom half of the faulted Diamond Joe intrusion searching for a large porphyry copper-molybdenum deposit. While ample evidence of greisen alteration and stockwork milky quartz veining typical of the deep levels of porphyry copper deposits was found during ARKLA's and Gulf's work, AKA's management believes that the most copper-rich part of this system lies in the faulted-off top, situated some 8 kilometers to the east of the truncated roots. It is directly over this faulted target that the Company has found 14 square kilometers of native copper mineralization in capping gravel deposits. Concentrations of native copper in the gravel are far too low to ever be considered economic, but the large extent of this occurrence is suggestive of a significant copper source in the underlying bedrock.
Copper Joe Drilling and Field WorkDrilling by the Company in 2011 included core holes CJ-1 and CJ-2. Both of these holes were terminated in gravel prior to intercepting bedrock due to limitations of the drilling equipment. Hole CJ-1 was terminated at a depth of 1218 meters and CJ-2 was terminated at 1028 meters. A pronounced change in the gravel in the bottom 15 meters of CJ-1 from rounded, unaltered Precambrian cobbles to angular, goethite-stained, sericitized porphyry fragments carrying native copper leads the Company to believe that bedrock is not too much deeper and that the bedrock composition matches that of the expected porphyry target. A Titan-24 IP/MT electrical survey across the target that was conducted by Quantec Geoscience Ltd. in late 2010 showed a high-resistivity formation that is believed to be bedrock near the depths attained by the two core holes. Both drill holes were cased over much of their length and filled with heavy bentonite mud to increase the likelihood that they can be successfully re-entered and deepened in the near future, once a drill rig capable of drilling beyond 1200 meters has been secured. Discussions with Layne Christensen Company of Chandler, Arizona regarding the execution of this drilling work are underway.
The Company has secured mineral rights over 35 square kilometers, including 406 federal mining claims and one exploration permit from the State of Arizona that together cover the entire 25-square-kilometer Copper Joe target. The Company is committed to the further exploration of the Copper Joe project as a key part of its efforts to discover new copper resources in Arizona and bring new value to its shareholders.
No mineral resource has yet been identified on the Copper Joe Project. There is no certainty that the present exploration effort will result in the identification of a mineral resource or that any mineral resource that might be discovered will prove to be economically recoverable.
Timothy Marsh, PhD, PE, is the qualified person on the Copper Joe project.
The Company further announces that the underlying Option Agreement on the Long Valley project has been terminated.
On behalf of the Board of Directors of
AKA Ventures Inc."Brian Leeners"Brian Leeners, CEO & DirectorFor further information please contact the Company
Tel: 250.545.1299
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