Focused on copper - world's largest base metals market
Exciting discoveries at the flagship Main Ridge project in Jamaica
Experienced management working in favorable jurisdictions
Actively seeking new asset and well-funded
What Carube Copper does
Explorer Carube Copper Corp (CVE:CUC) has eleven fully-owned copper and gold permits in Jamaica totalling 535 square kilometres (sq km) and a $14 million exploration database, which it inherited from Oz Minerals to help its plans.
The company also has three porphyry related projects in British Columbia, Canada totalling 469 sq km, which it aims to advance to joint ventures.
Carube is a first mover in Jamaica and a pioneer in an area of BC’s Cascade Magmatic Arc, now recognized for its mineral potential, which confirms the reputations of its board of directors for sniffing out potentially significant new discoveries.
The main focus for the company though is the Main Ridge project, which boasts good road access, and where the firm has undertaken significant detailed work, including regional mapping and rock chip sampling.
How's it doing?
Stephen Hughes, the chief executive of Carube, says two main zones have been identified at Main Ridge - a gold trend around 4 to 6km long, and excitingly, 500 meters (m) to the north of that, a copper trend.
The company aims to complete infill mapping now to connect prospects and prove its about 4km long and confirm the strike dip ahead of potential drilling mid-year.
In January this year, in a statement to the market, Carube said mapping along with soil sampling program and follow-up rock channel sampling has identified high-grade copper-silver mineralization along the Rio Minho Valley (RMV) area, which is immediately northeast of and parallel to the Bennett gold zone.
Along the RMV area, the firm has now discovered three copper-silver prospects, which have been defined within just 12 weeks of field activities starting at Main Ridge.
Highlight channel sample results have included 2 meters (m) at 6.07% copper plus 19.4 g/t (grams per ton) silver, and 16 meters at 1.22% copper plus 7.8 grams per tonne (g/t) silver.
British Columbia portfolio highly prospective
Carube Copper’s BC properties cover 492 square kilometres in the south-west of the province. The portfolio comprises three exploration stage properties - Rogers Creek, Mackenzie and Salal
Rogers Creek has been optioned to Tocvan Ventures, which can acquire up to an 80% interest in the project, which covers 212.34 square kilometers in 14 claims in the Lillooet mining district, by spending $1.9M on exploration and issuing Carube with $25,000 in cash and 1.3 million shares over a four year period.
Tony Manini is the Carube chairman and was instrumental in building one of the biggest success stories in recent Australian mining history, Oxiana. He went onto be a founder of investment vehicle Tigers Realm, which backs all sorts of copper opportunities around the world, and which has had multiple successes.
Director Yale Simpson helped build Exeter Resource Corporation, a company that was eventually sold to Goldcorp for nearly C$200mln. Sean Harvey was President of TVX Gold before it was sold to Kinross, and Zimi Meka is the founder and chief executive of Ausenco, one of the mining industry’s leading consulting companies.
Stephen Hughes, CEO and president, ran the geology for Asiamet (LON:ARS), which has rapidly been growing its resource base in Indonesia. In total he has led the delineation and discovery of more than two billion tonnes of copper resources in Asia over the past twenty years, and spent a considerable part of that time working for Freeport McMoRan.
Potential inflection points
Further exploration results from Main Ridge
Confirming strike dip
Start of drilling
Acquisition of new copper asset
What the CEO says:
Hughes told Proactive that aside from the Main Ridge in Jamaica, Carube was actively trying to pick up another porphyry copper project in western USA and China and had whittled 50 tenements down to around three or four.
"Our goal is to secure a new asset, I guess, within the next three months," he said.