Copper Quest Exploration has announced that Copper Quest signs definitive agreement to acquire Kitimat copper-gold project, securing a 100% interest in the Kitimat project located in British Columbia, Canada. The agreement, finalized recently, marks a significant step for Copper Quest as it expands its portfolio of critical mineral projects. The Kitimat project is strategically located and shows promise for future development.
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Official guidance: SEC — official guidance for Copper Quest signs definitive agreement to acquire Kitimat
Key Developments
The Kitimat copper-gold project spans approximately 2,954 hectares within the Skeena mining division in north-western British Columbia. The project benefits from year-round accessibility via logging and mineral exploration roads connected to the town of Kitimat. This accessibility, combined with its proximity to essential infrastructure, positions the project favorably for future exploration and potential mining operations.
Under the terms of the definitive agreement, Copper Quest has until January 5, 2026, to conduct a due diligence assessment of the Kitimat project. Upon successful completion of this review, Copper Quest signs definitive agreement to acquire Kitimat and will issue two million common shares to the vendor, Bernie Kreft, on January 6, 2026, effectively completing the acquisition. The agreement also includes a 2.5% net smelter return royalty, with Copper Quest retaining the option to repurchase 40% of the royalty for C$1 million.
Strategic Location and Geological Significance
The Kitimat project’s location offers several strategic advantages. It is situated within 10km of tide-water, 1.5km of a rail line, and 6km of high-voltage hydroelectric transmission lines, providing robust infrastructure support for potential mining activities. Geologically, the project lies within the Stikine terrane, a region known for its rich porphyry copper-gold systems. This geological context enhances the prospects for discovering significant mineral deposits. Copper Quest signs definitive agreement to acquire Kitimat, recognizing the potential of this strategically advantageous location.
The project site is underlain by Late Triassic volcanic rocks, intruded by Jurassic diorite and granodiorite bodies. The primary area of interest, the Jeannette copper-gold zone, exhibits alteration and mineralization indicative of low-level intermediate to low-sulfidation epithermal expressions linked to a larger copper-gold porphyry system. Historical exploration activities, including 16 diamond drill-holes totaling 4,437.5m in the Jeannette Zone by Decade Resources, have yielded promising results. Notable results include Hole J-7, which showed 117.07m at 1.03 grams per tonne (g/t) of gold and 0.54% of copper, and Hole J-1 with 103.65m grading at 1g/t gold and 0.55% copper.
Future Exploration and Development Plans
Copper Quest intends to leverage advanced technologies to enhance exploration efforts at the Kitimat project. The company plans to utilize AI analysis to integrate historical and modern exploration data, aiming to develop a detailed geological and geophysical model for the Kitimat porphyry project. This approach is expected to improve targeting precision and potentially uncover new mineralized zones. Copper Quest signs definitive agreement to acquire Kitimat, and this strategic move underscores the company’s commitment to innovation in mineral exploration.
Brian Thurston, CEO of Copper Quest, emphasized the importance of this acquisition, stating, “The addition of the Kitimat Copper-Gold Project demonstrates Copper Quest’s continued effort to add shareholder value through the acquisition of critical mineral projects. This project is ideally located with exceptional infrastructure, in a proven geological belt known for hosting major copper-gold systems. The strong historical drill results from the Jeannette zone speak to the potential of a larger near-surface mineralised system. We look forward to advancing this asset as part of our growing copper-gold portfolio.” Furthermore, Copper Quest will maintain the right of first refusal for any transactions related to the sale of the remaining royalty interest, providing additional strategic flexibility.
Implications for Copper Quest and the Mining Sector
The acquisition of the Kitimat copper-gold project represents a strategic expansion for Copper Quest, enhancing its portfolio with a promising asset in a well-established mining region. The project’s location, geological characteristics, and historical exploration data suggest significant potential for further discoveries and resource development. As Copper Quest signs definitive agreement to acquire Kitimat, it positions itself to capitalize on the growing demand for copper and gold, both critical minerals in various industries.
This deal also highlights the ongoing interest in British Columbia as a favorable jurisdiction for mining investment. The region’s rich mineral resources, coupled with its stable regulatory environment and established infrastructure, continue to attract exploration and development companies. The successful integration of the Kitimat project into Copper Quest’s operations could serve as a positive example for other companies looking to invest in similar projects within the region. Copper Quest signs definitive agreement to acquire Kitimat, signaling confidence in the project’s potential and the broader mining landscape in British Columbia.
In conclusion, Copper Quest signs definitive agreement to acquire Kitimat copper-gold project, marking a significant milestone for the company. With its strategic location, favorable geological characteristics, and plans for advanced exploration, the Kitimat project holds considerable promise for future development and value creation. The company’s commitment to utilizing AI-driven analysis further underscores its innovative approach to mineral exploration, positioning it for success in the competitive mining sector.
Financial Disclaimer: This article is for informational purposes only and does not constitute financial advice. Consult a qualified financial advisor before making investment decisions.
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