Wedoany.com Report-Oct. 31, Copper Quest Exploration has entered into a definitive agreement to acquire full ownership of the Kitimat copper-gold project located in British Columbia, Canada. The property covers approximately 2,954 hectares within the Skeena mining division, around 10 kilometers northwest of the town of Kitimat.

Geologically, Kitimat is located within the Stikine terrane, which is renowned for its abundant porphyry copper-gold systems.

The project site benefits from established infrastructure and all-season accessibility through logging and mineral exploration roads extending from Kitimat. It is situated about 10 kilometers from the coast, 1.5 kilometers from a railway line, and six kilometers from high-voltage hydroelectric transmission lines. These logistical advantages are expected to support future exploration and potential development activities.

Geologically, the Kitimat project lies within the Stikine terrane, an area well recognized for hosting numerous porphyry copper-gold systems. The site is primarily underlain by Late Triassic volcanic rocks, which have been intruded by Jurassic diorite and granodiorite formations. The main exploration focus, the Jeannette copper-gold zone, exhibits alteration and mineralization features interpreted as intermediate to low-sulfidation epithermal expressions linked to a broader copper-gold porphyry system.

Exploration on the property began in the late 1960s, with Decade Resources having conducted significant historical work, including 16 diamond drill holes totaling 4,437.5 meters in the Jeannette Zone. Key results include Hole J-7, which intersected 117.07 meters grading 1.03 grams per tonne of gold and 0.54% copper, and Hole J-1, which returned 103.65 meters at 1 gram per tonne of gold and 0.55% copper. These findings suggest the potential presence of a substantial near-surface mineralized system.

Under the acquisition agreement, Copper Quest has until January 5, 2026, to complete due diligence on the project. If the review is successful, the company will issue two million common shares to the vendor, Bernie Kreft, on January 6, 2026, as full payment for the acquisition. The project carries a 2.5% net smelter return royalty, with Copper Quest retaining the option to repurchase 40% of it for C$1 million (approximately $714,154). The company will also hold the right of first refusal on any future sale of the remaining royalty interest.

Copper Quest CEO Brian Thurston stated: “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 mineralized system. We look forward to advancing this asset as part of our growing copper-gold portfolio.”

The company also plans to incorporate artificial intelligence into its exploration process by combining historical and contemporary geological and geophysical data. This integrated approach aims to enhance the accuracy of subsurface modeling and improve targeting precision across the Kitimat porphyry system.