Copper Quest Amends RIP Cu-Mo Option Agreement and Provides Project Update

Core Insights - Copper Quest Exploration Inc. has signed an Amended Option Agreement with ArcWest Exploration Inc. for the RIP Copper Project in British Columbia, extending the drilling requirement to December 31, 2026 [1][15] - The 2024 Phase One drilling program has confirmed the presence of a Cu-Mo mineralized porphyry system at the RIP Project, with significant mineralized intersections reported [3][4] Project Overview - The RIP Project is located approximately 33 km northeast of Imperial Metals' Huckleberry mine and is part of the Bulkley Porphyry Belt [1] - The project area has been expanded from 2,308.81 hectares to 4,770.65 hectares through the acquisition of five additional claims [4] Drilling Results - The Phase One drill program revealed extensive Cu-Mo mineralization, with highlights including: - 0.102% CuEq over 126.6 m in drill hole RP24-001 [4][7] - 0.113% CuEq over 114.3 m in drill hole RP24-002 [4][7] - The northern target has been defined as a 600m wide mineralized zone, while the southern target remains untested [3][4] Technical Details - The project is characterized by multiple phases of porphyritic intrusions and associated vein stockwork, indicating a significant porphyry system [5][10] - An airborne magnetic survey in 2024 identified two separate porphyry centers within the project area, enhancing the exploration potential [6] Future Plans - The company plans a minimum 2,000-meter Phase 2 drill program to fulfill the terms of the Option Agreement and secure an initial 60% ownership in the RIP project [15] - The exploration strategy aims to further define the mineralization and assess the potential of the untested southern target [3][4] Industry Context - Global copper demand is increasing due to electrification, electric vehicles, and renewable energy, while supply remains constrained, highlighting the importance of new porphyry discoveries [18]