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Copper Quest signs final agreement to acquire the Kitimat copper-gold project.
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Release time：2025-10-31
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The project is located approximately 10 kilometers northwest of Kitimat, British Columbia, spanning about 2,954 hectares within the Skeena Mining District.
Copper Quest Exploration has signed a definitive agreement to acquire a 100% interest in the Kitimat Copper-Gold Project located in British Columbia, Canada. Situated approximately 10 kilometers northwest of Kitimat, the project spans about 2,954 hectares and is situated within the Skeena mining district in northwestern British Columbia. Access to the site is convenient year-round via logging and mineral exploration roads originating from Kitimat. The property boasts excellent infrastructure, lying less than 10 kilometers from tidal waters, fewer than 1.5 kilometers from a railway line, and under 6 kilometers from a high-voltage hydroelectric transmission line. Geologically, the project is nestled within the Stikine Terrane, a region renowned for its prolific porphyry copper-gold mineralization systems. Beneath the project area, late Triassic volcanic rocks host intrusions of Jurassic-age diorite and granodiorite bodies.
The project’s primary focus is the Jeannette copper-gold mineral belt, where alteration and mineralization are interpreted as a low-to-moderate-sulfur, shallow hydrothermal expression of a broader Cu-Au porphyry system. Exploration activities in the Kitimat mining district began in the late 1960s, with Decade Resources conducting extensive historical work—including drilling 16 diamond holes totaling 4,437.5 meters at the Jeannette mine site. Notable drilling results include Hole J-7, which intersected a 117.07-meter-thick mineralized zone grading 1.03 grams per tonne (g/t) gold and 0.54% copper, as well as Hole J-1, which revealed a 103.65-meter-thick zone grading 1 g/t gold and 0.55% copper.
According to the agreement, Copper Quest must complete a due diligence assessment of the project by January 5, 2026. Once the review is approved, the company will issue 2 million common shares to the seller, Bernie Kraft, on January 6, 2026, as full payment for the acquisition. The project includes a 2.5% net smelter return royalty, and the company has the option to repurchase 40% of this royalty interest for CAD 1 million (USD 714,154). Additionally, Copper Quest will retain the right of first refusal for any future transactions involving the sale of the remaining royalty interests. CopperQuest CEO Brian Thurston commented: "The acquisition of the Kitimat copper-gold project underscores Copper Quest's commitment to enhancing shareholder value through strategic acquisitions of key mineral assets. This project boasts an excellent geographic location and well-developed infrastructure, situated within a mature geological belt renowned for hosting large-scale copper-gold deposits. Earlier, strong drilling results from the Janet Mine area suggest that the region may harbor even more extensive near-surface mineralization systems. We look forward to advancing this project, positioning it as a valuable addition to our growing portfolio of copper-gold mining assets." The company plans to leverage artificial intelligence-driven analysis, integrating historical and modern exploration data, to create detailed geological and geophysical models for the Kitimat porphyry project—and ultimately improve the precision of target identification.
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