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Carube Copper Corp. (TSXV:CUC) announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $2.2 million from the placement of up to 40 million shares priced at $0.055 per share.

Additional Information:

Company: Carube Copper Corp.
Website: http://www.CarubeCopper.com
Stock Symbol: TSXV: CUC
Date Published: Aug 5, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Carube Copper Corp. announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $2.2 million from the placement of up to 40 million shares priced at $0.055 per share.

The shares are currently trading at $0.055.

The proceeds will be used for exploration at the Jasperoide project in Peru and general working capital purposes.

Jasperoide, the company's flagship project, is a highly underexplored 5,700 hectare high-grade copper-gold skarn and porphyry system located in southern Peru.

Mineralization at Jasperoide is hosted in similar geology to nearby major mining operations of Minmetals, Hudbay, First Quantum and Glencore, although management cautions that mineralization hosted on nearby properties is not necessarily indicative of mineralization hosted on the company's property

While field activities have been suspended, Carube has taken the opportunity to undertake a comprehensive review all historical data including drill core and logs, has developed a 3D geologic block model for the deposit, has completed design of the 2020-21 drill program and made all preparations for exploration programs to re-commence.

Previous drill results between 1994 and 2012 have shown extensive near surface copper-gold mineralization, including 113.0 meters of 1.13% copper with 0.32 grams per tonne gold, 24.3 meters of 5.76% copper with 0.09 grams per tonne gold, 185.2 meters of 1.00% copper with 0.39 grams per tonne gold, and 125.6 meters of 0.79% copper with 0.58 grams per tonne gold.

The company's drill permit application is well advanced, and the company is confident that as further COVID-19 restrictions are eased in Peru, the permit will be processed in a timely fashion.

Drilling will commence immediately upon receipt of the permit.

Carube also holds a 100% interest in 5 special, exclusive prospecting licenses covering 207 square kilometers of highly prospective copper-gold terrain in Jamaica, a 100% interest in two porphyry copper-gold properties covering 337 kilometers within the Cascade Magmatic Arc in southwestern British Columbia and a 100% interest in the 46 square kilometer Stewart Brook gold project in the Meguma gold belt of Nova Scotia.

Carube is seeking partners to further develop these highly prospective Canadian and Caribbean assets.

For more information, please visit the company’s website at www.CarubeCopper.com, contact Tony Manini, Executive Chairman at 647-953-5924 or by email tony.manini@TigersRealmGroup.com.

Or Jeff Ackert, VP, Business Development at 647-957-2249 or by email at jackert@CarubeCopper.com.

I’m Megan Edwards for Investmentpitch Media