Corcel Exploration Company (Private search engine: CRCL) (Otkbk: CRLEF) (the “Company” or “Corcel”) is pleased to announce assay results from the first drill hole of the recently completed Phase 1 drilling program at the Yuma King Project (the “Project”) located in west-central Arizona.
Drill hole YK26-001 intersected a strong zone of near-surface copper, gold, silver and molybdenum mineralization highlighted by 56.65 meters of 1.07% copper, 0.79 g/t gold, 7.1 g/t silver, and 180 ppm molybdenum from a depth of 3.35 meters at the bottom of the well.. This drill hole expands based on historical drilling results and demonstrates the significant mineralization potential in the Yuma King mine area.
Highlight
- Significant mineralization in the first drill hole: An extensive zone of near-surface copper-gold-silver mineralization interspersed with high-grade intervals was intersected in the first drill hole (YK26-001) at the Yuma King mine target. Results include:
- 56.65 m of 1.07% Cu, 0.79 g/t Au, 7.1 g/t Ag, 180 ppm Mo.1 Starting from 3.35 meters downhole, including,
- 7.85 m of 2.28% Cu, 1.14 g/t Au, 6.8 g/t Ag, and 266 ppm Mo. From 24 meters downhole, including,
- 8.80 m of 2.07% Cu, 1.85 g/t Au, 20.5 g/t Ag, and 312 ppm Mo. From 45 meters down the well
- The results support the current exploration model: Drill results from YK26-001 confirm and extend historical drill results (e.g., 45.4 meters of 0.78% Cu, 0.53 g/t Au, and 6.3 g/t Ag in drill hole, see press release dated 7 October 2025)1 and demonstrate the significant, high-grade, high-tonnage mineralization potential of the Yuma King mine target.
- Outstanding results from five additional drill holes: The Phase 1 drilling program consisted of over 1,087 meters across six drill holes and tested over 500 meters of mineralization strike length. Results are pending from the remaining five drill holes (Figures 1 and 2).
“These are significant preliminary drill results from our Phase 1 drilling programme, building on the strong historical drilling completed in 2006 and supporting the potential for an extensive near-surface copper-gold system at Yuma King,” commented John Ward. “Most importantly, this confirmation hole returned higher scores than historical objections.”
“The successful completion of our Phase 1 drilling program represents an important milestone for the company, and we look forward to the assay results from the other five drill holes.”
The drilling program for the first phase has been completed
The Phase 1 drilling program at the Yuma King Project, near Salome, Arizona, consists of 1,087 meters across six drill holes (Figure 1, Table 2). Drilling is now complete, with two holes currently in the laboratory, one drill hole ready to ship, while the final two holes are undergoing logging and sampling prior to delivery. These drill holes are designed to test over 500m of strike length and slope potential of high-grade copper, gold and silver mineralization associated with the skarn beneath the historic mine workings (Figure 1). Results of the remaining drill holes will be released once the assay data is received, compiled and interpreted.
Drill hole YK26-001 is designed to evaluate historical drilling results from a drilling program completed in 2006 by Big Bar Gold. The hole was drilled to the north at -50 lowS. Based on modeling and review of historical results, YK26-001 is planned to expand mineralization to the north of historic hole YK01-A (Figures 1 and 2). YK26-001 has restored a broad zone of near-surface copper, gold and silver mineralization (e.g. 56.65 meters of 1.07% Cu, 0.79 g/t Au, 7.1 g/t Ag1Table 1). Mineralization across this zone consists of copper oxides (azurite, malachite, chrysocolla, and tenorite, Figure 3) found in copper/alternate skarn in red-walled limestone. The results from drill hole YK26-001 confirm and extend historical drilling results and demonstrate the high-grade, high-tonnage mineralization potential of the Yuma King target.
Figure 1. Map showing the location of drill hole collar YK26-001 in relation to all recently completed holes with pending results and all historical drill holes. The site of the historic underground workings appears on the surface.
Figure 2. Long section showing down-hole examination results from drill hole YK26-001 and results from historical drill holes. Traces of drill holes are also visible with the results hanging.
Figure 3. Drill core images from hole YK26-001 (50.5 to 53.9 m) showing areas of strong copper oxide mineralization with annotated copper grades.
Table 1. Inspection results of drill hole YK26-001
- Objections are considered embossed offers, actual offers are unknown, and reported objections may not reflect actual offers.
Table 2. YK26-001 drill hole collar information
Sampling, Quality Assurance/Quality Control (QA/QC)
All sampling was conducted under the supervision of Corcel geologists, and all drilling core analysis results were monitored through the company’s Quality Assurance and Quality Control (QA/QC) program. The drill core was sawed in half at Corcel’s dedicated and secure logging and processing facility near Parker, Arizona.
Half of the drill core was sampled and shipped by bonded courier in sealed, insured woven polyester bags to AGAT Laboratories in Calgary, Alberta. Core samples were prepared using standard preparation procedures 200-078 and 200-087 which involved crushing the sample to 80% less than 2 mm, followed by 250 g rifle sectioning, then sectioning the powder to better than 85%, with a 75 micron pass.
After sample preparation, the pulp was sent to Agat Laboratories in Calgary, Alberta for analysis. Agat is registered to ISO/IEC 17025:2017 accreditation for laboratory procedures.
Core drill samples were analyzed for 48 elements, including Cu, Ag, and Mo by ICP-OES/MS on a 0.2 g aliquot using four-acid digestion (methods 201-071 and 201-470 for over-the-counter results). Gold was analyzed by fire testing on a 50 gram aliquot completed with AAS (Atomic Absorption Spectrometry) (Method 202-551).
In addition to Agat Laboratories’ QA/QC protocols, Corcel implements a rigorous internal QA/QC program that includes the introduction of field and laboratory duplicates, certified reference materials (standards prepared by an independent laboratory) and blanks into the sample flow. Verification of analytical results data includes statistical analysis of standards and blanks that must pass certain acceptance criteria to ensure that accurate and verifiable results are obtained, and the procedures and results are considered acceptable.
Technical disclosure
Roy Gregg, Ph.D., P.Geo, is a qualified person as defined in National Instrument 43-101 Disclosure standards for mineral projectsa consultant to Corcel Exploration Inc., has reviewed and approved the technical content of this press release.
About Corcel Exploration Company
Corcel Exploration is a mineral resources company engaged in the acquisition and exploration of precious and base metal properties throughout North America. The Company has entered into a long-term lease agreement to acquire the Yuma King Cu-Au Project in Arizona, which spans a region-wide 3,200-hectare land area comprising 515 unpatented federal mining claims in the Ellsworth Mining District, including the formerly productive Yuma King mine that saw underground copper, lead, gold and silver production between 1940 and 1963. For more information, please visit our website at https://corcelexploration.com/.
Caution regarding forward-looking information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws (collectively, “forward-looking information”). Forward-looking information in this news release includes, but is not limited to, statements relating to: the expected receipt, compilation and interpretation of additional assay results from the remaining five drill holes for the Phase 1 drilling program at the project; the potential to expand areas of known copper, gold and silver mineralization at the Yuma King mine target; The potential of the project to host large-scale near-surface copper and gold mining; the Company’s plans to conduct future drilling and other exploration work at the Project, including any Phase II drilling program; The expected timing, scope and objectives of this work; the ability to secure permits, approvals, community support and financing on acceptable terms; The potential for the project to host an economic mining operation in the future.
Forward-looking information is based on a number of assumptions that, although considered reasonable by the Company on the date of this news release, are inherently subject to significant business, economic, competitive, operational and regulatory uncertainties and contingencies. These assumptions include, but are not limited to: future commodity prices and exchange rates; Availability of financing on reasonable terms; Availability of equipment, personnel and infrastructure; Maintain title and access to property; Obtain all required regulatory, surface and community approvals on expected terms and within expected timelines; accuracy of current technical information; and the absence of material adverse changes in applicable laws, political conditions, taxes, or capital markets.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. These risks include, but are not limited to: commodity price volatility; Exploration, development, mineral and geological risks; permitting, environmental and regulatory risks; ownership and access risks; financing and liquidity risks; reliance on contractors and third parties; Community, Environmental, ESG and Social Risks; political and security risks in foreign jurisdictions; operational disruptions, accidents and labor issues; changes in laws and taxes; Mitigation and capital markets risks; and other risks described more fully under the heading “Risk Factors” in the Company’s continuous disclosure files available under its profile at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update any forward-looking information except in accordance with applicable securities laws.
