Coyote Copper Mines - receives Phase 1 drill permits for Copper Springs & accelerates warrant exercise
Our client Coyote Copper Mines (TSXV: CCMM) has received full approval for its Phase 1 drill permits at the flagship Copper Springs Project following completion of its Plan of Operations. A total of 37 drill locations has been authorised, each capable of hosting multiple drill holes. Coyote has three years to complete drilling and reclamation activities.
Coyote is inviting investors to visit the Copper Springs Project, from 25th September to 1st October 2026. Places are limited, with a number of fund managers, professional investors and high net worth individuals already signed up for the visit. For more information see HERE.
Figure 1. The Arizona Copper Triangle and Coyote Copper Mines Copper Springs Project
This Phase 1 drilling campaign will test both shallow oxide and deeper sulphide copper targets across the Copper Springs Project. The targets were defined through successful prior exploration programs, including mapping, sampling, and multiple generations of geophysical surveys. Additional soil sampling, channel sampling, and new geophysical work are underway to refine drill targeting. Permitting for Phase 2 drilling will begin shortly.
Figure 2. Phase 1 permitted drilling sites at Coyote Copper Mines Copper Springs Project
Operating copper mines across the western United States typically report grades between 0.2% and 0.5% Cu. Capstone Copper's Pinto Valley Mine, located just north of Coyote Copper's project, has a Proven and Probable grade of 0.32% Cu. The company believes that achieving similar grades during drilling would be highly encouraging.
Coyote is also expanding its land position with the staking of 111 new claims (20.66 acres each), increasing the Project's footprint from 63.33 km² (15,649 acres) to 72.36 km² (17,880 acres).
Updated Geophysical Programs
Phase 1 of the 2D Induced Polarization (IP) survey is underway, covering 17 line-kilometres across lines L1 through L7 in the central-eastern portion of the Project. Completion is expected by mid-September.
Phase 2 of the IP program (lines L8 through L12) will focus on the Gibson area and the surrounding "Donut" feature identified in earlier surveys.
Figure 3. The "Donut" geophysical feature and outlined Phase 1 and 2 IP program lines.
A combined CSEM-MT and SIP survey will begin around September 21st, covering the remaining areas not included in the February 2026 program.
Figure 4. Proposed CSEMT and SIP survey program stations at Coyote Copper Mines Copper Springs Project
The Copper Springs Porphyry Copper System - the Conceptual Exploration Target
Based on the current geophysical and geochemical dataset, the Project area hosts a 3 km × 3 km × 1.4 km subsurface anomaly interpreted to represent a large intrusive-hydrothermal centre consistent with a Porphyry Copper System. Surface and near-surface soil and bedrock sampling has returned copper values up to 1,000 ppm (0.1%), indicating strong hydrothermal signature and confirming the presence of a significant mineralised footprint.
The scale of the geophysical anomaly and the strength of copper geochemical anomalies are consistent with Tier-1 porphyry copper systems such as those found in the Arizona Copper Triangle, where large open-pit deposits typically grade 0.2 to 0.5% Cu with localised higher-grade zones.
The Project therefore represents a high-priority, Tier-1-scale exploration target, warranting systematic drilling to evaluate the presence, continuity, and grade of copper mineralisation.
On the permit news, Dan Weir, CEO of Coyote Copper Mines Inc., stated: "Receiving our Phase 1 drill permits allows us to begin testing what we believe is a very large porphyry copper system. The scale of the geophysical anomalies, the strength of copper geochemistry, and the structural and intrusive architecture we have mapped all point to a significant mineralized environment. Several major mining companies have already visited the Project - some multiple times - and their technical feedback has reinforced the potential we see at Copper Springs. With 37 approved drill sites, expanding geophysical coverage, and a growing land package, we are entering Phase 1 drilling with a disciplined, systematic approach. We look forward to advancing this exceptional project."
Notice of Warrant Acceleration
In other news, as a result of receiving its drill permits, Coyote is now able to deliver an acceleration notice to certain warrant holders, informing them that the warrants must be exercised within 30 calendar days, otherwise they will expire at 4:00 p.m. (Toronto time) on the final day. The total amount to be received by Coyote if all relevant warrants are exercised would be $3,143,386.58.
For more information on Coyote Copper Mines, including Optimo Research’s Initiation of Coverage note, visit the company’s dedicated page HERE
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Disclosures
Coyote Copper Mines is a corporate client of Optimo Research Ltd.
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