Copper Quest Exploration has signed a definitive agreement to acquire a 100% interest in the Kitimat copper-gold project in British Columbia, Canada.
The project is situated roughly 10km north-west of Kitimat and spans around 2,954 hectares (ha) within the Skeena mining division in the north-western region of British Columbia.
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It is accessible throughout the year via logging and mineral exploration roads that lead from Kitimat.
The property boasts good infrastructure, located within 10km of tide-water, 1.5km of a rail line and 6km of high-voltage hydroelectric transmission lines.
Geologically, it is located within the Stikine terrane, which is renowned for its abundant porphyry copper-gold systems.
The project site is underlain by Late Triassic volcanic rocks that have been intruded by Jurassic diorite and granodiorite bodies.
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By GlobalDataThe main focus of the project, the Jeannette copper-gold (Cu-Au) zone, displays alteration and mineralisation interpreted as low-level intermediate to low-sulfidation epithermal expressions of a more extensive Cu-Au porphyry system.
Exploration activities on the Kitimat property began in the late 1960s, with Decade Resources carrying out substantial historical work including 16 diamond drill-holes totalling 4,437.5m in the Jeannette Zone.
Notable drill results include Hole J-7, which shows 117.07m at 1.03 grams per tonne (g/t) of gold and 0.54% of copper, and Hole J-1 with 103.65m grading at 1g/t gold and 0.55% copper.
Under the agreement, Copper Quest has until 5 January 2026 to complete a due diligence assessment of the project.
Upon successful review, the company will issue two million common shares to the vendor, Bernie Kreft, on 6 January 2026, as full payment for the acquisition.
The project includes a 2.5% net smelter return royalty, with the option for the company to repurchase 40% of it for C$1m ($714,154).
Additionally, Copper Quest will maintain the right of first refusal for any transactions related to the sale of the remaining royalty interest.
CopperQuest CEO Brian Thurston commented: “The addition of the Kitimat Copper-Gold Project demonstrates Copper Quest’s continued effort to add shareholder value through the acquisition of critical mineral projects.
“This project is ideally located with exceptional infrastructure, in a proven geological belt known for hosting major copper-gold systems. The strong historical drill results from the Jeannette zone speak to the potential of a larger near-surface mineralised system. We look forward to advancing this asset as part of our growing copper-gold portfolio.”
The company intends to utilise AI analysis to combine both historical and modern exploration data, aiming to create a detailed geological and geophysical model for the Kitimat porphyry project and improve targeting precision.
