Carolina Rush Retains Brewer Gold-Copper Project
News related to:Carolina Rush Corporation · 3 min read
Carolina Rush Corporation, a Toronto-based exploration company, has announced that it has retained 100% interest and operational control of the Brewer Gold-Copper Project following OceanaGold Corporation's withdrawal from the Earn-In to Joint Venture Agreement. Carolina Rush, which is a TSXV-listed company under the ticker symbol RUSH and an OTCQB-listed company under the ticker symbol PUCCF, has now taken sole ownership of the project in South Carolina, USA.
The decision to retain full interest in the project was made after OceanaGold, a major player in the mining sector, decided to terminate the Earn-In to Joint Venture Agreement. This move allows Carolina Rush to continue its exploration efforts and maintain full control over the project, which had previously been shared with OceanaGold. The termination of the agreement means that Carolina Rush will now benefit from the full exploration success at Brewer, as OceanaGold would have earned a 50% interest in the project had it funded an additional $6 million of exploration.
The Brewer Gold-Copper Project, which covers approximately 3,480 acres, now has an expanded land position that includes the adjacent Jefferson Project. Carolina Rush has identified two priority porphyry drill holes that are expected to be drilled farther northwest and west-northwest of Hole 38 to test the interpreted porphyry system. The first hole will be used to refine the location and orientation of the second hole, which will be designed to intersect the interpreted porphyry intrusion and test the copper-gold potential of the system.
The exploration completed during 2026 has significantly advanced Carolina Rush's understanding of the Brewer hydrothermal system, strengthening the geological framework for targeting a potential porphyry source across the expanded Brewer-Jefferson land position. The exploration program has also provided important support for the previously proposed tilted porphyry copper model, with the deep holes helping to explain previously identified geophysical anomalies and providing important support for the tilted porphyry model.
OceanaGold's technical contribution and exploration investment of approximately $2 million have been retained by Carolina Rush, with the drill core, geological interpretations, and exploration data generated through OceanaGold's funded program now belonging to Carolina Rush. Carolina Rush currently has the capital available to advance the contemplated porphyry drill program, which will include the first of two priority deep holes identified through the 2026 program and Dr. Richard Sillitoe's independent review.
The Company's exploration efforts have resulted in the discovery of gold-copper mineralization beyond the nearest hole informing the current mineral resource estimate, with the 2026 drilling program providing important support for the tilted porphyry copper model. The exploration program has also identified two additional priority deep drill holes to test the interpreted porphyry system farther northwest and west-northwest, including areas toward the Brewer-Jefferson property boundary.
Carolina Rush's immediate porphyry exploration priority is to advance the first of two priority deep holes identified following Dr. Sillitoe's review of the 2026 program. Results from the first hole will be incorporated into the Company's geological model and used to refine the location and design of the second priority hole. Carolina Rush believes it has sufficient current working capital to undertake the presently contemplated Phase II porphyry program, with final program scope, timing, and budget being determined.
The Company's 2025 maiden Mineral Resource Estimate for Brewer includes an Indicated mineral resource of 6.2 million tonnes grading 0.97 g/t gold and 0.12% copper, containing 192,000 ounces of gold and 16.7 million pounds of copper. The Inferred mineral resource is 8.8 million tonnes grading 0.74 g/t gold and 0.04% copper, containing 210,000 ounces of gold and 8.3 million pounds of copper. The additional Inferred backfill mineral resource is 11.9 million tonnes grading 0.36 g/t gold and 0.03% copper, containing 139,000 ounces of gold and 9.7 million pounds of copper.
Carolina Rush Corporation, through its exploration efforts, has significantly advanced its understanding of the Brewer hydrothermal system and strengthened the geological framework for targeting a potential porphyry source across the expanded Brewer-Jefferson land position. The Company's exploration program has provided important support for the previously proposed tilted porphyry copper model and identified two additional priority deep drill holes to test the interpreted porphyry system farther northwest and west-northwest, including areas toward the Brewer-Jefferson property boundary. The Company currently has the capital available to advance the contemplated porphyry drill program and intends to continue testing this opportunity while also evaluating near-surface opportunities to expand Brewer's existing gold-copper resource.