First Drill Hole at Yuma King Hits 56.6m of 1.07% Copper and 0.79 g/t Gold

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Monday, June 1, 2026

Copper is holding around US$6.50/lb and the structural demand case for the metal is as strong as it has been in years. Large-scale, bulk-tonnage skarn systems in tier-1 jurisdictions represent highly attractive targets for base and precious metals development. Arizona stands as one of the most prolific, century-long copper-producing hubs in the United States, offering an established regulatory framework and a robust localized supply chain infrastructure. For explorers, hitting broad intervals of high-grade copper oxides sets a firm benchmark for upcoming exploratory step-outs.

Corcel Exploration Inc. (CNX: CRCL) (OTCQB: CRLEF) announced assay results from the first drill hole (YK26-001) of its recently completed Phase 1 campaign at the 100%-owned Yuma King Project in west-central Arizona. The initial diamond drill hole encountered a strong zone of near-surface, skarn-hosted copper-gold-silver-molybdenum mineralization, returning 56.65m grading 1.07% copper, 0.79 g/t gold, 7.1 g/t silver, and 180 ppm molybdenum starting at 3.35m downhole.

The broad intersection is punctuated by notable high-grade interior zones, including:

• Upper Interval: 7.85m grading 2.28% Cu, 1.14 g/t Au, 6.8 g/t Ag, and 266 ppm Mo from 24m downhole.
• Lower Interval: 8.80m grading 2.07% Cu, 1.85 g/t Au, 20.5 g/t Ag, and 312 ppm Mo from 45m downhole.

A confirmation drill hole that exceeds the historical intercept it was designed to evaluate is an exceptional outcome for an exploration program. Hole YK26-001 tested the down-dip continuity of mineralization below historical mine workings and expand on a 2006 historical drill hole. That historical benchmark previously returned 45.4m of 0.78% Cu, 0.53 g/t Au, and 6.3 g/t Ag. Corcel’s modern twin hole surpassed the historical data across all primary metrics, delivering a wider mineralized footprint alongside higher average grades for both copper and gold.

The Phase 1 program drilled 1,087m with six drill holes, laid out to evaluate a mineralization strike length spanning more than 500m. Two subsequent holes are currently undergoing testing and the final two holes are being logged.

Following the news, CRLEF / CRCL increased 13.3% and 5.6% to US$0.142/share and C$0.19/share, respectively. 

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