American Copper Development Corporation Confirms Large Scale Porphyry System at Lordsburg, New Mexico; Widespread High Grade Copper Mineralization Intersected including 44m of 1.00% CuEq
- Assay results indicate high-grade intervals of copper mineralization at the Lordsburg Project
- Hole AC23-006 intersected 44m of 1.00% CuEq including higher grade zones
- Company has significantly expanded its land position to the east of existing claims
- Hole AC23-005 had to be abandoned due to unmapped underground workings
Vancouver, British Columbia--(Newsfile Corp. - September 11, 2023) - American Copper Development Corporation (CSE: ACDX) (OTCQB: ACDXF) ("ACDX" or the "Company") is pleased to provide assay results from six diamond drill holes totaling 4,661m recently completed at the Lordsburg Project, New Mexico.
Highlights Include:
AC23-006 intersected 44m of
1.00% CuEq* (0.86% Cu, 10.55 g/t Ag, and 0.1 g/t Au) including, 18m of2.13% CuEq, 14m of2.75% CuEq, and 3.0m of11.35% CuEq (9.48% Cu, 217.5 g/t Ag, and 0.56 g/t Au) - Figure 1;AC23-005 intersected 9.9m of
0.52% CuEq (0.44% Cu, 9.57 g/t Ag, and 0.2 g/t Au)AC23-004 intersected 38m of
0.39% CuEq including, 12m of1.02% Cu Eq (0.94% Cu, 9.44 g/t Ag, and 0.2 g/t Au);AC23-001 intersected 36.6m of
0.38% CuEq including, 7.6m of0.69% CuEq (0.52% Cu, 18.90 g/t Ag, and 0.06 g/t Au).
The 2023 drilling campaign was designed to follow up on and extend previously identified porphyry copper related mineralization, test previously undrilled areas in and around the known high-grade copper, silver, gold vein mineralization at the historic Bonney and Misers Chest mines, and test newly identified areas for porphyry copper mineralization based on the 3D DCIP/MT Titan survey completed by Quantec earlier this year.
Figure 1: AC23-006 drill core showing semi-massive to massive chalcopyrite-magnetite veining and stockwork.
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Rick Van Nieuwenhuyse, Chairman comments: "Results from our initial exploration program have demonstrated that a very large-scale porphyry system is active at Lordsburg with widespread high-grade intervals of copper mineralization. We are very pleased with these initial results from the Phase I drill program. They demonstrate widespread pervasive propylitic and phyllic alteration with copper mineralization consistently associated with chalcopyrite-magnetite-kspar stockwork veining. Hole AC23-006 intersected a solid interval averaging
Based on results of the 2023 program, the company announced that it has significantly expanded its land-position to the east of the existing Lordsburg claims which now brings the new total land package to 1,205 contiguous Federal patented and unpatented lode mining claims, covering 9,462 hectares in area controlled by the Company (Figure 2).
Figure 2: 2023 Drill locations and new land positions, Lordsburg, NM.
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Table 1: Selected Drill Intercepts from the Lordsburg Project, NM.
*CuEq = (((Cu%) x $Cu x 22.0462) + (Au(g/t)/$Au*31.1034768)*0.78 + (Ag(g/t)/$Ag*31.1034768)*0.67))/($Cu*22.0462); Commodity prices: $Cu = US
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Table 2: Collar Locations for reported drill holes
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AC23-001
This hole was designed to test the eastern extension of the historically mined North Atwood Vein, which was intersected between 335 ft and 498 ft. A second, previously unknown and un-named vein complex was cut between 907 ft and 962 feet. Mineralization consists of copper oxide and sulfides, pyrite +/- magnetite in strongly silicified and brecciated rock hosted by intensely and pervasively propylitized andesite.
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AC23-002
AC23-002 was located approximately 3500 ft northeast of the Entrée Gold drilling and was designed to test a deep chargeability high along a potential structural corridor to the north and east of the pre-existing drilling. This hole did not contain significant copper assays; however, the hole did intersect intensely and pervasively k-spar altered and well mineralized pyrite-chalcopyrite-kspar stockwork veining most certainly indicative of porphyry style mineralization. Both Cretaceous andesitic wall rocks and Laramide porphyry and Laramide hydrothermal breccia contain extensive replacement of primary mineralogy and texture by chlorite, epidote and calcite with ubiquitous pyritic stockwork veining and disseminated chalcopyrite+/- magnetite. While assays did not yield reportable widths and grades, spot analyses using a handheld Vanta XRF analyzer yielded up to 2600 ppm Cu.
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AC23-003
AC23-003 was collared north and west of the Anita Vein in an area with outcropping silicified breccia pipes and coincident radiometric K and magnetic anomalies, approximately 1 mile south of a strongly argillized roadcut. It was collared in unaltered, post-Laramide quartz monzonite porphyry and passed at shallow depth into Laramide feldspar porphyry affected by moderately pervasive propylitic alteration. From 530 ft to 780 ft, strong phyllic alteration with quartz and sericite overprints the propylitized porphyry. This phyllic alteration zone, similar in appearance to the roadcut, hosts common and abundant, black calcite, Mn-oxide and sulfide bearing veinlets. The processes of leaching and secondary enrichment may be responsible for its occurrence.
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AC23-004
AC23-004 was the longest hole of the program, reaching a final depth of 3826.5 feet. It was collared just east of the Misers Chest shaft and was designed to test the high-grade copper veins historically mined in addition to drilling beyond the deepest workings. This hole started in propylitized andesite, passing at 229 ft into propylitized Laramide porphyry. At a depth of 830 ft, the drill hole cut into contact metamorphosed Cretaceous sediments of the Bisbee group. Hornfels, proto-skarn and silica-pyrite rock occur as alteration of the Bisbee group and persisted to the final drilled depth.
Mineralized intervals within the contact metamorphosed units typically contain common, thin, irregular chalcopyrite veinlets with irregular, seemingly arbitrary, zones with chalcopyrite concentrations greater than 50-percent of the core volume.
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AC23-005
AC23-005 was collared on the same pad as AC23-004, and was angled to the west to drill test a large mag-high anomaly surrounding the historic Misers Chest and Bonney workings. This hole also began in propylitized andesite before passing into propylitized Laramide porphyry at 257 ft and then into contact metamorphosed Bisbee Group sediments at 927 ft. As with AC23-004, hornfels, proto-skarn and so-called silica-pyrite rock of the Bisbee group persisted to the final drilled depth.
AC23-005 penetrated an open stope from the Miser's Chest historic underground mine between 875 and 890 ft below collar. The stope and recovered core to a depth of 927 feet cut the Last Chance vein characterized by coarse grained masses of chalcopyrite and chalcopyrite veinlets with some 5 ft intervals displaying over
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AC23-006
AC23-006 was also collared on the AC23-004 pad (see Figure 1 for photos). It was drilled to the northeast and aimed to test the northeast projection of mineralization found in AC23-004. It was collared in propylitized Cretaceous Andesite and passed into propylitized Laramide porphyry at a depth of 151 ft. Contact metamorphosed Bisbee Group sediments were first cut at a depth of 831 ft and persisted to 1038 feet. The next section of the hole passed back into Laramide porphyry, and then between 1555 ft and 1779 feet, Bisbee Group hornfels were again intersected. Bisbee Group hornfels and proto-skarn was observed down to where Laramide porphyry was cut from 1779 to the final drilled depth of 3000 ft.
The best mineralized interval, between 872 ft and 1017 ft was entirely within the contact metamorphosed Bisbee Group sediments and like the mineralization in AC23-004 contains common, thin, irregular chalcopyrite veinlets with irregular, seemingly arbitrary, zones with chalcopyrite concentrations greater than 50-percent of the core volume.
Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance
All sampling was conducted under the supervision of the Company's Project Manager. Samples were delivered to the ALS Laboratories preparation facility in Tucson, AZ where a chain of custody was received upon delivery. The samples were analyzed as ½ core and averaged 1.5m in length. Samples were crushed, pulverized and then analyzed using industry standard analytical methods including a 4-Acid ICP-MS 48 multielement package and a four-acid digestion method for high-grade copper and silver samples in Vancouver BC. Gold was analyzed on a 30 g aliquot by fire assay with an AAS finish. Three QA/QC samples (one standard reference material (SRM), one duplicate, and one blank) selected by the logging geologist were inserted at a rate of +/-
Next Steps
The Company is currently relogging all the Entrée Gold drill core in order to gain a better understanding of the mineralization and textures, and to better integrate this data into our database. We have completed approximately 12,000 ft of relogging to date. We will be spending the next few months reviewing all the layers of data we've compiled and collected over the past year to help with target generation for a second round of drilling.
The Lordsburg Project
American Copper's Lordsburg project is strategically located in a porphyry-rich copper region of southwest New Mexico at the intersection of the NE trending Santa Rita Lineament and the NW trending Texas Lineament. Significant historical production from the district includes 3-4M tonnes from polymetallic veins with average hypogene grades of 2
Qualified Person
Mark Osterberg, P.Geo., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release.
About the Company
The Company is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration programs on the Lordsburg Property and the Chuchi South and West Properties.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
American Copper Development Corporation
For further information, please contact:
Daniel Schieber
Chief Executive Officer and Director
Phone: (778) 372-9888
Email: invest@american-copper.com
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking information" under applicable Canadian securities legislation. Forward-looking information involves risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information is necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Accordingly, the forward-looking information discussed in this release, may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting ACDX. Although ACDX believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on this information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, ACDX disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events, or otherwise.
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