GT Resources Announces BHEM Survey at the North Rock Copper-Nickel-PGE Project, Ontario, Canada
GT Resources has announced its first exploration activities at the North Rock copper-nickel-PGE project in Northwestern Ontario. The project, acquired through MetalCorp in 2023, features a 13-kilometer long basal gabbroic contact and includes a historic resource estimate of 1 million tons grading 1.2% Cu.
The Phase I exploration program, budgeted under $200,000, includes a Bore Hole Electromagnetic survey, reconnaissance mapping, and prospecting/sampling. The project boasts excellent infrastructure with access to a paved highway, railroad, and hydro lines. The mineralization occurs in two styles: gabbro hosted and footwall vein style, with the Beaver Pond Zone being the most significant discovery to date.
GT Resources ha annunciato le sue prime attività di esplorazione presso il progetto di rame-nichel-PGE North Rock nel Northwestern Ontario. Il progetto, acquisito tramite MetalCorp nel 2023, presenta un contatto gabbroico basale lungo 13 chilometri e include una stima storica delle risorse di 1 milione di tonnellate con un grado di 1,2% Cu.
Il programma di esplorazione Fase I, con un budget di meno di 200.000 dollari, include un'indagine elettromagnetica a perforazione, mappatura di ricognizione e prospezione/campionamento. Il progetto dispone di un'eccellente infrastruttura con accesso a un'autostrada asfaltata, ferrovia e linee idroelettriche. La mineralizzazione si presenta in due stili: ospitata in gabbro e stile di vena di parete, con la Zona Beaver Pond che rappresenta la scoperta più significativa fino ad oggi.
GT Resources ha anunciado sus primeras actividades de exploración en el proyecto de cobre-níquel-PGE North Rock en el noroeste de Ontario. El proyecto, adquirido a través de MetalCorp en 2023, cuenta con un contacto gabbroico basal de 13 kilómetros de longitud e incluye una estimación histórica de recursos de 1 millón de toneladas con una ley de 1,2% de Cu.
El programa de exploración Fase I, con un presupuesto de menos de 200,000 dólares, incluye un estudio electromagnético de sondeos, mapeo de reconocimiento y prospección/muestreo. El proyecto cuenta con una excelente infraestructura con acceso a una carretera pavimentada, ferrocarril y líneas eléctricas. La mineralización se presenta en dos estilos: alojada en gabbro y estilo de vena de pared, siendo la Zona Beaver Pond el descubrimiento más significativo hasta la fecha.
GT 리소스는 Northwestern Ontario에 있는 노스 록 구리-니켈-PGE 프로젝트의 첫 탐사 활동을 발표했습니다. 2023년 MetalCorp을 통해 인수된 이 프로젝트는 13킬로미터 길이의 기저 가브로 접촉을 특징으로 하며, 1백만 톤, 1.2% Cu 등급의 역사적인 자원 추정치를 포함하고 있습니다.
1단계 탐사 프로그램은 20만 달러 이하의 예산으로, 보어홀 전자기 탐사, 정찰 지도 작성, 시료 채취를 포함합니다. 이 프로젝트는 포장 도로, 철도 및 전력선에 접근할 수 있는 우수한 인프라를 자랑합니다. 광물화는 두 가지 스타일로 발생하며: 가브로에 존재하는 스타일과 벽면 정맥 스타일로, 비버 연못 구역이 지금까지의 가장 중요한 발견으로 평가받고 있습니다.
GT Resources a annoncé ses premières activités d'exploration au projet de cuivre-nickel-PGE North Rock dans le nord-ouest de l'Ontario. Le projet, acquis par MetalCorp en 2023, présente un contact gabbroïque basal de 13 kilomètres de long et comprend une estimation historique des ressources de 1 million de tonnes avec une teneur de 1,2 % Cu.
Le programme d'exploration de la phase I, budgété à moins de 200 000 dollars, comprend une enquête électromagnétique par forage, une cartographie de reconnaissance et de la prospection/échantillonnage. Le projet dispose d'une excellente infrastructure avec un accès à une route pavée, au chemin de fer et aux lignes électriques. La minéralisation se présente sous deux formes : hébergée dans le gabbro et style de veine de parement, la zone Beaver Pond étant à ce jour la découverte la plus significative.
GT Resources hat seine ersten Erkundungsaktivitäten im North Rock Kupfer-Nickel-PGE-Projekt im Nordwesten Ontarios bekannt gegeben. Das Projekt, das 2023 über MetalCorp erworben wurde, verfügt über einen 13 Kilometer langen basalen Gabbro-Kontakt und umfasst eine historische Ressourcenabschätzung von 1 Million Tonnen mit einem Gehalt von 1,2% Cu.
Das Phase-I-Erkundungsprogramm, das mit weniger als 200.000 Dollar budgetiert ist, umfasst eine Bohrloch-Elektromagnet-Untersuchung, Erkundungslandkarten und Prospektierung/Sampling. Das Projekt bietet eine ausgezeichnete Infrastruktur mit Zugang zu einem asphaltierten Highway, einer Eisenbahnverbindung und Stromleitungen. Die Mineralisierung tritt in zwei Stilen auf: gabbro-hosted und Fußwand-Venene Stil, wobei die Beaver Pond Zone bis heute die bedeutendste Entdeckung ist.
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Toronto, Ontario--(Newsfile Corp. - November 27, 2024) - GT Resources Inc. (TSXV: GT) (OTCQB: CGTRF) (FSE: 7N1) (the "Company" or "GT Resources") is pleased to announce its first exploration activities on the North Rock copper – nickel – platinum group element project located in Northwestern Ontario, Canada.
The North Rock project was acquired by GT as part of the MetalCorp Limited acquisition in 2023 and encompasses a 13-kilometre long basal gabbroic contact along the Grassy Portage Gabbroic Complex along with one zone hosting a historic resource estimate1 of 1 million tons grading
The budget for the Phase I exploration program is less than
- A Bore Hole Electromagnetic ("BHEM") survey on historic drill holes to identify possible conductors of net-textured to massive sulphides below historic shallow drilling for purposes of defining drill targets.
- Reconnaissance mapping.
- Prospecting / sampling.
Derrick Weyrauch, President and CEO commented, "The North Rock project was one of most significant assets of 2023's Metalcorp acquisition. The project hosts significant historic work including underground development and a historic resource estimate1 of 1 million tons grading
Neil Petttigrew, VP Exploration stated: "The Grassy Portage Gabbro Complex, which hosts the North Rock project is a favourable setting for magmatic copper-rich Cu-Ni-PGE sulphide mineralization. Due to the abundance of disseminated to net-textured mineralization at the base of the Complex and the presence of massive sulphide 'footwall style' veins the project hosts potential for both bulk tonnage as well as high grade sulphide deposits. The geological setting draws comparisons to the historic Temagami and Thierry Mines located Ontario, and the Mesaba, NorthMet, and Maturi Deposits hosted with in the Duluth Complex in Minnesota."
The North Rock Project
The North Rock project is located in Northwest Ontario, and covers over 7,000 hectares (Figure 1). The project boasts excellent infrastructure and is crossed by a paved provincial highway, a railroad, and hydro lines. The project is hosted by the Archean aged, 20 kilometer long Grassy Portage Gabbro Complex. The mineralization is copper-rich magmatic sulphide, and is focused along the basal contact of the Complex with mafic and ultramafic volcanic rocks (Figure 2 and 3). The mineralization occurs in two main styles; "gabbro hosted" disseminated to locally net-textured sulphide within the basal heterolithic, varitextured gabbro, and as massive copper-PGE-rich sulphide "footwall vein" style within the footwall volcanic rocks.
Two very shallow zones have been discovered today, the most significant of which is the Beaver Pond Zone (Figure 3 and 4), which hosts a historic resource estimate1 of 1 million tons grading
Preliminary Prospecting and Mapping
Reconnaissance prospecting and mapping is underway to evaluate and re-establish access to the historic showing and drill collars to facilitate the BHEM survey. A particular focus is the historic Beaver Pond zone, grab samples containing disseminated to net-textured chalcopyrite rich sulphide have been collected (Figure 5) from a 10,000-ton surface stockpile of material recovered from underground development of the Beaver Pond Zone in the 1970's.
BHEM Survey
The Company's BHEM survey is targeting select historic holes located within the Beaver Pond zone including hole NR07-062, which at 780 meters is the deepest hole drilled on the project. Of significance, this hole intersected footwall style Cu-PGE rich mineralization at approximately 450-meter depth but was drilled down dip of the Zone, and therefore never exited the footwall volcanics into the main gabbro hosted mineralization, thus it missed the target. The purpose of this program is to explore for net-textured to massive sulphide mineralization within both the gabbro and footwall styles of mineralization beneath the historic shallow drilling.
Figure 1. Location, and regional geology map of North Rock project, highlighting 13-kilometer long prospective mineralized horizon.
1. see Historical Resource Estimate disclaimer below
To view an enhanced version of this graphic, please visit:
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Figure 2. Zoom in on historic zones of copper & PGE rich mineralization along the favorable basal contact of the Grassy Portage Gabbroic complex.
1. see Historical Resource Estimate disclaimer below
To view an enhanced version of this graphic, please visit:
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Figure 3. Zoom in on Beaver Pond Zone showing the historic Noranda shaft and workings, and historic resource estimate1 area.
1. see Historical Resource Estimate disclaimer below
To view an enhanced version of this graphic, please visit:
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Figure 4. Cross section, looking northeast through the Beaver Pond Zone showing historic drilling, note hole NR07-062, the deepest hole on the property that hit footwall style Cu-PGE mineralization, but missed the gabbro hosted mineralization.
To view an enhanced version of this graphic, please visit:
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Figure 5. Grab samples NP-NR-24-001 (left) with net-textured and NP-NR-24-002 (right) with heavy disseminated chalcopyrite-rich sulphide.
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1 - Disclaimer - Historical Resource Estimate1 – North Rock
Readers are cautioned that the Company has not attempted to verify historic mineral resource estimates and therefore readers should not place any reliance on any historical estimate. A qualified person has not done sufficient work to classify a historical estimate as a current mineral resource, additionally, a qualified person has not yet determined what work needs to be done to upgrade or verify a historical estimate as a current mineral resources or mineral reserves. The Company is not treating any historical estimates as current mineral resources.
A Historical Resource Estimate on the Beaver Pond Zone of the North Rock project is quoted at 1 million tons grading
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P.Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.
About GT Resources Inc.
GT Resources Inc. (TSXV: GT) is a mineral exploration company with a strategy to develop copper and nickel mining projects in Europe and North America. Our projects are located in Finland and Canada and are comprised of district scale opportunities that have attracted strategic investment from a major mining company.
Follow GT Resources on LinkedIn, Twitter, and at www.gtresourcesinc.com.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email: info@gtresourcesinc.com
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of GT Resources Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in mineral and commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and the impact of governmental entities. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
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FAQ
What is the budget for GT Resources' Phase I exploration program at North Rock (CGTRF)?
What is the historic resource estimate at North Rock's Beaver Pond Zone (CGTRF)?
What exploration activities are planned for North Rock project in 2024 (CGTRF)?
How long is the mineralized horizon at GT Resources' North Rock project (CGTRF)?
