Granite Creek Copper Discovers New Zone in 2024 Drilling at Carmacks Copper-Gold-Silver Project in Yukon, Canada
Granite Creek Copper (TSX.V:GCX)(OTCQB:GCXXF) has announced the discovery of a new mineralized zone, dubbed the Gap Zone, at its Carmacks copper-gold-silver project in Yukon, Canada. The discovery resulted from a 1420-metre drill program consisting of four holes. The Gap Zone, located between the proposed 147 and 2000S pits, was traced for approximately 170 meters and remains open along strike and at depth.
The company believes this discovery has the potential to add significant tonnage and extend the mine life outlined in the 2023 Preliminary Economic Assessment. The Carmacks project currently contains over 824 Mlbs Measured and Indicated and 29 Mlbs Inferred copper equivalent within a high-grade resource of 36.2 million tonnes grading 1.07% CuEq. Additionally, Granite Creek has issued 750,000 shares to the vendors of the LS molybdenum project as part of an earn-in agreement.
Granite Creek Copper (TSX.V:GCX)(OTCQB:GCXXF) ha annunciato la scoperta di una nuova zona mineralizzata, denominata Gap Zone, presso il suo progetto di rame-oro-argento Carmacks nello Yukon, Canada. La scoperta è emersa da un programma di perforazione di 1420 metri composto da quattro fori. La Gap Zone, situata tra le proposte fosse 147 e 2000S, è stata tracciata per circa 170 metri e rimane aperta lungo il suo sviluppo e in profondità.
La società ritiene che questa scoperta possa aggiungere tonnellate significative e prolungare la vita mineraria delineata nella Valutazione Economica Preliminare del 2023. Il progetto Carmacks contiene attualmente oltre 824 Mlbs di rame misurato e indicato e 29 Mlbs di rame equivalente inferito all'interno di una risorsa ad alta qualità di 36,2 milioni di tonnellate con una legge dello 1,07% CuEq. Inoltre, Granite Creek ha emesso 750.000 azioni ai fornitori del progetto di molibdeno LS come parte di un accordo di guadagno.
Granite Creek Copper (TSX.V:GCX)(OTCQB:GCXXF) ha anunciado el descubrimiento de una nueva zona mineralizada, denominada Gap Zone, en su proyecto de cobre-oro-plata Carmacks en Yukon, Canadá. El descubrimiento resultó de un programa de perforación de 1420 metros que consistió en cuatro agujeros. La Gap Zone, ubicada entre los pozos propuestos 147 y 2000S, fue rastreada por aproximadamente 170 metros y permanece abierta a lo largo de strike y en profundidad.
La empresa cree que este descubrimiento tiene el potencial de agregar tonelaje significativo y extender la vida útil de la mina delineada en la Evaluación Económica Preliminar de 2023. El proyecto Carmacks actualmente contiene más de 824 Mlbs de cobre medido e indicado y 29 Mlbs de cobre equivalente inferido dentro de un recurso de alta calidad de 36.2 millones de toneladas con un grado del 1.07% CuEq. Además, Granite Creek ha emitido 750,000 acciones a los vendedores del proyecto de molibdeno LS como parte de un acuerdo de ganancia.
Granite Creek Copper (TSX.V:GCX)(OTCQB:GCXXF)는 캐나다 유콘주에 있는 Carmacks 구리-금-은 프로젝트에서 Gap Zone이라는 새로운 광물화 지역의 발견을 발표했습니다. 이 발견은 네 개의 구멍으로 구성된 1420미터의 시추 프로그램을 통해 이루어졌습니다. Gap Zone은 제안된 147 및 2000S 구덩이 사이에 위치하며 약 170미터까지 추적되었으며, 깊이와 직선 방향에서도 열려 있습니다.
회사는 이 발견이 2023년 Preliminary Economic Assessment에서 설명된 상당한 양을 추가하고 광산 수명을 연장할 가능성이 있다고 믿고 있습니다. 현재 Carmacks 프로젝트에는 824 Mlbs의 측정 및 표시된 구리와 29 Mlbs의 추정 구리 등가가 포함되어 있으며 1.07% CuEq의 등급을 가진 3620만 톤의 고품질 자원이 있습니다. 또한 Granite Creek는 LS 몰리브덴 프로젝트의 공급업체에게 750,000주를 발행했습니다.
Granite Creek Copper (TSX.V:GCX)(OTCQB:GCXXF) a annoncé la découverte d'une nouvelle zone minéralisée, appelée Gap Zone, dans son projet de cuivre-or-argent de Carmacks au Yukon, Canada. Cette découverte résulte d'un programme de forage de 1420 mètres composé de quatre trous. La Gap Zone, située entre les fosses proposées 147 et 2000S, a été tracée sur environ 170 mètres et reste ouverte en longueur et en profondeur.
L'entreprise estime que cette découverte a le potentiel d'ajouter une quantité significative et d'étendre la durée de vie de la mine, comme indiqué dans l'évaluation économique préliminaire de 2023. Le projet de Carmacks contient actuellement plus de 824 Mlbs de cuivre mesuré et indiqué et 29 Mlbs de cuivre équivalent inféré au sein d'une ressource de haute qualité de 36,2 millions de tonnes avec une teneur de 1,07% CuEq. De plus, Granite Creek a émis 750 000 actions aux vendeurs du projet de molybdène LS dans le cadre d'un accord de gain.
Granite Creek Copper (TSX.V:GCX)(OTCQB:GCXXF) hat die Entdeckung einer neuen mineralisierten Zone, genannt Gap Zone, in seinem Kupfer-Gold-Silber-Projekt Carmacks im Yukon, Kanada, bekannt gegeben. Die Entdeckung resultierte aus einem Bohrprogramm von 1420 Metern, das aus vier Löchern bestand. Die Gap Zone, die sich zwischen den vorgeschlagenen Gruben 147 und 2000S befindet, wurde über etwa 170 Meter verfolgt und bleibt in der Länge und Tiefe offen.
Das Unternehmen ist der Ansicht, dass diese Entdeckung signifikante Tonnagen hinzufügen und die Lebensdauer der Mine verlängern könnte, wie in der vorläufigen wirtschaftlichen Bewertung 2023 skizziert. Das Carmacks-Projekt enthält derzeit über 824 Mlbs nachgewiesenes und angedeutetes sowie 29 Mlbs abgeleitetes Kupferäquivalent in einer hochgradigen Ressource von 36,2 Millionen Tonnen mit einem Gehalt von 1,07% CuEq. Darüber hinaus hat Granite Creek 750.000 Aktien an die Verkäufer des LS-Molybdänprojekts im Rahmen eines Earn-In-Vertrags ausgegeben.
- Discovery of new Gap Zone mineralization, potentially adding significant tonnage and extending mine life
- Successful validation of induced polarity geophysical technique for predictive targeting
- Carmacks project contains over 824 Mlbs Measured and Indicated and 29 Mlbs Inferred copper equivalent resources
- Project is road accessible and within 20 km of the Yukon electrical grid
- Recent work demonstrated recoveries exceeding the target outlined in the PEA
- Drill results are pending, actual mineralization grades not yet confirmed
- Deferral of work commitment for LS molybdenum project, potentially indicating delays or challenges
VANCOUVER, BC / ACCESSWIRE / October 2, 2024 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCQB:GCXXF) ("Granite Creek" or the "Company") is pleased to announce that the now completed 2024 drill campaign on at its wholly owned Carmacks copper-gold-silver project located in central Yukon, Canada yielded the discovery of a new mineralized zone.
The drill program consisted of 1420 metres in four drill holes, designed to test new targets adjacent to existing high-grade, pit-constrained resources, and was successful in locating and partially delineating the Gap Zone. The newly discovered zone was traced for approximately 170 meters and remains open along strike and at depth, with copper mineralisation observed in three of four drill holes. The Gap Zone lies between the proposed 147 and 2000S pits and was first identified by a 2022 geophysical IP survey (see news release dated November 21, 2022). Likely representing a fault offset from the main 147 Zone, the Gap Zone has the potential to add significant tonnage and extend the mine life envisioned by the 2023 Preliminary Economic Assessment (see news release dated January 19, 2023)
Mineralized sections have been sampled and delivered to the lab for analysis with results pending. Observed mineralization and host rocks were similar in appearance to known ore zones on the property.
Figure 1 - Gap Zone plan view showing drill locations and trace
Granite Creek President and CEO, Timothy Johnson, stated, "We are pleased to confirm the effectiveness of the induced polarity geophysical technique in predictive targeting of mineralization at the Carmacks project. Despite a long history of exploration on the project primarily focused on the 147 Zone, new discoveries can and will continue to be made on our Carmacks copper-gold-silver project. The project hosts significant copper-gold-silver resources and has the potential for expansion throughout the 177 square kilometre land package in this top mining jurisdiction."
Carmacks Deposit
The 177 sq km, Carmacks project contains over 824 Mlbs Measured and Indicated and 29 Mlbs Inferred copper equivalent ("CuEq") metal within a National Instrument 43-101-compliant, high-grade resource of 36.2 million tonnes grading 1.07 % CuEq (
The 2022 Carmacks Preliminary Economic Assessment ("PEA"), completed by SGS Canada, identified increased resources along with improved recovery as prime means of increasing the Net Present Value ("NPV") of the project. Work completed this year by Kemetco Research (see news release dated January 17, 2024) demonstrated that recoveries exceeding the target outlined in the PEA can be achieved. The just completed drill program was designed to show that significant resource expansion is possible and was specifically targeting areas that could lead to an expanded mine life as envisioned by the PEA.
LS Molybdenum Project
The vendors of LS molybdenum project have agreed to defer work commitment the Company needed to complete for the calendar year for 2024. 750,000 shares have been issued to the vendors per the terms of the earn in agreement (see news release dated March 23, 2023).
About Granite Creek Copper
Granite Creek Copper, a member of the Metallic Group of Companies, is a focused on the exploration and development of critical minerals projects in North America. The Company's projects consist of its flagship 177 square kilometer Carmacks project in the Minto copper district of Canada's Yukon Territory on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM project, both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company's website at www.gcxcopper.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Qualified Person
Debbie James P.Geo, has reviewed and approved the technical information contained in this news release. Ms. James is a Qualified Person as defined in NI 43-101 and supervised the 2024 drilling program
1Mineral Resources are reported within a conceptual constraining pit shell that includes the following input parameters: Metal prices of
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements" or "forward-looking information". All statements in this release, other than statements of historical facts including, without limitation, statements regarding expected use of proceeds from the private placement and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Granite Creek Copper Ltd.
View the original press release on accesswire.com
FAQ
What is the new discovery announced by Granite Creek Copper (GCXXF) in October 2024?
How much copper equivalent resource does the Carmacks project contain as of October 2024?
What was the size of the 2024 drill program at Granite Creek Copper's (GCXXF) Carmacks project?
Where is the newly discovered Gap Zone located at Granite Creek Copper's (GCXXF) Carmacks project?
