Granite Creek Copper Receives Positive Metallurgical Results at Carmacks Copper-Gold Project in Yukon, Canada

Rhea-AI Summary

Granite Creek Copper Ltd. (OTCQB:GCXXF) announced positive metallurgy results from the Carmacks project in Yukon, Canada, highlighting the project's copper sulfide mineralization. Testing conducted by Sedgman Canada and Mining Plus revealed potential recoveries exceeding 95% for copper into a 25% copper concentrate, indicating favorable flotation processing. The company is advancing towards an updated Preliminary Economic Assessment (PEA). CEO Tim Johnson expressed optimism about the sulfide resources' potential as further testing is planned for gold and other minerals.

Positive

• Recoveries of greater than 95% for copper into a 25% copper concentrate are achievable.
• Copper sulfide minerals are well-liberated for flotation recovery at a P80 of 150 μm.
• The flotation testing indicates a simple reagent scheme for effective copper recovery.

Negative

• None.

VANCOUVER BC / ACCESSWIRE / October 14, 2021 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) ("Granite Creek" or the "Company") is pleased to announce the receipt of positive results from metallurgy testing completed on sulfide mineralized core samples from the Company's Carmacks project.

Testing was completed as part of trade-off studies now underway under the direction of Sedgman Canada and Mining Plus with the objective of developing the basis for an updated Preliminary Economic Assessment ("PEA") on the project. Two representative samples of copper sulfide material and one sample of copper oxide material were delivered to Bureau Veritas Commodities, Metallurgy Division, for rougher flotation kinetic testing and open cleaner flotation testing. The purpose of the testing was to determine how amenable the sulfide mineralization present at the Carmacks deposit was to concentration by flotation, what recoveries could be expected, and to lay the groundwork for further testing. A preliminary copper flotation recovery model was generated at a fixed 25% copper concentrate grade with test results as summarized below:

• Recoveries of greater than 95% for copper into a 25% copper concentrate are possible.
• Copper sulfide minerals are well-liberated for rougher recovery via flotation at P₈₀ of 150 µm.
• A secondary regrind size at P₈₀ of 25 µm can achieve 25% copper grade and high cleaner stage recovery.
• Gold is associated primarily with copper sulfide minerals and minor pyrite. Flotation of gold with copper concentrate is likely the most economical way to recover gold.
• High chalcopyrite content as the copper mineral and low pyrite content within the samples indicate a simple reagent scheme and relatively easy copper flotation upgrade.

The preliminary tests indicate that well-established flotation methods with known reagents will likely be the preferred processing method for sulfide material at Carmacks. The next stage of metallurgical test work will involve greater variability of samples to validate copper and gold recoveries as well as assessing potential levels of silver and molybdenum recoveries.

Granite Creek President and CEO, Tim Johnson, commented, "These initial metallurgical results are very encouraging and are an important step in bringing the sulfide resources present at the Carmacks deposit into an updated mine plan and PEA. The Company's belief in, and focus on, the copper sulfide potential at Carmacks and Carmacks North is being validated and advanced with every phase of work completed. We look forward to continuing to roll out the Carmacks story with substantive news flow throughout the remainder of the year and into 2022, including drill results from the recently completed, three-phase 2021 campaign."

About Granite Creek Copper

Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176-square-kilometer Carmacks project in the Minto copper district of Canada's Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Explorations Ltd, to the north, and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. 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
Metallic Group: www.metallicgroup.ca

Qualified Person

Mr (Sam) Yoon Seong Cho, MASC P.Eng., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting timelines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, 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.sedar.com.

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 source version on accesswire.com:
https://www.accesswire.com/668103/Granite-Creek-Copper-Receives-Positive-Metallurgical-Results-at-Carmacks-Copper-Gold-Project-in-Yukon-Canada

FAQ

What are the metallurgical results announced by Granite Creek Copper on October 14, 2021?

Granite Creek Copper announced metallurgical testing results showing over 95% recoveries for copper from the Carmacks project, supporting the potential for an updated PEA.

What testing methods were used in the metallurgical evaluation by Granite Creek Copper?

The metallurgical evaluation involved rougher flotation kinetic testing and open cleaner flotation testing of copper sulfide and oxide samples.

How does Granite Creek Copper plan to validate future recoveries from the Carmacks project?

Granite Creek plans to conduct further metallurgical tests focusing on sample variability to validate recoveries for copper, gold, silver, and molybdenum.

What is the significance of the metallurgical results for Granite Creek Copper's future operations?

The metallurgical results are significant as they support the potential for developing an updated mine plan and Preliminary Economic Assessment for the Carmacks project.

What is the next step for Granite Creek Copper following the metallurgical testing?

The next step involves further testing to explore recoveries of gold and other minerals from the Carmacks project.