Granite Creek Copper Updates on Fall Drill Program and Releases New Corporate Presentation
Granite Creek Copper Ltd. (GCXXF) has updated its fall drill program and released a new corporate presentation. Following the acquisition of Copper North, the Carmacks and Stu projects are now combined as Carmacks North. The drill program, which included 1,067 meters across five holes, confirmed significant copper mineralization across all drill sites. The company aims to expand resources and assess potential new discoveries. A live webinar is scheduled for December 3, 2020, where CEO Tim Johnson will discuss further developments.
- Significant copper mineralization encountered in all five drill holes.
- The acquisition of Copper North enhances project size and resource potential.
- Plans for resource expansion and assessment of new targets underway.
- None.
VANCOUVER, B.C / ACCESSWIRE / November 30, 2020 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTC PINK:GCXXF) ("Granite Creek" or the "Company") is pleased to provide an update on the Company's fall drill program and announce an updated corporate presentation. The new presentation covers the recent combining of the Carmacks and Stu projects (Stu project re-named as Carmacks North) on closing of the acquisition of Copper North as announced November 27, 2020.
Live Webinar
Granite Creek Copper will be hosting a live webinar event on Thursday, December 3rd at 08:00PST / 11:00am EST during which President & CEO, Tim Johnson, will discuss the latest developments with the Company and plans moving forward. Click here to register.
New Presentation
Granite Creek is pleased to announce that a new corporate presentation referencing the combined projects and the Company's vision for growth of resources is available on the Company's website. Building out from the base of NI 43-101(1) compliant resources of 23.76 million tonnes (oxide and sulphide combined) grading
Fall Drill Program
The Company completed 1,067 meters of drilling in five holes on the combined Carmacks and Carmacks North projects in October and November of this year. The program was designed to build the basis for resource delineation at Carmacks North Zone A (formerly known as Stu Zone A) and to test for potential sulphide mineralization expansion at Carmacks in Zone 13. The Company is pleased to announce that significant copper mineralization was encountered in all five holes and assays are currently pending.
Drillhole ID | Easting | Northing | Azimuth | Dip | Length (m) | Target |
STU20-001 | 404320 | 6922000 | 215 | -70 | 181.84 | Carmacks North - Zone A Higher grade mineralization |
STU20-002 | 404320 | 6922000 | 215 | -42 | 160.02 | Carmacks North - Zone A Higher grade mineralization |
STU20-003 | 404386 | 6921930 | 215 | -45 | 198.12 | Carmacks North - Zone A Higher grade mineralization |
CRM20-001 | 412844 | 6912425 | 0 | -90 | 247.80 | Sulphide intersection - Zone 13 |
CRM20-002 | 412887 | 6912447 | 0 | -90 | 278.89 | Sulphide intersection - Zone 13 |
Total meters drilled | 1066.67 | |||||
ZONE A
Diamond drillholes STU20-001 and STU20-002, drilled at 215o azimuth and -70 and -45 dip respectively, were collared 40m meters northwest of historic hole 80-9 and targeted higher-grade mineralization (See Figure 1 below). Both holes intersected several sections of oxide and sulphide mineralization with geologists observing chalcopyrite, bornite, malachite, and azurite in the core. The longest mineralized interval in STU20-001 was from 151.60-172.52m. Significant mineralized intervals in STU20-002 were from 27.37-34.86m and 57.55-71.75m.
Drillhole STU20-003, drilled at 215o azimuth and -45 dip, was collared 47m SE of hole DDH 80-9 and 18m SE of historic hole 80-14. Although STU20-003 was collared quite close to DDH 80-14, the differing azimuth of 215o vs. 241o was planned to test a different part of the modeled zone. STU20-003 collared in oxide mineralization directly below the casing from 11.50-36.30m, and then intersected sulphide mineralization from 60.93-81.77m, 113.17-120.30m, and 189.67-194.39m.
Figure 1 - Zone A drill plan.
Figures 2 and 3 - Core images from STU20-003 showing malachite and azurite, the dominant copper oxide minerals in Zone A.
ZONE 13
Two vertical holes were drilled at the Carmacks deposit on Zone 13 targeting an area where previous drillholes had intersected significant widths of sulphide mineralisation. CRM20-001 was collared just behind WC-135 and targeted to test behind long sulphide intersection in holes WC-134 and WC-135 (see Figure 4 below). CRM20-001 intersected mineralization from 102.85-230.12m. No results have been received from the lab yet, but chalcopyrite, bornite and rare molybdenite were observed in the core. Based on the success of the first hole, CRM20-002 was drilled 50m to the east of and behind the first hole. CRM20-002 intersected mineralization from 174.40-195.68m and 222.22-223.60m. A fault located below the first zone of mineralization has offset the mineralization in a yet to be determined direction.
Figure 4 - Zone 13 section
Figure 5 - Core image from CRM20-001 showing net-textured chalcopyrite hosted in a biotite schist.
Figure 6 - Cut piece of core from CRM20-002 containing chalcopyrite hosted in migmatite.
About Granite Creek Copper
Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the Yukon's Minto copper district where it holds the Carmacks and Carmacks North project. This combined 176-square-kilometer property is on trend with Pembridge Resources' high-grade Minto copper-gold mine 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.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry's highest-grade producers of platinum & palladium, silver and copper. Member companies include Granite Creek Copper in the Yukon's Minto copper district, Metallic Minerals in the Yukon's Keno Hill silver district and Group Ten Metals in the Stillwater PGM-Ni-Cu district of Montana. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry's leading explorer/developers and major producers and are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven historic mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.
[1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada.
Quality Control and Quality Assurance
Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.
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
Forward-Looking Statements
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 time lines, 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/618748/Granite-Creek-Copper-Updates-on-Fall-Drill-Program-and-Releases-New-Corporate-Presentation
FAQ
What is the latest update from Granite Creek Copper (GCXXF) regarding its drill program?
When is Granite Creek Copper's webinar scheduled?
What are the key results from the latest drilling at Granite Creek Copper (GCXXF)?
