Junior taps more oxide copper at Yukon Territory mine project
Last updated 1/17/2016 at Noon
Copper North Mining Corp. Jan. 11 said results from a second phase of 2015 drilling at Carmacks continues to demonstrate the potential to significantly expand known oxide mineral resources at this copper-gold-silver project in the Yukon Territory.
The company said all 12 holes drilled during the second phase tapped near-surface oxide copper mineralization at the south end of Zone 13 and the north end of Zone 12.
Highlights from the drilling include: 23.85 meters of 0.73 percent oxide copper; 0.16 grams per metric ton gold and 2.6 g/t silver from a depth of 44.6 meters in hole CN15-32; 22.34 meters of 0.59 percent oxide copper, 0.13 g/t gold and 2.36 g/t silver from a depth of 42.26 meters in hole CN15-33; and 19.46 meters of 0.54 percent oxide copper, 0.13 g/t gold and 2.02 g/t silver from a depth of 21.34 meters in hole CN15-34.
Zone 13 drilling is located roughly 700 meters southeast of a proposed open-pit mine for zones 1, 4, 7 and 7A at Carmacks.
Zone 12 is located 200 meters further south.
Copper North said it is unclear whether the gap between zones 13 and 12 will connect as a continuous zone.
According to a preliminary economic assessment completed in 2014, zones 1, 4, 7 and 7A encompass a measured and indicated resource of 11.98 million metric tons averaging 1.07 percent total copper (0.86 percent acid-soluble copper).
A new resource estimate that includes the 2015 drilling in zones 12 and 13; drilling in Zone 2000S; and historical drill holes is in progress.
Copper North believes the shallow oxide resource encountered in these zones has the potential to extend the life of the proposed Carmacks mine.