CopperBank Drills 300 Meters of 0.53% Cu at Pyramid including 40.85 Meters of 1.17%

Watch prelim drills video with CEO Gianni Kovacevic

CopperBank Resources Corp. (CSE:CBK) is pleased to report results from the third and fourth drill holes from its thirteen diamond drill hole (DDH) summer 2017 program on its 100% controlled Pyramid Copper Project. Highlights in-clude:

  • DDH 17PY033 intersected, 300 meters of 0.53% copper (0.65% CuEq), including 40.85 meters of 1.17% copper (1.31% CuEq).
  • DDH 17PY034 intersected 232.88 meters of 0.19% copper (0.33% CuEq).
  • The results from 17PY033 and previously reported 17PY032, confirm a broad horizon of con-tinuous, higher grade mineralization over 400 meters long from 17PY032 to historical drill hole 11PY016.
  • Results from the higher grade portions of these holes are not falling within the resource en-velope of the historical mineral estimate (SRK 2013).
  • The Main Zone is still open laterally and to depth.
  • No deleterious chemical elements such as arsenic, antimony or selenium are present in signif-icant levels

The 2017 drilling program, comprising 3,690 meters in thirteen diamond drill holes, was designed to ver-ify the extensions of known mineralization within the deposit and to validate the existing block model established by the historical resource estimate (SRK, June 2013). Detailed maps and cross sections can be found here (click). Diamond drill holes 17PY031 and 17PY032 were previously reported (October 5, 2017).

CopperBank Executive Chairman, Gianni Kovacevic comments: “This program was carefully designed to increase tonnage and examine the higher grade portions of the deposit. Our team is very pleased to re-port multiple intervals of broad and continuous mineralization at grades higher than the historical re-source estimate. We await the results of the final nine drill holes, so our team can see how these results impact the historical resource estimate, and where future drilling should take place. ”

Drill Hole 17PY033

Located in the Main Zone, DDH 17PY033 was drilled to a depth of 375 meters and confirmed the exist-ence of significant copper mineralization associated with the main quartz diorite porphyry intrusion as reported in DDH 11PY016 located 150 meters to the East. The contact between the hornfels and the clay altered quartz diorite porphyry returned a broad interval yielding over 1% copper. Mineralization is dominantly chalcopyrite with chalcocite, disseminated throughout the stratigraphic sequence. View table for detailed results.

From (m) To (m) Width (m) Cu (%) Mo (%) Au (g/t) CuEq (%)
64 364 300 0.53 0.02 0.12 0.65
including
284.68 325.53 40.85 1.17 0.01 0.16 1.31

Note: The copper equivalent (CuEq) values in all the tables in this press release were cal-culated based on estimated prices of US$2.75/lb of copper, US$1200/oz of gold and US$7.25/lb of molybdenum. No metallurgical tests were done. Metal recovery is un-known and was not taken into account. True width of intervals is yet to be defined.

Drill Hole 17PY034

Located in the North Zone between historical holes DDH 11PY004 and QP-11, DDH 17PY034 was drilled to a depth of 239 meters. Hornfels intruded by numerous porphyry dykes hosts continuous copper mineralization with higher molybdenum grades than typically observed elsewhere in the deposit. The weighted average grade of the entire hole returns 0.19% Cu over 232.88 meters. Near-surface minerali-zation is mainly composed of disseminated chalcopyrite and molybdenite with chalcocite.

From (m) To (m) Width (m) Cu (%) Mo (%) Au (g/t) CuEq (%)
7 239.88 232.88 0.19 0.04 0.06 0.33
including
215 235 20 0.26 0.04 0.07 0.40

 

Filed in: Copper, Resources

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