Canadian Copper drills 1.44% copper over 11.25 metres at Chester, New Brunswick
Canadian Copper Inc. [CCI-CSE] reported positive exploration results from its next 13 holes at the 100%-optioned Chester copper project located in the Bathurst mining camp in New Brunswick, Canada.
Simon Quick, CEO, said, “We are pleased with the results of Phase Two drilling at the Chester Central and East Zones. These two areas previously did not contribute to the historical Mineral Resource Estimate at Chester. The Phase Two program has established Central and East zone grade and spatial continuity, and as a result, these resources will be incorporated into the updated MRE. The Chester historic geologic model continues to deliver within expectations.”
Highlights of Phase Two Program include Hole C21-14 that returned 1.44% copper over 11.25 metres in a continuous mineralized envelope grading 0.69% copper over 25.7 metres.
Hole C21-15 returned 2.48% over 2 metres in a continuous mineralized envelope grading 0.92% copper from 13 metres.
All holes within the massive sulphide zones intersected anomalous gold and silver mineralization.
Similar to the first phase of drilling at Chester, the program successfully met the designed objectives of validating historical resource and geologic model for the three primary zones, Central, East, and West Zone (Copper Stringer), which are all located near surface.
Further exploration is planned for the presence of gold and silver mineralization near surface within the gossanous Central and East zones.
Each of the above stated objectives were met by the Phase Two program. All 13 drill holes intersected the near-surface target massive sulphide mineralization validating the historical geologic model. Also, portions of the Chester historical resource estimate consisting of dated drilling (pre-1960’s) may now be included into the upcoming MRE because of new data collected. Additionally, the continuous presence of silver and gold across the resource is a positive development, bringing potential additional value to the ore body.
The Chester copper deposit is a volcanogenic massive sulphide (VMS) resource containing three zones; the Central Zone (massive Sulphide), the East Zone (massive sulphide), and the West Zone (Copper Stringer), which are all located near surface. Previous mining development in 1974 included a 470-metre decline targeting the West Zone and produced 30,000 tonnes of bulk samples grading +2.0% copper (Geoscience Canada, McCutcheon, 2020). No other development has occurred on the property.
The Chester historical Measured and Indicated mineral estimate is 1.4 million tonnes of 1.4% copper, for 42.449Mlb copper. Inferred resources are 2,089,000 tonnes of 1.26% copper, for 57.907Mlb copper.
Canadian Copper is not treating the “historical resources estimate” as a “current resources estimate” or “mineral reserves”, as it has not taken steps to identify what work needs to be done to verify, upgrade or re-classify the “historical resources estimate” using a qualified person from Puma or independent third party.