Commander Resources identifies targets at Burn Project, British Columbia
Commander Resources Ltd. [TSXV: CMD] reported the results of a property-wide airborne magnetic survey and an induced polarization survey (IP) at its 100%-owned of Burn Copper and Gold porphyry project located 100 km north of Smithers, British Columbia.
Highlights: 170 km2 property in the Babine Copper Belt of northern BC preliminary drilling has identified a gold-rich zone (83.5 m of 1.08 g/t Au in hole B-2) and separate upper-level porphyry copper-gold zone (50 m of 0.24 Cu eq % in hole B-01).
A 1,875 line-km of helicopter high resolution Heli-GT magnetic survey at 100-metre line-spacing was completed covering the majority of the property; 18 line-km of IP survey over the core Charleston Target.
A large 3 km by 2 km (>15 mV/V) chargeability anomaly was outlined that is open to the south.
Drill targets outlined and supported include step-out drilling from existing discovery holes and larger untested areas of combined high chargeability with high magnetic responses.
Robert Cameron, President and CEO, stated, “The Burn project is a grassroots porphyry discovery by Commander that had early drill success on its first target tested. The current geophysical program was designed to provide guidance to put current drilling in context and to plan continued follow-up exploration. The large 6 km2 IP anomaly on the Charleston Target, a key hallmark of porphyry copper deposits, has outlined extensive elevated chargeability regions outside of the current drilled areas and at depth and require drill follow-up. Charleston is only one of five targets within the larger property boundary.”
Results from the survey show linear features interpreted as faults such as the newly recognized northwest structure that separates the gold zone intercepted in hole B-2 from the copper zone identified to the east. Furthermore, peak magnetic responses, in one case associated with a quartz-magnetite stockwork have shifted slightly as a result of the closer line spacing.
This new data will allow more accurate modeling of magnetic targets as well as providing an improved framework for interpreting the recent drilling.
The company also completed an 18 line-km induced polarization (IP) survey over the primary Charleston Target. This new survey has outlined a large 3 km by 2 km (>15 mV/V) chargeability anomaly that is open to the south. Peak values within the survey area exceeded 50 Mv/V. The majority of this anomaly remains untested.
Preliminary inversions and modeling of this data are underway and have indicated several regions of priority follow up. Drill targets outlined include continued step-out drilling from existing discovery holes and larger untested areas of combined high chargeability with high magnetic responses.
The Burn Property, which covers 17,675 ha, was initially acquired directly by Commander in 2018 to cover prominent gossans exposed along ridges. It is located within the Babine Porphyry belt 70 km north of two past producing mines at Bell and Granisle. Initial work at Burn in 2018 identified widespread phyllic-style alteration with trace amounts of chalcopyrite. There were no previous geophysical surveys or drilling.
Past work by Commander, included a property-wide airborne magnetic survey which outlined two prominent circular magnetic rings and several linear magnetic highs that coincide with stocks and dykes of Eocene age. A sampling program of stream sediment sampling, soil and rock sampling, and geological mapping has identified five alteration zones of which the largest is referred to as the Charleston zone.
The Burn project is 100%-owned except for an internal parcel of 127 hectares in which the company has the right to earn a 100% interest. Freeport-McMoRan Mineral Properties Canada Inc. holds a 2% Net Smelter Return Royalty (NSR) over the majority of the property and a 1% NSR over two mineral claims totaling 127 hectares optioned from a third party. The 2% NSR may be reduced to 1% for a payment of $US 5,000,000. The internal claim will have an additional 2% net smelter return royalty with a buydown provision to 1% for $1,000,000 and with a further buydown provision of the remaining 1% for $5,000,000.