Decade up 104% on B.C. copper drilling news
Decade Resources Ltd. [DEC-TSXV] shares were up by over 100% Wednesday in heavy trading after the company announced a major copper discovery at the Nobody Knows project in Terrace, B.C.
The company said it has cored significant copper sulphide mineralization intercepts from the initial three diamond drill holes testing the recently discovered Nobody Knows No. 2 zone. The project is part of a large claim holding consisting of 48 contiguous mineral claims which include Treasure Mountain, Nobody Knows, Dardanelle (presently farmed out) and Treasure Mountain properties covering 17,470 hectares. All 48 mineral claims are 100%-owned by Decade Resources
The shares rose 104.5% or 11.5 cents to 22.5 cents on volume of 5.26 million, putting it among the most actively traded stocks on the TSX Venture Exchange. The shares trade in a 52-week range of 13.5 cents and $0.065.
Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced. Its properties and projects are all located in the Golden Triangle area of British Columbia.
The company said The Treasure Mountain – Nobody Knows properties have great potential to host copper-silver deposits and/or copper-gold bearing stockworks. They stretch from 10 to 40 air kilometres east of Terrace, on the northern slopes of the Copper River valley.
At present there are over 14 known copper-bearing areas, which feature individual copper occurrences of which only part have been examined in the 2022 exploration program.
On Wednesday, the company said 500 metres of drilling has been completed in three holes. Drilling from one drill station has intersected thick intervals of copper sulphides in felsic volcanic rocks.
A total of 30 metres of visual sulphides intersected in drill hole NB23-03 consisted of 30 metres of coarse disseminated and stringer type visual copper sulphide (dominantly bornite and minor chalcocite), and 10 metres of visual disseminated copper sulphide (dominantly chalcopyrite) below the bornite/chalcocite mineralization.
The company said copper mineralization present in hole NB23-01 and 02 has been sheared with abundant ground up copper mineralization (bornite) in the fault gouge.
The drill area is 50 metres uphill from sample A22-240 which assayed 41.2% copper in a bornite and chalcopyrite rich sample. It is also 1.2 kilometres from the original showing that gave assays up to 5.0% copper in grab samples from a red bed environment.
The company said it recently received a drill permit for the Nobody Knows claim group. It was planning to mobilize a drill to test the No 2 zone. It said the presence of an extensive network of logging roads would aid the mobilization and completion of an initial 500-metre drill program. Sampling in 2023 has concentrated on the Nobody Knows No 2 showing area in order to identify the source of the rich bornite-chalcopyrite boulder float rock that assayed 41.2% copper and 220 grams per tonne silver.