Granite Creek drills 0.94% CuEq over 120.65 metres at Carmacks, Yukon

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Granite Creek Copper Ltd. [GCX-TSXV; GCXXF-OTCQB; A2PFE0-FSE] reported final assay results from the company’s phase 2 reverse circulation  (RC) and phase 3 diamond drill programs at the 100%-owned Carmacks project, Yukon Territory.

The objective of the Phase 2 RC program was early-stage evaluation of additional targets adjacent to known zones as well as step-out drilling at the Carmacks Norths Zone A area. The program was successful in identifying mineralization in 13 of 20 holes with several areas prioritized for follow-up diamond drilling in the 2022 field season. The Phase 3 diamond program was targeted at confirming the geometry in Zone 2000S, complementing hole CRM21-011 which intercepted 105 metres of 1.18% Copper Equivalent (CuEq) (0.96% copper, 0.01% molybdenum, 0.18 g/t gold, and 4.06 g/t silver). Additional drilling was conducted in the central portion of Zone 13 to further upgrade resources in this zone.

Mr. Johnson commented: “We are extremely pleased with the results of our 2021 exploration program which achieved all of our objectives and exceeded our expectations in several important respects. We expanded sulfide mineralization in three of the main zones at Carmacks which will be reflected in an updated NI 43-101 resource estimate, followed by a new mine plan which is being developed to incorporate both oxide and sulfide material. We anticipate the sulfide resources could make a significant difference to the mine life and economics of the Carmacks deposit and we look forward to further defining that potential.”

The results of Phase 3 have highlighted the predictable geometry of zone 2000S. Both drill holes intersected mineralization well below the current sulphide resource with drill hole CRM21-023 intersecting mineralization approximately 120 metres below the base of the inferred sulphide resource and extending through to approximately 230 metres below the base of the current inferred sulphide resource.

Two holes drilled in Zone 13 continue to highlight the potential of this zone with CRM21-025 intercepting 120.65 metres grading 0.76% copper, 0.016% molybdenum, 0.14 g/t gold, 2.53 g/t silver, or 0.94% CuEq. Hole CRM21-023 returned 121.77 metres of 0.39% copper, 0.007% molybdenum, 0.13 g/t gold and 1.76 g/t silver, or 0.52% CuEq, including 52.75 metres of 0.63% copper, 0.009% molybdenum, 0.21 g/t gold and 2.74 g/t silver, or 0.84% CuEq. Refer to company press release for complete drill results.

These 2021 drill campaign results will be incorporated into an updated NI 43-101 resource estimate being prepared by SGS Canada.

The phase 2 RC drilling was conducted in zones 2, 5 and 12 at Carmacks and Zone A at Carmacks North. The purpose of the program was to test zones peripheral to the deposit and find targets for follow up with the diamond drill. The program was most successful in Zone 5 where 4 of 4 holes intersected mineralization and, consequently, Zone 5 will be a priority for drilling in 2022. The program was also successful in Zone 12 where it was used to trace and test mineralization on the west side of the zone that is not included in the 2016 resource estimate. Six of seven holes in zone 12 intersected mineralization. At Zone 2, mineralization was intersected in 2 of 6 holes.

At Zone A, the drill was used to test geophysical targets, but the program was cut short due to drilling difficulties. One of the 3 holes intersected mineralization but the other two did not reach target depth due to difficult drilling conditions.




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