Granite Creek Copper Ltd. [GCX-TSXV; GCXXF-OTC; A2PFE0-FSE] reported complete assay results from its 2020 field exploration program at the recently consolidated, 176-km2 Carmacks copper-gold project in the high-grade Minto copper district of Canada’s Yukon territory.
The company completed 1,067 metres of diamond core drilling in five holes in an inaugural program with the dual objectives of advancing the Carmacks North (formerly Stu) Zone A target toward definition of a maiden mineral resource and expanding existing drill-defined sulphide mineralization at Zone 13 on the Carmacks deposit.
Highlights included 127 metres of continuous copper mineralization, in drill hole CRM20-001, grading 0.85% copper equivalent (CuEq), including 28.65 metres of 1.74% CuEq and 19.2 metres of 1.19% CuEq from Zone 13 in the Carmacks deposit;
High-grade oxide mineralization at Carmacks North Zone A intersected in hole STU20-003 returned 10.28 metres of 1.93% CuEq within a broader intercept of 25 metres of 1.27% CuEq.
A 19.2-metre intersection of 0.104% molybdenum in CRM20-001 suggests potential for molybdenum to increase contained metal value.
Granite Creek President and CEO Tim Johnson stated: “We are very pleased with the success of our inaugural drill program on the recently combined Carmacks and Carmacks North Project. The opportunity presented by the expansion potential of an already significant resource at Carmacks combined with the discovery potential at Carmacks North has positioned our shareholders with excellent exposure to the burgeoning copper bull market.”
The Carmacks deposit contains 23.76 million tonnes of NI 43-101 compliant resources in the measured and indicated categories grading 0.85% copper, 0.31 g/t gold and 3.14 g/t silver, for contained metal of 446 million pounds copper, 237,000 oz gold and 2.4 million oz silver.
High-grade intercepts of 7.5% CuEq over 4.63 metres in hole STU20-002 and 1.9% copper equivalent over 10.28 metres in hole STU20-003 – both drilled at an offset to high-grade historical holes 80-09 and 80-14 – confirmed modelling work done by the company. Two thousand twenty-one exploration plans include deep penetrating geophysical surveys targeting underlying sulphide potential, trenching to confirm orientation of mineralization and follow-up drilling.
Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the Yukon’s Minto copper district where it holds the Carmacks and Carmacks North Project.