Nevada Copper drills 2.46% copper over 36.5 metres at Pumpkin Hollow, Nevada
Nevada Copper Corp. [NCU-TSX; NEVDF-OTC; ZYTA-FSE] provided an update on its 2023 regional and underground exploration plans and recent exploration results at its approximate 36-square-mile Pumpkin Hollow property located in Yerington, Nevada.
Randy Buffington, President and CEO, commented, “The Pumpkin Hollow property is a significant land package, in a well-known copper belt, in a strong mining jurisdiction and with substantial mineral resources already identified. These recent underground drill results indicate expansion to known copper mineralization. Additionally, our review of historical data, coupled with recent surface sampling and analysis, has identified several targets of interest that warrant follow-up.
“Our team is currently focused on bringing the underground back into operation, including completion of the remaining capital projects, and advancing development activities, both of which are well underway. The planned start-up of milling operations and concentrate sales in Q3 2023 is on track with targeted nameplate milling rates of 5,000 tons per day expected to be achieved by the end of 2023. With a significant portion of the property located on private land, we are in a rare position to quickly take advantage of growth opportunities once we achieve steady state underground operations.”
2023 Underground Drilling Highlights: Approximately 31,500 feet of drilling planned (approximately US$5 million program). Approximately 4,900 feet drilled to date with one drill rig, and a second drill rig recently deployed.
Results of drilling indicate mineralization extension in the ES zone, including 36.5 feet of 2.46% copper within a larger interval of 99 feet of 1.4% copper (Cu) in hole NC23U-007. Other notable results include 10 feet of 1.62% copper, 14.20 g/t silver and 0.251 g/t gold; 31.5 feet of 1.59% copper, 4.342 g/t silver and 0.264 g/t gold; as we;; as 35 feet of 1.82% copper, 3.986 g/t silver and 0.291 g/t gold.
The 2023 East North (EN) and East South (ES) underground drill program began in the first quarter of 2023 and is focused on stope definition drilling and near-mine resource expansion targets. Drilling is expected to continue in the ES and EN zone through the remainder of the year. The deposit remains open in all directions.
The Pumpkin Hollow property has not been extensively explored in the past as the company was focused on developing the known mineral resources, resulting in the development of the underground mine and advancement of the open pit project. Recent drone magnetic surveys have identified several high-quality targets of interest. Surface reconnaissance targeting these high-quality areas demonstrates that these targets have the potential to host additional independent mineralized systems, outside of the existing deposits.
Nevada Copper has identified a new exploration target, the Dimples target, located just south of the proposed open pit area in the southern area of the property. Analysis of recent surface grab samples has returned encouraging results including gold values of up to 61 g/t gold. A total of 55 grab samples have been collected in 2023 with 42 of those samples returning gold values greater than 0.1 g/t gold and 14 samples being greater than 1 g/t gold, in quartz rich veins within granodiorite porphyry. Higher-grade copper was identified in eleven samples, with values greater than 1.0% copper. High-grade copper rich zones are found in the granodiorite porphyry veins as well as skarns within metavolcanics. The Mesozoic rocks in the area are dominated by granodiorite porphyries and metavolcanics.
Surface sampling results from surface outcrops and prospect pits in the Copper Ridge area have indicated a potential for high-grade copper, highlighted by grades including 5.03% and 5.43% copper. The Copper Ridge property is located north of the main Pumpkin Hollow property covered by 103 hectares through unpatented and patented claims. The target was mined for high-grade copper in the early 1900s through several adits as well as a 122-metre inclined shaft.
The 2023 program is designed to follow-up on historic reconnaissance work completed in the early 1990s by a major copper company and has the potential to provide additional high-grade feed for the existing underground mill. A total of 70 historic and new rock samples were collected to confirm and extend the known mineralization along the vein and dike structures in the Yerington Batholith granodiorites. Forty-four samples assayed greater than 0.1% copper. Samples greater than 2.0% Cu were summarized in Table 1 of the Company’s February 13th, 2023, news release.
Follow-up trenching and a reverse circulation drill program are planned to further evaluate these high potential targets.
Nevada Copper’s two fully permitted projects include the high-grade Underground Mine and processing facility, which is expected to restart milling operations in 2023, and a large-scale open pit PFS stage project.