SSR Mining drills 241.5 metres of 0.74% CuEq at Çöpler; shares up
SSR Mining Inc. [SSRM-TSX, NASDAQ] reported positive results from the diamond drilling program for the Çöpler copper-gold porphyry target in east-central Turkey. The C2 target sits directly below the Çöpler Main pit, which is currently in production. Four diamond drill holes were completed along a line of approximately 730 metres, with all holes intersecting gold-rich copper porphyry mineralization. Chalcopyrite is visible in the drill core with mineralization starting at or close to the bottom of the ultimate Çöpler Main pit.
The four diamond drill holes had intercepts including:
CDD955 returned 0.74% CuEq over 241.5 metres from 37 metres, including 1.77% CuEq over 32 metres from 96.2 metres, 1.92% CuEq over 17.4 metres from 136.2 metres and 0.42% CuEq over 166.2 metres from 287.5 metres.
CDD935 returned 0.86% CuEq over 108.6 metres from 103.1 metres, including 1.19% CuEq over 8.6 metres from 146.3 metres, 1.40% CuEq over 23.6 metres from 161 metres and 1.36% CuEq over 5.3 metres from 199 metres.
Rod Antal, President and CEO, said: “The C2 results are another example of the long-term potential of Çöpler. It has long been contemplated that there are copper-gold porphyries associated with the Çöpler mineralization and recent in-pit exploration mapping identified mineralization and structures pointing to the possibility of a porphyry. Drilling began midyear with the first four holes all returning long mineralized intercepts. While we are in the early stage for this exploration target, we are excited by the potential of C2 for a large volume and higher-grade zone close to what will be the ultimate bottom of the Çöpler Main pit. Drilling is continuing with three drills exploring the extent of the mineralization while we also start metallurgical testwork programs. C2 is another excellent example of our organic growth opportunities.”
The C2 target lies within the Main pit of the Copler mine. Copler is currently mining sulphide gold ore, hosted mainly in hornfels, in the Main pit.
Between June, 2020, and September, 2020, SSR Mining drilled four diamond core holes totalling 1,882.5 metres, designed to test the C2 target. The holes are located in the Main pit, all within an 80%-owned and -managed licence.
In trading on November 25, shares of SSR Mining gained $0.50 to $22.85 on a volume of 528,000 shares traded.