Copper North Expands Copper-Gold Mineralization at Carmacks Project, Yukon
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 23, 2015) - Copper North Mining Corp. ("Copper North" or the "Company") (TSX VENTURE:COL) is pleased to announce results from infill drilling at the Carmacks Cu-Au-Ag project, Yukon, Canada. Drill holes CN15-09 to CN15-22 were completed in Zone 13 located approximately 500 metres southeast of drilling in Zone 2000S (see September 8, 2015 news release).
The 13 drill holes, drilled over a length of 280 metres of Zone 13, have confirmed a thick near-surface zone of oxide copper, a transition zone with native copper and sulphide copper mineralization that remains open along strike and to depth. Copper North is pleased with the drill results and a resumption of definition drilling is under consideration.
Zone 13 Drilling Highlights
- CN15-13: 31.3 metres of 0.80% Total Cu, 0.18 g/t Au, 2.57 g/t Ag
- CN15-19: 102.1 metres of 0.37% Total Cu, 0.09 g/t Au, and 1.21 g/t Ag
- CN15-20: 82.6 metres of 0.52% Total Cu, 0.14 g/t Au, and 1.85 g/t Ag
- CN15 -21 119.6 metres of 0.35 % Total Cu, 0.08 g/t Au, and 0.98 g/t Ag
The Zone 13 area of drilling is located approximately 700 metres south-east from the edge of the proposed open-pit for Zones 1, 4, 7 and 7A. Zone 13 mineralization is not included in the Measured and Indicated resource of 11,980,000 tonnes grading 1.07 % total copper, 0.86% acid-soluble copper in Zones 1, 4, 7 and 7A (see Preliminary Economic Assessment filed on May 30, 2014). Copper North believes that it has completed sufficient definition drilling in Zone 13 to prepare a resource estimate in the drill area, potentially increasing the resources and the life of the proposed mine.
All mineralized intercepts from the 13 holes are within 120 metres of surface. Assays for oxide copper, native copper transition and sulphide copper mineralization are summarized in Table 1. Intercepted widths of over 100 metres demonstrate that Zone 13 is a wide zone of near-surface copper mineralization that has the potential to be mined with a low strip-ratio.
Estimated true widths vary but based on geological interpretation of cross-sections, true widths are estimated to be typically 80 to 90% of the intersected widths. The drill hole locations, dip angles and azimuths can be found, along with maps and cross sections on Copper North's website www.coppernorthmining.com.
The estimated tonnage potential of mineralization along the approximate 280 metre strike length drilled in Zone 13 is between 7 and 9 million tonnes. This tonnage potential has been calculated by geometrical and 3D wireframe methods based on the volume of mineralized material interpreted between mineralized drill intercepts, using a density of 2.7 t/m3,and extending to depths of up to 150 m below surface.
Zone 13 is open to the north and south - exploratory drill holes and trenching in these areas show that near surface oxide copper mineralization is present over a total strike length of more than 700 metres, including the 280 metre section reported herein. The Company expects that with further infill drilling, the near-surface resource potential of Zone 13 could be significantly expanded.
Investors are cautioned that the tonnage potentials indicated here are not NI43-101 compliant resources or reserves. Tonnage potentials were calculated based on volumes of rock derived from the geological interpretation between drill intercepts that contain visible copper mineralization. No statement is made regarding the potential grade of the tonnage potentials.
Table 1: Drill results from Zone 13.
|Hole||From (m)||To (m)||Intercept width (m)||Total Cu (%)||Acid-soluble (oxide) Cu (%)||Au (g/t)||Ag (g/t)||Style of mineralization|
|CN15-14||19.50||119.49||99.99||0.23||0.06||0.07||0.86||Oxide, Native, Sulphide|
|CN15-15||13.80||104.12||90.32||0.29||0.08||0.07||0.81||Oxide, Native, Sulphide|
|CN15-16||hole failed owing to poor ground conditions|
|CN15-19||34.00||136.1||102.10||0.37||0.14||0.09||1.21||Oxide, Native, Sulphide|
|CN15-20||27.50||110.10||82.60||0.52||0.29||0.14||1.85||Oxide, Native, Sulphide|
|CN15-21||34.75||154.30||119.55||0.35||0.10||0.08||0.98||Oxide, Native, Sulphide|
Quality assurance and quality control procedures include the systematic insertion of duplicate and standard samples in to the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and were shipped straight to the preparatory laboratory of ALS Minerals in Whitehorse. All geochemical analyses were performed by ALS Minerals in North Vancouver. Total copper assays were performed by four-acid digestion with an AAS finish. Soluble copper assays were carried out by sulphuric acid digestion with an AAS finish. Gold was analysed by a 30 g charge fire assay with an AAS finish. Silver was analyzed by four-acid digestion and ICP-AES finish.
Dr. Harlan Meade, P.Geo. is the Qualified Person responsible for the preparation of this news release.
On behalf of the Board of Directors:
Dr. Harlan Meade, President, CEO and Director
About Copper North
Copper North is a Canadian mineral exploration and development company. Copper North's assets include the Carmacks Project located in the Yukon, the Redstone Property located in the Northwest Territories, and the Thor Property in British Columbia. Copper North trades on the TSX Venture Exchange under the symbol COL.
This news release includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to results from current and previous exploration on the Carmacks Project; proposed exploration plans, their timing, and results achieved from such activity; the potential for expanding the known mineral resources; development, engineering and permitting activities, and their timing; and future economic operating results. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the timing and success of current and future exploration and development activities; exploration and development risks; market prices; exploitation and exploration results; availability of capital and financing; general economic, market or business conditions; uninsured risks; regulatory changes; defects in title; availability of personnel, materials and equipment; unanticipated environmental impacts on operations; and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the current and proposed exploration and development of the Carmacks Project will proceed as planned; early exploration success will increase mineral resources; market fundamentals will result in sustained metals and mineral prices; and any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Dr. Harlan Meade
President and Chief Executive Officer