Granite Creek Copper Ltd. (TSX.V: GCX) (“Granite Creek” or “the Company”) announces the receipt of a ten-year Class 4 exploration permit for physical work on the Company’s Stu Copper-Gold Project (“the Permit”) in the Yukon’s Minto Copper District, and the mobilization of field exploration crews.
The Permit, which covers approximately 68 square kilometres, including the priority A and B zones, allows for up to 100,000 meters of diamond drilling and 60,000 meters of RC drilling, in addition to trenching, road construction and upgrading. This new permit, together with an existing permit over the southern part of the property, means that over 95% of the Company’s claims are permitted for exploration activities (see Figure 1 below).
Tim Johnson, President and CEO of Granite Creek Copper, stated, “Receipt of this permit covering the northern part of the Stu property including the A and B zones is an important milestone for the Company as it gives us the ability to maximize the efficiency of our programs for this year and subsequent years by enabling our teams to immediately work on our highest priority target areas. We are excited to review the internal geological model and use that model to drive future programs as we uncover new information from across the property.”
Figure 1 – Permit outline, target areas, and high-grade mineralized zones
2020 Field Exploration Program
Granite Creek has begun mobilising crews to undertake a field program that will consist of re-sampling of historic core, multi-element soil sampling to determine the precious metal response in soils, and identifying drill sites for a follow up diamond drilling campaign, potentially later in the 2020 season.
Prior operators selectively sampled 20-30% of the core from the highly prospective Zone A using an in-house lab and very high precious metals detection limits based on the technology available at the time, resulting in incomplete information. (See selected drill intercept table below). As part of internal 3D modeling and review of historic drilling, Granite Creek has outlined a core re-sampling program that will include full multi-element analysis with industry standard detection limits for base and precious metals in order to ensure the proper, accurate inclusion of the full suite in core assays. In addition to assays, other core measurements such as magnetic susceptibility and spectral analysis will be taken to assist with alteration mapping and identification of other prospective areas of the property. The program is designed to provide a primary data set to be used to advance the area of historic drilling towards a formal National Instrument 43-101 compliant resource and assist in drill targeting efforts to qualify and expand the same.
About the Stu Copper-Gold Project
The Stu Copper-Gold project is part of the Minto Copper Belt, a linear stretch of intrusion hosted Cu-Au-Ag mineralization in the Dawson Range, south-central Yukon Territory. Centered on the Minto Mine the belt extends from north of the Yukon/Pelly River confluence southeast to the community of Carmacks. The Minto Copper Belt has been proven productive, with one operating copper mine and one deposit advancing towards production. The Stu property lies on strike between the two deposits, displays the same styles of mineralization, and has shown preliminary copper values of a similar calibre. To date the Company has identified 4 multi-kilometre exploration targets (see figure 1).
Copper, gold, and silver mineralization is contained in foliated to gneissic granodiorite (see Figure 2 below for Zone A geology), hosted within a large granodiorite intrusion. Historic drilling at Zone A in the centre of the property returned copper grades of 2.4 to 3.4% over 14 to 20 m widths in drill core from higher-grade mineralized zones dominated by copper sulphide (chalcopyrite, bornite and lesser copper oxide) mineralization. Mineralization has been confirmed as deep as 380 m below surface. Surface grades from trenches and upper levels of drill holes range from 0.18% to 0.55% Cu over widths of up to 20.0 m. Shallower mineralization is dominated by copper oxides (malachite, tenorite and azurite) with the underlying sulfide mineralization typically returning higher grades.
Figure 2 – Zone A detail
Live Webinar – July 2, 2020
Granite Creek Copper will be hosting a live webinar on Thursday, July 2 to discuss the most recent developments with the Company and the 2020 exploration season. Click here to register or contact us at firstname.lastname@example.org.
Canadian Mining Symposium Replay
Granite Creek participated in the recent Canadian Mining Symposium hosted by The Northern Miner. An archived recording of our video presentation and follow-up Q&A with President & CEO, Tim Johnson, is available on the Metallic Group YouTube Channel.
About Granite Creek Copper
Granite Creek Copper is a Canadian exploration company focused on the advancement of its 100%-owned Stu Copper-Gold project located in the Yukon’s Minto Copper District. This 115-square-kilometer property is on trend with Pembridge Resources’ high-grade Minto Copper-Gold Mine to the north and the Carmacks Copper-Gold-Silver project to the south The Stu project has excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek and the Stu Copper-Gold Project can be viewed on the Company’s website at www.gcxcopper.com.