by Greg Klein | January 27, 2016
A substantially increased resource adds a southern extension to Copper North Mining’s (TSXV:COL) Carmacks deposit in the Yukon. Released January 25, the estimate provides a maiden resource for zones 12, 13 and 2000S, which were added to a 2007 resource for zones 1, 4 and 7 to the north.
Carmacks holds oxide resources at shallow depths, while sulphide mineralization in the three new zones extends to as little as 50 metres, a much shallower depth than zone 1’s sulphide resource.
The new estimate shows oxide and transition mineral resources as follows:
- measured: 6.48 million tonnes averaging 0.86% total copper (0.69% acid-soluble copper and 0.17% sulphide copper), 0.414 g/t gold and 4.235 g/t silver
- indicated: 9.2 million tonnes averaging 0.97% total copper (0.77% acid-soluble copper and 0.2% sulphide copper), 0.357 g/t gold and 3.796 g/t silver
- inferred: 912,614 tonnes averaging 0.45% total copper (0.3% acid-soluble copper and 0.15% sulphide copper), 0.119 g/t gold and 1.9 g/t silver
The sulphide mineral resources show:
- measured: 1.38 million tonnes averaging 0.64% total copper (0.05% acid-soluble copper and 0.59% sulphide copper), 0.185 g/t gold and 2.166 g/t silver
- indicated: 6.69 million tonnes averaging 0.69% total copper (0.4% acid-soluble copper and 0.65% sulphide copper), 0.172 g/t gold and 2.344 g/t silver
- inferred: 8.4 million tonnes averaging 0.63% total copper (0.03% acid-soluble copper and 0.61% sulphide copper), 0.15 g/t gold and 1.994 g/t silver
Zones 1, 4 and 7 used a cutoff of 0.25% total copper for oxide, transition and sulphide mineralization. Zones 2000S, 12 and 13 used a 0.15% acid-soluble copper cutoff for oxide and transition mineralization, and a 0.25% total copper cutoff for sulphide mineralization.
Having drilled only about 60% of the mineralized trend’s length, the company stated all zones remain open along strike and at depth.
“The expansion of the near-surface sulphide mineral resources warrants evaluation for leaching of sulphide mineralization, taking advantage of new advancements in leaching of copper sulphides, such that the copper may be extracted using the same SX-EW technology proposed for oxide mineralization,” stated president/CEO Harlan Meade.
With that in mind, Copper North has a new preliminary economic assessment underway for zones 1, 4 and 7 to replace the 2014 PEA.
The company also holds a 100% option on the Thor porphyry copper property adjacent to the former Kemess mine in north-central British Columbia and an historic resource at its Redstone copper-silver project in the Northwest Territories’ Nahanni mining district.